Domain auctions at Namecheap attract a lot of bidders; as a popular domain registrar, its expired domain auctions represent native registrations that expired.
The auctions can attract a lot of deadbeat bidders, who end up winning but not paying. Until now, the 2nd place bidder had the opportunity to step in and pay for the auction but that creates an obvious problem: The non-paying winner drove the auction’s price up, affecting everyone.
This is about to change, as announced by Namecheap. From now on, domains won but not paid for will get re-listed automatically.
As a secondary measure, Namecheap noted that they will implement credit card authorizations for bidders on an auction as they bid. This step will take a bit longer to implement.
Overall, two great steps in the right direction for Namecheap; the registrar has also launched Spaceship.com quietly.
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The second one is the great thing. There are many bot who bids on the domain and increase just $1-$5 at a time.
They have updated their system and now you have to deposit first to bid on any domain.