Wondering how GoDaddy auctions work? If your answer is yes, then I am here to help you out. If you want to purchase a domain from Godaddy auctions, then the first thing definitely would be to understand how the platform works.
This way, you will be able to place better bids. And stand a chance to win auctions. Anyway, let’s just dive into the post without wasting much of the time:
How GoDaddy auctions work?
If you have found an expired domain name that you want to purchase from Godaddy auction. Then the first thing that you will need to do is click on the domain name and see the time left and end date.
The end date for the domain name can be anything. From one week to few minutes. It depends on for how long the domain name is available on Godaddy auctions.
If you find an expired domain name you want listed on a GoDaddy.com auction, you can click on the name to see the time left and end date. The end date can be anywhere from a few minutes left to the full 11 days left. If you want to place a bid on the name, and you have a GoDaddy auction account, you can enter the amount you’re willing to pay for the name. Bidding starts at $12 and goes up in $5 increments. If there are no bids for a domain and you enter $100 as your max bid, you will be listed as the high bidder for the name at a price of $12. If another person decides to also bid on the name, GoDaddy will automatically raise your bid by the next $5 increment to outbid the other person all the way up to your maximum bid if necessary.
Related: How Long Does Godaddy Hold Expired Domains?
Personally, I prefer to wait until the auction is almost over before I’ll place my first bid on the domain name I want. This will help prevent drawing extra attention to the auction, which could bring in other bidders who wouldn’t see the auction otherwise. This will also give you more control of increasing your bid if necessary since you’ll most likely be watching the auction yourself after placing your last minute bid.
One aspect that makes GoDaddy Expired Domain Auctions unique is the way the end time gets expanded. In most internet auctions, people wait to the last minute to place there bid and you can be outbid at the last second if your max bid isn’t high enough. To prevent this, GoDaddy added a feature where if any bids are placed in the last two minutes of an auction the end time will also be extended by two minutes. This extension kicks in every time a last minute bid is placed, so the auction end time will keep increasing as long as two or more people are bidding on a name.