What it basically means it that bidorbuy online auctions are poised to become more like real life auctions, where bidding does not stop at a specific, prearranged time, but instead goes on for as long as there are bidders willing to fight it out.
In the online environment, the extended bidding works like this:
If an auction is set to close at 15:00, it will close at 15:00 – providing there were no new bids in the last five minutes. However, as soon as anyone places a bid between 14:55 and 15:00, the auction automatically extends till 15:05. Should anyone table a bid in the extra time, the auction is extended yet again, till 15:10… and so on – you get the picture. To make the long story short, the auction remains open for as long as there are bidders willing to place a bid, and closes when there are no bids during the final five minutes.
The automatic extension is being introduced today, for the already mentioned Garmin Nuvi 310 GPS navigator, which is serving as a guinea pig for testing the functionality of this novelty. The objective is to see if auto extension is a good way to spread the load spikes the site receives during the most popular auctions.
Do let us know what you think about auto extension feature!