Transfer Auction - seller transfer/push the domain to YouName.Com before the auction starts. After auction ends, YouName.Com will transfer/push the domain to the Buyer.
Deposit Auction - Seller does not need to transfer/push the domain to YouName.Com. But the system will freeze some of your account balance as auction deposits depending on your chose auction level. The deposits will be automatically unfreeze and returned to your account after the auction and transaction complete.
Proxy biding makes bidding on auctions easier and less-time consuming for buyers. Proxy bidding comes into effect once the reserve has met.
If you are the highest bidder when the auction closes, you are the winner. With proxy bidding when you win the auction you pay only the lowest possible winning bid, which may not necessary be your maximum bid.
Please note: When proxy bidding is used it may appear as if one bidder outbid another with the exact same bid. This occurs when one bidder has set a proxy bid and second bidder places a bid for the exact amount of the first bidder’s maximum proxy bid. Because the first bidder placed his/her proxy bid earlier, such proxy bid has priority and will be the current highest bid. The second bidder must place a new, higher bid to succeed the proxy bid.
YouName.Com will hold some deposit from each member when they are auction the domain names. The deposit will be different according to the domain price.
Our purpose of holding the deposit is protecting the auction from fraud, and make sure the auction will be safe and effective. we’ll release the deposit immediately if the member is failed to bid for the domain, also, we’ll confiscate his/her deposit if the bidder intent to react or cancel his auction.