Quote:
Originally Posted by Dottore
That is fine in theory.
But in practice, if I am willing to pay say, $25,000.- as a top price—I would of course also be prepared to pay $25,500.- I mean what's 500 bucks right?
So finding that top limit is practically speaking almost impossible.
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The clock is going to find the limits very abruptly. There isn't a gavel slamming. There is a quiet "Auction Ended" note when the clock runs out. You need to submit a bid that your comfortable with before the final seconds. You have the right during the auction, at any time, to raise your own maximum bid if you desire even if you are currently the winnner bidder.
Again, if the item is desirable there may be a flurry of bids in the last moments. You may or may not get a second chance or third chance to bid.