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What is Dynamic Closing Time?

April 26, 2017closing Dynamic time

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What is Dynamic Closing Time?

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Dynamic Closing Time means that anytime a bid is placed within the last five minutes of an auction, the auction is automatically extended 5 minutes. Once an auction is in the “Extended Period” the Dynamic Closing Time will extend five minutes after every bid, so that all bidders will have 5 minutes to place their own bid before an auction is considered “COMPLETED”. Once an auction goes into the “Extended Period” it is no longer listed on any of the active auction lists. The only way to get to the auction is through the auction link in the Bid or Outbid e-mails. This allows only the active bidders of an auction access to place bids. An auction is not officially closed until the Time Left states “COMPLETED”. If the Time Left does not state “COMPLETED” then the auction is still open for bids. We have added this feature to make the auctions fair, and prevent bidders from “stealing” an auction in the closing seconds.