|
What is Extended Time
Bidding??
For the great MoviePosterBid.com Special Auctions each
month we have Extended Time Bidding. Any bid placed within the last 2 minutes
of an auction will extend the ending time of the auction by 2 minutes.
For further explanation.. Let's say an
auction for the Mole People half sheet poster is going to end at 8:31:00 pm. If
the last bid received on that item is more than 2 minutes before the scheduled
end time, the item will end on time at 8:31:00 pm
However, let's say
that another bid is placed with less than 2 minutes to go in the auction, it
will add 2 minutes to the auction end time and now the auction will end at
8:33:00 pm. If another bid comes in when the clock is under 2 minutes, it will
extend the auction until 8:35:00 pm.
This will continue until no more
bids are received within the last 2 minutes of any auction. This will give
every bidder a "second chance" to make another bid and score that item that
they just don't want to get away from them, so they can add them to their
collections
These 2 auctions contain many special items that are rarely
seen for sale and everyone will want that second chance when something is
slipping away at the final moments.
This will give the auction the same
feel as an actual live auction where the auctioneer doesn't drop the hammer on
an item until there are no more bids in the room, and everyone has exhausted
their opportunity to place further bids.
Also, please note that after
these 2 auctions end, our regular weekly auctions will return to the regular
format with no extended time bidding.
To those who wonder how this will
affect their bids: we in the hobby have already seen how this works at
eMoviePoster who instituted extended bidding in 2008. The vast majority of
items - over 90% - do not get extended as for most items bidding is long done
before any item ends. But for those items like a 3 Godfathers insert, or a
one-sheet for An Affair to Remember - there might be bidders who have second
thoughts and decide to bid again. But for most bidders, the extended bidding
will have absolutely no effect.
Anyone who wants to ask any questions,
please use the Feedback form at
This
Link |
 |
