The AuctionNinja platform features extended bidding (a.k.a. "soft closing"). The AuctionNinja system will automatically extend the closing time of a lot (auction item) whenever a bid is placed within the last five minutes of its scheduled closing. This may occur multiple times on any given lot depending on the bidder interest in that lot. Once all interest and bidding in a lot ceases the clock will run out and the lot will close.
This is the fairest way to prevent “bid sniping” (someone submitting a high bid in the last seconds of any given lot’s closing in order to win said lot) and to give all bidders an opportunity to increase their bids if they wish. It is also the closest way to mimic a live, in-person auction, when the auctioneer gives bidders opportunities to increase their bids if someone jumps into the bidding at the last moment before hammering the winning bid.