I think that having these as "rules" would make the auction experience a bit forced, stressful and rigid.
Most of the auctions that I attend, including my own are already mindful of the time and this is more out of concern for their patrons who need to attend other auctions or want to attend the next auction. If the auction runs over the hour it might mean that people are having fun with the auction and talking and bidding
Or maybe there are quite a few panels at that particular auction.
Of course, if market owners make these rules for the auctions at their market then that is up to them.....
Just my opinion