Owntype should’ve taken this court and obviously didn’t.
Well Yinan is in China, very busy, domain names are more of a hobby as his main business takes up a lot of his time. and I don't know that he would have won, the TOS usually holds up, I don't agree with that and maybe someone with greater expertise like @jberryhill can weigh in and give his opinion on how a battle with NetSol/Web.com would most likely go?
So you have the full picture John, basically this name according to NetSol should have never been offered for sale, but it was at $2,577, a member here purchased it, and then a day later it was removed from his account and NetSol used their TOS as a reason why they could take it back and refund him.
I’m guessing he had a lawyer give it a quick look. But if the TOS says they can correct mistakes within a certain amount of time, then it may have been a losing battle. That’s obviously why the don’t give auth codes for 3 days.
I hate it and think it is ridiculous, but when its their market and they get to create the TOS, i guess we play by their rules...
Agreed, he might of stood a chance if he could have got it out of NetSol's eco system, and to another registry maybe like Epik. It would have been one more day for the auth code, and 5 more days for transfer out, doesn't look like he ever stood a chance.
NetSol TOS reminds me of Vegas Casinos. You loose the mortgage money, kids college tuition and everything in between, and they’ll gladly take your money. But as soon as you start winning, they’ll state your game is too strong and ask you to leave. Is what it is.
Correct what mistake? The owner listed it for sale, not the registrar.
Anyone know who got the other web.com gem leads.com?
Well the registrar was the owner and if you look at the whois history from a couple weeks ago there was a guy from Canada who became the admin name, NetSol was listed as the owner and then two weeks later back to New Ventures Corp. Really weird.
Weird which is exactly why a proper lawsuit is in order. These corrupt registrars get away with murder because they go unchallenged.
Couldn’t have said it better. Not exclusive to registrars either.
Same thing happened to me with BuyCar.com
If you check Whois history you'll see it was in my name for a little while before they decided it was sold too cheap.
In case you have not seen it, NameAgency tweeted a video of the sale of DomainNames at the auction. Gives a sense of the setting in the room for those not there.
You don't need a Twitter account to see the video.
Great stuff. Thanks again!
370k for domainnames dot com is cheap compared to buying your own gtld to help sell domains.
your right, the reserve should be reserved. lol
Thanks for sharing.
I have poor hearing (any stereo system that has response to 200 Hz is all I need ) and may well have misunderstood what was said at the NamesCon session explaining the auction (held the day before, which I attended) and the beginning of the auction itself, but it was my impression that Monte said that some reserves had been lowered and that both the owner and he (Monte) might shave their shares to make the deal happen if the bidding got close to the reserve. He seemed in communication periodically on some of the names, and it seemed some they were really trying to get to a level. The auctioneer would look to Monte for a shake of the head, or not, before announcing whether the name was sold or would go to online further bidding. So my impression (as I said possibly wrong or misheard) was that the actual final reserves were not known. I presume that is why no reserves were shown on the screens.
awesome, thx Bob.
How can you have a reserve auction without knowing the reserves. Obviously he wants them to lower the reserve so he can get the commission, but sometimes in big names people have paid up, and after commissions don’t want to be underwater. The same thing happens year over year, more domains go unsold, than sold, it’s better if they focus on getting everyone involved in finding willing sellers of solid sub $50k names, rather than teasing people with untouchables, and putting everyone to sleep. I think it’s time to shake up the format, and spend some money on technology, the online auction portion of it was horrendous. You could easily make a life long mistake with one wrong click, as many times there was 10x the price differences between the floor, and the online button.
Certainly it was more challenging being online (I only watched it live, although some people around me were using online as well as live). What they seemed to do was at times give up on keeping them in synch when the bidding was live fast and furious, but Monte did always, at least on major ones, specifically call out to the online clerk to get it right, and then wait about 8 to 10 seconds for any additional bids. On at least one case a higher bid came in just after the auctioneer had claimed sold on the floor. In that case they kept the lower floor bid as the sale price.
I think it is challenging no matter how you do a combined live and online auction. It would be simpler to have two auctions, one only online and one only live, but that would exclude those who could not be at NamesCon.
Well I can only report on what was done in the live room. Clearly people knew what reserve had been listed online. It was my understanding that a few of these reserves were lowered in the day before the auction (most stayed at same levels), and it was announced that others might further lower. There was no mention orally or on screen of any reserve price for any name, except at end of bidding when Monte indicated it if had reached level to sell.
I have never quite seen the purpose of bidding below a reserve price, but accept it is a standard psychological way to get bidding action.
Anybody see if end users who have created 301’s or websites now on names purchased and the end users attended the auction or were online buying any names?
Overpriced! What do they think an enduser would pay 150k? It is a $200 nom.
Yeah brah, people are rigging it to keep NTLDS down, ok.
That domain has been thrown around for awhile now. I highly doubt that sale is legit.
I attended the live auction and I recorded the moment when Frank won domainnames()com for $370K
Posted on my Linkedin https://www.linkedin.com/feed/update/urn:li:ugcPost:6495819516285644800
Separate names with a comma.