> Food and bed are commodities, a domain name isn't.
Which is relevant how? That you cannot just buy an equivalent replacement, therefore, it's even worse if you are forced to sell?
> Hence, the price the auction ends at is the true market value of the domain, not $10.
1. Per your suggestion, the seller still is ten percent short on the market value, so someone with money can still bankcrupt you simply by repeatedly forcing you to sell (or prevent you from ever obtaining whatever goods/property this rule is supposed to apply to).
2. No, it wouldn't actually discover the market price for an illiquid good, as the seller is effectively prevented from bidding what they value it at. If the thing that they are being forced to sell is worth a million dollars to them, they cannot actually bid that much if they don't happen to have 100000 dollars to spend on top, even though they supposedly own this thing that's worth a million dollars, which should normally be enough to buy that same million dollar thing. The only way to make that work would be if the seller got all of the money. In which case it would be completely pointless, as the seller could simply always bid 10 quadrillion dollars, win the auction, and pay themselves.
Which is relevant how? That you cannot just buy an equivalent replacement, therefore, it's even worse if you are forced to sell?
> Hence, the price the auction ends at is the true market value of the domain, not $10.
1. Per your suggestion, the seller still is ten percent short on the market value, so someone with money can still bankcrupt you simply by repeatedly forcing you to sell (or prevent you from ever obtaining whatever goods/property this rule is supposed to apply to).
2. No, it wouldn't actually discover the market price for an illiquid good, as the seller is effectively prevented from bidding what they value it at. If the thing that they are being forced to sell is worth a million dollars to them, they cannot actually bid that much if they don't happen to have 100000 dollars to spend on top, even though they supposedly own this thing that's worth a million dollars, which should normally be enough to buy that same million dollar thing. The only way to make that work would be if the seller got all of the money. In which case it would be completely pointless, as the seller could simply always bid 10 quadrillion dollars, win the auction, and pay themselves.