Namecheap Garbage Auctions - Something Shady

[Lauren Stephens]

So, I have been bidding on namecheap auctions. Namecheap owns all these names, they are not privately owned. I won an auction for a domain name and then I noticed that the screen now says that they extended it (presumably so they could get more money!). Has anyone else had this happen? Is this normal? I have done a lot of auctions and have never seen this on any other platform! ps namecheap extended the auction time TWICE.

 

[Karbust]

Namecheap auctions will last as long as bigs keep popping up within 5 minutes. If there are no more bids in 5 minutes, it ends and it goes to the highest bidder.

 

[Lauren Stephens]

Namecheap auctions will last as long as bigs keep popping up within 5 minutes. If there are no more bids in 5 minutes, it ends and it goes to the highest bidder.

Yes they just told me that. WTF is the point of an auction if you just allow the bidding to go on and on so namecheap can get more money. I believe it is fraudulent to advertise a specific end time, then they text me repeatedly to keep me bidding, and then extend the deadline because people come in late.

 

[Lauren Stephens]

Namecheap auctions will last as long as bigs keep popping up within 5 minutes. If there are no more bids in 5 minutes, it ends and it goes to the highest bidder.

Are you affiliated with namecheap? I noticed you just joined and replied.

 

[Karbust]

Are you affiliated with namecheap? I noticed you just joined and replied.

Actually, no, I was searching something from google, entered and saw this topic on the category, decided to reply as I've used Namecheap auctions in the past.

I feel the same way as you, already lost a few domains even under 60 seconds because the price keeps increasing by distracted bidders...

 

[Jv1999]

i remember nc not extending auctions even when people bid at the last second.

but I guess now that's changed and they're following suit with all the others that extend 5 mins if someone places a bid.

 

[Lauren Stephens]

i remember nc not extending auctions even when people bid at the last second.

but I guess now that's changed and they're following suit with all the others that extend 5 mins if someone places a bid.

It should never be extended. It was extended nearly 20 minutes total. It was extended at least twice, possibly three times. No warning of this practice whatsoever, and their claim that they do it to avoid snipers is bogus, since my auction was the one that was sniped by someone else. No, not sour grapes over that.... sour grapes for the fact that I won the bid otherwise but since at the last minute the name shows up at the top of the list, people jumped in at the last minute.

 

[Karbust]

It should never be extended. It was extended nearly 20 minutes total. It was extended at least twice, possibly three times. No warning of this practice whatsoever, and their claim that they do it to avoid snipers is bogus, since my auction was the one that was sniped by someone else. No, not sour grapes over that.... sour grapes for the fact that I won the bid otherwise but since at the last minute the name shows up at the top of the list, people jumped in at the last minute.

Lost a few auctions last week because of that...

Unfortunately there's nothing we can do...

 

[twiki]

It should never be extended. It was extended nearly 20 minutes total. It was extended at least twice, possibly three times. No warning of this practice whatsoever, and their claim that they do it to avoid snipers is bogus, since my auction was the one that was sniped by someone else. No, not sour grapes over that.... sour grapes for the fact that I won the bid otherwise but since at the last minute the name shows up at the top of the list, people jumped in at the last minute.

Most auctions do the same.

Example: GD auctions

 

[DrJacoby]

So, I have been bidding on namecheap auctions. Namecheap owns all these names, they are not privately owned. I won an auction for a domain name and then I noticed that the screen now says that they extended it (presumably so they could get more money!). Has anyone else had this happen? Is this normal? I have done a lot of auctions and have never seen this on any other platform! ps namecheap extended the auction time TWICE.

Show attachment 246058

You've been a Namepros member for more than 20(!) years, and you act surprised that an auction platform extends an auction when higher bids come in the last 5 minutes, LOL! Every platform does this.

 

[D Haynes]

As others have said, a lot of (if not all) major auction platforms operate like this. I'm sure they would tell you it's to stop sniping but let's face it it's because it makes them more money. Seen auctions extended hundreds of times sometimes for many hours. Bots bidding through API exacerbate the issue.

