Last week the Namejet auction for the domain name eDoctor.com that had sold for $43,310 was cancelled and a new private auction was started. The domain eDoctor.com was dropped by pharmaceutical company GlaxoSmithKline.
The winning bidder didn’t pay the winning price within the 28 days provided by Namejet after the auction ended and that costed Namejet $24,629. Why?
Because the new auction ended at $18,681. That is not even half the money of the first auction. The final price was way lower and of course there were fewer bids. Only 144 bidders from the original 199 bidders joined the private auction. That means that 54 (plus the non paying bidder) didn’t bother to even join the auction the second time. The first auction had 261 bids while the second one only 228 bids.
The new winning bidder paid about $13,000 less than what he was willing to pay the first time. Winning bidder with the nickname “hxcai” had a $31,800 maximum bid in the first auction.
Here are the top six bidders in the first auction:
Bidders with bold didn’t make a significant bid in the second auction. Instead here are the top bidders from the second auction:
It seems that most bidders don’t like to bid on domains that have come from a non-paying bidder auction. And I can’t blame them. You spend time bidding and the auction is cancelled. You feel that this can happen again or maybe you have spend your budget on another domain. Your proxy has been revealed so you are afraid someone will push you close to it. Can you think any more reasons?