"Minimum Bid Amount" Auctions Are Different from "Reserve" Auctions
These domains are typically offered by a private seller or sponsoring Registrar. If a Minimum Bid Amount has been established prior to the auction starting, this amount is displayed on the bidding page for that domain. These amounts are not established by NameJet; the domain owner has defined the minimum amount they will accept for the domain.
If no bidders enter the minimum bid prior to the backorder deadline, the domain will not go to auction. A bidder can enter a backorder at less than the published Minimum Bid Amount; however, unless the Minimum Bid Amount is met (or exceeded) during the auction, the domain will not be sold.
Minimum Bid Amount auctions work similar to Reserve auctions, but unlike Reserve auctions, the Minimum Bid Amount is disclosed to all auction participants. There is an "R" warning icon that will show you are below the minimum bid, but you will be included in the auction. Once the auction starts, bidders will know in advance how much the minimum is, and can determine whether or not they wish to bid for the domain.
Minimum Bid Amounts
Please note the Minimum Bid Amount is not required prior to the auction starting, nor are you required to increase your bid when the auction is open. All bidders with accounts in good standing, who have entered the minimum backorder bid (typically $69), will be included when the auction starts. If no bidders enter the minimum bid prior to the backorder deadline, the domain will not go to auction. The ""R"" icon on your backorder list will be your indicator the minimum bid has not been met. The Minimum Bid Amount must be met once the auctions starts in order for the domain to be sold.
After the auction starts, you may see that the current high bid is $200, even though the bid page displays "Minimum Bid: $400 USD". You can enter $210 (the next bid increment), and your bid will be accepted. If you enter $350, that amount is accepted and you would be high bidder at $350. However, if the Minimum Bid Amount of $400 is not met during the auction, the domain will not be awarded.
Also, once the auction is live, if you enter a proxy bid that is above the Minimum Bid Amount (such as $500 in this example), we will only bid up to the minimum amount required, and you would be winning at that Minimum Bid Amount (in this case $400). If you should later be outbid by another NameJet bidder, the system will automatically continue to bid on your behalf up to your proxy amount. You will always receive an email if you are outbid, with the option to increase your bid if you are still interested in doing so while the auction is ongoing.
When the auction closes, if the Minimum Bid Amount has been met (or exceeded) the domain will be awarded to the highest bidder. Domains that do not meet that amount will remain unsold.