Moniker auction terms Outrageous - Page 2

Rick Latona · 03-27-2008, 12:49 PM

Originally Posted by pixelpadre

You got balz...I got to give you that. Great color scheme. Your site is still in beta and will be for some time. Until you get it running you better drop your commission to 5%.
????: NamePros.com http://www.namepros.com/domain-name-discussion/449617-moniker-auction-terms-outrageous.html

I dont see a single domain listed for sale on your site.

I don't list names on my site. I sell them via my newsletter. You have to sign up for it.

dag · 03-27-2008, 01:02 PM

Originally Posted by MattheP

Noob question:
What do u see as a biggest problem in this contract? I dont like the 120 days period.
????: NamePros.com http://www.namepros.com/showthread.php?t=449617

"two (2) years following the termination of this Agreement, Seller shall not, directly or indirectly (...)" looks nasty also, but i dont understand this

That's just saying that you can't contact a potential buyer who was brought to you by Moniker on your own and try to sell it directly, circumventing Moniker in the process. That sounds fair enough.

And if it makes anyone feel a little better, you can pull your name from Moniker auctions anytime up to the auction (I've done it myself), and there's no interrogation involved about what you're doing with the domain.

pixelpadre · 03-27-2008, 01:07 PM

Originally Posted by Rick Latona

I don't list names on my site. I sell them via my newsletter. You have to sign up for it.

ok that makes some sense.

I think you need to hook up with namebio.com who is launching in 2 weeks.

acc · 03-27-2008, 03:59 PM

I don't see the "20%" that some have referred to. It has been and I believe still is 15% commission. That's reasonable because of the focused buyers and in-industry promotion that Moniker gives the submitted names.

I also do NOT like the contract's self-renewal terms and need to opt out rather that have it expire x-days after the auction.

It takes pretty big cohones and a "take-it-or-leave-it-you-peons" attitude to include that "2-year" all-encompassing-for-every-possible-eventuality legalese. TWO-YEARS ??? - Moniker, you have to be kidding.

I can understand how Moniker needs to protect itself from seeing names submitted for auction and then having them transacted by the parties after the auction outside of the venue thus bypassing the associated commission terms. But in the big scheme of things, the protection they are seeking really only makes a difference with the HIGH priced names. All these terms and conditions should not apply to the run of the mill names.

Use a sliding commission based on selling price - For example, I would suggest no restrictions for names that SELL under say $5,000. A flat 15% commission is fair and okay. But they should lower the commission to 10% for names that sell up to high $xx,xxx, to 5% for names in the $xxx,xxx range, and maybe down to 3% for names in the $x,xxx,xxx range. That in itself would lessen the incentive to transact the names outside of the auctions and allow for a more streamlined contract.
????: NamePros.com http://www.namepros.com/showthread.php?t=449617

WE are providing THEM with all the thousands of names that eventually generate interest and that commission income. If they keep this up, other online auctions which can be scheduled at ANY TIME (even right before or even during these industry trade shows) attract our names and will take more money and focus away from these TRAFFIC/Moniker auctions.

Come back down to earth Moniker ... you are starting to lose touch.
..

bfluid · 03-27-2008, 05:08 PM

Originally Posted by pixelpadre

You got balz...I got to give you that. Great color scheme. Your site is still in beta and will be for some time. Until you get it running you better drop your commission to 5%.
????: NamePros.com http://www.namepros.com/showthread.php?t=449617

I dont see a single domain listed for sale on your site.

If I can get my names sold I would be more than willing to pay 10% for it.

pixelpadre · 03-27-2008, 05:29 PM

Originally Posted by bfluid

If I can get my names sold I would be more than willing to pay 10% for it.

Lets stay on topic please. This is about Moniker, not others. Although the giant SPONSOR in the background sort of makes that difficult.

bfluid · 03-27-2008, 05:31 PM

Originally Posted by pixelpadre

Lets stay on topic please. This is about Moniker, not others. Although the giant SPONSOR in the background sort of makes that difficult.

