How an Auction System could work.

[Arohk]

Near the 230 bids people will hoard the placard to be the 234th bidder and you are back to the old system, except significantly higher costs.

You can't wait for the last seconds because you dont know when the auction will end, the timer is just an estimate as it was with the old timer, maybe that was unclear.

Also, this system will make it impossible for most people to buy a house since only those with a lot of gil have a chance. Breaking the balance towards newer players.

And again, this is not a replacement, the lottery will still be in place, people with a lot of money will try the auction, and others can join the lottery.
and even if someone bids 999 million, at least the gil is out of the system.