Why this reactive.com auction is taking so long

Dropcatch needs to increase its bidding increments.

Image of reactive.com domain bidding at DropCatch with $50 increments
These bidding increments are too small.

There’s a heated domain auction going on at DropCatch.com right now. Bidders have placed over 350 bids and counting for reactive.com, pushing the price up over $135,000.

Like all domain auction platforms, DropCatch automatically extends the auction if there are bids in the final minutes. This makes the auction drag on and on, and there’s a good chance it will still be underway when you read this.

Peter Askew has been tweeting about the auction. He must be getting tired:

As I discussed with him on Twitter, this auction is taking much longer than it needs to because of the company’s bidding increments.

DropCatch’s bidding increments start at $5 but top out at $50 once a domain hits $500. So when bidder demands bid $136,050, just $50 over luxtea‘s bid, it reset the clock to five minutes.

Compare this to DropCatch’s competitors.

SnapNames and NameJet have 14 steps. They hit $50 increments at the $1,000 mark. By the time an auction hits $10,000, it’s up to $500, and $5,000 after $100k.

GoDaddy has 8 steps, starting at $5 for domains below $500. It’s $25 by the $1,000 mark, $250 by the $10,000 mark, and $1,000 on auctions over $50k.

I suspect that most of Dropcatch’s auctions had lower prices when the service launched years ago. With escalating bid prices, the company should consider raising its bidding increments.

Post link: Why this reactive.com auction is taking so long

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