Sounds good.

accent · 03-27-2008, 10:49 PM

Moniker was the domainer's registrar. The feeling I had was that they understood better and had their business set up for domainers. Looks like there is soon to be an opening for a new "domainer's registrar".

Have you seen Moniker's on site domain sales section? Half of the links do not work, there are lots of reg fee domains with $6 million price tags and the terms there stink too.

Broker · 03-28-2008, 06:59 AM

I've been domaining for 2 years now. I have sold domains through namepros, dnf, ebay, afternic, buydomains, sedo and an occasional enduser email contact. I have never received a single offer for one of my domains at moniker. But there they sit!

Charley · 03-28-2008, 08:07 AM

Originally Posted by pixelpadre

Yup....but I used RED for guys like you with A.D.D.

Why does this statement have an OR. It should be any one, isn't it ?

Quote:

Seller agrees to pay Buyer/Seller Agent a fee for each or any Name sold (the “Fee”) equal to fifteen percent (15%) of the Total Sales Price of such Name that meets or exceeds the agreed upon reserve.

Broker · 03-28-2008, 10:25 AM

Any name submitted in your list to them for the live auctions.

acc · 03-28-2008, 11:57 AM

Originally Posted by Broker

Any name submitted in your list to them for the live auctions.

If true, that is one of the WORST and overreaching terms of their agreement , IMHO.
????: NamePros.com http://www.namepros.com/showthread.php?t=449617

Someone from Moniker should verify that this is correct or correct us if we are interpreting it wrong here ....

So not only the names that appear in the auctions, but also the dozens or maybe hundreds of names that you submit for consideration that do not even get selected for either the live or silent auctions are still on the hook and covered by the contract. Meaning that even though all those unselected names got ZERO exposure from Moniker's venues, Moniker still wants a 15% commission if YOU sell a name YOURSELF somewhere else ???

That is NOT a domainer-friendly clause.
.

Broker · 03-28-2008, 02:42 PM

Domains are only subject to this agreement if they are accepted into the auctions. If the domains are not accepted your free to sell them elsewhere. Thats what I was told by a moniker rep on the phone when I myself questioned this part of the contract before I submitted my domains.

The ADDENDA to this Agreement shall consist of, but are not limited to, those items submitted by Seller for selection and acceptance by Buyer/Seller Agent to secure purchasers

NewWorldArk · 03-28-2008, 02:56 PM

That is One F*cked up Contract.

I read it a couple months back.

Rep to the OP.

Rep to Reece for the Sticky.

htmlindex · 03-29-2008, 03:07 AM

Quote:

This exclusive right and authority to sell period will automatically renew at the end of each term unless Buyer/Seller Agent is notified by Seller in writing within 15 days of expiration that Seller is terminating the Agreement.

So it seems like we actually have to give Moniker written notice that we want to cancel the agreement or it will keep renewing in perpetuity. That sucks!

????: NamePros.com http://www.namepros.com/showthread.php?t=449617

Quote:

Buyer/Seller Agent shall bear all costs and expenses incurred by it in connection with the performance of its duties hereunder; provided, however, that Seller shall reimburse Buyer/Seller Agent for any reasonable travel expenses that are expressly pre-approved by Seller in writing and thereafter incurred by Buyer/Seller Agent to attend meetings at Seller’s request.

This agreement is a very one sided agreement favouring Moniker IMO

Charley · 03-29-2008, 03:44 AM

Originally Posted by acc

Moniker still wants a 15% commission if YOU sell a name YOURSELF somewhere else ???

That is NOT a domainer-friendly clause.
.

That's if the name doesn't sell at Moniker and you sell it to someone during the brokerage period.

pixelpadre · 03-29-2008, 06:22 AM

From my perspective....the Moniker folks must think we are all very stupid. That's not someone I would ever do business with.

