Excellent post Michael.... the only thing I would disagree with you is point #2 where you stated; 2. "At a gavel auction, when was the last time you saw a bid call last 3,5,7, or 10 days, with bids coming in from all 24 time zones? Comparing eBay to a gavel auction, without allowing for the fundamental differences in formats, is a mistake.

Michael; Generally speaking, IMHO, 3, 5, 7, 10 day auctions is not an accurate reflection of real world E-bay bidding. The sale may be listed for multiple days, but I would think that the majority of ebayers realize that the real auction comes during the last several minutes on items of great interest.

I would venture to say that most items on ebay never even receive an opening bid. Why is that? You don't think it's because some Ebay sellers might be confused and think that ebay is a retail store ... do you?