General discussion, page-5688

Because it's a matched system, it doesn't really matter what the price you place a sell order at during the auction - could be 30c, 28c or 15c. What you are trying to do by this is get to the front of the queue for when the orders are matched.. I.e. if I absolutely had to sell my shares yesterday and was waiting all day hoping it would go up more over time so I could make more returns, but it didn't - I could just drop them in at 30c (or 15c - again doesn't matter) at the 4.00pm closing auction to ensure that I can sell them before the markets closed. See this a bit at the end of day scramble with T-2 traders and the such.

What really matters more is the volume of shares on sale below or above the current share price at 10.00am (for morning open) or 4.00pm (for closing open). If it's skewed below the price, it will go down (the algo matched price dictating to what value) and vice versa.