auctions 3377.com SOLD for $113,000

[Reset]

3377 .com SOLD for $113,000 at the GoDaddy expired auctions.

https://twitter.com/i/web/status/1601639543811100673

 

[Kingslayer]

I’m curious who does this $113k go to? If it’s the registrar (in this case GoDaddy), do people think it is fair a registrar can profit (100%) from a domain they did not own for no reason other than the previous owner trusted them with their asset?

This practice is just accepted in domains, but something doesn’t sit right with me on it, this wouldn’t happen with any other asset (physical or digital) so why domains?

A name being dropped like that, more times than not something has happened with previous owner (could be health issues or even death), a name that is clearly valuable (and not a deliberate drop) a registrar in my opinion have a duty to their customer who trusted them with their asset and they should go all out trying to contact this person (phone calls/letters to address and contacting next to kin) before auctioning it off, so the rightful owners friends/family can benefit from this asset should something have happened to the owner.

 

[M.Y]

I agree with your point, but If all communications were unsuccessful and the registrar was not allowed to profit from this, then who? Does the domain goes back to registry for them to auction or sell at a premium price or domain just left to expire for drop catch services to auction? Not an easy one.

 

[xcloud123]

I’m curious who does this $113k go to? If it’s the registrar (in this case GoDaddy), do people think it is fair a registrar can profit (100%) from a domain they did not own for no reason other than the previous owner trusted them with their asset?

This practice is just accepted in domains, but something doesn’t sit right with me on it, this wouldn’t happen with any other asset (physical or digital) so why domains?

A name being dropped like that, more times than not something has happened with previous owner (could be health issues or even death), a name that is clearly valuable (and not a deliberate drop) a registrar in my opinion have a duty to their customer who trusted them with their asset and they should go all out trying to contact this person (phone calls/letters to address and contacting next to kin) before auctioning it off, so the rightful owners friends/family can benefit from this asset should something have happened to the owner.

you are a kind man!

 

[NickB]

There's a few more 4N .com's that have been dropped as well

1326
6627
4855
6097
0266
4528
3143

From the same portfolio?

There's been 93 dropped in the last 12 months and 2 sold at Sedo

Exclude the 2 from Sedo that works out at nearly 8 being dropped a month......Mostly at Godaddy who have done pretty well from these NNNN drops.....

 

[Kingslayer]

I agree with your point, but If all communications were unsuccessful and the registrar was not allowed to profit from this, then who? Does the domain goes back to registry for them to auction or sell at a premium price or domain just left to expire for drop catch services to auction? Not an easy one.

Obviously if all communication is unsuccessful only then should the registrar be allowed to profit.

But what is their communication? It's just an automated email to say domain is expiring/and has expired. If something has happened to the owner, they are not going to have access to their e-mail, why not send a text to this person's phone along with a contact number to the registrar? A family member/friend will have access to phone and will see this message or even better have a representative of a registrar actually work on it (letters to address, tracking down via social media etc) if the domain is clearly valuable, but the reason they don't is because they don't want them to renew.

Sometimes it can take longer than 30 days for a funeral, yet after 30 days a valuable asset is taken by a registrar and auctioned off and they receive 100% whatever it sells for, something doesn't sit right with me on that.

I don't have all the solutions, but the time frame should be longer than 30 days for assets clearly not deliberate drops (possibly 90 days) and more must be done to contact the owner than just an automated e-mail.

I'm an advocate of ICANN having a 'secondary contact' section should a domain not be renewed (phone/address or Facebook profile) and if all contact fails with the owner, there is a rule that all registrars must contact this secondary contact before they auction off an asset.

 

[SuperDudePro]

I’m curious who does this $113k go to? If it’s the registrar (in this case GoDaddy), do people think it is fair a registrar can profit (100%) from a domain they did not own for no reason other than the previous owner trusted them with their asset?

This practice is just accepted in domains, but something doesn’t sit right with me on it, this wouldn’t happen with any other asset (physical or digital) so why domains?

A name being dropped like that, more times than not something has happened with previous owner (could be health issues or even death), a name that is clearly valuable (and not a deliberate drop) a registrar in my opinion have a duty to their customer who trusted them with their asset and they should go all out trying to contact this person (phone calls/letters to address and contacting next to kin) before auctioning it off, so the rightful owners friends/family can benefit from this asset should something have happened to the owner.

While not exactly the same, it does have parallels in other markets. If I finance a car and don't pay it off, the finance company will repossess it and then sell it. The big difference is that the domain name isn't worth less because it has been previously owned. But the person who didn't pay loses the whole car and can't demand anything back.

If I don't pay my real estate taxes, the county (or whatever government agency) will auction it off.

What is most strange to me is that people will in many cases pay more for something at an expired auction than they will if it was a regular auction or being offered on namepros, for example. This tells me that most people can't or don't trust themselves to value domains independently and instead wait to see what the crowd says is valuable and then try to jump in. Because of this, it would be better for me (I value my own appraisal hunches) if everything dropped instead of going to the registrar/market place auction. Yet I'm also time-limited, so the current system suits that constraint for me.

I agree with your ICANN suggestion. I'm getting older and don't have anyone who knows what to do with domains who would be handling my affairs if I die. I have instructions, but no way to ensure that the whole portfolio doesn't disappear. I don't have proof, but I bet that a lot of the good drops we see are death/illness related. It morbid, but its reality for us now. A second email address would be an easy accommodation.

I don't necessarily believe that they should 'go all out' to find out what happened. Emails to the contact information (which is supposed to be updated) and enough time of being given notices seem enough. Why should a registrar send a legal team out to find out what happened to a missed $10 renewal?

 

[Kingslayer]

While not exactly the same, it does have parallels in other markets. If I finance a car and don't pay it off, the finance company will repossess it and then sell it. The big difference is that the domain name isn't worth less because it has been previously owned. But the person who didn't pay loses the whole car and can't demand anything back.

If I don't pay my real estate taxes, the county (or whatever government agency) will auction it off.

If you finance a car, you don’t own it until you pay for it, so can understand and agree with a finance company being able take back the car and sell it if you don’t pay for it.

Same with your real estate example, if you owe money to the state or if you pass away and no next to kin or don’t have a will, a persons property should go to the state (everyone).

I’m ‘for’ registrars being able to profit if no one comes forward and claim the domain, but as said in my reply above, more times than not a premium domain asset drop will not be a deliberate drop, it will be dropped because something major has happened in the owners life and their family don’t know about renewals or don’t how to access the domain owners account, selling off an asset after just 30 days if the owner has passed away, it just makes matters worse, especially if in this case it’s a 6 figure asset.