Confused about the way Domain Alert Backordering works

[David G]

I have not used GoDaddy Domain Alert Pro Backordering ($18.99) in a long time but in the past when I used it and assuming GD got the name it meant I was guaranteed the name right away for the $18.99 backorder fee. So when I used it this time and GD got the name successfully I was surprised that I never really won the name when this email arrived:

"The domain name(s) you have backordered is now listed for auction at auction....Because you had an existing backorder on the domain(s), we have made the opening bid of $10.00 on your behalf. If the domain name sells for the opening bid price, you will receive the domain name plus a 1-year registration. If the domain name receives a bid from another bidder, you will be notified via email that you have been outbid. You can then choose to place a bid on the domain name or apply your backorder to another name. Any bid amount exceeding $10.00 will be an additional charge (you still receive the 1-year renewal, included in your backorder fee). If you are outbid for the domain, you will be allowed to apply your backorder credit to another domain."

Does that mean if someone else bids say $16 possibly in the last few seconds they get the name and if so how could I bid more to win it (what if it's a last minute bid, how can I rely on getting email from them I was outbid in the last minute and my replying in time) especially if I do not monitor my emal closely. How long does the process last? Is there a way I could pay more than $10 and get it now without an auction, such as say $40 or whatever? Thanks.

[bmugford]

If there is more than one backorder it goes to private 7 day auction.

The final price would be the winning bid - $10. If it sells for $45 you would owe an additional $35 for example.

If you don't win the domain you can reassign the backorder credit to another domain.

The domain should be listed under "Watching" when you login to GoDaddy auctions. If there is a "P" by the domain, it indicates it is a private auction.

Brad

[David G]

Thanks Brad, please excuse my lack of knowledge on this. What does the minus sign $10 mean (do I lose $10 if I don't win?) and also how do I put it in a private auction?

If there is more than one backorder it goes to private 7 day auction.

The final price would be the winning bid - $10. If it sells for $45 you would owe an additional $35 for example.

If you don't win the domain you can reassign the backorder credit to another domain.

The domain should be listed under "Watching" when you login to GoDaddy auctions. If there is a "P" by the domain, it indicates it is a private auction.

Brad

[bmugford]

You are credited $10 for the backorder fee. So if you win the domain for $10 you don't have to pay any additional fees, the backorder credit takes care of it.
If you win it for any amount above $10 you have to pay the difference. So if you win it for $20 you would need to pay $10 extra on top of the $10 backorder credit.

It goes to private 7 day auction automatically if there is more than 1 backorder. If there is only 1 backorder you get it directly without auction.

Brad