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How does Snapnames work?

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Hello,

I backordered a name with snapnames a few days ago and i am thinking that snapnames is going to catch the name and try to auction it first then if no one bids for it then i'm going to receive the name.

Is that the way snapnames work or differently?
 
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If you are the only person who backordered that name, you get it as soon as they catch it. Auctions take place only if there are at least 2 bidders interested in the same domain.
 
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Thanks Kath,
 
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