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discuss Crap I just bid on a domain I did not want!!

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MapleDots

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HeHe

So it's late for me, have not eaten and have a bit of a sugar low. I see this domain for sale on GoDaddy and it's actually pretty sweet. Starting bid was quite reasonable and I figured it was way too low for a premium domain so I wanted the seller to think I was serious.

So guess what.... I bid twice the opening bid amount and felt pretty good that I had a chance the offer would get accepted.

Then..... a wave of something overcame me and I went to dictionary.com and sure enough I had a misspell on my hands, the domain had an extra letter that did not belong.

CRAP :muted:

So there I sit looking at the domain name trying to justify how I could possibly put it to use. No matter how I flipped it I figured I just wasted some good money. The owner of the domain would surely be accepting my offer.

Almost an hour to the T the seller came back with a counter for a couple hundred bucks more than my double sized offer.

HeHeHe.... I just chuckled to myself. The guy had a solid offer on a misspell and got greedy, he had to ask another couple hundred bucks. Well, that lets me of the hook, now I can go spend the money on something I actually want.

Lesson to seller: If you have a misspell that is close to the real word there is a chance the bidder did not realize it was a misspell. If you counter, you let him off the hook.

Think about accepting the bid on a misspell because you might not get a second bid when the guy on the other end realizes its a misspell.


So how was your day :xf.laugh: :xf.laugh: :xf.laugh:
 
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The views expressed on this page by users and staff are their own, not those of NamePros.
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Another view, as a buyer it is an advantage because still I can get the domain if I reject and seller accept.
N.B. If I bid for correct spelling.
 
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Another view, as a buyer it is an advantage because still I can get the domain if I reject and seller accept.

Exactly, Buyer let's the 7 day initial offer run its full course.(do nothing more) While the Seller's counter offer just sits on the table.

Seller then has to accept the initial offer just before the end of the 7 days or risk no sale.

Which ends up as Sedo. Take it (intial offer) or risk the deal over.

The Godaddy system is better obviously as it tests the buyer's temptation too. But smart buyers or ones with broker help will know to let you stew in it for a full 7 days.
 
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The Godaddy system is better obviously as it tests the buyer's temptation too. But smart buyers or ones with broker help will know to let you stew in it for a full 7 days.

Absolutely, as a seller the godaddy way is preferred.

As a buyer, if I see them on both platforms I will probably bid on Sedo. I don't like loosing control of my bid, if the seller counters and I don't answer that means I don't wan't it and that should be it unless I bid again.

So both platforms have distinct advantages and it pays to list at both.

I have not listed on Flippa so I cannot say how they do it.
Can anyome chime in on that?
 
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Good info to know for the future for everyone.
 
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I would imagine many potential buyers don't know their initial bid can be accepted and I would expect many would back out, are their accounts closed?
If anyone does not honor their bid they face some action as outlined in the terms. In this case it seems we need to clarify the wording which I let the auction product manager know and they will get it updated as part of another project.
I asked the team that handles support and they said they almost never get anyone who does this and I cant remember us having a problem on this myself so I think it is fair to say that it would be extremely rare but something we should still clarify if people are confused.
 
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If anyone does not honor their bid they face some action as outlined in the terms. In this case it seems we need to clarify the wording which I let the auction product manager know and they will get it updated as part of another project.
I asked the team that handles support and they said they almost never get anyone who does this and I cant remember us having a problem on this myself so I think it is fair to say that it would be extremely rare but something we should still clarify if people are confused.

that plus the fact that you simply would not know if a buyer is using this rule as excuse to get out of a deal for whatever reason.. therefore you cannot allow buyers not to pay based on this.. or not to get banned, for that matter. buyers invent all kinds of reasons. plus if when the bid is made, it is indicated clearly (whcih it is) that it will be bindign for next 7 days... then why woudl anyone want to assume that this 7 day responsibility is somehow automatically voided if seller counters the offer.

sure many domainers are familiar with other formats.. where counters do void previous bids.. but as far as endusers go, why would any of us conclude that upon seeing statmeent "your bid is valid for 7 days" when making offer.. they'd go to assuming that that would be voided if seller counters.
 
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If anyone does not honor their bid they face some action as outlined in the terms. In this case it seems we need to clarify the wording which I let the auction product manager know and they will get it updated as part of another project.
I asked the team that handles support and they said they almost never get anyone who does this and I cant remember us having a problem on this myself so I think it is fair to say that it would be extremely rare but something we should still clarify if people are confused.

Thanks Joe I did have a comment on my blog where Manos stated he noticed a lot of non payment.

We list all our names at both platforms for years and as we are constant sellers can write some notices for comparison.

