Quite.
Even if you really did want to prevent the situation where two bots would continue to outbid each other (despite an escalating price no doubt well beyond market), you could say that an auction's maximum extension would be 24 hours.
Frankly, I expect it would rarely exceed 30 mins.
Remember, an auction is traditionally MEANT to enable bidders to agree that no higher bids are forthcoming. The auctioneer slams his gavel down when such agreement is evident - not because he's decided time's up.
Even if you really did want to prevent the situation where two bots would continue to outbid each other (despite an escalating price no doubt well beyond market), you could say that an auction's maximum extension would be 24 hours.
Frankly, I expect it would rarely exceed 30 mins.
Remember, an auction is traditionally MEANT to enable bidders to agree that no higher bids are forthcoming. The auctioneer slams his gavel down when such agreement is evident - not because he's decided time's up.