Early bidders will earn cash back.
The program will reward both the initial bidder in an auction and the second highest bidder with 2% of the sales price.
For example, if you are the first bidder and three people bid in an auction but you don’t win, you’ll get 2% of the sales price.
If you’re the first bidder in an auction that only attracts two total bidders, you’ll actually get 4% — 2% for being the first bidder and 2% for having the second highest bid. On a $1,000 sale this would mean $40.
If you’re the only bidder for a domain you’ll get 2% cash back since you were the first bidder.
The money is taken from CAX.com’s commission, not the sellers proceeds.
When I first heard of this deal I thought people would try bidding to earn money and walk away if they actually one. But CAX.com charges a one time membership fee that should reduce the incentive for people to do this.
The announcement about the cash back bidding is on a great domain in itself: Everytime.com.
The promotion begins July 4. Since Francois is French, I don’t think the timing has anything to do with the U.S.’s Independence Day holiday.
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