Right on time, 75 days after the domain expired, I got an e-mail from Pool.com telling me they’d secured my domain for me. Great. Of the four sources I used, Pool.com was the one I least wanted to deal with. But true to their claims, they ended up being the best agent of The Drop and had just gotten me one step closer to my domain. They had A-Rod and I was the Texas Rangers.

Unlike the Texas Rangers, however, I realized I could be bidding against myself and entered a sealed bid of $302. I chose that number because it seemed sufficiently high but not so high that I’d feel foolish if I was the only bidder. I added the extra two dollars on the end just to edge out any other people potentially deciding on $300 as their number.

The next three days were particularly stressful. I had no idea where I stood, and throughout this entire process, I’d always had the sneaking suspicion that the people at these companies are on the lookout themselves for valuable domains. In other words, if someone all of a sudden bids $1000 on a domain, will a domain company decide to snatch it up themselves or “shill bid” against you on it?

Finally the e-mail from Pool arrived and informed me that I had moved onto the Challenger Auction. There was one other bidder and they had upped their bid to $312 in order to beat me. Not too bad, but I had no idea how high that person was willing to go. I had to decide on a top bid (a la eBay’s proxy bidding) and a strategy for when to place it.

True to form, Pool.com’s auction system squeezes even more money out of you by making sure the auction doesn’t end if there’s a bid in the last five minutes. In that case, the auction time keeps extending by five minutes until there are no more bids.

I could try one of two things: Bid high and bid early in an attempt to scare off the other guy, or lull the other guy to sleep by doing nothing until the last 6 minutes. I chose the second method since the ending time was 8am on a Saturday… a time when many people are not in front of computers. I set four alarms for 7:45am Saturday morning, woke up on time, and placed my bid for $500 when the countdown clock hit 6 minutes.

The system immediately auto-upped the current bid to $369 and I was the leader. Six nervous minutes, fifty browser refreshes, and a thousand heartbeats later, my opponent was nowhere to be found and the domain was mine… ready for immediate transfer to Dreamhost, my hosting company of choice.

I’m still not quite sure whether the person on the other end was real (although I assume they were), but the bottom line is that by playing every possible angle, I now have an extremely valuable domain in my possession for the reasonable sum of $369. Not valuable because I want to sell it or anything; just valuable because I want it.

Thank you Pool.com. I love/hate you.



Read more: http://www.mikeindustries.com/blog/archive/2005/03/how-to-snatch-an-expiring-domain#ixzz0jScDVxxD