 

[D Haynes]

I think one issue with this form is offen times the auction is extended when there is another bid even if it doesn't exceed the maximum (proxy) bid. So you can have a high bid 50 bucks with a maximum bid of 100 bucks and if someone else bids 60 it'll automatically counter with 70 and add 5 mins. I think it should only extend when the 100 max bid is exceeded.

 

[Jv1999]

You've been a Namepros member for more than 20(!) years, and you act surprised that an auction platform extends an auction when higher bids come in the last 5 minutes, LOL! Every platform does this.

I did want to say something like that.
But then I remembered the first NC auction i participated in last Spring -- there was no 5 min extension. It was weird, the feeling.

It was like, when the timer ran out... whoever clicked faster got it :P. It's not necessarily a price thing, but more like, you're bidding in incrememnts of $1 - $5, and whoever just clicks last got it...

Tbf, I don't like that system at all... Because you don't get a "ok i give up" you just get a "dang he clicked 1 nanosecond faster than me..."

 

[Lauren Stephens]

I did want to say something like that.
But then I remembered the first NC auction i participated in last Spring -- there was no 5 min extension. It was weird, the feeling.

It was like, when the timer ran out... whoever clicked faster got it :P. It's not necessarily a price thing, but more like, you're bidding in incrememnts of $1 - $5, and whoever just clicks last got it...

Tbf, I don't like that system at all... Because you don't get a "ok i give up" you just get a "dang he clicked 1 nanosecond faster than me..."

If they have a stated ending time, then that is when it should be ending. Sure, there is probably some sniping going on (that is what happened to me) but to keep extending and keep extending until people stop bidding altogether is not an auction at all.

 

[Peak.Domains]

I like how you went from having no clue how the auctions work, and within moments of learning something new, you've already decided it's a terrible idea and not how auctions should ever work and accused someone of having some secret connection to NameCheap... Simply because the standard, common way that auctions work didn't benefit you in that moment.

Do you think it's better if someone can use a bot (or even no bot) to snipe names at the very last second? Where it becomes a game of chance / reflexes / hoping your connection is a bit closer to the server so you can get in at the last millisecond? Is that really better than the name going to whomever is willing to pay the most for it? Did you not even consider this as a reason? That's wild.

If you were outbid in the final millisecond in an auction with a hard close, you would be here calling that system garbage. "What, this person was able to buy this name for only $38?!? But it's worth so much more! I would have paid more if they would have extended the auction!!!! Auctions should always extend when someone is willing to keep bidding!!"

It's a pretty great system for the people who want a name and are willing to pay more than the other bidders for it. Seems to me that's much more in line with the spirit of an auction.

It's very common for auctions to have a close time that gets extended if anyone bids in the final minutes. It's not some wacky NameCheap thing, and it doesn't make them garbage.

Heritage Auctions has extensions for people who bid near the end. Sotheby's does it, too: "Each lot closes in one minute increments and will be extended by two minutes if a bid is placed within the final minute before the lot's scheduled closing time."

but to keep extending and keep extending until people stop bidding altogether is not an auction at all.

You're right, it's a terrible system and not an auction at all.

You aren't just salty that you have to be willing to pay more than the other bidders to win an auction. That's definitely not what's going on here, right? This is actually about the integrity of the auction process and not just you ruminating for days over having to pay more than other bidders?

You should absolutely tell Sotheby's how auctions should work, after posting about it for days and still not coming up with the obvious reasons why auctions run this way other than "its just NameCheap being greedy!"

Yeah, of course Namecheap wants an auction to sell for the highest price that someone is willing to pay for it, but you're completely oblivious to the other half of that equation - that someone else is willing to pay more for the domain, and that's the point of an auction. It's not a carnival game to see who can hit the button fastest to the time limit.

