What are ppl thinking on GD Auctions? (Tip) Last minute bids.

[tomcarl]

What are people thinking when they wait for the very last second to place their minimum 5 dollar increment bid on a GD auction? Is this some type of trolling or what? It makes no sense to me, especially when they're doing it against a proxy bid and it extends the auction another 5 minutes. There is no sniping, this isn't ebay.

Word of advice for any new investors here who do this on GD auctions, when you keep placing your bid at the very last second....All that you are doing is keeping the auction open longer and exposing it to others who will take notice of what is going on, they will come in and drive up the price even more. Place your highest bid and let it ride. Because the more you keep extending the auction, the greater the chance someone new is going to come along and bid. You don't want that.

Example:

You know your limit for SomeExpiringDomain.com is $75, the current bid is $15 with 5 minutes left and its just you and Bidder #2

You try to be slick, and with 20 seconds left, you bid $20, then get outbid immediately by a proxy but now there's 5 minutes added to the countdown...

Again, you do the same thing.

Now look who it is, Bidder #3 who wouldn't have even seen the name 10 minutes ago. "Oh hey, that's a decent name" and they bid, now driving up the price for everybody because of "fools interest" from seeing a mini-bidding war. = Bad.

I personally wait for 5 minutes left before I place a bid, no more, no less because it makes no sense otherwise. And I place my max, if someone outbids it, I have to have discipline and let it go. Don't get emotionally attached to a domain. There's another domain right around the corner.

Good luck

 

[discobull]

What are people thinking when they wait for the very last second to place their minimum 5 dollar increment bid on a GD auction? Is this some type of trolling or what? It makes no sense to me, especially when they're doing it against a proxy bid and it extends the auction another 5 minutes. There is no sniping, this isn't ebay.

Word of advice for any new investors here who do this on GD auctions, when you keep placing your bid at the very last second....All that you are doing is keeping the auction open longer and exposing it to others who will take notice of what is going on, they will come in and drive up the price even more. Place your highest bid and let it ride. Because the more you keep extending the auction, the greater the chance someone new is going to come along and bid. You don't want that.

Example:

You know your limit for SomeExpiringDomain.com is $75, the current bid is $15 with 5 minutes left and its just you and Bidder #2

You try to be slick, and with 20 seconds left, you bid $20, then get outbid immediately by a proxy but now there's 5 minutes added to the countdown...

Again, you do the same thing.

Now look who it is, Bidder #3 who wouldn't have even seen the name 10 minutes ago. "Oh hey, that's a decent name" and they bid, now driving up the price for everybody because of "fools interest" from seeing a mini-bidding war. = Bad.

I personally wait for 5 minutes left before I place a bid, no more, no less because it makes no sense otherwise. And I place my max, if someone outbids it, I have to have discipline and let it go. Don't get emotionally attached to a domain. There's another domain right around the corner.

Good luck

This happens a lot with automated bidding. Bids are placed in the last seconds and the price gets bid up by $5 every 5 minutes. This can sometimes go on for hours especially when one bot is bidding against another bot. It only ends when the bot has either won or it has reached its upper bidding limit. It's really annoying!