Am I allowed to end Auction any time without BIN

Furquan · Jun 27, 2017

I have little confusion about auction time,

Let me try to get some answer,

Assume,

I am running an Auction with End Time 72 Hour after last bid or via BIN.

After 48 Hour there is only one bid & I want to closed that auction & want choose that alone bidder as a winer,

Do I allowed to do the same.

It's very helpful if I get answer direct from @Eric Lyon or any other NP support staff member

Eric Lyon · Jun 27, 2017

Hello,

Here's the rules that pertain to your question:

6.2.3. An auction cannot be modified once a bid is placed with the exceptions of its Buy-It-Now ("BIN") price, bid increments, adding payment methods, and/or adding additional domains at no extra cost. Once a bid is placed, every allowable change (the exceptions just mentioned) must be posted to the thread as a new reply as well as updated in the original post before it becomes effective and valid (e.g., a BIN price cannot be accepted until this is done). BIN prices are not reserve prices and therefore do not affect rule 6.2.10.

6.2.4. A Buy-It-Now ("BIN") price may be changed (added, reduced, increased, or removed) on an auction prior to it being accepted, in accordance with rule 6.2.3. The BIN price in an auction must be publicly accepted by a buyer.

6.2.10. Auction holders (sellers) must sell to the highest bidder with a valid bid at the end of the auction or to the first buyer to accept a valid Buy-It-Now ("BIN") price before the auction ends. Rule 6.1.17 applies.

6.2.12. Auction formats, details, terms, and rules created by sellers must be reasonable, transparent, specific, predictable, and sensible.

With the above in mind, the end time may not be changed after a bid has been placed, however, you may use the proper method (Outlined above) of reducing the BIN price for a potentially quicker sale.

I hope that helps,

usernamex · Jun 27, 2017

Can you confirm this is correct interpretation?

1] If I have a current high bidder and I choose to add a BIN, can I make the BIN the EXACT amount of the current high bid with the understanding that the high bidder will have to publicly accept the BIN after the thread is updated, correct?

2 If I intend for the BIN to be for the benefit of the current high bidder, we can coordinate timing by PM to ensure that bidder can accept as soon as the thread is updated, correct?

Thanks!

Eric Lyon · Jun 27, 2017

1) Correct, the bidder must publicly accept the new BIN after your public update for it to be binding.
2) Correct, you may communicate in direct message, however, for anything to be binding and to comply with the rules of an auction, both parties must post the required information in the public auction thread so everything is transparent for it to be binding.

I hope that helps,

dylan2 · Jul 5, 2017

If there are no bids, can an auction thread be closed at any time?
(my interpretation is yes)

Eric Lyon · Jul 5, 2017

dylan2 said:
If there are no bids, can an auction thread be closed at any time?
(my interpretation is yes)

Yes, it can be closed or changed at anytime until there is a valid bid.

Am I allowed to end Auction any time without BIN

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