NameLiquidate weird behaviour

M0rd0r said:

Hi!

I have just lost the auction for the domain Temporal \\ Data (dot) com

I bid $9. As you can see in the picture 19 minutes ago I was winning the auction:

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As you can see in the following picture, 26 minutes ago the TemporalData.com domain price was $99.


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This behaviour is really weird....because this is a reverse auction where price is dropping hour by hour. $99 is really far from the winning auction at that moment ($9).

I have checked the behaviour in another domains I have bought in NameLiquidate.com and definitely it is not a normal behaviour. The expected price for TemporalData.com 26 minutes ago would be around $20-$25.

¿What I am missing?
Thanks!

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Wali Dahot said:

99$ might be the reserve for that auction so the price wont drop below 99$.

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M0rd0r said:

As far as I know you can not bid below reserve price.

In this case I could put my bid on $9.

Maybe the seller changed the reserve price after my bid? It is allowed?

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DanSanchez said:

Thanks for raising this question. This occurred because the seller changed the reserve amount after your bid was entered. Something I personally had not done or seen done. But upon inspection, everything is working as designed.

Your bid and the seller's reserve match the front-end, the logs indicate the same action. I did reach out to the seller for confirmation though, just to rule out all possibilities of a bug.

If you want, I forward your email to the seller and you guys can negotiate for a better reserve. The domain is still listed in the bargain section for the reserve price. It is worth mentioning, putting your domains on liquidation takes guts. Separation anxiety is REAL and most of us have dealt with it at the closing table, all too often.

Happy to help with anything further, you can reach me directly daniel AT epik .com

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Samer said:

Wow, reserves are allowed added retroactively after you bid on a no reserve?

Really, Dan?

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Samer said:

Wow, reserves are allowed added retroactively after you bid on a no reserve?

Really, Dan?

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jamesall said:

This is illegal in the auction world isn't it? In fact auction manipulation is illegal in most countries.

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Samer said:

At least if they remove listing,

i take solace they’re prohibited relist 30 days.

Should only allow “adding reserve” to no-bids

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DanSanchez said:

This isnt an auction guys, you have a fixed price and the seller has the ability to prevent a sale by removing the name too. The bid is a pre-bid to trigger a purchase when the price drops to your bid.

I think it's a brilliant way of stating your desired price. This isnt a forced expired domains auction from Godaddy, you are dealing with individual (highly proficient) domainers. I invited the seller to share his perspective, I'm sure he will engage if he wants to.

Ultimately your participation with a bid was noted and he countered immediately with an instant fixed cost.

I think once we add the number of views inside the domain listings, buyers will never again underestimate how many of you are truly competing in NL. This particular seller has one of the highest number of closed sales in the short history of NL.

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jamesall said:

True, I have worked on auction sites and I have worked on sites that accepts bids. However, as soon as you mention the word auction, then it automatically falls under the laws according to auctions.

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RJ said:

I am going to have to disagree with you my friend. The ability to add a reserve can be good for both buyer and seller. Sellers can remove a name at any time before it sells, but if the listing is removed, it eliminates any chance for buyer to purchase the name. Current system enables a process of negotiation and buyers can consider increasing their offer if they really like a name, instead of it just going off the market.

A proxy bid is only turns into an actual sale if the price reaches that level. If the price never lowers to proxy bid, then bid is not valid and there's no deal. This is not like a normal auction.

In fact, I think NameLiquidate should allow bidders to place proxy bids below the current reserves. As a buyer, that would let me communicate to the seller that I am interested in a name if the reserve was lower. Sellers could see the interest and be encouraged lower their prices. Again, this could be a good thing for buyers and sellers. I see a lot of names listed now that I would like to place liquidation bids on, but can't due to reserves.

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cabotower said:

once a bid is placed the buyer's ability to remove the name or make any changes should be blocked. it should be allowed to play out.

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