This is a great domain name, but SnapNames obviously know how much I'm willing to bid, so what's to stop them simply upping the bid continuously? After all, they can always re-auction the domain if they do manage to call my bluff ...
Does anyone have any first-hand experience of dealing with SnapNames?
I don't think I ever had one go over $60 though.
I think I had a competing bidder on one occasion, but that might have been me, as I signed up with a couple backordering services to increase my chances of getting the domain back.
Who was the guy who kept out bidding you? just curious because if its one of the 4 i think it is - it dosent suprise me it went over $10k in the first day.
Seffy
In this kind of auction, all the action is usually left to the last minute.
The strange thing people [the same people!] will pay more in the auction than they would offer if the same name was marked for sale by a private owner
Having said that most of the players are domainers / speculators / investors so the prices often don't go as high as if a single end user wanted the name.
re. leaving it will the last minute. - if there is a bid in the last 5 minutes the auctions get extended for an additional 5 minutes until there is a final 5 minutes without any bids.
I won the auction, and the domain name is mine. My budget was unlimited for this domain, so I knew I'd get it. In the end it went for less than I expected.
Seffy: The guy who tried to win was called 'Typical <snip>'. Do you know this bidder? Is he the CEO of Snapnames? ; >
Pedent: I bid immediately to see what sort of competition I'd face. $5,000 to start with was no big deal. In my industry I NEVER thought I'd get keyword-keyword.com, so the price was irrelevant. The site will easily make it to #1 for the keywords concerned and will earn 10x the domain cost in less than a year.
Plus, I'm in the UK, so after the auction had closed I just halved the price to see the £ Sterling price.
re. leaving it will the last minute. - if there is a bid in the last 5 minutes the auctions get extended for an additional 5 minutes until there is a final 5 minutes without any bids.
I know that some people are disciplined, having a highest price that they won't go over and sticking to it. Others, though, can get gradually pushed up by the bidding. Bid over their 'maximum' and force them to make a decision in five minutes and there's less of a chance that they'll revise their 'maximum' upwards.
At least, that's what I thought the reasoning behind bidding late was.
<edit> I think i know the domain and the price. Must be an interesting business to be in! Congrats on the name.
P.S. Thanks for not mentioning the conclusion of your hunch or analysis.
[edited by: Webwork at 2:25 pm (utc) on Oct. 5, 2006]
"Interesting" is certainly one way to describe it!
Tell me, was the sale price made public somewhere, or are you simply good at guessing?
