I frequently place backorders on domain names that already have backorders on NameJet. I do this on names I am mildly interested in owning, knowing that I will have the option to participate in the auction after doing more research on the domain name. Backordering it basically allows me to have the option to bid without the obligation of winning if I am the only bidder.
For whatever reason, some NameJet auctions don’t happen when they are scheduled according to the newsletters that are sent daily. A name may appear in the Pending Delete Names currently available for backorder newsletter, but it may not necessarily go to auction the next day, although they usually do.
If you’ve placed a backorder for a domain name that has other bidders ahead of you, and the name doesn’t go to auction that day, other bidders may drop out or delete their backorder. If that happens, you might be in the leading bidder position when the name does go to auction. If nobody bids more than your bid, you will win the domain name. Had you not been sure about the name but simply placed the back order to follow along, you’re basically stuck with the domain name.
In the past few months, I haven’t gone through my backorder list to delete old backorders. I am now the leading bidder on a domain name I don’t really want to buy, but it’s my own fault for not keeping my backorder list updated. That’s now a priority for me, and it should be something you do as well.