"Abc Auctions" auctions extra time online auctions

What is extra time?

Among the various terms related to the world of online auctions, one of the most intriguing and sometimes less understood concepts is “Extra Time.”

author: Internal Editorial Team
18-02-2025
3 mins to read

Among the different terms and dynamics of online auctions, one of the most intriguing yet often misunderstood concepts is "Extra Time." But what exactly is Extra Time, and what impact does it have on online auctions? Let’s find out together.

Extra Time, also known as "auction extension," is a feature used in online auctions to ensure that every participant has a fair opportunity to place a bid. Essentially, it is an additional time period that is automatically activated when a bid is placed in the final moments before the auction’s scheduled end.

The Purpose of Extra Time

The main goal of Extra Time is to prevent an auction from closing suddenly, stopping participants from reacting to last-second bids. This mechanism makes the process more transparent and fosters fairer competition among bidders.

How Does Extra Time Work?

The functioning of Extra Time is simple and intuitive. Here are the key points to keep in mind:

Initial auction duration: Every online auction has a predetermined duration.
Last-minute bid: If a participant places a "last-minute" bid, Extra Time is activated.
Auction extension: The auction is extended for an additional period.
New bids: If further bids are placed during Extra Time, the extension period can be renewed.
Final closing: The auction ends only when the Extra Time period expires without any new bids being placed.

This mechanism helps avoid surprises and gives all participants the necessary time to consider their next moves.

For example, on the Gobidreal.it platform, if a winning bid is placed within the last 5 minutes before the auction closes, the bidding period will be extended by an additional 5 minutes from the last received bid. This mechanism will repeat each time a winning bid is placed during the 5-minute extra period, further extending the deadline for new bids by another 5 minutes from the last placed bid.

Why Is Extra Time Important?

Extra Time is a crucial element for several reasons:

Transparency and fairness: It ensures that no participant can exploit last-second bidding strategies to win an auction without giving others a chance to respond.

Enhanced user experience: Buyers feel more protected and have more time to make informed decisions.

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