Bid increments following big auctions — DropCatch changes

Higher bid increments ought to speed up high-dollar auctions.

Illustration with four hands holding bidding cards that say "bid"

Expired domain name marketplace DropCatch has changed its bid increments following an extended auction for reactive.com in October.

The auction dragged on for hours as bidders continually raised the ante by just $50. DropCatch resets the clock to five minutes whenever a fresh high bid is placed, so the auction became a war of attrition between bidders.

DropCatch disclosed the fresh bidding tiers in a tweet today:

You asked, we listened! As of today we’ve adjusted the bid tiers to be more client friendly! Bids will now auto increment per the following table: pic.twitter.com/8sBkf27TgN

— Annie @ Turncommerce (@annie_domainsTC) December 1, 2022

Having to raise bids by $2,500 once the reactive.com auction hit $50,000 would have sped up the conclusion.

For comparison, SnapNames and NameJet have minimum bid increments of $5,000 when auctions hit $100,000, and GoDaddy has $1,000 bid increments over $50,000.

Also on the wire