I would like to know how to automatically over bid the highest bidder in the auction by USD 5? I have read that this is called Proxy Bidding however I don't know how to do it practillay on GoDaddy Auction.
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GoDaddy Auction pages are already configured to do Proxy bidding. When placing your bid, we recommend going for the max amount you're willing to pay for the domain. This will automatically place your bid $5 offer the current highest bid and will automatically increment by $5 till your max amount is reached.
All you need to do is place a bid that is your max. The system will automatically increase the bidding by the next bid increment ($5 for the most part) without going up to your max unless the person you are bidding against has also set a high proxy.
Does that help?
I had this experience where I bid around $500 expecting it to proxy bid, but the next instant the bid was updated as $500 and I have been outbid by $505(all within a second) and this happened many times
Does this mean the other bidder has also placed a proxy bid higher than mine?
@PaulNicks This has happened to me a lot so I think this discussion is missing a key piece of info which is that the bid only occurs, immediately before the auction ends. This is different than simply entering your highest bid amount because when you do that, the system immediately places a bid for you, immediately, it doesn't wait until the auction is about to close. But what I think the original poster and also I are asking is, how do you set it up so it'll only bid, right before the auction ends? There has to be a way to do this because it happens all the time and the system even shows in (auto bid) when the bidder uses this functionality.
Does anyone know how to use this feature?
We do not have a tool to place a bid at the last second. People who always seem to get a bid in immediately prior to the auction close are likely using an automated script of some sort. This is why we extend the auction by 5 minutes whenever a last minute id comes in, we want to make sure bidders who are not using automated tools are able to compete fairly.