 

[Lauren Stephens]

I like how you went from having no clue how the auctions work, and within moments of learning something new, you've already decided it's a terrible idea and not how auctions should ever work and accused someone of having some secret connection to NameCheap... Simply because the standard, common way that auctions work didn't benefit you in that moment.

Do you think it's better if someone can use a bot (or even no bot) to snipe names at the very last second? Where it becomes a game of chance / reflexes / hoping your connection is a bit closer to the server so you can get in at the last millisecond? Is that really better than the name going to whomever is willing to pay the most for it? Did you not even consider this as a reason? That's wild.

If you were outbid in the final millisecond in an auction with a hard close, you would be here calling that system garbage. "What, this person was able to buy this name for only $38?!? But it's worth so much more! I would have paid more if they would have extended the auction!!!! Auctions should always extend when someone is willing to keep bidding!!"

It's a pretty great system for the people who want a name and are willing to pay more than the other bidders for it. Seems to me that's much more in line with the spirit of an auction.

It's very common for auctions to have a close time that gets extended if anyone bids in the final minutes. It's not some wacky NameCheap thing, and it doesn't make them garbage.

Heritage Auctions has extensions for people who bid near the end. Sotheby's does it, too: "Each lot closes in one minute increments and will be extended by two minutes if a bid is placed within the final minute before the lot's scheduled closing time."



You're right, it's a terrible system and not an auction at all.

You aren't just salty that you have to be willing to pay more than the other bidders to win an auction. That's definitely not what's going on here, right? This is actually about the integrity of the auction process and not just you ruminating for days over having to pay more than other bidders?

You should absolutely tell Sotheby's how auctions should work, after posting about it for days and still not coming up with the obvious reasons why auctions run this way other than "its just NameCheap being greedy!"

Yeah, of course Namecheap wants an auction to sell for the highest price that someone is willing to pay for it, but you're completely oblivious to the other half of that equation - that someone else is willing to pay more for the domain, and that's the point of an auction. It's not a carnival game to see who can hit the button fastest to the time limit.

20-30 minute extensions are hardly the same as one minute. basically just keeping it open til no one else shows up to bid. no, it does not make any sense. sure maybe this industry accepts it, but that doesnt make it make sense. by the way if someone "wants to pay more" they should show up on time to do so if it is that important to them.

 

[Lauren Stephens]

I like how you went from having no clue how the auctions work, and within moments of learning something new, you've already decided it's a terrible idea and not how auctions should ever work and accused someone of having some secret connection to NameCheap... Simply because the standard, common way that auctions work didn't benefit you in that moment.

Do you think it's better if someone can use a bot (or even no bot) to snipe names at the very last second? Where it becomes a game of chance / reflexes / hoping your connection is a bit closer to the server so you can get in at the last millisecond? Is that really better than the name going to whomever is willing to pay the most for it? Did you not even consider this as a reason? That's wild.

If you were outbid in the final millisecond in an auction with a hard close, you would be here calling that system garbage. "What, this person was able to buy this name for only $38?!? But it's worth so much more! I would have paid more if they would have extended the auction!!!! Auctions should always extend when someone is willing to keep bidding!!"

It's a pretty great system for the people who want a name and are willing to pay more than the other bidders for it. Seems to me that's much more in line with the spirit of an auction.

It's very common for auctions to have a close time that gets extended if anyone bids in the final minutes. It's not some wacky NameCheap thing, and it doesn't make them garbage.

Heritage Auctions has extensions for people who bid near the end. Sotheby's does it, too: "Each lot closes in one minute increments and will be extended by two minutes if a bid is placed within the final minute before the lot's scheduled closing time."



You're right, it's a terrible system and not an auction at all.

You aren't just salty that you have to be willing to pay more than the other bidders to win an auction. That's definitely not what's going on here, right? This is actually about the integrity of the auction process and not just you ruminating for days over having to pay more than other bidders?

You should absolutely tell Sotheby's how auctions should work, after posting about it for days and still not coming up with the obvious reasons why auctions run this way other than "its just NameCheap being greedy!"

