Bidding on a domain name

Under what circumstances is a domain name put up for auction?
When the domain name has received at least 2 backorders from different users and that we successfully recovered it, its final allocation will be in the form of an auction.
How is the starting bid set?
The starting bid is set based on the domain name’s oldest backorder. If no customer places a higher bid during auction, the domain name is assigned at the backorder price to the customer who placed the first order.
How is a bid’s base price set?
On our platform, domain names are auctioned at a fixed starting price, the price of a regular backorder (see "How much does a backorder cost?").
How can you tell who is taking part in an auction?
In order to maintain anonymity, we hide participants' identities. However, you can view each bid’s real-time history by clicking on the bids number counter below the current price. There you'll find the exact time each bid was placed, and its amount, as well as the participant's number.
How does outbidding work?
When you participate in an auction, the amount you enter is your maximum price. The actual bid will be automatically set to the lowest amount needed to outbid other bidders. If during the sale another user outbids you, a new bid is automatically made in your name, as long as the amount involved does not exceed your maximum. If you've already placed a bid, you can raise or lower your maximum bid without affecting your current bid or triggering a notification to other participants. However, you cannot lower your maximum bid to below your current bid.

Note

All prices shown exclude taxes. 20% VAT is added to the price of a winning bid.

What are auction increments?
The bid amount must be a whole number and must exceed the previous bid by at least the following amounts: 
Current bid Minimum increment
From €1000 €100
From €1 to €49 €1
From €50 to €99 €5
From €100 to €499 €10
From €500 to €999 €50

Note

All prices shown exclude taxes. 20% VAT is added to the price of a winning bid.

How does the minimum increment work?
On Youdot, the minimum increment is the amount automatically added to the auction price every time someone increases the bid on a domain name. The sum varies depending on the value of the current bid.

Let’s take the example of a domain name that has an opening bid of €20 and on which someone has placed a maximum bid of €30. The person currently holds a bid of €20; you enter the auction and place a bid of €21. Youdot’s system examines the competing bidders: as your bid is not the highest, the first bidder still has the lead, and their current bid rises to €22: this amount matches your €21 bid, raised by the minimum increment of, in this case, €1.

To ensure that you win the domain name, you then place a second bid of €50. So (for now) you beat the maximum bid of €30 and lead the auction with €31: this corresponds to your competitor’s €30 maximum bid, plus the €1 minimum increment. Your competitor then places a new bid of €70. Your €50 bid has now been beaten, and the new bid wins with €55: this amount is your maximum bid of €50, plus the minimum increment, which is now €5.
How can I tell if my bid is the highest?
You can see it on the auction page itself. It will state: "You hold the highest bid".
How long does an auction run?
Auctions run for at least 7 days and always end on Mondays and Thursdays at 3:00 pm (CEST). Each new increased bid that is placed during the final 30 seconds extends the auction time by 30 seconds.
How does an auction end?
Once the auction has ended, each bidder is emailed the outcome.

Note

In the event that the winner fails to pay, they will be banned from the platform, and all of their bids will be cancelled. The domain name will then be reassigned to the next highest bidder. All higher bids from the former winner that were cancelled will also be deducted from the price.

How do I pay for my winning bid?
The value of the winning bid will automatically be debited using the payment method saved on your account.
Can I automate my bids?
All bids are automatic. When you set your price, it is that of your maximum bid. Thus, your actual bid will be automatically set to the lowest amount needed to outbid other bidders. If during the sale another user outbids you, a new bid will automatically be placed in your name as long as its value doesn't exceed the maximum price you set. If you've already placed a bid, you can increase or decrease your maximum price without affecting your current bid or triggering a notification to other participants.

Note

You cannot lower your maximum bid to a value that is below your current bid.

How do I withdraw my bid?
Your bid is binding; it cannot be withdrawn.
I set a maximum bid of €100 and the auction ended at €100 but I wasn't the winner. Why?
In the event that two bids tie (if the highest bidders entered the same maximum bid), the first person to have placed the bid wins the auction.
Was this article helpful?
2 out of 5 found this helpful

Comments

0 comments

Article is closed for comments.