[d4v3]

But in this case, the bid was rejected. If GoDaddy wanted $75, why wouldn't they just suggest $75 and accept the bid, instead of suggesting $50 and rejecting it? Seems less efficient to play this game. Maybe I'm missing something.

And, even if they accepted the bid, I don't see the issue of not disclosing who owns it. Anyone who is selling something is 'suggesting' (setting) a price, so it wouldn't really matter if they disclosed they owned it or not because they are free to set the price. Why would you care if they owned it or not?

Do I understand this correctly? Maybe someone has a bridge they want to sell me

[bitlad]

Generally in bid, if your price get rejected, you would bit for higher price and that's what we did, till you discover the price. I think with lower price they hook you in. The true price is sometimes 2x-10x of what they suggest.

Their bidding mechanism is not how a retail transaction works, where either you buy or you don't, it is not binary.