questions on backordering & auctions: pool, snapnames, enom (strategy?)
i'm new to the domain backordering scene, but have done my research and read through posts here. i still have some questions due to lack of experience and am hoping some of you who've been through it a few times
here's the specifics of my situation: i'm currently looking at getting a .com name that has expired to start a business. the name is ideal for this business, so i'm willing to spend a good amount of money on it (think hundreds, but not a few thousand). there has never been a real site on the .com, nor on any of the other extensions (some of which are available, some of which have a squatter that has it for sale), and i've been keeping track of the name for the past 3 years or so.
the .com domain is currently in REDEMPTIONPERIOD status (it *was* registered with enom), and i've placed backorders with pool, snapnames, and even godaddy (and will do so on enom/clubdrop when the option is available with them).
having said all this, i do want to save money if at all possible, but i don't want to be left out of any possible auction, and this is where i'm concerned.
as far as i know, most of these services are more or less the same- if the service secures the domain name and i am the only on who backordered it with them, i will get it at the minimum ($60 or $30, depending). if more than just myself are backordering, it will then move to a private auction between those who have backordered (but have heard varying things after this).
here are my questions:
if/when the domain name gets to an auction, it seems like you can put a max bid (that for places like pool is non-retractable) and have the service proxy bid for you whenever someone bids over the 'current' price. is it better to just decide what you want to pay and set that maximum to begin with, or incrementally bid as you get outbid?
in snapnames specifically, you can set a maxbid even when you initially place the backorder. does this mean you have no chance to change that maximum after the initial backorder? or if/when it goes to auction are you then free to do as you please? if the latter is the case, then should i just place the minimum $60 initially and wait till a possible auction to raise?
am i guaranteed a spot in any auction for the name if i backorder it? i've heard specifically about pool that you need to first submit a max bid, then be one of the top two max bids, THEN go on to the final auction. is this true?
i've heard quite a bit about the questionable practices used by some of these companies, so any nuance you could point out that should be important to know beforehand will be very much appreciated.
the bottom line is that i really want the name but don't want to be fleeced by the system unnecessarily.
if more details are needed please let me know. please speak freely from any point of view, and i apologize for the newbie-ness of this post.
if the latter is the case, then should i just place the minimum $60 initially and wait till a possible auction to raise?
This is your best option and since proxy bidding is supported you should proxy bid of your highest limit. Timing is also a factor if you bid your highest amount at the initial stage of the auction, someone who also want the domain as bad as you might manage to bid higher as he still have a couple days to workout money matters. I would recommend to wait when there is 6-12hrs left before the end of auction and bid your highest amount.
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