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Proxy Bid Vs Active Bidding

Labeled as advice in Domain Buying and Selling Discussion, started by TauseefKhan, Sep 28, 2020

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  1. TauseefKhan

    TauseefKhan Established Member

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    This post is inspired by All GoDaddy auctions occur when I sleep. What can I do? by @newdawndomains - He says this "Even if I put a proxy bid in, it can be outbid in that final hour when it seems there's some last-minute bidding going on.

    And, this is the case with a lot of domain investors. Putting a proxy bid is like putting a BIN on your domain name - You just don't know if it's right or wrong. And, as a result of putting proxy-bid, investors lose domain names that they could have won had the proxy-bid was higher than the final bid amount. And, if you've put a high proxy-bid - you miss the chance to let it go due to change of mind.

    So, just share your experience relating to proxy bid - is it worth placing a proxy bid? Or
    You need to actively monitor auction to give yourself a domain-winning-chance or to let it go.

     
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  2. Sutruk

    Sutruk Top Contributor VIP

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    Placing a proxy bid hours or days in advance is like exploding the auction in advance. The final price of the auction can go to the roof, while alerting a lot of bidders that may had not noticed the domain until you placed the proxy bid.
    Two proxy bids on the same auction, and you can forget about the domain, unless you place a proxy bid of $5,000 for a not so premium domain.
    If you are serious about acquiring a domain at an auction, never place a proxy bid in advance.
    In my opinion...
     
    Last edited: Sep 28, 2020
  3. TauseefKhan

    TauseefKhan Established Member

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    @Sutruk Thanks for sharing your thoughts! Agree with what you've said. With the kind of competition going on in the aftermarket - proxy bids should not be the option to catch a domain name.
     
  4. Samer

    Samer Top Contributor VIP

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    i hate Proxy bidding : ( Automatic “match” .. :wtf:

    Active bidding feels more real; not against AFK

    The human element, feels safer prevent fraud. All fine dandy GD reports sales; but,, credible?

    Feel live Bidding require presence;prev. frauds when have make split decision developing bids
     
    Last edited: Sep 29, 2020
  5. Mister Funsky

    Mister Funsky Top Contributor VIP

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    I agree with Sutruk above...it is best not to proxy bid unless there is no other option. There are many out there, myself inclued, that watch for the most active names in case I missed one that is superior.

    Too many proxy bids and the bots take notice...with the bottom auto bid looking like it is in the 250+/- range once a bot locks in, a 40 proxy placed early on will likely not win.

    The trick is not to bid and hope it goes into closeout...but the problem with that is (insert name of company(s) we don't like here) and those with special access and/or multiple bidding bots will get the name a fraction of a second before it can fully drop to closeout status. We sit there waiting for the 'domain will be available soon' phrase to go away and the closeout availability to appear...it never, or rarely, does if it is a decent name.
     
  6. TauseefKhan

    TauseefKhan Established Member

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    @Mister Funsky - well-explained. An average bidder is against several odds. This is the reason why more and more investors are trying to acquire domain names privately.
     

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