Yeah, of course Namecheap wants an auction to sell for the highest price that someone is willing to pay for it, but you're completely oblivious to the other half of that equation - that someone else is willing to pay more for the domain, and that's the point of an auction. It's not a carnival game to see who can hit the button fastest to the time limit.

I like how you went from having no clue how the auctions work, and within moments of learning something new, you've already decided it's a terrible idea and not how auctions should ever work and accused someone of having some secret connection to NameCheap... Simply because the standard, common way that auctions work didn't benefit you in that moment.

Do you think it's better if someone can use a bot (or even no bot) to snipe names at the very last second? Where it becomes a game of chance / reflexes / hoping your connection is a bit closer to the server so you can get in at the last millisecond? Is that really better than the name going to whomever is willing to pay the most for it? Did you not even consider this as a reason? That's wild.

If you were outbid in the final millisecond in an auction with a hard close, you would be here calling that system garbage. "What, this person was able to buy this name for only $38?!? But it's worth so much more! I would have paid more if they would have extended the auction!!!! Auctions should always extend when someone is willing to keep bidding!!"

It's a pretty great system for the people who want a name and are willing to pay more than the other bidders for it. Seems to me that's much more in line with the spirit of an auction.

It's very common for auctions to have a close time that gets extended if anyone bids in the final minutes. It's not some wacky NameCheap thing, and it doesn't make them garbage.

Heritage Auctions has extensions for people who bid near the end. Sotheby's does it, too: "Each lot closes in one minute increments and will be extended by two minutes if a bid is placed within the final minute before the lot's scheduled closing time."



You're right, it's a terrible system and not an auction at all.

You aren't just salty that you have to be willing to pay more than the other bidders to win an auction. That's definitely not what's going on here, right? This is actually about the integrity of the auction process and not just you ruminating for days over having to pay more than other bidders?

You should absolutely tell Sotheby's how auctions should work, after posting about it for days and still not coming up with the obvious reasons why auctions run this way other than "its just NameCheap being greedy!"

Yeah, of course Namecheap wants an auction to sell for the highest price that someone is willing to pay for it, but you're completely oblivious to the other half of that equation - that someone else is willing to pay more for the domain, and that's the point of an auction. It's not a carnival game to see who can hit the button fastest to the time limit.

not sure if youre aware, but their auctions are already weeks long! now we have to add another 20 to 30 minutes? lol sure, so legit!

 

[Peak.Domains]

not sure if youre aware, but their auctions are already weeks long! now we have to add another 20 to 30 minutes? lol sure, so legit!

It's only another 20, 30 minutes if someone is willing to bid higher than you. Otherwise, it ends after 5 additional minutes. You can always use proxy bids if you have something better to do at 2am.

It's unfair for you to call this "shady" or "garbage". You're not only misunderstanding things initially, but also misrepresenting them after they've been explained to you.

Not good.

Bad thread.

The auction does not extend by 20-30 minutes if someone bids in the last 5 minutes. It extends for a few minutes each time someone places a new bid, to give the other bidders time to increase their bids.

So that the domain can go to the person who values it the most, not the person whose lucky enough to have their bid go through at the correct second.

I promise you, there would be infinitely more complaints if it had a hard close. It would cause tons of issues. People would have bids go through at the exact same moment, everyone would feel scammed and ripped off every single auction.

What did BarkLabs.com end up selling for?

 

[Lauren Stephens]

It's only another 20, 30 minutes if someone is willing to bid higher than you. Otherwise, it ends after 5 additional minutes. You can always use proxy bids if you have something better to do at 2am

they have two weeks or more to bid... but yeah lets have people show up at the last minute just to bid up the price for 20 minutes so namecheap can make more money.... i guess now i know why i see so many cancelled auctions on there! anyways, have a good evening! ps you would think they would be a lot more upfront about it. i didnt see any notice of it.

 

[anantj]

Yes they just told me that. WTF is the point of an auction if you just allow the bidding to go on and on so namecheap can get more money. I believe it is fraudulent to advertise a specific end time, then they text me repeatedly to keep me bidding, and then extend the deadline because people come in late.

