For Sale Darn, Pool got it - but what now?

[Mr Webname]

Okay so Pool has got the drop on a name I want and now they want me to place a "Sealed Bid". I obviously don't know if anyone else is bidding on the name and am tempted to just sit back and wait and see of I get it for $60 but of course ... maybe .... I won't.

So what if I place a "Sealed Bid" of more than $60 and no one else is bidding - do I get it for my $60 or for my "Sealed Bid" amount?
I think I know the answer but I stopped using Pool some time ago, (and I hate to use it again but that's life).

Also what if 2 or more of us are leaving it at $60 - what happens then???

So maybe some of you who have used the new system can put be on track about this and what to expect.

 

[007]

I hate auction drop systems. I wish snapnames never would have switched to this method. I want to see a good quality drop catcher that lets you pay a flat fee, say $100 for a guaranteed win (if they catch it), or a base fee of $50 for a spot in the auction (again if they catch it).

I guess all you can do is decide if the name is worth more than $60 to you. If you think there could be other bidders, then bid more. You'll have no way of knowing if they are being honest with you though.

 

[Nameable]

Okay so Pool has got the drop on a name I want and now they want me to place a "Sealed Bid". I obviously don't know if anyone else is bidding on the name and am tempted to just sit back and wait and see of I get it for $60 but of course ... maybe .... I won't.

You *have to* put a bid on it to get to the next round. No bid, no next round for you.

So what if I place a "Sealed Bid" of more than $60 and no one else is bidding - do I get it for my $60 or for my "Sealed Bid" amount?
I think I know the answer but I stopped using Pool some time ago, (and I hate to use it again but that's life).

Bid higher than anyone and that's your price if no one else bids. You'll never know if someone else bid less. Lose in the sealed phase and you'll never get to see the closing price. Pool has eliminated what little transparency they had.

Also what if 2 or more of us are leaving it at $60 - what happens then???

You'll both get into the challenger auction and whoever bid first is listed as the high bidder. You actually have to place a bid of $60 though. No bid is no bid and you don't move on that way. This stops those ppl who were just in it to "see the outcome" or nefariously raise the price.

So maybe some of you who have used the new system can put be on track about this and what to expect.

Glad to help. I hate it too. I've learned this all the hard way.

IMHO - bidding $60 or $70 is the way to go if you know you have a low-demand name and probably aren't up against BD or another big guy who just puts huge bids in. If you have a good name that might be in demand, you've got to go higher and suck it up when the bill comes.

 

[diverge]

You *have to* put a bid on it to get to the next round. No bid, no next round for you.

You'll both get into the challenger auction and whoever bid first is listed as the high bidder. You actually have to place a bid of $60 though. No bid is no bid and you don't move on that way. This stops those ppl who were just in it to "see the outcome" or nefariously raise the price.

This is not true. No bid = $60 bid. I know from personal experience on a domain I just won this week that I did not mean to backorder. I advanced to Challenger Auction without bidding, and I won the Challenger Auction without bidding. Final price = $60. See http://www.dnforum.com/showthread.php?t=68488

 

[Nameable]

This is not true. No bid = $60 bid. I know from personal experience on a domain I just won this week that I did not mean to backorder. I advanced to Challenger Auction without bidding, and I won the Challenger Auction without bidding. Final price = $60. See http://www.dnforum.com/showthread.php?t=68488

WOW - you were lucky (well, not in your case). I've never gotten a domain under the new system without placing a bid.

I guess that only works for *REALLY* low demand names... if more than one person backorders the name, and neither bids, probably the first person to backorder it wins (someone has to).

In any case, I wouldn't recommend this strategy to Mr. Webname.

 

[Nexus]

In any case, I wouldn't recommend this strategy to Mr. Webname.

Yup, at the very LEAST bid $60 in the sealed auction. Nameable... you've summed up everything that's raced through my mind in the same situation. The only thing you didn't dwell on is the 20% rule. To advance to the challenger round (geez, this sounds like a twisted game show), you need to bet within 20% of the highest bid (or BE the highest bid). If you SMOKE the rest of the bidders by 20% or more, you WIN. If the name is a good one, smoking any "weak" first-round bids could pay off... leaving you as the ONLY one to advance.

