DAN.com

Have you ever impulsively overpaid in an auction? Which was it and what happened after?

Labeled as advice in General Domain Discussion, started by Save Breach, Sep 29, 2020

Replies:
13
Views:
637

  1. Save Breach

    Save Breach Established Member

    Posts:
    638
    Likes Received:
    1,024
    Looking back into the past, I feel I have overpaid for certain acquisitions and impulsively made too high bids in certain auctions. However, this got me thinking about more experienced domainers if they have gone through any impulsively high bids on any auctions, much higher than they could possibly sell it for, or, they just over estimated the value of the domain.

    I can remember one such case of @Rick Schwartz where he overpaid a huge amount for flowers.mobi ($200k) then sold it for $6.5k.

    Have you ever gotten into such extreme bidding wars or, just overestimated the value of any domains while in an auction?

    How was the experience and were you still able to make a profit out of it? What are the key takeaways from those experiences?
     
    Last edited: Sep 29, 2020
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. blogspotter

    blogspotter Top Contributor VIP ★★★★★★★★★★

    Posts:
    1,208
    Likes Received:
    1,257
    I still do, so now I proxy bid and forget about it.

    Only problem is when I entered an extra 0 in a proxybid, twice and Auction platforms don't allow me to edit the bid.
    One time I overpaid 4X over my budget, but that's life
    Have done bigger Mistakes
     
  3. Save Breach

    Save Breach Established Member

    Posts:
    638
    Likes Received:
    1,024
    That sucks for sure. I would say GoDaddy auctions and most auction platforms have an (intentionally) bad UI so such errors are inevitable somehow.

    Cheers
     
    Last edited: Sep 29, 2020
  4. Rich

    Rich Top Contributor VIP ★★★★★★★★★★

    Posts:
    1,306
    Likes Received:
    1,570
    Got bid up on many auctions that later sold for more, maybe I've been lucky in not overestimating. Still holding recalls dot us (old development project) and Sierra networks dot com at xxx cost from when I was a noob. I tend not to set a budget but a range...orn dot net was the first I paid over 1k it sold for 8k still awaiting a happy ending for no limit hold em dot com
     
  5. Ostrados

    Ostrados EpicName.com VIP

    Posts:
    4,736
    Likes Received:
    1,952
    Yes once I was bidding on a nice dropped .io domain that I should not pay more that $500 to $1000 for it, but after the $1000 mark I went in a bidding war with someone.. bid after bid with 1-2 min intervals.. I was not thinking just placing bids.. I reached max bid of $4500 then there was silence for like 10 minutes, during these 10 minutes I started thinking and said to my self wt* I am doing and felt deep regret and I wished that the other bidder will place another bid.. which is exactly what happened, I was outbid again (luckly) and felt great relief! :whistle:
     
  6. Silentptnr

    Silentptnr Top Contributor VIP

    Posts:
    15,430
    Likes Received:
    43,387
    I just won drill.us for $355. I think I might have overpaid but got caught up in bidding. Fortunately, I think I will sell it for a profit at some time in the future. :glasses:
     
  7. pb

    pb Established Member ★★★★★★★★★★

    Posts:
    699
    Likes Received:
    1,750
    Been there so many times... :)

    One example a bit outside the framed question was when one guy listed a domain on a forum and said "taking offers over 1k only". Just for shits and giggles I sent him a 500 offer which he promptly accepted. I was like WTF, but had to pay up. I dropped the domain one or two years later. :xf.rolleyes:
     
  8. Ostrados

    Ostrados EpicName.com VIP

    Posts:
    4,736
    Likes Received:
    1,952
    I imagine the impression on your face when he accepted
    :ROFL:
     
  9. blogspotter

    blogspotter Top Contributor VIP ★★★★★★★★★★

    Posts:
    1,208
    Likes Received:
    1,257
    Sorry Bruhhh
    drilll.png
     
  10. CraigD

    CraigD 360promo.com VIP

    Posts:
    1,546
    Likes Received:
    2,634
    I recently paid 4-figure BIN prices for two domains because I didn't want to alert owner I was interested or get into a bidding war if my offer was pushed to public auction.
     
  11. Silentptnr

    Silentptnr Top Contributor VIP

    Posts:
    15,430
    Likes Received:
    43,387
  12. blogspotter

    blogspotter Top Contributor VIP ★★★★★★★★★★

    Posts:
    1,208
    Likes Received:
    1,257
    I thought American's loves hand tools and that it might be a good buy at 50 bucks and then there were so many bidder I went fomo mode.
     
  13. Silentptnr

    Silentptnr Top Contributor VIP

    Posts:
    15,430
    Likes Received:
    43,387
    It's a solid name. I'm glad to have it. But I do think I paid too much. I will try to make something good happen with it.
     
  14. blogspotter

    blogspotter Top Contributor VIP ★★★★★★★★★★

    Posts:
    1,208
    Likes Received:
    1,257
    If I knew it was you, I would have stopped sooner :)
     

Want to reply or ask your own question?

It only takes a minute to sign up – and it's free!
NameWorth
  1. NamePros uses cookies and similar technologies. By using this site, you are agreeing to our privacy policy, terms, and use of cookies.
    Dismiss Notice
Loading...