A method and system for conducting electronic auctions is described. A
dynamic lot closing extension feature avoids collisions in closing times
of multiple lots by dynamically extending the closing time of a
subsequent lot if a preceding lot's closing time is extended to be too
close to the subsequent lot's then-currently scheduled closing time. In
one embodiment, scheduled closing times can be extended with a flexible
overtime feature, in which the properties of the event triggering the
extension and the duration of the overtime period(s) can be tailored to a
particular auction, particular lots of products within an auction, and to
the particular time within an auction process.