Bid Timing

Here we provide two histograms showing (i) the number of minutes between when the winning bid was placed and when the auction ended (click here), and (ii) the number of minutes between when the final bid was placed and when the auction ended (click here).

For the auctions in our data set the median time between when the winning bid was placed and when the auction ends is 284 minutes. Hence a bidder who did not win -- and in particular the bidder with the second highest bid -- generally had time to revise his bid before the auction ended.