For many auction bidders, sniping is a common disappointment. You submitted your highest bid during the last minutes of the auction, confident in the likelihood of winning, then suddenly, with seconds to go, someone else swoops in with an even higher offer. Before you have time to retaliate, the auction is closed. In auction jargon, you have become the victim of a sniper. Sniping is a method of online auction bidding where a bid is placed in the final seconds of an auction and the former high bidder is outbid, or sniped. The auction closes and the sniper, in essence, steals the auction.
Many sellers and bidders have voiced their frustration over the unpleasant experiences they have had with sniping. So, we have instituted the concept of a “soft close” on all of our auctions. If an auction lot receives a bid within 10 minutes of the scheduled auction time, the auction on this particular lot will be extended for an additional 20 minutes, then it will continue indefinitely until 20 minutes have passed without a new high bid.