The domain auction platform provides proxy bidding as a tool to make it simpler and less time-consuming for buyers to bid on domains in auctions.
You enter the maximum amount you wish to bid on a domain that is up for auction, and the auction platform will automatically place a bid on your behalf for the lowest amount possible up to your maximum bid using an incremental bidding system. This allows you to remain the highest bidder for the auction until your maximum has been reached, and your proxy bid will remain confidential. To use the auction platform’s proxy bidding system, follow these steps:
- Log into your account.
- Search for the domain you wish to bid on from the list of domains that are up for auction.
- Click on the domain name and enter the maximum price you are willing to bid for the domain in the field “Your maximum bid.”
- Click on “Submit Bid.”
- If you are the highest bidder when the auction closes, you are the winner. When you win the auction using proxy bidding, you pay only the lowest possible winning bid, which may not necessarily be your maximum bid.
Please note: When proxy bidding is used, it may appear as if one bidder has outbid another by the exact same amount.
For example: Bidder 1 has set a maximum proxy bid of 500 USD, and bidder 2 places a bid that matches that amount. As bidder 1 placed his/her bid earlier, it has priority and will be the current highest bid. Bidder 2 must then place a new, higher bid of ≥501 USD to continue in the auction. This rule applies to any auction with two or more participants.