What is the 9:00 PM Rule?
The auction will close for initial bidders at 9:00 p.m. EST day of auction. If you have not placed a bid on an open lot prior to 9:00 p.m. EST day if auction, you will be ineligible to bid on said lot after 9:00 p.m. EST. However, any unopened lot can be bid on after 9:00 p.m. If you are the only bidder on a lot after 9:00 p.m. EST, you will instantly become the winning bidder. Grey Flannel Auctions reserves the right to extend this rule for any reason. For ongoing lots after 9:00 p.m. EST, the 10 minute rule will be applied, meaning the auction will not end until the phone stops ringing for 10 minutes. Please note that this rule does not apply for our “Live” auctions which end in-the-room with an auctioneer. Once the auction goes live, all bids accepted live in the room as well as all bids accepted online and via the telephone will determine when the lots/auction closes.
