Public Live Auctions
1. CatchDrop places caught domains in public live auction all domains that we’re backordered by 2 or more customers. All CatchDrop auctions are live public auctions and anyone with an account in good standing can participate in any auction at anytime while the auction is still open for bids.
2. CatchDrop users must have a at least 1 valid form of payment method on file at all times. Credit cards can be added or deleted from My Account tab in Your “My Dashboard”
3. All auctions begin on the day the domain was caught and run for 7 calendar days.
4. If a bid is placed during the last 3 minutes of an auction, the auction is extended so there is 3 minutes remaining from the time that bid is placed.
5. You must be a verified bidder in order to participate in auctions exceeding $500.00
Becoming a verified bidder is simple & quick and ensures the integrity of the platform.
Under My Account you could become a verified bidder by clicking on “Get Verified Now” and following the instructions.
6. Live public auctions Minimum bid increments are as follows:
- $8.88 - $99 = $10.00 Bid Increment
- $100.00 - $199.00 = $15.00 Bid Increment
- $200.00 - $499.00 = $25.00 Bid Increment
- $500.00 - $999.00 = $50.00 Bid Increment
- $1,000 or more = $100.00 Bid Increment
7. All Expired Domain Auctions & backorders include a free 1 year registration fee.
8. Live Public Auctions Bid Process
8.1 If a bid is placed during the last 3 minutes of an auction, the auction is extended so there is 3 minutes remaining from the time that bid is placed.
8.2 Auction participants have the ability to place a minimum bid or to enter a maximum bid which will become your proxy bid. CatchDrop will automatically proxy bid on your behalf when you enter a maximum bid more than the minimum bid required.
8.3 You will be the new highest bidder if your maximum bid exceeds the leading bidders bid by at least the next minimum bid increment required.
If the highest bidder is winning the auction at $150.00 the next bid to take lead is $165.00 ( $150.00 + $15.00 miniminimum bid increment). If you enter a maximum bid of $250.00 the new highest bid will be $165.00 and you will have the remaining $85.00 in proxy (reserve) that the system will automatically bid on your behalf in mimimum required bid increments should another bidder outbid your previous winning bid of $165.00
9. Once the auction is completed, our system will automatically attempt to charge the highest bidder’s default payment method within 24 hours from the end of the auction.
10. If the payment fails to go through for any reason, we will attempt to charge the same payment method consequently
every 24 hrs for up to 3 times within a 72 hrs period.
If the payment is not successfully processed after 3 attempts within 72 hours, the user’s account will be suspended temporarily until payments due for won auctions or backorders are successfully received & processed.
11. Unpaid Domains Past The Grace Period
Domain auctions or backorders that remain unpaid past the grace period will be subject to the following:
11.1 Unpaid Domain Backorders
Any successful backorder which is not paid for by the CatchDrop account holder will result in the user forfeiting all rights to the backordered domain. The CatchDrop account associated may be suspended or terminated and the unpaid domains will be returned to the registry or placed in a 7 day live public auction.
11.2 Unpaid Won Domain Auctions
If payment is not received for a domain won in auction, CatchDrop reserves the right to either award the domain to the second highest bidder or replace the domain in a 7 days live public auction. In such a case, the CatchDrop account associated will be terminated and the user barred from participating in future auctions.
12. Catchdrop further reserves the right to make random verifications in order to correct any bugs or system issues that may arise.
13. CatchDrop reserves the right to take any action it deems necessary to prevent shill bidding, fraud and to maintain the integrity of it’s backordering & live public auction platform.
14. CatchDrop is not liable for any issues or any problems resulting from or that may arise from the use of it’s Domain Backordering and live public Auction platform.
15. CatchDrop reserves the right to modify these rules at any time for any reason without prior notice.