I mean even if I am stupid.

h3rm4w4n · 03-29-2008, 08:14 AM

I need an interpreter to learn the contarct...

oldtimer · 03-29-2008, 08:29 AM

This looks like a very one sided contract which is designed to take advantage of naive domainers. The real culprit here is the attorney who has compiled this contract who has used unethical language to facilitate predatory business tactics for this company in order to hold domainers captive to their unfair procedures and fees indefinitely. This matter should be brought to the attention of the State of Florida through a petition by all those who have been injured or deceived by this contract in order to show this and all other companies who deal with domainers that they should not and can not abuse their power.

NewWorldArk · 03-29-2008, 09:36 AM

Originally Posted by pixelpadre

That's not someone I would ever do business with.

Any company that writes up a contract that clearly reads to intentionally hijack the rights
????: NamePros.com http://www.namepros.com/showthread.php?t=449617
to your domain in any way shape or form, isn't a company that anyone should be doing business with.

Always Read those Contracts, it should tell you something about the Company itself.

***Dotmainer*** · 03-29-2008, 09:38 AM

I gave that contract to lawyer and he translated and checked it for me,
its not perfect but acceptable.
(but i'm not sure is it still same, mine was year ago)

I dont see why this one is in red:

Quote:

6.REIMBURSEMENT OF COSTS: Buyer/Seller Agent shall bear all costs and expenses incurred by it in connection with the performance of its duties hereunder; provided, however, that Seller shall reimburse Buyer/Seller Agent for any reasonable travel expenses that are expressly pre-approved by Seller in writing and thereafter incurred by Buyer/Seller Agent to attend meetings at Seller’s request.

So if there are any expenses they are going to ask you ! Whats bad about that ?

????: NamePros.com http://www.namepros.com/showthread.php?t=449617

-

nstalk · 03-29-2008, 09:48 AM

Originally Posted by acc

Someone from Moniker should verify that this is correct or correct us if we are interpreting it wrong here ....

I agree with this....is there anyone from Moniker reading this thread?

If so please let us hear from you....thanks

NewWorldArk · 03-29-2008, 09:54 AM

Originally Posted by nstalk

I agree with this....is there anyone from Moniker reading this thread?
????: NamePros.com http://www.namepros.com/showthread.php?t=449617

If so please let us hear from you....thanks

Even So, It's the Actual Contract that your Legally Bound To that's f*cked up, Moniker Rep or Not.

The Moniker Rep most likely Cares.

The Contract You Sign and are Legally Obligated to from Moniker Clearly Reads to the Contrary.

Charley · 03-29-2008, 10:02 AM

Originally Posted by NewWorldArk

Always Read those Contracts, it should tell you something about the Company itself.

This is the problem. I never read them, just agree, sign and send the names.

PowerUp · 03-29-2008, 10:07 AM

I read somewhere that if the Agreement is one sided, or unfair to one party, then the court would consider the Agreement to be void/unenforceable. Can someone confirm this?

03-27-2008, 03:59 PM	#29 (permalink)
acc NamePros Regular Join Date: Nov 2006 Posts: 792	I don't see the "20%" that some have referred to. It has been and I believe still is 15% commission. That's reasonable because of the focused buyers and in-industry promotion that Moniker gives the submitted names. I also do NOT like the contract's self-renewal terms and need to opt out rather that have it expire x-days after the auction. It takes pretty big cohones and a "take-it-or-leave-it-you-peons" attitude to include that "2-year" all-encompassing-for-every-possible-eventuality legalese. TWO-YEARS ??? - Moniker, you have to be kidding. I can understand how Moniker needs to protect itself from seeing names submitted for auction and then having them transacted by the parties after the auction outside of the venue thus bypassing the associated commission terms. But in the big scheme of things, the protection they are seeking really only makes a difference with the HIGH priced names. All these terms and conditions should not apply to the run of the mill names. Use a sliding commission based on selling price - For example, I would suggest no restrictions for names that SELL under say $5,000. A flat 15% commission is fair and okay. But they should lower the commission to 10% for names that sell up to high $xx,xxx, to 5% for names in the $xxx,xxx range, and maybe down to 3% for names in the $x,xxx,xxx range. That in itself would lessen the incentive to transact the names outside of the auctions and allow for a more streamlined contract. ????: NamePros.com http://www.namepros.com/showthread.php?t=449617 WE are providing THEM with all the thousands of names that eventually generate interest and that commission income. If they keep this up, other online auctions which can be scheduled at ANY TIME (even right before or even during these industry trade shows) attract our names and will take more money and focus away from these TRAFFIC/Moniker auctions. Come back down to earth Moniker ... you are starting to lose touch. .. __________________ . .US Keyword names for sale

