Dynamic Auction Closing: The term dynamic closing was coined by Randy Ehli while designing an update to the auction closing procedure to cyberauctions.com back in 2003.  The CyberAuctions.com platform started in 1999 and was one of the first in the industry for online-only auctions.

Like most bidding systems at the time, we used a hard closing. Feedback from our customers let us know that they were not done bidding and the bidding system was not getting full value for the items up for auction. The new closing system would extend the bidding at closing time. Bids that came in 5 minutes before the posted closing time would extend the whole auction by 5 minutes, during the first hour of overtime. During the 2nd hour the bids extended in 2-minute periods, and during the 3rd or more hours the bids extended in 1-minute periods. What was unique about the cyberauctions system was that the whole auction would extend. CyberAuctions could sell 2,700 lots in 5 hours of extended bidding. To put that in perspective it would take 3 auctioneers selling for 8 hours each to sell 2,700 lots.

The term "Dynamic Closing" took hold in the auction industry and today it is commonly used by auction companies to promote their online auctions.

In 2022, Randy improved the auction closing process by adding Accelerated Lot Closing (ALC) to the dynamic closing process. The main auction timer still runs, but now the system can check at designated time periods to see if any auction lots have not received a bid. The way Ehli Auctions utilizes this feature is at the posted closing time it checks to see if there are any lots that have not been bid on in the last hour. If so, they will close (marked sold) at the closing time, then during the next hour it checks every 30 minutes, and if there is still bidding after 2 hours of extended bidding the system checks every 15 minutes. Using Accelerated Lot Closing in conjunction with the Dynamic Timer we can sell 2,700 lots in just over 2 hours of extended bidding. The process of the time getting shorter and the auction getting smaller promotes more bidding before the posted auction closing time. Most other bidding platforms sell around 180 lots an hour which would take 15 hours to sell2,700 lots.

 The CyberAuctions bidding platform now supports more ways to program the auction closing than any other platform.

Classic Dynamic Closing: Keeping the whole auction open during the extend bidding.
Dynamic Closing with Accelerated Lot Closing as mentioned above.
Selling in Lot Order: Sell in lot order with programable time periods between bids. Default is 20 seconds.
Selling Multiple Lots in Lot Order: A group of lots being sold at once with programable time periods.
Webcast with video, and sound selling in lot order. The webcast allows for grouping, quantities, and online clerking.
Online Only Multi-Par Real-Estate Auctions Webcast Multi-Par Real-Estate Auctions