Dynamic Closing Explained

A good share of online auction winners are a result of what is called "sniping". That is, bidders wait until almost the last second to place their bid on a given lot and win the lot by default. To give everyone a better chance to bid at winning lots, we have instituted what we call a "Dynamic Closing".

Our auction runs on what is called in the trade the "15 minute rule". That is, rather than a lot (or entire auction) ending at a specific time, each lot closes when no one has placed a bid on a given lot for fifteen minutes. Placing a bid, after the dynamic closing time has kicked in, keeps that lot open for fifteen more minutes. This process makes it impossible for professional snipers to win lots by default.

With the Scout Patch Auction, after the dynamic closing time has started, lots close one by one as they have gone 15 minutes without a bid on them. Fifteen minutes after the dynamic closing time starts, if you click the "refresh" or "reload" icon on your Web browser, a new hotlink appears -- "Show Remaining Lots Open". Clicking this link makes it much easier for you to see what lots are open and which lots are closed for bidding.

As an example, if the dynamic close period begins at 8:30 pm and a lot has had no bids after 8:30 pm then the lot will be closed to further bidding at 8:45pm. If a bid comes in at 8:32, then the earliest a lot is supposed to lcose would be 8:47. If there were no bids say from 8:30 to 8:44 and then a bid came in, then the clock extends another full 15 minutes. You no longer need to wait to the last second to try to get your bids in.

Still have a question that's not answered? E-mail us at spa@msen.com

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