Namejet Question

[equity78]

Why do people on the pre-release Backorders bid more than $70 ?
It makes no sense to me to tip your hand, I mean for a domain that is bid at $300 I can still backorder for $70 and be in the same 3 day auction. Secondly now that you have bid it up you may have others bid higher than they would normally bid.
Thirdly you get people just looking to screw with you and make you pay more when they did want the domain. I mean if a good domain gets bid up great, but why tip your hand before the three day auction? At namejet you have no idea the name of the other bidders you just see how many people initially bid.

AN example I use NameJet for L-L-L.com and someone told me they were bidding on L-C-A.com just because they saw it bid at $150 before the auction started. I picked up P-C-A.com for $110 as I only had to make one bid in the last five minutes of the auction. It stayed at $70 before the auction, but if it was bid up I think people would have bid who had no interest. The guy on the L-C-A.com told me he had no interest in the domain except he thought it must be better than the other L-L-L.com being picked up for $70 or $80 because it was at $150

 

[DotWeekly]

My guess,

People either don't know any better.

Trying to "Scare" away people...

That's about all I can think of!

 

[gemstar]

Some people just jack up prices for fun.
Today I was in a bidding war for 0ss.com Sure nice name but cant think of any branding for it. My bid was at 1k and was outbid. Ended at 1.1k
The domain was at 380.00 till the final day. I wanted it for personal reasons but I would not pay more. I guess the other party wanted it badly. It may go up on auction again just like A-D-V.com This was won and relisted again. I happend to win it the second time round on Namejet

 

[Kate]

Another possible explanation is that some bidders won't be able to follow up so they just put their maximum and let it go.
There are also people in different time zones and they are sleeping while the auctions are closing.

 

[Spade]

Another possible explanation is that some bidders won't be able to follow up so they just put their maximum and let it go.
There are also people in different time zones and they are sleeping while the auctions are closing.

This is the only logical reason I can think of as well. I think its foolish, but quite a few people do it.

 

[ecalc]

This is the only logical reason I can think of as well. I think its foolish, but quite a few people do it.

I do it.
1) find good name at auction.
2) appraise name based on expected earnings.
3) place best and final bid, regardless of auction time remaining.
4) find next good name ...

I've also sniped at the last minute, not convinced that it gave me any advantage. Good names usually attract appropriate bids regardless of bid timing. Better to concentrate on finding and appraising good names, rather than trying to influence the behavior of other bidders. This method ignores emotion and psychology, but it works for me.

Names with low type-in traffic generally have proportional intrinsic value. These speculative names may attract irrational bidders and may be better candidates for sniping.