How does bidding work?
Every time you place a bid, the system sets your current bid based on what minimum amount is needed for you to become the highest bidder. If your bid was higher than the next minimum bid (c.f. How do next minimum bids work?), then the system converts it into an automatic bid (c.f. What is an automatic bid?). This helps you win the auction without spending more money than you should.
This does not apply when the reserve price (c.f. What is a reserve price?) is not met. In that case, the amount of your bid is used directly and set as your current bid.
What is an automatic bid?
An automatic bid (or auto-bid) helps you protect your leading position when somebody else tries to outbid you. The system automatically places bids on your behalf until you win the auction or the amount of your auto-bid is exceeded. Using an automatic bid is ideal when you can not attend the final hours of the auction.
What is a reserve price?
A reserve price is the minimum amount a seller is willing to accept for a domain. If this price isn't met during the auction, then the domain will not be sold. Reserve prices are private and will not be disclosed. After placing a bid, you will be notified on screen if the reserve price is met.
How do next minimum bids work?
The next minimum bid is the amount you need to use in order for your bid to be valid. The system will use the following increments based on what the current bid is:
How can I set an automatic bid?
You can set an automatic bid when the reserve price is met (or there is no reserve) and you are the highest bidder. You can do this by placing a bid with an amount higher than the next minimum bid required. The system will then make you the highest bidder (c.f. How does bidding work?) and convert the initial amount into an automatic bid.
Bidding when reserve is not met
When you enter a bid, the system compares it to the reserve price. If your bid is lower than the reserve price, you become the highest bidder with the amount you entered.
Bidding when reserve is met
Once the reserve price is met, every bid you place will be converted into an automatic bid (unless you enter exactly the next minimum bid required). This means that the system will automatically place bids on your behalf using the next minimum bid required.
Do I have to pay a commission?
No, as a buyer you do not have to pay any commission.
Do I have to pay value-added tax (VAT)?
Yes, in Europe you must pay value-added tax on all goods. VAT rates may vary depending on the country you and the seller of the domain are operating from, and whether you are a consumer or a business. Please contact your local government or tax advisor for more details.
What if someone bids the exact same amount as my automatic bid?
If this happens, you will become the highest bidder with the amount of your automatic bid since you placed it first.
Can I edit my bid?
You can only edit automatic bids. Every bid you place is a legal contract to buy the domain name, it and can thus not be edited. You can edit your automatic bid by bidding again on the same domain.
Can other bidders see my automatic bid?
No, nobody can see your automatic bid.
Can I withdraw my bid?
No. Every bid you place is a legal contract to buy the domain name, it and can thus not be withdrawn.
If someone bids in the last minute of the auction, the end time will be extended by 5 minutes. This protects sellers from getting lower prices and buyers from getting outbid on domains they really want.
Can I pay in installments?
Some of the auctioned domains can be paid in installments. This means that the seller has agreed to these terms of course. You can then pay in 6 to 12 monthly installments with no extra charge. Once you win an auction, our team will contact you about the payment options. Send us an email at firstname.lastname@example.org if you have any question or need further information.
Do you show my name when I place a bid?
No, both buyers and sellers are private at all times. Buyers and sellers can only see a bidder ID in the bidding history.
I need to change my credentials.
It is not possible to change your details since they have been verified. Contact us at email@example.com if you need to change your phone number or email address.
Why a strong 3-step verification process?
The domain names available for auction are very valuable. Undeveloped's 3-step verification process guarantees the ownership and price of each domain, as well as the legitimacy of every buyer. This ensures the safety of every party involved.
How can I pay for my domain?
All transactions at €5,000 or above must be paid through bank wire. Transactions under €5,000 can be paid by Credit Card, Paypal, bank wire and other local options like iDeal and SoFort Banking.
Can I see the reserve price of a domain?
Reserve prices are private and will never be disclosed. You will be notified as a bidder once the reserve price is met.
What happens if I win a lot?
We will contact you within 24 hours after the lot has ended and give you instructions about the payment and transfer process.
Do you create a legal document between seller and buyer?
Yes, a legal contract between the buyer and seller will be drafted once a domain name has been sold. This ensures that the agreement is binding and completely secure.
Is my bid legally binding?
Yes, all bids are legally binding and can not be withdrawn. For more information you can read our terms and conditions.