Many of you probably already saw this email from pheenix.
Not at all happy with public auctions on multiple backorders but I guess we cant expect any backorder service to do what the users want over they best way to maximize profits on each domain catch. It just isnt fair for the lazy people who didnt backorder to come in and bid on names after they see it is competition for it. Absolutely hate this backorder business model.
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Dear Friend,
We’ve been hard at work and have made further updates to our system.
1. We now support Alipay deposits!
This has been in the works for a while and we are glad that we can offer this great feature now for our customers.
2. We’ve made our auctions easier and simpler.
Effective Today Sep 7, auctions now start at the backorder price. When the auction is over, you only pay the auction ‘high bid’ amount.
Before auctions started at 0 and then people would bid. If the ‘high bid’ ended at $5 then the total price would be $5 + $18.95 = $23.95.
Moving forward, the auctions will start at $18.95. Once the auction ends, you only pay for the ‘high bid’ from the auction.
We are in a transition period so some auctions which started prior to Sep 7 still have the old architecture, however, after Sep 10 all auctions should follow this guideline.
3. Public Auctions coming September 19th.
All domains that have multiple backorders on it will now be available for Public Bidding for any backorders being released on or after 2015-09-19.
As a precondition, if someone did not have a backorder on the domain name prior to it going to auction, their minimum bid is at least $59 in order to participate in the auction.
Thanks for being a great customer and we’ll have more exciting news coming very soon.
Tan Tran
CEO Pheenix, Inc.