Extended bidding ensures that your items/auctions receive the highest bid available by automatically extending the closing times on items receiving additional bids in the final moments. Enabling the Extended Bidding option allows you to create triggers to automatically extend the closing time on items with active bidding and capture all last minute bids.
There we can set extended time and count limit.Extended time
We have to set last minute time if bids are placed at that last minute then time wil be extended for bidding for few minutes as per time set in admin.
Assume extended bidding is on and set to 120 seconds (2 minutes).
Therefore, if a Bid is placed within the last 2 minutes of the designated closing time, the closing time automatically extends 2 minutes from the time the bid is logged into the system. The “new” closing time is indicated under “Extended Closing” on the bid form. Subsequent bids on the item will continue to extend the listing’s closing time until there is a 2 minute period without any bids. This applies to any Bid that is accepted by the system.
• Extended time count
Extended time count is that we can set limit that for how many times it can extend thebidding time.
Example
1. Minimum Time Limit for Extension Bidding : 5 Mins
2. Extend Timing for Extension Bidding : 5 Mins
3. Auction scheduled to close at 6:30 p.m.
4. Bid placed at 6:26 p.m (or lesser 6:27 p.m / 6:28 p.m / in less seconds also)
5. New close time is 6:31 p.m.
6. Bid placed at 6:31 p.m. => Auction end time won’t extend(but bid will place) until Timer reaches again 6.26 p.m or lesser
7. New closing time is 6:31 p.m => No new bids received; item closes at 6:31 p.m.
Advantages:
• Allows a Bidder, whose Limit Bid is beaten in the last minutes or seconds, time to re-bid. This prevents a bidder from being “shut out” (also known as sniping) as they would be if the listing had a “fixed closing”.
• Allows a Bidder, whose last minute Bid does not overtake the current Bid holder’s Limit Bid (if applicable), time to bid again if still interested in the item.
• Extended Bidding more accurately simulates a “live” event where the bidding ends only when the participating parties discontinue bidding within a certain time period.
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