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There is no set amount of time for bidding on a given lot, as it mostly depends on how the auctioneer runs the auction. It is a good idea to watch for warning signals in the bidding window – they’re there to let the users know when bidding on the current lot is about to close.
For art auctions, it’s usually a bell that appears in the lower-left corner of the screen. It signals that bidding on this item could end at any moment.
In numismatic, bibliophilic, and certain art auctions, a counter is displayed, counting: 1, 2, 3, which corresponds to the announcements: first time, second time, and third time.
It is good practice to place your incremental bids in a timely manner. Waiting until the last moment to bid may result in your submission reaching the organizer too late, another offer being accepted, or the auction for that lot closing.