Posted by Rob Boden on April 13, 2010 at 07:35:42 user humyar.
In Reply to: Re: Turks Yard Auction posted by Robin Marshall on April 13, 2010 at 05:22:07:
What is Overtime Bidding?
Robin -
Apex have a system called 'overtime bidding' in case bids are placed in the last ten minutes. If they are, then the auction is extended by a further ten minutes. It seems to be designed to maximise the bids:
"Overtime bidding occurs if there is a bid placed on an item in the final 10 minutes of the sale. When the bid is placed the end time will extend by a further 10 minutes. Further bids will not extend the end time unless placed in the final 10 minutes.
Why Do Apex Use Overtime Bidding?
Apex's bidding software attempts to re-create the experience of a live auction room. With a fixed cut off time the item is sold to the bidder who clicks the bid button last, whereas with overtime bidding the item is sold to the bidder who is willing to pay the highest amount." Quoted from Apex.
Let's keep calm and let Magnus keep placing our bids!
Rob