Timed auctions are online only events. In timed auctions, online buyers will place bids against one another until a specified time. At that time, the buyer with the highest bid is awarded the item.
Timed auctions are normally set to stagger the end times of lots. This means that the first item in a sale will close before the last item in a sale; this allows buyers to more easily bid on and monitor multiple lots in a single sale. When checking the end time of a sale, be sure to check the end time of any lots you may be interested in, as the stagger time can vary from event to event.
Most events will have a period during which bidding is extended. When a buyer places a bid on an item in the last moments before the item closes, the timer will extend to allow counter-bids to be placed.
Finally, when placing max-bids, please note that when two buyers place the same maximum bid amount, the high bid will be awarded to whichever buyer placed their maximum bid first.