[NEW] Auctionpus.com - Only 16 Auctions Per Month - Premium Domains FTW!
- Thread starter charlie.simm
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I'm amazed that somebody is going to pay $2250+ for paxe.com. I sure hope they have a good development plan for that.
edited to add:
So, bidder 7 outbid himself 5 times just so he could pay $1,700 more than his first bid? I'm confused...
edited to add:
- Bidder 1 $ 1
- Bidder 1 $ 21
- Bidder 2 $ 35
- Bidder 3 $ 45
- Bidder 4 $ 55
- Bidder 5 $ 135
- Bidder 6 $ 443
- Bidder 7 $ 554
- Bidder 7 $ 1010
- Bidder 7 $ 1510
- Bidder 7 $ 1760
- Bidder 7 $ 1810
- Bidder 7 $ 2243
So, bidder 7 outbid himself 5 times just so he could pay $1,700 more than his first bid? I'm confused...
4 auctions got extended, only about 5 minutes left:
https://auctionpus.com/bid/Forum.im/
https://auctionpus.com/bid/PHP.mx/
https://auctionpus.com/bid/SwallowFalls.com/
https://auctionpus.com/bid/FunnyMistakes.com/
https://auctionpus.com/bid/Forum.im/
https://auctionpus.com/bid/PHP.mx/
https://auctionpus.com/bid/SwallowFalls.com/
https://auctionpus.com/bid/FunnyMistakes.com/
Code:
[B]Question:What Happens If a Buyer Doesn't Pay?[/B]
Auctionpus.com reserves the right to make the contact details of a non-paying
buyer available to the seller so that legal action can be taken against the
bidder who is not willing to live up to his or her legally binding obligations.
By placing a bid, you are legally obligated to make the payment within 7
calendar days if you are the winner of that auction.Not so sure if that's good enough.
Let's say some douchebag win the domain for $10K.
Seller must pay $800 (8%) to get winner's contact info.
douchebag winner do NOT pay.
Seller is out $800 and fume in his/her mouth.
Seems like something is missing or I missed something
Humm...Code:[B]Question:What Happens If a Buyer Doesn't Pay?[/B] Auctionpus.com reserves the right to make the contact details of a non-paying buyer available to the seller so that legal action can be taken against the bidder who is not willing to live up to his or her legally binding obligations. By placing a bid, you are legally obligated to make the payment within 7 calendar days if you are the winner of that auction.
Not so sure if that's good enough.
Let's say some douchebag win the domain for $10K.
Seller must pay $800 (8%) to get winner's contact info.
douchebag winner do NOT pay.
Seller is out $800 and fume in his/her mouth.
Seems like something is missing or I missed something
Yep, you missed something:
Humm...Code:[B]Question:What Happens If a Buyer Doesn't Pay?[/B] Auctionpus.com reserves the right to make the contact details of a non-paying buyer available to the seller so that legal action can be taken against the bidder who is not willing to live up to his or her legally binding obligations. By placing a bid, you are legally obligated to make the payment within 7 calendar days if you are the winner of that auction.
Not so sure if that's good enough.
Let's say some douchebag win the domain for $10K.
Seller must pay $800 (8%) to get winner's contact info.
douchebag winner do NOT pay.
Seller is out $800 and fume in his/her mouth.
Seems like something is missing or I missed something
Good point eventually after 7 days maybe or something it should default to the next bidder so the seller can still sell it if they want.
That wouldn't be fair because the price of the domain would have been influenced by the deadbeat buyer. Should one of the buyers decide to play games, I will issue a full refund to the seller and offer to auction the domain again at a later point. Needless to say, I'll go all Gary Thiem on the buyer
That was my first thought, but then where are the bids that caused his proxy to outbid? They would be part of the bid history like in eBay and Sedo etc.
As explained on the FAQ section of Auctionpus.com, it’s a proxy bidding process. As a bidder, you enter your maximum bid and the system will bid the minimum amount necessary for you to become the winner of an auction on your behalf.
In our case, bidder 7 entered his maximum bid and the system placed a $554 bid on his behalf, the minimum amount necessary for him to become the leader. Then, another bidder placed bids which were BELOW the maximum bid of bidder number 7. That’s why you see the system entering $1010, $1510 and so on for bidder number 7. It’s because another person has placed a bid which was BELOW the maximum bid of bidder 7, so the system placed a new bid on his behalf representing the minimum amount it takes for him to remain the leader.
Basically, after each "bidder vs. bidder" battle, the system displays the winning bid. Proxy bidding is used by all major auction sites and represents the best possible bidding system IMO.
Exactly
As explained on the FAQ section of Auctionpus.com, it’s a proxy bidding process. As a bidder, you enter your maximum bid and the system will bid the minimum amount necessary for you to become the winner of an auction on your behalf.
In our case, bidder 7 entered his maximum bid and the system placed a $554 bid on his behalf, the minimum amount necessary for him to become the leader. Then, another bidder placed bids which were BELOW the maximum bid of bidder number 7. That’s why you see the system entering $1010, $1510 and so on for bidder number 7. It’s because another person has placed a bid which was BELOW the maximum bid of bidder 7, so the system placed a new bid on his behalf representing the minimum amount it takes for him to remain the leader.
Basically, after each "bidder vs. bidder" battle, the system displays the winning bid. Proxy bidding is used by all major auction sites and represents the best possible bidding system IMO.
Exactly
lol - I get how proxy bidding works, but I don't see a record of the bid that caused the proxy to issue a bid of $1010, then $1510, then...$2243. As the winner I might assume there was some shenanigans going on. I should see bidder #8's bid that caused me to have to bid $1010, etc.
I buy domains on Sedo regularly and I can see the bids that caused my proxy bid to go up...
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