I just received an email from Godaddy.com that they are making a change to the closing rules on the Godaddy.com domain auction platform, which is to take place on Monday, 7/14/2014.
“As it stands now, any bid that is placed in the last 5 minutes of an auction auto-extends the auction by 5 minutes.”
“This will change to auto-extend to only 1 minute, and a maximum time of 5 minutes 59 seconds (5:59).”
“For example, if you place a bid on an auction that has 4:30 left, it will auto-extend this auction to 5:30.”
Personally I’m not sure why they are doing this, seems as it will only lead to more bid snipping and wind up with lower sales prices.
Also not sure w the waited until after 5pm EST on a Friday to notify customers of the change that takes place on Monday.
I just got this additional information from Godaddy:
“Any bid that increases the current price will auto extend the auction as it always has. We are making it so that a bidder who increases their proxy wont trigger the autoextend because the current price wont update. Moving from a (5m + current time left) end time to just 5-6 minutes max should not increase sniping and still gives bidders time to get a new bid in.”
I guess we will just have to see what happens on Monday
