question A naive question about auctions with no Minimum offer shown

[elodo]

There's something I don't get - could you, please, explain it to me?

When I see an auction with many bids on Sedo or GD where no minimum offer is shown - all I see as an outside visitor is a current number of bids, let's say, 20 bids it is, and a window where I can type in my own bid -

does this mean that all those bids were actually offers, made via "Make Offer"? - which the auction's interface calls "bids"?

Because if the "Minimum offer" is not set - that means that every of these 20 'bidders' just blindly submitted an amount of their own choosing - $5 , $100, $10.000 - without any knowing what other 'bids' were?..

Or it designed so that even when Minimum offer is not set, every bid stiil has to be higher than the highest bid submitted before?


I hope my question makes sense - thank you for your patience.

 

[VivifyDomains]

Hi there,

Are you able to provide a screenshot of the page you are looking at? If you don't want to reveal the name you can erase any parts you don't want shown.

Offers sent via the "Make Offer" option are between the buyer and seller only, it does not relate to bids.

 

[elodo]

Thank you -

I should've checked it out while being logged in -
only this way every auction does show the minimum bid/offer amount.

And, I think I finally figured out the main part that bugged me.
Just found this on GD -

"In an "Offer" auction, the seller can counteroffer until you both agree on a price.
In a "Bid" auction, our system will place the smallest winning bid for you automatically, up to your submitted bid."

I've seen only "Make offer" buttons - because there's much more of those - and haven't happened to notice those rare "Place bid" buttons before.

And - I think I was right still:
my questioning was justified, I still can't understand why they call the "Offer" one an auction too. This is what caused my confusion.
Because in my mind only the "Bid" auction is an auction.

Offering-counteroffering is not an auction, it's a... negotiation, I don't know.

 

[forge]

my questioning was justified, I still can't understand why they call the "Offer" one an auction too. This is what caused my confusion.
Because in my mind only the "Bid" auction is an auction.

Bingo.

Godaddy mucking things up again.

 

[MKA]

Godaddy distinguishes between bids and minimum offers. Bids pertain to auctions, and minimum offers to negotiations. Both are listed on their auction site however, with negotiations being up for 90 days before they have to be renewed. Auctions tend to be shorter.

Minimum offer domains with 20 offers, are just that: domains that have received the minimum offer 20 times. Note that the minimum offer can change at any point. I can list a domain with a minimum offer of $30, get 100 offers, reject said offers, and raise the minimum offer to $10,000, and it will still say that I've gotten 100 offers (and a lot of people do this) so be wary of that.