This is a great question. Like many other traditional auctions, a penny auction does not an official end time. Rather, the first time that the clock approaches 0:00 is actually technically called the beginning.
Each time a bid is placed, more time is added to the clock. So, as long as there are still active bidders, the penny auction will not end.
Can a penny auction last forever?
It probably can, but never does. Some penny auctions end very quickly and others can last for hours. Part of the ‘game’ is having a strategy to identify how many other bidders there are, how serious they are, etc.
Posted in: Penny Auctions