NameJet Questions

[joe_socal2000]

I am looking at Namejet and following some auctions and not sure I understand what I am seeing so I am looking for help. Here is an example of a listing I was looking at for the domain shoegeek.com


http://www.namejet.com/Pages/Auctions/BackorderDetails.aspx?domainname=shoegeek.com&cat=

High Bid:$121 USD Reserve AuctionClosing Time: <input id="ctl00_ContentPlaceHolder1_hdnEndDate" name="ctl00$ContentPlaceHolder1$hdnEndDate" value="Jan. 1, 2013 8:00 PM" type="hidden">
Type: Pre-Release
Your Last Bid: $0 USD
Bid History: 72 bids

Does this mean that the high bidder now owns the domain for $121?

If so, I am a little puzzled because there were 72 bids or bidders and it started with an opening bid of $59 or $69. If there are so many bidders, why did it go for just $121? When I first looked at the listing, I assumed that the domain would sell for much more based on the number of bidders who signed up. Can you elaborate on this for me, please?

 

[varlov]

Does this mean that the high bidder now owns the domain for $121?

No, will start a 3 days private auction (72 people) and the highest bid so far is $121.
The name could sell for much more.

 

[katherine]

You need to check if the reserve was met. The high bidder may not win the domain otherwise.

Right now I am the sole bidder in an auction at NJ, having placed the only backorder. The reserve is not met, but the amount/range is undisclosed. Annoying.
I don't feel like I am going to increase my bid.

 

[joe_socal2000]

No, will start a 3 days private auction (72 people) and the highest bid so far is $121.
The name could sell for much more.

Thank you for taking the time to reply. If the opening bid is $69 and the mere fact that two or more people are placing a backorder on the domain....what is the point of even bidding at all let alone up to $121?

 

[varlov]

If noone bids higher, the name will go to the bidder with $121 bid. (if there is no a reserve price)

Thank you for taking the time to reply. If the opening bid is $69 and the mere fact that two or more people are placing a backorder on the domain....what is the point of even bidding at all let alone up to $121?