1) tdnam seems to have bigger exposure, at same names list receiving much offers there
2) huge advantage for seller that can raise and roll back later to initial offers, there are some minus i list below.
3) at sedo can be paid even same day buyer pays , if not, will be next business day, as transfers are super fast with push.
4) at tdnam now payments are 20 days after buyer pays and need to transfer the name at buyer’s godaddy account that is time costly as need to communicate directly with buyer.
5) usual fee at sedo is 15%, 20% at sedomls and some exotic tlds, at tdnam always 20%.
6) noticed that accepting initial offers at tdnam after a raise have very high percentage of non payments

http://tldinvestors.com/2018/03/a-big-difference-in-negotiating-a-sale-on-godaddy-vs-sedo.html
 
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... then why woudl anyone want to assume that this 7 day responsibility is somehow automatically voided if seller counters the offer.

I think you are not thinking correctly here. Most Auctions or Negotiations in life, a counter offer cancels out the previous offer. But not at GoDaddy. If Joe Soap makes an offer on the domain at GoDaddy and the seller counter-offers, it would be more natural to presume they are released from negotiations and can go any buy their 2nd choice of domain. And then before 7 days elapse, the seller accepts their original offer, and the buyer has to also buy the domain which he thought his offer had been negated by the seller's counter-offer.

Only GoDaddy do this, as far as I can tell. Most marketplaces, like Sedo. An offer is negated by a counter offer. It's unnatural to assume the buyer is still on the hook to buy the domain for 7 days. Even if it is in their ToS, but not clearly spelled out what is expected after a counter offer is received.
 
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I think you are not thinking correctly here. Most Auctions or Negotiations in life, a counter offer cancels out the previous offer. But not at GoDaddy. If Joe Soap makes an offer on the domain at GoDaddy and the seller counter-offers, it would be more natural to presume they are released from negotiations and can go any buy their 2nd choice of domain. And then before 7 days elapse, the seller accepts their original offer, and the buyer has to also buy the domain which he thought his offer had been negated by the seller's counter-offer.

Only GoDaddy do this, as far as I can tell. Most marketplaces, like Sedo. An offer is negated by a counter offer. It's unnatural to assume the buyer is still on the hook to buy the domain for 7 days. Even if it is in their ToS, but not clearly spelled out what is expected after a counter offer is received.

Im not saying you don't have a point.. all Im saying is who is to say what is the proper way to do things.. and is the proper way to do things the way that most do it? to me the two, in life, were never really automatically true.

in all honesty, if I was born in the amazon and came to this world today knowing nothing about offers or godaddy.. and went to make offer on godaddy today, the offer would say it is bidning for 7 days... (which it does clearly say at offer time)... the first thing to come to my mind then wouldn't be that if seller counters my offer then what I am offering now will no longer stand.

what do you think would be your first thought? if you came out of the jungle for first time? (no offence to jungle people btw).
 
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It is called bargain

Example:

I offer $50 for a product
Seller counter with $60
I reject $60
Seller finally agrees to sell at $50

Then I will say your deal is void because you countered with $60 (If seller ask me why? I will give reply I am following rules of some other places).
 
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Not so clear,

the seller can accept, counter or decline

No mention if binding after counter offer or what the terms are for the bidder.
 
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It is called bargain

Example:

I offer $50 for a product
Seller counter with $60
I reject $60
Seller finally agrees to sell at $50

Then I will say your deal is void because your countered with $60

thats definitely one way to do or call a bargain.
my point was that its not the only one.

there is nothing stopping you and seller from walking away happy form all this at $50. regardless of the 20 other counters you both made since the $50 price.

imo thats an even better definition of a bargain.. when you work on a price for 2 hours.. and instead of walking away empty handed cause of some silly rule that says if one counters then everything done previous is void... you walk away with a deal.
 
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Not so clear, the seller can accept, counter or decline, buyer can decline counter offer.

No mention if binding after counter offer

I wasn't referign to what it says after we counter.

I was simply making point its clear when we make offer that the offer is binding for 7 days.

I see no reason why the buyer would assume its somehow voided if seller makes counter.
 
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... the first to come to my mind then wouldn't be that if seller counters my offer then what I am offering now will no longer stand.

what do you think would be your first thought? if you came out of the jungle for first time? (no offence to jungle people btw).

OK. Firstly. I still live in the jungle. I haven't left it yet. But I'm not offended. Thick skinned. I'd say, hey, that car and house I wanted to buy last week, but couldn't because my offer was rejected because they asked for more, but 7 days later the sellers came back and accepted my offer, when I'd already bought a different house and car. I think it behoves the seller to clearly point out what happens in the case of a counter offer. Does it cancel the original offer or does it have no action on the original offer, which is still valid for the offer period (even if the seller made a counter offer during the offer period).

This needs to be clarified at GoDaddy, IMHO. Because it's against the norm. And from listening to what Joe is saying. GoDaddy seems to agree. GoDaddy are perfectly within their rights to have this offer period. It just needs to be clarified (spelled out what happens after they have counter offered).

