Linda Payne Autographs

Current Auction Time:09/08/2010 - 4:55 PM Central Daylight Time
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EXTENDED BIDDING EXPLAINED

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A great feature that allows the auction system to automatically extend the closing time of a listing based on the bidding activity within a designated period prior to the scheduled closing time. Extended Bidding is a system wide setting and applies to listings on an individual basis.

Extended Bidding ON (Set to 5 minutes). If you see this on the listing, it's in effect for all items in the auction.

This is how it works. If a bid is placed within the last 5 minutes of an auction, the closing time automatically extends 5 minutes from the time the bid is logged into the system. The "new" closing time is indicated under "Extended Closing" on the listing page under Current Bid. Subsequent bids on the item will continue to extend the auction until there is a 5 minute period without any bids. This applies to any bid that is accepted. Just hit the Refresh button in your browser to see the remaining time left for bidding, before the item closes.

For example, if our scheduled closing time is 8:00:00 pm CST and a bid is logged at 7:57:00 pm CST then the closing will be extended for that item to 8:02:00 pm CST.

ADVANTAGES OF USING THE 5 MINUTE RULE SYSTEM

1. Allows a bidder, whose limit bid is beaten in the last minutes or seconds, time to re- bid. This prevents a bidder from being sniped or "beat out" as they would be if the auction had a set closing time.
2. Allows a bidder, whose last minute bid does not overtake the current bidholder's limit bid, time to bid again if still interested in the item.
3. Extended Bidding or Snipe Protection more accurately simulates a traditional auction process where bidding ends only when the participating parties discontinue bidding within a certain time period. The "going once, going twice" then "SOLD!" is how an auction should be conducted. We feel you'll enjoy this feature and it will allow you to win those items you truly "must have"!

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