Dynadot

auctions The Final Minutes of a Auction Win for $22k

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Recorded this video for our documentary and I doubt it will make the cut. So I tweeted it and thought it might be a fun/interesting video to watch.

We have our max bid in for $22,000.

Three different bidders have bid over $16,000 and in the last moments a new bid comes in taking it right up to our max.

Inside info... the maximum amount that I approved with my wife was $9,800. :-o

https://twitter.com/drewwash/status/1035659311530143744
 
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The views expressed on this page by users and staff are their own, not those of NamePros.
nice name
did u buy to develop?
 
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nice name
did u buy to develop?
Yes. That is what we do 99% of the time, unless I've been drinking and get bored. 😆
 
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how did the wife take the news? Mine would would of been changing the locks :facepalm:
 
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how did the wife take the news? Mine would would of been changing the locks :facepalm:

She took this one okay.

We've had moments where we had variations in our money allocation priorities. 😊
 
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She took this one okay.

We've had moments where we had variations in our money allocation priorities. 😊
Been there and got the t shirt!

Congratulations on the winning bid, love the show of excitement when you you know got it.
 
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i don't tell my wife the purchased amount... until i sell the name :xf.wink:
 
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Nice video. Intrigued to know what the name is.. I can't see it on my phone. If you can share then please do otherwise I'll have to wait 'till I can get to a computer. Congrats on winning the auction.
 
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Nice video. Intrigued to know what the name is.. I can't see it on my phone. If you can share then please do otherwise I'll have to wait 'till I can get to a computer. Congrats on winning the auction.
Domain was photobooths.com just shy of $22k, seems kind of rich, someone bid you right up to your max, I would say foolish strategy if your watching it.
 
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Domain was photobooths.com just shy of $22k, seems kind of rich, someone bid you right up to your max, I would say foolish strategy if your watching it.

Not show if it shows, but there were 4 of us over $20k. Not 100% sure what could have changed. The losing bidder only made a single bid waiting until like $21,500 to bid.

I have had offers on the domain since the auction. I'm happy to have it at $22k. Would have preferred $9k or $12k, which were my earlier bids. But there were like 9 bidders at like $15k.

Curious what part of the strategy was foolish? Without a constructive piece to that it is just pointless criticism.
 
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Not show if it shows, but there were 4 of us over $20k. Not 100% sure what could have changed. The losing bidder only made a single bid waiting until like $21,500 to bid.

I have had offers on the domain since the auction. I'm happy to have it at $22k. Would have preferred $9k or $12k, which were my earlier bids. But there were like 9 bidders at like $15k.

Curious what part of the strategy was foolish? Without a constructive piece to that it is just pointless criticism.

I say your strategy was foolish because if you had time to watch the auction, by placing your top bid out there, you were putting a target on your back.

Basically you allowed them to keep bidding, trying to find your limit. For whatever sick reason there are bidders on godaddy that will try to go right up to your proxy, and then bail. If you have time, simply bid the lowest amount increment, and try to time them out with a distraction. Don’t just place a high proxy, and let someone keep poking it.
 
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I hope paying 22k for this name, in the plural, you have some buyers/massive development in mind?
 
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I say your strategy was foolish because if you had time to watch the auction, by placing your top bid out there, you were putting a target on your back.

Basically you allowed them to keep bidding, trying to find your limit. For whatever sick reason there are bidders on godaddy that will try to go right up to your proxy, and then bail. If you have time, simply bid the lowest amount increment, and try to time them out with a distraction. Don’t just place a high proxy, and let someone keep poking it.

Not necessarily - https://sites.hks.harvard.edu/fs/cavery/Strategic Jump Bidding in English Auctions.pdf

The constant back and forth can just rev up the competitive juices. High proxy bids can sometimes dissuade bids, if every time they do, they're automatically beat by a proxy bid. Opinions differ on this but that Harvard pdf is an interesting read.

I posted some examples in this thread - https://www.namepros.com/threads/pr...enemiesglitter-com.844844/page-3#post-4771246
 
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Not necessarily - https://sites.hks.harvard.edu/fs/cavery/Strategic Jump Bidding in English Auctions.pdf

The constant back and forth can just rev up the competitive juices. High proxy bids can sometimes dissuade bids, if every time they do, they're automatically beat by a proxy bid. Opinions differ on this but that Harvard pdf is an interesting read.

