status-resolved Notifying The highest bidder About Reducing the Bins

[Sophia Alice]

Hi ..

IMO , in auctions we have to give a chance for the highest bidder to claim at bin every time the bin is reduced

Let us assume a domain xyz.com is up for auction and i am the highest bidder for 50 $ ...and i may buy the same for 70$

Now op reduces the bin to 70 $ and as everyone is not in same time zone , i may not be available for claiming at bin .. Now some x guy comes in and writes sold at bin .. I simply lost it now

We really have to do something about these reduced BIN's by notifying the highest bidder and allowing atleast 24 hours to claim it and if not claimed the x guy can take it

What you guys say ?

 

[420domainer]

It sure would benefit the seller to give a heads up to the leading bidder, but not all sellers are that savvy. Not sure it must be a rule, but it should be considered by those who make the decisions here, imnho.

 

[Mahogany]

Ive been on both sides of the coin... Tough either way.

 

[deez007]

I think you have raised a valid point indeed.

It does def suck when you are the highest bidder and you end up losing the domain to a BIN offer that you have gladly paid as well.

Whilst your suggestion does make sense, I think the challenge comes in with making it a rule is for those times when it's an urgent sale. When the seller is unable to wait for 24hours and would prefer to conclude a deal as soon as possible.

 

[Eric Lyon]

I've added a poll to this discussion. We'll monitor it.

Please let us know your thoughts and opinions on this, thanks!

 

[Sophia Alice]

I think you have raised a valid point indeed.

It does def suck when you are the highest bidder and you end up losing the domain to a BIN offer that you have gladly paid as well.

Whilst your suggestion does make sense, I think the challenge comes in with making it a rule is for those times when it's an urgent sale. When the seller is unable to wait for 24hours and would prefer to conclude a deal as soon as possible.

I dont think 24 hours is a long time to wait for sellers , we can see most auctions runs for days here ..

The best point is almost 98 % of the members on namepros are both buyers and sellers at the same time , it is beneficial for both

From my example , a bin is placed and some x guy has posted at bin price . In this case the higher bidder has a chance and if he doesn't respond or show interest the domain is awarded to the x guy ..so seller has no loss here ..except that he has to wait for 24 hours .

 

[Aamsra]

This can be done via private message to the highest bidder, imo, to notify him/her. @Eric Lyon may decide whether its necessary to include it in the NamePros rules or not. Though, a keen buyer (in this case, highest bidder) will probably take care of every single bid in an auction, he/she is interested in more without wasting any chance to lose their favorite domain, (but chances exist if he/she loses the deal most probably because of time zone differences).

Thank you.

 

[Sophia Alice]

(but chances exist if he/she loses the deal most probably because of time zone differences).

That's the point

 

[Addison]

This idea is flawed:

1. I'm the second highest bidder with $40
2. You're the highest bidder with $50
3. $70 BIN is added to the auction
4. Then I bid $60 to become the highest bidder
5. And then I can accept the $70 BIN

This rule would be pointless unless it said, "the highest bidder at the time the BIN is added," but that is still based on chance and time zones regardless:

1. Before I go to sleep, I bid $40 to become the highest bidder
2. After I go to sleep, you bid $50 to become the highest bidder
3. Before I wake up in the morning, $70 BIN is added to the auction but only you can claim it in the first 24 hours

How is that fair to me?

This rule would not make anything more fair, but it would make it more complicated.

 

[Eric Lyon]

Thank you to those who provided their feedback. In light of the information and votes in this thread, we have decided to not make any changes at this time.

However, a good solution is to bid your max to avoid this from happening.

Also, we are working on a different feature that will have a similar effect to your suggestion. Stay tuned!