AUCTION STYLES AND TIMES
ORIGINAL STYLE (Default)
a. Auctions are for a 24 hour duration. For example; if an auction is posted at 12:00 Noon on Sunday, it ends at 11:59:59 AM on Monday.
b. The winning bid will be the highest bid placed before the end of the auction time.
c. All auctions are automatically this style unless clearly specified by the Seller.
LAST MEMBER STANDING STYLE (if selected by Seller)
a. A Seller may choose this style of auction by including “LMS” or “Last Member Standing” in the auction description at the time of posting. It may be edited in to the description only within 5 minutes of posting the auction.
b. All auctions using this style are for a duration of at least 24 hours. If an auction was placed at 12:00 Noon on Tuesday, the last time to place a qualifying bid is 11:59:59 AM Wednesday.
c. If a Member places a valid bid in the last 5 minutes of the auction (between 11:55:00 and 11:59:59 AM Wednesday in the example above) this triggers a war, and extends the time of the auction by 5 minutes, regardless of when during the last 5 minutes the bid was placed. For example; if a bid is made at 11:56:00 AM or at 11:59:04 AM, the end time of the auction is now 12:04:59.
d. Every subsequent bid made before the closing extends the auction another 5 minutes from the time that bid was placed, after the initial extended end time.
e. Any Member who placed a valid bid in the first 24 hours may continue placing bids within 5 minutes of the last bid.
f. Members may not place their first valid bid after the normal end time. Any Member who places their first bid after the normal ending time will have their bids counted as invalid. These invalid bids will not be used in determining the outcome of the auction.
g. The war will end when 5 minutes has elapsed from the last valid bid.
h. LMS auctions must be closed by an Admin or Mod. Please see the FEATURED tab in the group to locate the Auction Needs Closing post.
i. Once invalid bids are excluded, and if a Bidder is bidding against only themselves, that persons first bid following the last valid bid made by another Member will be declared the winning bid.