GoDaddy Auctions -- Discussion, Acquisitions, and Sales

[Ms Domainer]

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I searched the forum and could not find a thread dedicated solely to Godaddy auctions, which seem to be heating up lately.

I envision this thread as a place for discussion regarding YOUR sales and acquisitions, and general discussion about the auction venue itself, and, perhaps, some domain oddities that are popping up on the auction site, for example, high-priced domains that should be regfee.



One caveat, though: for your own good, PLEASE do not reveal your auction win (or anyone else's, for that matter) until the domain has landed in your account because the original owner still has the option to renew it, and I know how vexing that can be. In other words, don't count your chickens until they're hatched.

On the other hand, if you're having second thoughts about your auction win, by all means tell us all about it.

I suppose that if an auction win is high profile, it's already out there, but, still...

Anyway, I'll start with three comments:

1. I won my first (and maybe last) intentional typo, and it's getting clicks (no $ so far, though): Forwx.com. I could not find a live TM on this term, but one never knows. I have mixed feelings about this one.

2. I accidentally clicked on a BIN that I didn't want (I wanted the one above it), but I decided to honor the bid anyway. Grrr..., so be careful before hitting the submit button. It's not in my account yet, so I can't really reveal it right now.

3. Currently, there's a weird .co domain at over $9,000, with three bidders duking it out. Again, I don't want to reveal what it is, but if you go to the most active auctions, it's number 1 (as of this posting).​

Mods, I hope this thread is okay.



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[equity78]

Oh ok congrats. It can take some time, I just had to tell Sedo to cancel a transaction that came from Go Daddy, they said we told Go Daddy to send another reminder, how long are you willing to wait ? It had been over 3 weeks.

 

[lennco]

Oh ok congrats. It can take some time, I just had to tell Sedo to cancel a transaction that came from Go Daddy, they said we told Go Daddy to send another reminder, how long are you willing to wait ? It had been over 3 weeks.

I guess I am spoiled, my buyers have always paid up fast except for the deadbeat ones that never paid.
I have had to wait for funds to clear but the buyer has always ponied up pretty fast

 

[Ms Domainer]

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I was told that when a Godaddy sale is over $5,000, it goes through Escrow, with Godaddy paying the escrow fee. Has anyone heard anything different?

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[johname]

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I was told that when a Godaddy sale is over $5,000, it goes through Escrow, with Godaddy paying the escrow fee. Has anyone heard anything different?

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Yes, the domain seller pays the full escrow.com fee.

 

[Jasonn]

Thanks guys,

I never said what the price was of the sale was, I found something on Google that had said the threshold was $3000, maybe it is $5000 now.

I was just using the $3000 threshold that I found as an example, the actual sale is much higher the $5k

sweet sale! congrats!

 

[lennco]

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I was told that when a Godaddy sale is over $5,000, it goes through Escrow, with Godaddy paying the escrow fee. Has anyone heard anything different?

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I wondered that also so I called Escrow.com and they said all escrow fees are paid by Godaddy, it comes out of the 10% commission fee Godaddy charges.

I think that is petty cool

---------- Post added at 05:11 PM ---------- Previous post was at 05:09 PM ----------

sweet sale! congrats!

Thanks, just have to wait and see if it actually goes through

 

[Name Trader]

Even without knowing the domain, NICE Sale, lennco.

 

[johname]

". We process domain names selling for $5,000 or greater through Escrow.com, an escrow service that subtracts processing fees from the seller's proceeds."

I can state that this is how it is for me.

10% chopped off by escrow.com from the sale price.

There wasn't a take it out of the buyer before it goes to escrow.com

My very recent experience, your results may very.

 

[Name Trader]

That's not true via GoDaddy, because as lennco states you pay the 10% commission fees to Escrow.com and they take out their escrow fees and pay GoDaddy the rest. You don't pay Escrow 10% and GoDaddy 10%. And you are not the one paying the Escrow fee. GoDaddy is picking up that tab. Your fees are limited to the 10% commission fee paid to GoDaddy via escrow.com, plus any extra money transfer fees payable to Escrow.com, if applicable.

 

[NPer]

Congrats Lennco! :tu:

That is a very nice sale!!

 

[johname]

That's not true via GoDaddy, because as lennco states you pay the 10% commission fees to Escrow.com and they take out their escrow fees and pay GoDaddy the rest. You don't pay Escrow 10% and GoDaddy 10%. And you are not the one paying the Escrow fee. GoDaddy is picking up that tab. Your fees are limited to the 10% commission fee paid to GoDaddy via escrow.com, plus any extra money transfer fees payable to Escrow.com, if applicable.

Are you talking to me? Where did I say double 10%? If your talking to someone else sorry.

I stated what I am being charged to answer someones question, if anybody else is charge differently then so be it.

 

[lennco]

Even without knowing the domain, NICE Sale, lennco.

Thanks Stub

Funds haven't been sent yet so it is still up in the air.

 

[Name Trader]

Are you talking to me? Where did I say double 10%? If your talking to someone else sorry.

I stated what I am being charged to answer someones question, if anybody else is charge differently then so be it.

Yes I'm talking to you. I was only trying to demonstrate that your total charge is only 10% Sales Commission, and it's taken out of your escrow receipts. And that you cannot charge the Escrow.com fees to the buyer because you are not the one being charged for them. You want to get your sales for free at GoDaddy? What better way for them to charge you their 10% Sales Commission than via the Escrow.com cash they are holding. Most commission sales pay their broker/agent by deducting it from the revenue proceeds. If you want to charge these fees to the buyer, the only way to do it is by adding 11% to your selling prices. It's pretty much the standard practice for the sales of most auction houses. If you want to charge the Sales Commission to the buyer, you need to add it to the Sales Price. This is not limited to just GoDaddy.

