Explanation of Public Auctions At Namejet

Feb 20 2017

Travis and I had questions on exactly what happens when a domain that is a public auction (private listing) gets a bid, two bids, no bids?  I thought I knew but I wasn’t quite sure. So we did what most people should do. Write a post about it and complain.  Just kidding,  we just asked.  Here is the procedure for public auctions.  Most of you probably knew but thought it would help a few people.

 

 

Public Auction Start Process

​If there are no backorders on a domain, there is no auction at all.  

 

If there is only one backorder and no reserve, there is no auction, and the domain is awarded to that single bidder. 

 

If there is only one backorder and it meets the reserve amount before the auction starts, there is no auction, and the domain is awarded to that single bidder.  

 

If there is a reserve, even with only one backorder (under reserve), an auction will open with the hopes that they will increase their bid to meet the reserve and be sold. 

 

If there is no reserve, and multiple backorders at $69, and no bidders increase their bid amount, the person who entered their backorder first, will automatically win.

 

There you go.  Everything you needed to know about how a Public Auction works.

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Outsmarting the Dumb, Outworking the Smart

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5 comments

  1. Matt

    Shane,

    Did you ask them Why the put a reserve on a domain with only 1 back order? It forces the domain to auction and often goes unsold when they could have had a buyer.

    Matt


    1. Post author
      ShaneCultra

      Matt,

      Reserves are put on before the auction even starts. The reserve meant the buyer didn’t want to sell below a certain price and that he/she didn’t want to sell at that price. Its easy to find buyers if you go cheap enough

    1. Travis M.

      Pre-release (public) is the state that a public auction is in before it gets to it’s auction start date where the above rules come into play.

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