Dropcatch needs to increase its bidding increments.
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:
Bidding increments are too low for that price level
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.
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