SnapNames Backordering Newbie

[xrvel]

I was trying to backorder a name with minimum amount $59.
Let's say the domain is "example.com".
I have received this e-mail

Backorder
You have successfully added these domain names for backorder. SnapNames will try to obtain them for you if and when they become available. You will be notified via email if and when we are successful. You can go directly to your "My Activity -> Pending Orders" page to view their status or change your maximum bid.
Domain Name Amount
example.com $59.00​

Now i try to open this page
https://www.snapnames.com/domain/example.com.action

First question.
But it is written that minimum bid is $59. Why the current minimum bid is still $59, if i already placed $59 bid, i guess it should be $60 or greater than $59?

Second question.
There is this text on that page

example.com is currently unavailable in the SnapNames.com inventory.​

What does it mean with "unavailable in inventory"?

Thanks

 

[cache]

multiple people back order the same domain with the same price of $59 at the beginning. Once the domain is acquired by snapnames, then it will be in the auction with $60+ prices.

 

[xrvel]

multiple people back order the same domain with the same price of $59 at the beginning. Once the domain is acquired by snapnames, then it will be in the auction with $60+ prices.

At this moment, the availability status in snapnames is "Unknown".
From the whois, it was expired on mid feb 2010.
Current status is redemption period.

• Current registrar is pacnames.com.
  Is there any preferred backordering place (SN / NJ / Pool?) according to the registrar?
• Now for example 3 more people bid $59 now, and 2 people bid $100 on it (while the domain is not acquired yet by snapnames).
  
  Once the SN acquires it, there will be a public or private auction?
  Do all 6 bidders (5 + me) can join the auction?
  Do other people who have not placed backorder before the auction can join the auction when the domain is on auction?

 

[bmugford]

Here is a basic rundown of SnapNames -

1.) If you place a backorder and no one else does then you win the domain directly if SnapNames catches it.
2.) If you place a backorder and several other people do as well, then it will go into private auction with those people. At that point no new bidders can join.
3.) The initial bid is basically just a prebid. Whether you bid $59 or $1,000 you will still be in the auction if Snap catches the domain. There is really not much point bidding higher than the minimum to start with.

As for your other questions.

Once a domain enters "Pending Delete" it is up for grabs. If it is a quality domain there will be several services competing to grab it. Snap/NJ/Pool are the most likely services to catch it.

All the services are pretty similar. If you backorder a domain without competition you win it directly. If there are multiple bidders it goes to private auction.

Brad

At this moment, the availability status in snapnames is "Unknown".
From the whois, it was expired on mid feb 2010.
Current status is redemption period.

• Current registrar is pacnames.com.
  Is there any preferred backordering place (SN / NJ / Pool?) according to the registrar?
• Now for example 3 more people bid $59 now, and 2 people bid $100 on it (while the domain is not acquired yet by snapnames).
  
  Once the SN acquires it, there will be a public or private auction?
  Do all 6 bidders (5 + me) can join the auction?
  Do other people who have not placed backorder before the auction can join the auction when the domain is on auction?

 

[xrvel]

Here is a basic rundown of SnapNames -

1.) If you place a backorder and no one else does then you win the domain directly if SnapNames catches it.
2.) If you place a backorder and several other people do as well, then it will go into private auction with those people. At that point no new bidders can join.
3.) The initial bid is basically just a prebid. Whether you bid $59 or $1,000 you will still be in the auction if Snap catches the domain. There is really not much point bidding higher than the minimum to start with.

As for your other questions.

Once a domain enters "Pending Delete" it is up for grabs. If it is a quality domain there will be several services competing to grab it. Snap/NJ/Pool are the most likely services to catch it.

All the services are pretty similar. If you backorder a domain without competition you win it directly. If there are multiple bidders it goes to private auction.

Brad

Thanks Brad, that explains really well.
I just knew that prebid won't be used on the auction (if it goes to auction) and just an initial bid, or probably i can call it as "ticket to join the auction - if any"