GoDaddy Auction question

[Greg]

I have regularly participated in GoDaddy Auctions over the last several years and have never experienced this before so I'm reaching out for help in answering since GoDaddy's "Award Winning" customer service has taken a BIG drop lately and is unable to help me.

I was the first bid ($12) of an expired auction that ended on Saturday. I was home so I planned on watching the auction and bidding up as needed, however, the wife needed me to run to the store so I placed a proxy bid of $74 and came home an hour later. I checked to see if I won or lost and found that I lost. I was beat by one single bid of $75 (only $1 higher, not the $5 higher that is minimum bid).

My question is this:
Aren't bidding increments $5 on expired auctions and if so then how would another bidder win with just $1 higher bid?

 

[equity78]

I have regularly participated in GoDaddy Auctions over the last several years and have never experienced this before so I'm reaching out for help in answering since GoDaddy's "Award Winning" customer service has taken a BIG drop lately and is unable to help me.

I was the first bid ($12) of an expired auction that ended on Saturday. I was home so I planned on watching the auction and bidding up as needed, however, the wife needed me to run to the store so I placed a proxy bid of $74 and came home an hour later. I checked to see if I won or lost and found that I lost. I was beat by one single bid of $75 (only $1 higher, not the $5 higher that is minimum bid).

My question is this:
Aren't bidding increments $5 on expired auctions and if so then how would another bidder win with just $1 higher bid?

I believe they probably bid that high Greg and triggered your proxy, but @Paul Nicks or @Joe Styler could confirm. If it was at $22 say and they jumped to $75 well then they just beat you out by $1. I think if your bid was showing $74 they would have to bid $79 but it probably was at a lower level when they bid $75.

 

[Greg]

Thanks for the quick response. Usually the bid history would would show all of the proxy bids but in this case it only showed my initial bid, my second bid which was $74 and then the winning bid which was $75

 

[equity78]

If it went like that where there was just this $12 bid, and only you know you got $74 in proxy, the second bidder came along and tried to jump it up and just bid $75, since they were looking at a $12 then they made a bid more than $5 higher and it triggered your $74. @Joe Styler can you confirm please.

 

[RevolutionaryDomains]

It is as equity78 stated. Your bid of 12 required a minimum bid of as least 5 higher for the next bidder. The next bid was not 5 higher, but 75 higher, which pulled your entire proxy amount of 74. As you were not there to bid again before the auction ended, the auction closed with the other bidder as the winner.

Only when a bidder runs you up in smaller increments, say 5 for example, will you find it play out the way you were expecting to see it close.

 

[Joe Styler]

If it went like that where there was just this $12 bid, and only you know you got $74 in proxy, the second bidder came along and tried to jump it up and just bid $75, since they were looking at a $12 then they made a bid more than $5 higher and it triggered your $74. @Joe Styler can you confirm please.

That is correct. If you have a proxy bid like yours and someone tries to set their own proxy bid which is higher it will outbid yours if they have a higher bid and its higher than the showing next bid increment.

 

[Estatevirtualor]

Many people will raise their bid to recapture high bidder status.Proxy bidding avoids some of these problems.
Sometimes it can be good and other times it make you lose the bids.