Pool.com's New 2-Phase Auction System

**guiwang** · 08-20-2004, 12:46 AM

Just got this inform:

Pool.com is pleased to announce exciting new innovations to our Deleting Domains services. These changes will bring greater customer privacy to our auction system, as well as remove most of the last minute scrambling that occurs as auctions close.

Effective August 20th, 2004, Pool.com will be launching a new auction system for its Deleting Domains service. All domains that Pool.com secures as of Friday August 20th will go into our new 2-Phase Auction System. As always, placing a backorder on a domain is free and without risk. If Pool.com secures the domain, it will enter our new auction process detailed below.

Here's how it works:

Phase I: Sealed Bid Auction (3 days)

Once we have secured one of your backordered domains, you will be entered in Phase I of our Auction System: the Sealed Bid Auction. As always, only those customers who backordered the domain prior to our obtaining it are eligible to participate in the auction.
We respect your privacy. All bids are confidential during this phase. You may enter or increase your bid at anytime during the 3-day auction.
Entering a sealed bid is done through the same interface you use to bid now. From the Deleting Domains tab and the Auctions link, simply click on the domain you want to place a Sealed Bid on, enter your Sealed Bid, and click on Bid Now. (Note: Your Sealed Bid is your actual bid, not a proxy bid.)
All Phase I auctions close at 3:45 pm GMT (11:45 am EST) the third day following acquisition of the domain name. If you have placed a bid within 20% of the highest Sealed Bid, or you are one of the top two bidders, you will progress to Phase II: the Challenger Auction. As bids can be placed anytime during these three days, there is no longer any need to beat the last minute rush, nor to monitor the auction as the auction closes in this phase.
The interface for obtaining a list of your domains, and our email notifications, will remain very similar to our current system.
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Phase II: Challenger Auction (1 day)

Soon after Phase I completes, a 1-day closed auction will start with only the top bidders.
The highest Sealed Bid from Phase I will be the starting price for the Challenger Auction. The bidder with the highest sealed bid will automatically have that bid set as the initial bid in the Challenger auction.
The Challenger auction uses the existing auction system, which utilizes Proxy bidding. Enter your Maximum Bid at anytime during the Challenger phase.
This phase of the auction is to provide a chance for serious bidders to compete for the domain.
The winner of the Challenger Auction will be awarded the domain.
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We enjoy being a market leader, and innovating to better serve you. We are committed to protecting your privacy and helping you acquire the domains you desire. We are open to any suggestions you have to improve our services. Please send us your feedback and comments to suggestions@pool.com. For more information on our new 2-Phase Auction System, please visit our FAQ's.