The point and intent is to prevent domain sniping. This used to be a big problem on a lot of auction platforms where folks would literally bid at the last second and win the auction. This prevents other interested parties from counter-bidding on the domain. This is what happens in physical auctions as well (the time extension might differ though).

 

[anantj]

I won the bid otherwise but since at the last minute the name shows up at the top of the list, people jumped in at the last minute

Obviously, you did not "win". You put in an interim high bid but you do not win auctions until they are truly over (i.e. you have the winning bid when the auction time runs out).

 

[anantj]

Sure, there is probably some sniping going

There was a LOT of sniping that used to happen before this time extension. In fact, bidders with API access simply set up automatic bidding for the last second thereby winning auctions even if there were other users who would have bid higher than the winning bid

(that is what happened to me)

No, that's not what happened to you. The major intent of the time extension is to prevent sniping. How can you call it sniping when you have 5 minutes to rebid?

 

[Jv1999]

20-30 minute extensions are hardly the same as one minute. basically just keeping it open til no one else shows up to bid. no, it does not make any sense. sure maybe this industry accepts it, but that doesnt make it make sense. by the way if someone "wants to pay more" they should show up on time to do so if it is that important to them.

If you get overwhelmed waiting 20 to 30 mins, then... you can always place a proxy bid for your max you'd spend on the domain, and if they outbid you, I guess who cares because you weren't going to pay that much anyway

 

[anantj]

I like how you went from having no clue how the auctions work, and within moments of learning something new, you've already decided it's a terrible idea and not how auctions should ever work and accused someone of having some secret connection to NameCheap... Simply because the standard, common way that auctions work didn't benefit you in that moment.

Do you think it's better if someone can use a bot (or even no bot) to snipe names at the very last second? Where it becomes a game of chance / reflexes / hoping your connection is a bit closer to the server so you can get in at the last millisecond? Is that really better than the name going to whomever is willing to pay the most for it? Did you not even consider this as a reason? That's wild.

If you were outbid in the final millisecond in an auction with a hard close, you would be here calling that system garbage. "What, this person was able to buy this name for only $38?!? But it's worth so much more! I would have paid more if they would have extended the auction!!!! Auctions should always extend when someone is willing to keep bidding!!"

It's a pretty great system for the people who want a name and are willing to pay more than the other bidders for it. Seems to me that's much more in line with the spirit of an auction.

It's very common for auctions to have a close time that gets extended if anyone bids in the final minutes. It's not some wacky NameCheap thing, and it doesn't make them garbage.

Heritage Auctions has extensions for people who bid near the end. Sotheby's does it, too: "Each lot closes in one minute increments and will be extended by two minutes if a bid is placed within the final minute before the lot's scheduled closing time."



You're right, it's a terrible system and not an auction at all.

You aren't just salty that you have to be willing to pay more than the other bidders to win an auction. That's definitely not what's going on here, right? This is actually about the integrity of the auction process and not just you ruminating for days over having to pay more than other bidders?

You should absolutely tell Sotheby's how auctions should work, after posting about it for days and still not coming up with the obvious reasons why auctions run this way other than "its just NameCheap being greedy!"

Yeah, of course Namecheap wants an auction to sell for the highest price that someone is willing to pay for it, but you're completely oblivious to the other half of that equation - that someone else is willing to pay more for the domain, and that's the point of an auction. It's not a carnival game to see who can hit the button fastest to the time limit.

Great points. Namepros essentially endorses and enforces this as well through the requirement of "auction ends x hours after last bid". That boils down to the same mechanics of auction extension due to a late bid.

 

[Jv1999]

So i just tried it right now with an auction. The extension is going past 20 mins.

So I put in a huge proxy bid.

The bots are adding 10 dollar increments every 5 mins and not going past my proxy bid

So if you get bored, take a break by putting in a 50 or so proxy bid and you get 15 mins off.