question-answered How does snapnames work?

[MrMDMF]

Feels like a silly question but confirmation would be appreciated.

You have number of bidders and a pre-order price, I assume whoever has the highest pre-order bid by the 6th of Oct in this example gets the domain?

If multiple people have the same highest bid does it go to another auction or is it decided another way?

 

[discobull]

If there's only one bidder by Oct 6, at 9PM, that person gets the domain for $79. If there's more than one bidder, then a 3 day auction starts even if one person has a higher bid than everyone else. The only people allowed to bid are the ones who entered bids by the deadline and whatever bids were entered becomes their starting proxy bid. Opening bids can be raised over the 3 days of the auction so it really doesn't matter what bid you enter by the deadline, but you need to bid a minimum of $79 for the right to participate in the auction.

 

[MrMDMF]

If there's only one bidder by Oct 6, at 9PM, that person gets the domain for $79. If there's more than one bidder, then a 3 day auction starts even if one person has a higher bid than everyone else. The only people allowed to bid are the ones who entered bids by the deadline and whatever bids were entered becomes their starting proxy bid. Opening bids can be raised over the 3 days of the auction so it really doesn't matter what bid you enter by the deadline, but you need to bid a minimum of $79 for the right to participate in the auction.

Super informative, thank you so much!

 

[fardomai]

If there's only one bidder by Oct 6, at 9PM, that person gets the domain for $79.

This applied for drop-catching for backorder, not the expired auction ...

For SN/NJ expired auctions, even if there’s only one bidder during the pre-sale, you can still place a bid on the domain once it enters the 3-day auction phase.

Check out this example: the pre-sale time has passed, and the domain is now in a 3-day auction, yet you can still bid on it

 

[Hashim]

If there's only one bidder by Oct 6, at 9PM, that person gets the domain for $79. If there's more than one bidder, then a 3 day auction starts even if one person has a higher bid than everyone else. The only people allowed to bid are the ones who entered bids by the deadline and whatever bids were entered becomes their starting proxy bid. Opening bids can be raised over the 3 days of the auction so it really doesn't matter what bid you enter by the deadline, but you need to bid a minimum of $79 for the right to participate in the auction.

Am I to understand that this basically makes any starting bid over $79 pointless, at least for Available Soon auctions? Makes me wonder why it's a bid system at all and Snapnames doesn't just make it a "participate in auction" button. Is there ever any good reason to set a really high starting bid?