That would be my opinion if I was to come out of the jungle for the first time :)
 
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OK. Firstly. I still live in the jungle. I haven't left it yet. But I'm not offended. Thick skinned. I'd say, hey, that car and house I wanted to buy last week, but couldn't because my offer was rejected because they asked for more, but 7 days later the sellers came back and accepted my offer, when I'd already bought a different house and car. I think it behoves the seller to clearly point out what happens in the case of a counter offer. Does it cancel the original offer or does it have no action on the original offer, which is still valid for the offer period (even if the seller made a counter offer during the offer period).

This needs to be clarified at GoDaddy, IMHO. Because it's against the norm. And from listening to what Joe is saying. GoDaddy seems to agree.

That would be my opinion if I was to come out of the jungle for the first time :)
"I was simply making point its clear when we make offer that the offer is binding for 7 days." - Alcy
 
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OK. Firstly. I still live in the jungle. I haven't left it yet. But I'm not offended. Thick skinned. I'd say, hey, that car and house I wanted to buy last week, but couldn't because my offer was rejected because they asked for more, but 7 days later the sellers came back and accepted my offer, when I'd already bought a different house and car. I think it behoves the seller to clearly point out what happens in the case of a counter offer. Does it cancel the original offer or does it have no action on the original offer, which is still valid for the offer period (even if the seller made a counter offer during the offer period).

This needs to be clarified at GoDaddy, IMHO. Because it's against the norm. And from listening to what Joe is saying. GoDaddy seems to agree. GoDaddy are perfectly within their rights to have this offer period. It just needs to be clarified (spelled out what happens after they have counter offered).

That would be my opinion if I was to come out of the jungle for the first time :)

ahahha.. yes the jungle.. hey which one is you from? maybe we're tree or cave neighbours

hahah jk

either way. you do have a point. maybe when people start thinkign certain things are the "norm".. just because most markets do them.. maybe then its best to clarify things further.

but to be fair.. and sorry if I missed it.. but does sedo say somewhere that any future counters void the previous offers made?

well.. I guess maybe they don;t need to.. cause it's the "norm"

cheers
 
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"I was simply making point its clear when we make offer that the offer is binding for 7 days." - Alcy

I understand that. But after a counter offer, it could go 1 of 2 ways. You offer could be invalidated or could still be valid. Which one is it? It needs to be clarified.
 
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but to be fair.. and sorry if I missed it.. but does sedo say somewhere that any future counters void the previous offers made?

well.. I guess maybe they don;t need to.. cause it's the "norm"

I haven't actually checked. But I gather from @MapleDots posts above that they do specifically state that (but I'm unclear where). Always better to spell these things out. IMHO.
 
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If it is not clarified. It means original offer still valid if seller accept.

It is written there
"If an offer or counter offer is accepted within 7 days, the transaction is binding and must be completed"
 
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I haven't actually checked. But I gather from @MapleDots posts above that they do specifically state that (but I'm unclear where). Always better to spell these things out. IMHO.

doesn't that make one wonder how many people out there, without such sedo clarifications.. would actually end up being as confused about the situation wherever the previous offers get voided by subsequent ones.. as some others may be confused, without proper gd clarifications, that previous offrs do not get voided by the following ones.

as you see.... norms can be quite a funny thing.. but.. norm or not.. all scenerios could use proper clarifications.. just so both the jungle men and the non jungle men are covered :)
 
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If it is not clarified. It means original offer still valid if seller accept.

It is written there
"If an offer or counter offer is accepted within 7 days, the transaction is binding and must be completed"

But because this is not the industry or world "norm" GoDaddy should go the extra mile to explain what happens when an offer is countered higher. To make sure that the buyer UNDERSTANDS that their offer is still valid for 7 days irrespective of any counter offers from the buyer. I would guess at least half of the time, the buyer doesn't understand that. Which is probably why @equity78 is explaining....

6) noticed that accepting initial offers at tdnam after a raise have very high percentage of non payments
 
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I can understand from this "If an offer or counter offer is accepted within 7 days, the transaction is binding and must be completed"

Seller can accept either offer or counter offer within 7 days. Right?
 
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I can understand from this "If an offer or counter offer is accepted within 7 days, the transaction is binding and must be completed"

Seller can accept either offer or counter offer within 7 days. Right?

Apparently not. According to @equity78's experiences.
 
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I can understand from this "If an offer or counter offer is accepted within 7 days, the transaction is binding and must be completed"

Seller can accept either offer or counter offer within 7 days. Right?
Apparently not. According to @equity78's experiences.

Yes seller can accept the initial buyer bid inside 7 days if buyer does not accept raise, no reply etc.

The point is that probably buyer when sees that seller accepted the initial, understands that initial offer was ok for seller but he tried for more as he had the option to accept the first offer as well, gets pissed off and does not pay. Another scenario is that inside 7 days buyer bought something else and run out of cash.
This is the way i would explain the lower percentage of payments at this case, but still are good comparing to other marketplaces that do not allow to accept initial bid at all.
From seller's angle it is far better option right?
 
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