question NameJet backorder

[Logic97]

I placed my first backorder bid today.
There is one other bidder at $69 and I made a bid of $79
The title of the page in red is 'The reserve has not been met for this auction'.

Reserve Range: Between $501 and $1,000

Does the reserve have to be met? I placed the minimum bid

Thanks!

 

[lansespirit]

Must met the reserve if you want to get the domain.

 

[anantj]

It appears to be an auction of a private seller's domain that's already in public auction

 

[anantj]

Does the reserve have to be met? I placed the minimum bid

Sorry, I missed answering your original question:

For the domain to sell, yes the reserve HAS to be met. On Namejet, they display a range within which, lies the auction reserve. You might hit reserve for as little as $501 or as much as $999 (for your specific auction).
Now (or around the end of the auction) enter the maximum amount you're willing to pay for this domain and submit it. If the reserve is lower than your max, then your max bid will have been set to just above the reserve. If your max is lower than the reserve, then your max becomes the highest (but ultimately, unsuccessful) bid on the auction.

Example 1:

Reserve is $701 (Unknown to you)
Current bid is $499
Your max bid is $675

When you submit the bid for $675, that becomes the highest bid but the reserve hasn't been met yet so the domain will not sell if your bid is the highest bid at the end of the auction.

Example 2:

Reserve is $701 (Unknown to you)
Current bid is $499
Your max bid is $775

When you submit the bid for $775, the current highest bid becomes $701and the reserve has been met. So the domain WILL sell if your bid is the highest bid at the end of the auction. If anyone else bids before the end of the auction, namejet will automatically bid for you up to a max of $775 after which you are one of the losing bidders in the auction.

Hope this clarifies how this works

 

[Logic97]

Sorry, I missed answering your original question:

For the domain to sell, yes the reserve HAS to be met. On Namejet, they display a range within which, lies the auction reserve. You might hit reserve for as little as $501 or as much as $999 (for your specific auction).
Now (or around the end of the auction) enter the maximum amount you're willing to pay for this domain and submit it. If the reserve is lower than your max, then your max bid will have been set to just above the reserve. If your max is lower than the reserve, then your max becomes the highest (but ultimately, unsuccessful) bid on the auction.

Example 1:

Reserve is $701 (Unknown to you)
Current bid is $499
Your max bid is $675

When you submit the bid for $675, that becomes the highest bid but the reserve hasn't been met yet so the domain will not sell if your bid is the highest bid at the end of the auction.

Example 2:

Reserve is $701 (Unknown to you)
Current bid is $499
Your max bid is $775

When you submit the bid for $775, the current highest bid becomes $701and the reserve has been met. So the domain WILL sell if your bid is the highest bid at the end of the auction. If anyone else bids before the end of the auction, namejet will automatically bid for you up to a max of $775 after which you are one of the losing bidders in the auction.

Hope this clarifies how this works

Thank you! That is a great explanation