 

[utomo]

I think Godaddy not paying 10%.
I guess godaddy paying less, because they are big and can negotiating the fee. maybe 5%


BTW, anybody know why some domain get $5 (24 hour) and some not ?

Thanks

 

[lennco]

Update

I have an update on my big sale.
The IDIOT buyer backed out :td: :yell:

I emailed him yesterday asking where is the payment, he emailed back 2am my time and said he doesn't want it anymore.

He emailed me from a french email address so I check to see if someone had bought the .fr version of my domain and sure enough he bought it the same day he started to buy my domain.

I contacted Godaddy and Escrow.com to inform them of this and GD said they will contact him.
So that is where it stands for now.
Why in the hell someone starts a $14k purchase and immediately changes their mind is beyond me.

The keyword of this domain is a Global product, especially here in the US, I don't see too many sales coming from the US to a .fr website, so good luck with that .fr :bah:
When GD releases it back to me I am going to put is back up for sale for even more money :P

 

[Ms Domainer]

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Don't bother bidding on any names held by La Fame. They almost always renew their domains and at the very last minute, even if it's a BIN name.

Waste of time.

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[Name Trader]

They do drop a few sometimes. I've grabbed one or two over the years. But generally they were correct in dropping them.

 

[equity78]

OrderFlowers.com Renewed, Eric Borgos told me Go Daddy emailed him he will be refunded.

 

[lennco]

OrderFlowers.com Renewed, Eric Borgos told me Go Daddy emailed him he will be refunded.

Yep you are right, it was deleted off of my watch list and it is back as an active site.
That sucks for Eric, he will find another good name.

Good luck Eric :tu:

 

[Ms Domainer]

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Oh, I see. The owner was just getting a real-life appraisal.

OrderFlowers.com is now in proxy.

Surprise, surprise...

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[adinfinite]

Just sent a name to Godaddy Auctions after getting a bid. Does anyone know if there is a way to extend the action?

 

[equity78]

No its a 7 day auction.

 

[Ms Domainer]

ICANN has Spoken: The GRP is 30 Days, Not 45

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This is an interesting article that proves beyond a shadow of a doubt that ICANN will be requiring a 30-day redemption period, not 45 days:

http://www.thedomains.com/2013/08/0...recovery-policy-errp-at-the-end-of-the-month/

All gTLD registries must offer a Redemption Grace Period of 30 days immediately following the deletion of a registration. (Sponsored gTLDs are exempt, and not required to offer a Redemption Grace Period.) During the Redemption Grace Period, the registrant must be permitted by its registrar to restore the deleted registration.

So Go Daddy's 45 days is a CHOICE on Go Daddy's part, not a requirement.

Is 30 days enough? I don't know. Even with the 45 days, I acquired a domain that may have been unintentionally allowed to expired:

http://www.namepros.com/domain-name...lic-service-announcement-re-former-owner.html

But I think this is probably a rare occurrence.


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[WORDSWORTH]

Oh ok congrats. It can take some time, I just had to tell Sedo to cancel a transaction that came from Go Daddy, they said we told Go Daddy to send another reminder, how long are you willing to wait ? It had been over 3 weeks.

That happened to me a few months ago. One month after an $x,xxx offer was made via GoDaddy and accepted by me, Sedo canceled the sale for non-payment:

Transaction cancelled by Sedo

This domain had been sold through our MLS partner GoDaddy.

Despite numerous reminders and warnings GoDaddy sent to the buyer, he has failed to complete the payment.
Since he has not fulfilled his part of the contract, you have the option to take legal action against the buyer. His contact data may be obtained directly through GoDaddy, please find further information regarding this at the following link:

http://www.godaddy.com/agreements/showdoc.aspx?pageid=CIVIL_SUBPOENA

We regret that the transaction could not be completed successfully.

They wouldn't provide me with the buyer's details for privacy reasons and said that I would have to send a subpoena to GoDaddy in order to get that information. I clicked the link to read that GoDaddy charges a fee for processing the subpoena:

Go Daddy's subpoena compliance costs are as follows:

Research - $75.00/hour
Federal Express - Cost as Billed
Copies - $.25/page

So basically buyers can easily makes Sedo offers via GoDaddy safe in the knowledge that no one can easily take action against them if they don't pay. Sucks.

That same deadbeat buyer (or so it appears - Sedo community member since Nov 2011 in United States with 5 star buyer activity) made an offer on at least one other of my domains shortly after the first sale fell through... Could just be coincidence i.e. a different buyer with the same creation date, location and ratings but smells fishy to me. That deadbeat buyer should have been blocked at Sedo and GoDaddy IMO.

 

[lennco]

That same deadbeat buyer (or so it appears - Sedo community member since Nov 2011 in United States with 5 star buyer activity) made an offer on at least one other of my domains shortly after the first sale fell through... Could just be coincidence i.e. a different buyer with the same creation date, location and ratings but smells fishy to me. That deadbeat buyer should have been blocked at Sedo and GoDaddy IMO.

That is a "Default" setting from all MLS buyers.
All offers that come through MLS that I get are always December 2011 with 5 Stars, the only thing that changes is the country.