auctions GoDaddy Auction Mistake – Proxy Bid Set Too High, What Should I Do?

[metalsi]

Hi all,


I would appreciate your advice on a situation I’m currently facing.


I placed a proxy bid on a domain auction at GoDaddy (medinspect.com), but I made a mistake and set the proxy much higher than I intended due to misunderstanding how proxy bidding works.


The auction is still ongoing and the current price is relatively low, but my maximum bid is far above what I actually wanted to pay.


From your experience, what would be the best approach in this situation?


Should I simply step back and let the auction continue, or is there anything else I can do?


Thanks in advance for your help.

 

[WhySleepAlone]

Was you the first bidder of the expired name?

Normally the default proxy is within $xx range and if the name is not very bad, you will always get outbid at the end.

Or you knowingly entered another amount?

 

[Bravo Mod Team]

Contact GoDaddy or your account manager. They may be able to lower the proxy bid for you manually.

 

[metalsi]

Thank you for the suggestion, I appreciate it.


The auction has already ended and I ended up winning it due to the proxy bid being set too high by mistake.


At this point, what would be the best course of action? Has anyone been in a similar situation after winning an auction?


Thanks in advance.

 

[fka1080405]

At this point, what would be the best course of action? Has anyone been in a similar situation after winning an auction?

Very much depends on the auction, final price and your account. The starting position is that you will be banned from GoDaddy Auctions but they do sometimes waive bans for non-payment if you are a reputable user and/or they feel especially forgiving. You said in this thread that you are a new user which makes it a lot less likely that you will get any grace. Respond to the notification explaining that you placed the bid by mistake and hope for the best.

 

[AEProgram]

It sold for 572 and it went there because others were bidding. You can park it with a low bin and hope someone buys it quick. Was it one other bidder or many?

 

[metalsi]

There were multiple bidders involved, which pushed the price higher. I didn’t expect it to escalate that much, especially with the proxy bid mistake.

 

[AEProgram]

There were multiple bidders involved, which pushed the price higher. I didn’t expect it to escalate that much, especially with the proxy bid mistake.

multiple bidders is a great sign that it wasn't just the common bidding bot that got it up higher, park with bin, hope it works out.

 

[biggie]

Hi all,


I would appreciate your advice on a situation I’m currently facing.


I placed a proxy bid on a domain auction at GoDaddy (medinspect.com), but I made a mistake and set the proxy much higher than I intended due to misunderstanding how proxy bidding works.


The auction is still ongoing and the current price is relatively low, but my maximum bid is far above what I actually wanted to pay.


From your experience, what would be the best approach in this situation?


Should I simply step back and let the auction continue, or is there anything else I can do?


Thanks in advance for your help.

Hi


why…. didn’t you read the TOS to get participation rules/ guidelines before committing yourself in the auction?

by placing a proxy bid, you pushed the price higher than it might have closed at, thus making it an inflated price, if you don’t honor your bid.

imo…

 

[URL Stream]

multiple bidders is a great sign that it wasn't just the common bidding bot that got it up higher, park with bin, hope it works out.

It did receive attention from here though...

 

[Leo2k]

Mentioning the name in public and also giving addidtional info that u have placed a high proxy price will trigger some bad elements.

Anyways, not a bad name. You can definitely sell for atleast 2 / 3x your cost. Just keep holding it until then.

 

[metalsi]

Thank you all

 

[johnn]

Lesson learned.
Make sure you double check before place a proxy bid in a Wife auction next time.

 

[alop]

Lesson learned.
Make sure you double check before place a proxy bid in a Wife auction next time.

is that an offer

 

[boker]

Auctions are way overpriced lately. I wonder if you can still win an auction under $100 for anything worthy, let's say like a good hand reg. Paying 10x compared to a hand reg should worth your time and money. As I see it, only if it goes over 2-3k it starts being less crowded, but even at this price, marketplaces are the big winners.

 

[Bravo Mod Team]

At this point, what would be the best course of action?

You can try explaining the situation to the auction house. Sometimes, although rare, they will let you out of your bid and offer it to the second highest bidder or restart the auction, depending on the platform.

 

[SpareDomains]

Try to understand rules before ya bid.

If ya realize ya made a mistake call them before the auction ends as more likely for them to reduce your proxy bid than after it wins and has escalated other bidders bids.

If ya don't think ya want it set it on a buy it now to where ya make a minimum return on it and maybe one of these other bidders will peep it and buy it. Not the worst name I've seen so a flip could be possible.

Lesson learned I suppose so now ya know for future reference.

 

[metalsi]

The issue has been resolved, thank you.