I came across a domain yesterday I'd like to own, and visiting the site showed the Enom holding page. Checking the whois, it has Enom's info in it, so I'm guessing it's abandoned and will be released eventually. Contact Enom to ask, and I get the recommendation to backorder it...from Namejet, their own service it appears (familiar help system led me to think this, and directly asking support a question about Namejet was answered with no denial). The support guy at Enom confirmed it was in pending release status so it might be available eventually.
Namejet claimed I could make an offer of $29 or more to get in on the name once released, with the $29 not being a proxy bid but the full amount you'd pay. I place this to get my "foot in the door", and then try to determine when it might drop. While doing so, I happen to notice the current names that were dropping (this one is not yet in that list) and how the minimum bid on *every name* is $69. I look into this further, and it seems that this is the lowest they would consider for any name that's about to drop. In addition, it's up to you to realize this and watch the name daily for it to be on the soon to release list, and up your bid to at least $69 to be considered. They will not let you know, according to the docs, but if you're not at the $69 level you won't have a shot or even know your "shot" wasn't one at all.
To me this appears to be fraudulent, or at the very least using the low price as a come-on in a bait and switch sort of way. I asked the support guy at Enom, and he basically laughed and said he'd never seen one sell at $29. Well, of course not, they won't consider $29 worth their time and ignore it's there.
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While eNom and Network Solutions are the 2 largest "providers" for NameJet, they do have other registrars on board, and some of them are probably using that $29 minimum.
The truth is, backordering even pre-release domains is quite an art and science, unless you have a very deep pocket (and don't care about money), and you have to be REALLY LUCKY to successfully get one at the minimum bid.
Co-Founder@HostHideout. Profoundly influenced by #Bauhaus, @Nameslave unrepentantly embraces #Minimalism with a bias for functionality, color theory and pixel precision: a #multimedia messenger in the McLuhan sense. His totally irrelevant M.Ed. dissertation examines Organizational Culture and Change Management. He also likes Patrik Ervell, Wong Kar-wai and IKEA.
Our domain name providers are setting their own starting bid. Currently they vary from $29 to $69. All wish list backorders start at $29, but be sure to watch those often as you will not be entered in the auction if you are below the asked minimum bid.
So it means if the domain name provider has set the minimum bid at $69 and the domain goes for bidding then there is no way you can get below $69. Nothing fraudulent about it if the other backorders are genuine and the domain is going up for auction.