Proxy bid - how to?

[Ash]

Hi netfleet,

Can you please tell me where I can set up a proxy bid on snapper auctions? First time bidding today and couldn't find it. Thanks.

Ash.

 

[AnthonyP]

Hi netfleet,

Can you please tell me where I can set up a proxy bid on snapper auctions? First time bidding today and couldn't find it. Thanks.

Ash.

Ash, all bids are proxy bids. If you are the highest bidder at the close of the auction you pay $1 more than the next highest bidder.

 

[Ash]

Thanks Anthony, so if I bid $500 on a domain that figure won't show - it will just add $1 to the current highest bid until someone bids higher than my proxy (or if there proxy is higher)?

 

[AnthonyP]

Thanks Anthony, so if I bid $500 on a domain that figure won't show - it will just add $1 to the current highest bid until someone bids higher than my proxy (or if there proxy is higher)?

If you add $500 and there is no other bid it will show as $10, This also makes you eligible for the first bidder discount of $10. So if the auction ended at this point you pay $11 for the auction and then you get a $11 discount for being the first bidder and you pay the registration fee of $49.95 (quoted here including GST).

If another party bids $300 then you are still winning and will be paying $291 ($301-$10 first bidders discount) plus GST, plus the registration fee.

If another party offers $800, then you are no longer the winner but are the underbidder at $500 and they will be paying $501 plus GST plus registration.

 

[Ash]

Thanks for the very clear explanation Anthony, understand it now.