Dynamic Auction Closing has been a feature of cyberauctions.com since 1999.
With Dynamic Auction Closing if any bids are placed within 5 minutes of the scheduled auction closing time, the entire auction will extend by an additional 5 minutes. The auction will continue with the new scheduled closing time. This process will repeat itself for an hour at which time the extended period will go in 2-minute increments until no one places a bid within two minutes of the closing time. Bids placed during the third or more hours will extend the auction in 1-minute increments.
In 2021 we added a new feature to the closing routine which is called Accelerated Lot Closing (ALC). With ALC we check to see if there is any bidding on the lots over a given period. For example when it comes to the posted closing time we find any lots that have not received a bid in the last hour. If not we close them.
The schedule for the ALC may vary from auction to auction. Just click on the ALC logo to see the schedule. What happens is the auction gets smaller and the time left to bid gets shorter. This enables us to sell 2,500 lots in around two hours and you don't have to wait for your item to come up for bid. The main auction timer is still in effect so the auction could close sooner if there is not any bidding activity. Auction lots that have not received any bids at all will be available until the main timer ends. The old system took five to six hours to sell 2,500 lots which is still faster than any live auction but longer than most bidders wanted to stay around for. We hope you enjoy the new auction closing.