question Are Auctions That Require Minimum Bids Accurately Described as "No Reserve" Auctions

[Jeff_Libert]

Maybe it's me but, when I clicked through a header-promotional link on an Afternc webpage - a link that launches "GoDaddy's . . No Reserve Auction" - the link loaded a page listing domains that had "Min. Bid" USD amounts listed next to the domains.

Anyone else seeing this?

To my understanding "No Reserve" means that there's no requirement of bidding a minimum - or "reserve" - amount. Reserve, to me, means "I/We will NOT sell this domain UNLESS you, the bidder, agree to pay at least this amount".

To me, "no reserve" means if I bid $1.00 and no one else bids then I win the auction.

Here's the link in question that purports to lead to a no reserve auction:

https: auctions.godaddy.com/beta?q=namefind

Here's the words that precede the link:

Find the next premium domain for your portfolio with GoDaddy’s no-reserve auction event running now​

Somebody call me stupid before I say another word about . . . ^all that^ . . because I don't wish to call BS if I'm mistaken in my understanding of the phrase "no reserve".

 

[Hypersot]

There is also the bid the auction will be starting at. Afaik, that's what they mean by 'min.bid'

'No reserve' means that the winner will get the domain no matter the amount the auction ends at (assuming someone made the first bid, which is >=min.bid)

What you say would have been correct if there was no min.bid mentioned at all.

At least that was always my understanding of it.

 

[Jeff_Libert]

Thanks for the answer / insight, Hypersot.

FWIW, I would prefer that solicitations or marketing for auctions would clarify whether they are "No Reserve - $10 Minimum" or "No Reserve - Minimum $4K to $10K" etc. That would be a bit more honest / straightforward or, at the very least, would save some of us a bit of time "clicking through to learn".

I'm sure my comment (lament?) here can be counted on to change the way the world operates. :p

OBTW - There's actually a Wikipedia pages that explains the import of "no reserve". It totally agrees with your POV Hypersot.

 

[D Haynes]

To me a minimum bid clearly amounts to a reserve price. Its just marketing nonsense to say there is "no reserve" when the name will not sell unless a certain amount is bid. It might even be more believable if all the names in the auction had the same starting bid (say $1000) but when they all have different starting bids dependent on what they think they're worth it just makes a mockery of "no reserve".

 

[Jeff_Libert]

D Haynes, I imagine it's possible that people of domaining intelligence and means will eventually assume that "No Reserve" is as meaningless as "Premium" and simply stop wasting time confirming that fact.

 

[RealityTVshows]

Maybe it's me but, when I clicked through a header-promotional link on an Afternc webpage - a link that launches "GoDaddy's . . No Reserve Auction" - the link loaded a page listing domains that had "Min. Bid" USD amounts listed next to the domains.

Anyone else seeing this?

To my understanding "No Reserve" means that there's no requirement of bidding a minimum - or "reserve" - amount. Reserve, to me, means "I/We will NOT sell this domain UNLESS you, the bidder, agree to pay at least this amount".

To me, "no reserve" means if I bid $1.00 and no one else bids then I win the auction.

Here's the link in question that purports to lead to a no reserve auction:

https: auctions.godaddy.com/beta?q=namefind

Here's the words that precede the link:

Find the next premium domain for your portfolio with GoDaddy’s no-reserve auction event running now​

Somebody call me stupid before I say another word about . . . ^all that^ . . because I don't wish to call BS if I'm mistaken in my understanding of the phrase "no reserve".

let's put you in the position of advertising something you value on a "no reserve auction"... are you gonna sell me your iPhone 15 let's say, for $1 ???

I'll guess that you won't... you'll likely want a minimum of $700 or more... the "or more" part being as much more as possible... so, you start the price at your $700 number with no reserve because you're willing to sell it for your "reserve amount", with no reserve above your starting number... I'd call it "splitting hairs" but it's all good, there's no reserve above your reserve amount ; )