For Sale Pool bidding.

[actnow]

I just received noticed that I entered the second round of bidding at Pool on

VideoMonitors.com.​

It says one bid so far. And, the current bid price is $ 880.

So, why am I in the second round?

Pool really doesn't tell you what you bid on the first round.
But, I speculate it is between $ 60 and $ 100.
(I refuse to bid blindly.)

Therefore, one emotional bidder must have bid $ 880. And, a couple
of us are in the $ 60 to $ 100 range.

Is anyone else in the second round of bidding on this domain?

 

[mk001]

Maybe two or more people put their proxy bids in on the second round straight away? Instantly running the top bidder up to $880.

You must have been within 20% of the highest sealed bid to go forward. Unless Pool changed their auction, I mean, system, again.

Edit

One bid so far.....I have no idea. :/

 

[hifi]

Their rule is either you're within 20% of the top bid or if you're one of the top 2 bidders.

 

[FusionX]

Their rule is either you're within 20% of the top bid or if you're one of the top 2 bidders.

Ditto..

So one bidder is at $880 and then you are at $60 (or whatever your bid). May be others also, if they bid the same as you.

FusionX

 

[mk001]

Perfectly taylored to suck maximum cash.

They only need to make the minimum sealed bid an up front, non refundable fee and it will be perfect!

 

[mole]

You mean someone puts up $880 that the first round and you put in less than $100 and can still qualify? hmm..

 

[actnow]

You mean someone puts up $880 that the first round and you put in less than $100 and can still qualify? hmm..

That is exactly why I created the thread.

It baffles me!!!

 

[bidawinner]

whats baffling about it? You are talking about POOL

 

[hifi]

It is stated clearly in their FAQ:

====
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.
====

If there are 10 bidders in Phase 1, one placed a bid of $880, one at $90, and the other at $60. Then the $880 and $90 bidders will go to Phase 2.

 

[clemzonguy]

If everyone bids $60 then everyone can participate in phase II

 

[mk001]

If everyone bids $60 then everyone can participate in phase II

This should be encouraged.

I totally missed the huge 'ORRRRRR, you are one of the top two bidders'

I have now witnessed this. Medicore domain, one whopper bid. arty:

 

[Theo]

Just ditch pool as I did, you'll sleep better.

 

[David G]

Surprising Pool has any customers left at all what with the depth of the confusion. In many threads about their new auction type it seems like virtually no one understands it. Switching as they did must be costing them immense lost business.

 

[mk001]

I think regardless of how much Pool hones their system to pull maximum dollar from their customers, as long as they have results they will have customers.

I also think Pool has gambling ghosts putting whopper bids on mediocre names in the hope real customers will go for it. You have to think this with their system.

 

[clemzonguy]

Just ditch pool as I did, you'll sleep better.

How do you sleep better knowing that someone else got the name you were going after?
Sounds to me like you didn't want it that bad to begin with.

Even if 2 people do not bid there will be 20 others who will be blackmailed into the system.
I don't think any amount of protest will even affect how they do business.