03-27-2008, 10:49 PM	#33 (permalink)
accent Senior Member Join Date: Apr 2006 Posts: 2,295	Moniker was the domainer's registrar. The feeling I had was that they understood better and had their business set up for domainers. Looks like there is soon to be an opening for a new "domainer's registrar". Have you seen Moniker's on site domain sales section? Half of the links do not work, there are lots of reg fee domains with $6 million price tags and the terms there stink too. __________________ Domains for sale For List Of Country Code Domains Jewelry of Tibet and Nepal TibetanJewelry.mobi Tibetan Symbols Om Pyramids Ancient Egyptian Secrets Ancient Mystery Eden Shakti

03-29-2008, 08:14 AM	#43 (permalink)
h3rm4w4n NamePros Regular Join Date: Feb 2007 Posts: 918	I need an interpreter to learn the contarct... __________________ Free PDF Ebook Article and Review icehrm Labreza Tower

03-28-2008, 06:59 AM	#34 (permalink)
Broker Senior Member Join Date: Mar 2006 Location: Philly Burbs Posts: 3,199	I've been domaining for 2 years now. I have sold domains through namepros, dnf, ebay, afternic, buydomains, sedo and an occasional enduser email contact. I have never received a single offer for one of my domains at moniker. But there they sit!

03-28-2008, 10:25 AM	#36 (permalink)
Broker Senior Member Join Date: Mar 2006 Location: Philly Burbs Posts: 3,199	Any name submitted in your list to them for the live auctions.

03-28-2008, 02:42 PM	#38 (permalink)
Broker Senior Member Join Date: Mar 2006 Location: Philly Burbs Posts: 3,199	Domains are only subject to this agreement if they are accepted into the auctions. If the domains are not accepted your free to sell them elsewhere. Thats what I was told by a moniker rep on the phone when I myself questioned this part of the contract before I submitted my domains. The ADDENDA to this Agreement shall consist of, but are not limited to, those items submitted by Seller for selection and acceptance* by Buyer/Seller Agent to secure purchasers*

03-28-2008, 02:56 PM	#39 (permalink)
NewWorldArk NamePros Member Join Date: Oct 2007 Posts: 181	That is One Fcked up Contract. I read it a couple months back. Rep to the OP. Rep to Reece* for the Sticky.

03-29-2008, 06:22 AM	THREAD STARTER #42 (permalink)
pixelpadre Account Closed Join Date: Jan 2008 Location: Eustis Florida Posts: 78	From my perspective....the Moniker folks must think we are all very stupid. That's not someone I would ever do business with. I mean even if I am stupid.

03-29-2008, 08:29 AM	#44 (permalink)
oldtimer NamePros Regular Join Date: Jun 2004 Location: USA Posts: 626	This looks like a very one sided contract which is designed to take advantage of naive domainers. The real culprit here is the attorney who has compiled this contract who has used unethical language to facilitate predatory business tactics for this company in order to hold domainers captive to their unfair procedures and fees indefinitely. This matter should be brought to the attention of the State of Florida through a petition by all those who have been injured or deceived by this contract in order to show this and all other companies who deal with domainers that they should not and can not abuse their power.

03-29-2008, 10:07 AM	#50 (permalink)
PowerUp Senior Member Join Date: May 2006 Posts: 1,268	I read somewhere that if the Agreement is one sided, or unfair to one party, then the court would consider the Agreement to be void/unenforceable. Can someone confirm this?

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