There should be some solution, after all these years, to this age old problem. Probably the domain owner who renewed later or the registrar like Godaddy, should provide a basic compensation to the highest bidder....just thinking. Because for the buyer/bidder, all efforts and anticipation goes in vain once the domain is renewed at the end.
What money would a bidder be out before an auction is over, or any funds are transferred, auctions are always about risk. The 2-3 day window godaddy requires more I have been told in the past is for second, or third chance offers to close.
Well its not always about the money part. Think as a bidder when you are bidding at a domain for more than $5000, you are keeping your eyes on the auction, you have at the back of your mind that much money must be kept away for this particular auction. In the meantime, you might not bid at other good domains while you are waiting for this first auction. So if the seller renews, your other domains, which you might have won, are lost too. Thats why I mentioned, "efforts" apart from the financial part.
