Sedo auction

retired_member11 · Oct 2, 2007

Perhaps I misunderstand the technical detail of bidding here but why would bidder 3 bid 31,000 and then shortly thereafter bid 41,000 without seemingly needing to have done so?

http://sedo.co.uk/auction/auction_history.php?language=e&auction_id=17944&tracked=&partnerid=

Am I missing something here?

Edwin · Oct 2, 2007

They're trying to get over the reserve, I guess. Until they do, none of the bids are binding and the seller isn't required to sell.

retired_member11 · Oct 2, 2007

Edwin said:
They're trying to get over the reserve, I guess. Until they do, none of the bids are binding and the seller isn't required to sell.

OK but Edwin it quite clearly states that the reserve minimum for my example domain is 50,000. Why go up 10,000 when it is still 9,000 below the lowest potential reserve threshold. Several domains exhibit similar strange bidding patterns. The bidder should have gone to at least 50,000 in feeling for the hard reserve figure.

Or am I missing something else?

Edwin · Oct 2, 2007

argonaut said:
OK but Edwin it quite clearly states that the reserve minimum for my example domain is 50,000. Why go up 10,000 when it is still 9,000 below the lowest potential reserve threshold. Several domains exhibit similar strange bidding patterns. The bidder should have gone to at least 50,000 in feeling for the hard reserve figure.

Or am I missing something else?

Various reasons.

A) They don't trust Sedo's stated reserve (especially since this is the second attempt at selling the same domain)

B) They want to scare off other bidders

C) They want to get the action going on a buddy's name (naughty, but I'm sure it does happen from time to time)

and so on. Those are just the first 3 of many possible reasons that popped into my head.

James · Oct 2, 2007

argonaut said:
Perhaps I misunderstand the technical detail of bidding here but why would bidder 3 bid 31,000 and then shortly thereafter bid 41,000 without seemingly needing to have done so?

Because as far as I can tell, their auction platform doesn't really work too well. There is no minimum increment, so you set a minimum bid, and then a max bid... but the max bid is always the one that gets displayed. Not so good!