When I report a domain name sale to NameBio I provide or at least am always willing and able to provide proof in the way of escrow or other screenshots. With my higher price sales I am required to provide proof.
I understand that when Mike Mann or Rick Schwartz report their sales to Ron Jackson / DNJ they provide NO proof.
Also, I understand that when Mike Mann or Rick Schwartz "sell" a domain with an installment plan, they immediately report it as SOLD for the entire price, even if only a deposit was made and even if the buyer eventually defaults on the payments. (On the other hand, I just "sold" a domain for high five figures with a substantial deposit of mid-five figures and yet since payments go out for the next couple years, Michael at NameBio let me know that he may not report it as a sale until after the last payment is completed and the domain is transferred, not to escrow holding, but to the buyer.)
For example,
this is an example of a reported "sale" by Rick Schwartz that obviously ended up with payment default by the buyer, and yet was reported as a done deal from day one. I understand that Mike Mann does the same.
So, how many of Mike Mann’s and Rick Schwartz's reported sales are either inaccurate (in that they are posted without proof) or based on, to put it kindly, "forward-looking statements" of installment plans that are not yet completed. May we even know?
I understand that when Mike Mann or Rick Schwartz report their sales to Ron Jackson / DNJ they provide NO proof.
Also, I understand that when Mike Mann or Rick Schwartz "sell" a domain with an installment plan, they immediately report it as SOLD for the entire price, even if only a deposit was made and even if the buyer eventually defaults on the payments. (On the other hand, I just "sold" a domain for high five figures with a substantial deposit of mid-five figures and yet since payments go out for the next couple years, Michael at NameBio let me know that he may not report it as a sale until after the last payment is completed and the domain is transferred, not to escrow holding, but to the buyer.)
For example,
I recall this:
http://www.ricksblog.com/2008/07/propertycom-sol/#.WjtH7SuIaaM
Must not have worked out as the domain currently reverts to Schwartz’s landing page, pending whatever has now happened (or will happen).
If someone has the time or inclination could take a look at waybackmachine figure out how many “payments for life” were even made on this past 2008 deal.
Actually it’s a tangled web to even figure out how many have acquired property.com and then defaulted on payments. Reminds me of this huge vacant rural property that a friend of my Dad’s owned that this guy would constantly sell for a down payment and a note then eventually foreclose on the note and sell it to someone else, for a repetition of the same cycle.
I also recall that it was reported that Schwartz had another domain flippedproperty.com that he held for something like a decade then simply let go last year without paying the reg fee.
this is an example of a reported "sale" by Rick Schwartz that obviously ended up with payment default by the buyer, and yet was reported as a done deal from day one. I understand that Mike Mann does the same.
So, how many of Mike Mann’s and Rick Schwartz's reported sales are either inaccurate (in that they are posted without proof) or based on, to put it kindly, "forward-looking statements" of installment plans that are not yet completed. May we even know?
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