Hello
@Nick R
I do have a question about the auctions at Sav.com. Why does the auction process differ from every other domain auction site we know? When an auction is won, the bidder with the winning bid has time frame to pay for the domain, Godaddy has 48hrs and the other sites has their respective period also. So why the use of "Preauthorized Payment" when bidding for domains?
I placed a bid for a domain last week Friday but did not win, however, my card was charged because the preauthorized payment involved. Now that I did not win I am yet to get a refund for the sum charged. So this makes me think, assuming there were 114 bidders interested in a name and the auction ended in say $3,500.00, what happens to the preauthorized payment made by the 113 bidders who lost in action? Will Sav be refunding dollars every day for bidders who did not win? If 100 of the 114 bidders placed a bid above $1,000.00 then that means Sav just charged at least
$100,000.00 from bidders who did not win the name. This, to my knowledge, does not happen in any auction in the domain industry.
So, I am quite confused about this modus operandi. I will appreciate if you can clarify further on this,
I also look forward to a refund of the preauthorized payment made for the bid I placed last Friday. I assume this should be almost immediate since the winning bidder has already paid for the domain.
Regards.