Godaddy bidders are a different breed, the bidders basically maxed out the top bid. Lots of factors in play, a lack of user id, I myself have had two four figure high bidders not pay for their auctions in the last month alone. These are people playing on the platform without the means to make payments, but bidding like ballers.

The bidders basically made this party pay their max bid based on their proxy bid.

I welcome the study, but by bidding on the platform for over a decade, I tend to trust what I have seen, and learned first hand with direct knowledge to this specific industry, not a generalization.
 
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Congratulations @drewwash ! Best of luck with that beauty.
 
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Godaddy bidders are a different breed, the bidders basically maxed out the top bid. Lots of factors in play, a lack of user id, I myself have had two four figure high bidders not pay for their auctions in the last month alone. These are people playing on the platform without the means to make payments, but bidding like ballers.

The bidders basically made this party pay their max bid based on their proxy bid.

I welcome the study, but by bidding on the platform for over a decade, I tend to trust what I have seen, and learned first hand with direct knowledge to this specific industry, not a generalization.

This is very true. We "won" a GoDaddy auction that closed above $20,000 after the two highest bidders failed to make payment. GoDaddy offered the domain to us as third highest bidder at $2,000 and change. GoDaddy and NameBio report the domain name sold at $20,000+. Don't always believe the GoDaddy sales reports you see.
 
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We "won" a GoDaddy auction that closed above $20,000 after the two highest bidders failed to make payment. GoDaddy offered the domain to us as third highest bidder at $2,000 and change.

While I'd love to get a domain at that kind of discount, ultimately we valued it for what we paid.

If someone would have bid up and failed to pay, getting it at $22k would have still been fine.

It would be nice to know who is bidding it up, or at least know how long they've had their account... but that doesn't change what I value a domain at.

Might keep the "come in second or third" in mind for domains I'm buying for the fun of it though.
 
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I say your strategy was foolish because if you had time to watch the auction, by placing your top bid out there, you were putting a target on your back.

Basically you allowed them to keep bidding, trying to find your limit. For whatever sick reason there are bidders on godaddy that will try to go right up to your proxy, and then bail. If you have time, simply bid the lowest amount increment, and try to time them out with a distraction. Don’t just place a high proxy, and let someone keep poking it.

How does another bidder see/know when their bid is right below yours? In order to make the decision to stop bidding? Is there some tell-tail sign for that?
 
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Great business model, I have just watched all nine of your videos that you've added to the challenge this morning, very inspirational. Cheers and keep it up
 
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Great business model, I have just watched all nine of your videos that you've added to the challenge this morning, very inspirational. Cheers and keep it up

No time right now to watch all 9 videos, thanks for your inspiration. :)
 
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I have never been really interested in the details of retail domain sales, but you certainly make it seem exciting. :)

...

I have had offers on the domain since the auction. I'm happy to have it at $22k....

photobooths.com
Photo Booths? Awesome, I have a long-time friend from school who runs modern 'Photo Booths' on weekends. they make really good money once you figure out how to get clients for (corporate and other) parties.
 
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Godaddy bidders are a different breed, the bidders basically maxed out the top bid. Lots of factors in play, a lack of user id, I myself have had two four figure high bidders not pay for their auctions in the last month alone. These are people playing on the platform without the means to make payments, but bidding like ballers.

The bidders basically made this party pay their max bid based on their proxy bid.

I welcome the study, but by bidding on the platform for over a decade, I tend to trust what I have seen, and learned first hand with direct knowledge to this specific industry, not a generalization.

Doesn't the domain go to the next highest bidder on GD, if the top bidder fails to pay?
 
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How does another bidder see/know when their bid is right below yours? In order to make the decision to stop bidding? Is there some tell-tail sign for that?

No there is not and @Joe Styler and @Paul Nicks will back that up. So when someone gets their proxy bid hit, it's just an assumption that they were playing games that some want to believe or pontificate as fact. But the truth is nobody knows anything, because we all don't even have a bidder id, so there are no facts merely speculation.
 
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