GoDaddy Closeout Swiping

[domainhacks-931385]

Refreshed non-stop and still someone swiped it. Godaddy needs better procedures between auction and closeout transition.

 

[Name Trader]

Could you please explain a little more what you are talking about here?

 

[johname]

Godaddy auctions are not like ebay auctions, so as stub says we need more info

 

[lennco]

I think he is trying to say that he was watching a domain in Godaddy' s expiring auction and instead of bidding on it he let it go into closeout and as he refreshed it waiting for it to appear in the closeout section someone snatched it up before he had a chance to buy it at closeout.

That happen to me once, thought I could save a buck and someone bought it within a second it entered into close out.

Got to be fast

 

[johname]

Oh I see lennco, I thought he placed a bid.

So you refreshed it constantly for an hour?

You understand there are people living in huts with a goat doing the same thing, competing with you?

Its actually design to be some what non predicable (going to close out) to try to get people to instead take the safer path of purchasing at auction. In other words there no incentive for godaddy to make it easier for you to let a name hit close out before purchasing.

 

[lennco]

You understand there are people living in huts with a goat doing the same thing, competing with you?
.

Hey now, I resemble that remark

 

[Name Trader]

@lennco - OK. Then it's his own fault. I thought he was suggesting some kind of glitch or favoritism.

 

[domainhacks-931385]

@lennco - OK. Then it's his own fault. I thought he was suggesting some kind of glitch or favoritism.

lennco is right about my point but there could be a glitch.

Because there was no chance to even grab the domain.

It went from 13$ Closed (Auction expired with 0 bidders) to

12$ Closed (someone purchased it)

So I think there is a glitch where some people are given a chance to buy, but some others are not.

 

[equity78]

Its not a glitch and I think you mean $12 and closeout starts at $11. There is not one specific time that it moves to closeout. I have seen names shown closed and then one hour later open at $11, other times its open at $11 in ten minutes, there is no set guide for closeouts, like John said they want people to bid in the auction.

 

[domainhacks-931385]

Its not a glitch and I think you mean $12 and closeout starts at $11. There is not one specific time that it moves to closeout. I have seen names shown closed and then one hour later open at $11, other times its open at $11 in ten minutes, there is no set guide for closeouts, like John said they want people to bid in the auction.

true, but what I am saying is that I kept refreshing the watchlist from the time that the auction expired to the time it was unavailable and there was no time where it said buy now.

 

[Keith]

true, but what I am saying is that I kept refreshing the watchlist from the time that the auction expired to the time it was unavailable and there was no time where it said buy now.

Sounds like you were too slow. Best bet is to spend a few extra $ while it's in auction mode!

 

[Name Trader]

Yeah. But it's first come, first served once it goes to closeout. Somebody else bought it before you. No glitch, nothing to say. Somebody else was obviously doing the same as you and got to buy it before you. They only need to place it in their checkout and you won't see it again until it's paid for. Which probably explains the extra length of time before you saw it was sold at $11.

 

[Fonzie]

It's kind of an odd dilemma since Godaddy uses a far more efficient form of auctioning than ebay (fixed time auctions are literally the least efficient form of auctioning there is) by extending the close time whenever someone bids.

So, the choice is either 'ignore it' and hope you can snatch it at closeout, or bid and risk running into someone else who's likewise waiting for it to drop, now you're bidding against someone,.

I'd say completely disregard the idea that a lone bid escalates into huge price increases. One thing I've learned is that good names are going to sell for higher prices and they are no 'secret'. Some people feel that because they put in a bid in the last 3 minutes and it got run up to $1500, their $12 bid caused that. Monkey logic.

I loosely categorize all godaddy auction names into one of five buckets.

1) Bid

2) Bid just to keep it from the closeout vultures. If I get a couterparty, I'm not in it for much. They can have it.

3) Try to snag it right away as a $11 closeout

4) Try to snag it as a $8 closeout

5) Eh, if it drops to $5, maybe I'll care enough to buy it as a closeout to preserve the registration date, or maybe I'll just desktop snap it as a drop.

So, what happened is you mistakenly categorized a #2 name as a #3 and got beaten. It happens. It can even happen at odd times, even well after the name has been in closeout. Don't worry. This game is all about focusing on working with what have. Can't waste a single second 'grieving for what might have been' on a single closeout name. Pretty much 100% of my drops are picked up by someone else. Once in a great while, I'll recognize an old drop on the weekly Sedo or Afternic sales list. Congrats to them. Utterly irrelevant to my bottom line.