question-answered Domain Auction: Proxy Bidding

[kidsweapon]

I searched but unable to find the answer of my question. Suppose I want to Bid on kidsweapon.com on godaddy auction

I bid for $500, but the max bid by anyone is $250. On winning, am i going to pay $500 or $255.

Is there any procedure to know what is the max bid placed by someone?

 

[pinkdragon]

Proxy Bidding - that's the max you wanna spend on that domain. When you place it (the proxy bid), nobody knows if you will win it at 255, 383, 499, or you will be outbided (another bidder will place a 500+ bid).

 

[forge]

Is there any procedure to know what is the max bid placed by someone?

NO.

Except after the auction has ended. And only if another bidder outbid them.

 

[LoveCatchyDomains]

It would be interesting to hear whether very experienced auction bidders have found that generally they end up paying their authorized maximum bid, or generally if they do manage to get the domains for less than the max. On an auction platform, there clearly would be an incentive for the auction platform to have other other automated bids that help get the max out of the sale for them.

Hopefully, that doesn't go on. But it would be good to hear the experiences of other individuals on this.