You're rewarded for bidding high. I recently lost a SnapNames auction, which I would have very sure I'd have one in Pool's system. I imagine others would have bid at least 20% less than I would have... attempting to pay some small fee to advance... and then realizing the auction boat left without them. Instead, transparency being what it was... I was proxy bid to death. The final bidder had a high proxy that I couldn't figure the end to. This same bidder was outbid earlier on, and came back. That is the dynamic Pool's system turns on its head. Introducing a "buy it now" price possibility of your own design.

You sit there and ask yourself... if a reseller was accepting offers, and would only let you place ONE offer on the table... what would it be. THAT price... is your sealed bid. You may only be bidding against yourself, but that doesn't change the nature of the question, or the stakes with regard to your name.

~ Nexus

 

[Domainut]

Although NW is recieving less and less attention, I still find it a handy tool in determining weather there are other's interested in a domain caught by pool. Generally I check the highest NW bid for the domain *using DW top drops. If the bid is less than $60 chances are you'll have no competition at pool. If the bid is more, then it gives you a rough estimate of what you should be prepared to bid at pool.


Hope this helps.

 

[Mr Webname]

Thanks for the input guys, I've put a slightly increased figure as a sealed bid (through gritted teeth!) so we will see what happens. I hate the thought that I'm bidding against myself and that seems like unethical to me, however Nexus makes an interesting point.

 

[Nameable]

Yup, at the very LEAST bid $60 in the sealed auction. Nameable... you've summed up everything that's raced through my mind in the same situation. The only thing you didn't dwell on is the 20% rule. To advance to the challenger round (geez, this sounds like a twisted game show), you need to bet within 20% of the highest bid (or BE the highest bid). If you SMOKE the rest of the bidders by 20% or more, you WIN. If the name is a good one, smoking any "weak" first-round bids could pay off... leaving you as the ONLY one to advance.

That's CLOSE... but quoting from pool's help page http://www.pool.com/help/faq.aspx#2Phase

What is a top bidder?

A top bidder is any participant that has placed a bid within 20% of the highest Sealed Bid, or is one of the top two bidders.

There's ALWAYS someone else in that challenger auction with you. They just may not care to be there (possibly because you smoked them with your 1st round bid).

 

[Mr Webname]

There's ALWAYS someone else in that challenger auction with you. They just may not care to be there (possibly because you smoked them with your 1st round bid).

You mean anyone can jump in at this stage even though they weren't in earlier?

 

[dvdrip]

No.

Let's say you bid $1000. Next bidder is at $100. 100 bidders are at $60.
You go to challenge round with the $100 bidder.

Let's say you bid $1000. 100 bidders are at $60.
You go to challenge round with the 100 $60 bidders.

 

[contact]

Let's say you bid $1000. 100 bidders are at $60.
You go to challenge round with the 100 $60 bidders.

Are you sure it isn't just the $1000 bidder and the first one who backordered at $60?

 

[dvdrip]

I am pretty sure.

But if one of them bids $70 then all the others are out.

 

[contact]

But if one of them bids $70 then all the others are out.

That I know, but if I were to interpret the rules strictly, it would seem that the only way that 3 or more people could make it in would be if they were all within 20% of the highest bidder.

Anyone here know for sure?

 

[Theo]

This is not true. No bid = $60 bid. I know from personal experience on a domain I just won this week that I did not mean to backorder. I advanced to Challenger Auction without bidding, and I won the Challenger Auction without bidding. Final price = $60. See http://www.dnforum.com/showthread.php?t=68488

This is correct - once you enter the sealed phase your minimum default bid is actually $60.

 

[Mr Webname]

At sealed bid phase there is a heading "# of Bids" - does that indicate the number of others bidding or the number of bids, (or increases), I make?
Currently mine is showing clear but does that mean there is no one else bidding against me?

 

[Theo]

No, the sealed phase reveals nothing about whether you are bidding against others or if you have the highest bid.

 

[oberheimer]

I hate this new bidding. I have a snap on a swedish .com
This will hopefully delete next month.
Im not sure if alot of people will bid on this domain, (because it's a swedish domain)
I think i just have to wait and see.

 

[mole]

It depends on the name and expected demand for the name. For crap niche names, I would seal bid at least $70, for names I really want, I am willing to go thousands at the seal bid stage.

 

[Theo]

It depends on the name and expected demand for the name. For crap niche names, I would seal bid at least $70, for names I really want, I am willing to go thousands at the seal bid stage.

Are the crap ones CNO and the ones you'll go thousands for are .info? :-D