Drop Drop Drop you have done it again

[Glady]

Hi All
Yesterday along with others i was bidding on Drop and Netfleet for Traffic.net.au.

My last proxy was $755. When it was counting down I saw the line go red, so I checked the prices and saw that my proxy was $755 current bid was $755 so I didn’t worry. Today on there top 10 list the winning bid is $755 seems like a good buy to me.

Not so SURPRISE SURPRISE I didn’t get it, as has happened before to me. Drop has a way of doing things there way. They say that someone else had a higher proxy, if that is the case why wouldn’t the sale price and the currant bid be $776.

Has anyone else been duded by Drop, I have a few times and now I know how the do it and justify it.
Cheers

 

[soj]

Hey Glady - I'm sure there must be a logical explanation, and Drop will no doubt explain. To my knowledge and experience, the guys at Drop are straight up people.

It sounds to me that someone perhaps had an identical high proxy bid, but their's was placed prior to yours.

Cheers, Ned

 

[Drop.com.au]

Hi Glady,

When it was counting down I saw the line go red,

This is an indication that you have been outbid - You shouldn’t rely on your bid amount as an indicator as to whether you have won a domain or not.

Your bid status is identified by colour -

REEN - This colour indicates that you currently hold the winning bid. Where two bids are of equal value the winner is the first bid placed.
RED - This colour indicates that you no longer hold the winning bid. You must update your proxy amount to win the auction.
ORANGE - This colour indicates change. It appears and briefly flashes whenever there are auction updates submitted by any participants.
GREY -This colour is used for any domain row where you are not participating and have not submitted any valid bids.

The winner of Traffic.net.au had a significantly higher proxy bid placed much earlier than yours.

Their (higher) proxy bid was placed at 2012-02-14 00:17:00 (UTC Server time)

Your $755 bid was placed at 2012-02-14 01:46:27 (UTC Server time)

As to why the winning bid was $755 (and not $756)? Our proxy system works on the basis that the winning proxy bidder only ever pays what the second highest bidder was prepared to pay, NOT the second highest bid +$1

To avoid disappointment you should familiarise yourself with the way our platform works - it is subtly different from Netfleet's. Our full auction instructions can be found here

Andrew

 

[Glady]

who has ever been to a auction that you dont have to bid more than someone else

 

[TpD]

GraysOnline.
If there's 2 identical bids, whoever bid first wins the auction.