Posts Tagged ‘domains at’

How can you judge this craziness?


Hello and Assalamo Alaikum,

Before I write anything I just wanted to make things clear that I have no hard feelings for the winning bidder (mkrules) of the domain name which was recently concluded at NameJet.

It was no reserve auction and the minimum bid to participate in that auction was at regular price $69. If someone mistypes the minimum bid before the auction gets start, you are free to withdraw and delete from your account. In this case, the bidder placed $7,777 as his starting/minimum bid even before the auction gets underway. I thought he will change the price because as far as I have tracked this guy is purely domainer and not a newbie or enduser.

As the auction got started, no one had the courage to bid higher than that and eventually mkrules was declared as winner. I think he is going to pay for that as he owns several thousand of domain names.

Now the interesting question is what was the need of placing such high bid even though it was no reserve auction and he could have got for a lot lesser.

The only reason I can think off could be he mistakenly typed that bid but that doesn’t seems to be the reason because there is another auction going on for for which the same bidder has given initial bid of $5,555 whereas he could have given $239 to get into auction.

Once again I wanted to clear that I have nothing against that bidder but if he really needed that domain than at least he should have placed initial bid with $69 and $239 respectively in both auctions and later he may have placed proxy bid of $7,777 or whatever he is comfortable at. In my opinion, he would have still got for a lower price because the next highest bidder was at $1,000.

Can any one explain this madness as to why someone is throwing away his money for no good reason. At least I can’t see or think of any 😉