A Domainers World Just Ended

[DOMiNIC]

For anybody who hasn't read this weeks DNjournal this is just Unbelievable. http://www.dnjournal.com/domainsales.htm

The same person allowed all of these names to drop and this is what they sold for at Snap Names.

VacationWorld.com $45,400

ShoppingWorld.com $25,500

AdvertisingWorld.com $21,000

ReligionWorld.com $18,250

EntertainmentWorld.com $17,750

CandyWorld.com $15,250

ArtistWorld.com $15,250

RetirementWorld.com $13,750

MedicalWorld.com $12,250

DoctorWorld.com $12,250

ConventionWorld.com $12,250

ExerciseWorld.com $ 8,487

MagazineWorld.com $ 7,000

AirlineWorld.com $ 6,487.

By my calculation that amounts to $230,874.00 and who knows how many more lesser valued world.com domains he let drop.

I guess this guy is thinking about dropping off the nearest tall building.

Anybody who says that Domains are like real estate and the stock market are wrong. This could only happen in the 'WORLD' of domains

 

[KingDon]

Nothing attracts a crowd like a crowd. The second you bid on anything, you tell others it has worth, then everyone wants it; this is what makes e-bay great for selling crap (except for domain names).

How many times have you looked at an Enom auction list to stop and research a name you wouldn’t normally spend 2 seconds on because it had bids? If these world names were solid sales, then they only help us, because most of us have names just as good as these.

One day the second inning will start and everyone will be scrambling for a seat, I say 2007.

 

[deet]

It's actually good to see the market is still very strong for the longer names.
I wonder if the former owner even knows how much they went for?
personally, I would have kept all of them.

 

[X_GuardiaN_X]

Just a reminder if you are buying atleast 5-10 domains a week you should keep a list and back ups handy :P.

 

[cache]

Wow!

So a name is not valuable until it drops. So here is the business plan:
start two businesses: one is a snapname-like company, another one is to buy
some domain names and let them drop.

 

[mrfike]

I agree with capiche, something seems wrong with the logic. Clearly something going on here that I really don't understand. Perhaps somebodys lying or perhaps we have some really stupid investors

Simple,
They've got a list of sucker corporate buyers, and another list of shills (probably real close to the payroll) just putting the 2 lists together and letting the sN magic take over.
:imho:

 

[slaughterbeck]

For anybody who hasn't read this weeks DNjournal this is just Unbelievable. http://www.dnjournal.com/domainsales.htm

The same person allowed all of these names to drop and this is what they sold for at Snap Names.


By my calculation that amounts to $230,874.00 and who knows how many more lesser valued world.com domains he let drop.

I guess this guy is thinking about dropping off the nearest tall building.

Anybody who says that Domains are like real estate and the stock market are wrong. This could only happen in the 'WORLD' of domains

In the stock market they call this “cookin’ the books”.
Only time will tell how much this move will do to increase the value of these names.

 

[fleshas]

crap...

 

[RJ]

Everyone is missing something important here. If you're with Network Solutions (which it looks like is the case here) and your name drops and goes to SnapNames for auction, you get 25% of NetSol's proceeds from the name. That equates to around 1/8th of the final SnapNames price, so if my calulation is correct this domainer netted almost $30k by letting his domains drop. Still feel as sorry for him?

Last year I made a few hundred bucks like this letting names drop that I couldn't sell. If dropping domains continue to be overpaid for at auction, maybe this isn't such a bad stragegy!

 

[armstrong]

Is that by default, RJ? Don't you have to check a box somewhere to say "I want my 25%" before the domain expires?

 

[RJ]

Is that by default, RJ? Don't you have to check a box somewhere to say "I want my 25%" before the domain expires?

It's part of their default terms. You do however have to respond to an email AFTER your name is sold to claim your money. Follow a link to confirm your mailing address. Then you get a check for the amount. It's easy enough process. I hope the domain owner didn't ignore that email as well. NetSol keeps the money in that case.

Here's the terms from their website. I added bold to the applicable parts.

14. Grace Period; IP Address Changes; Renewal and Transfer of Expired Domain Names on Your Behalf. You agree that we may, but are not obligated to, allow you to renew your domain name after its expiration date has passed. You agree that after the expiration date of your domain name registration and before it is deleted or renewed, we may direct your domain name to an IP address designated by us, including, without limitation, to an IP address which hosts a parking, under construction or other temporary page that may include promotions and advertisements for, and links to, Network Solutions’s Web site, Network Solutions product and service offerings, third-party Web sites, third-party product and service offerings, and/or Internet search engines, and you agree that we may place our contact information in the WHOIS output for the expired domain name. Should you not renew your domain name during any applicable grace period, you agree that unless you notify us to the contrary we may, in our sole discretion, renew and transfer the domain name to a third party on your behalf (such a transaction is hereinafter referred to as a “Direct Transfer”), and your failure to so notify us after the domain name expiration date shall constitute your consent to such a Direct Transfer. In the event we are able to identify such a third party (the “Direct Transfer Customer”) and effectuate such a Direct Transfer, we will notify you via email after the transaction is completed (“Direct Transfer Notification”). Additionally, you will be eligible to receive a portion of the funds received by us as a result of a Direct Transfer of your domain name, as follows: (i) if you registered your domain name with Network Solutions directly through our Web site, you will be eligible to receive twenty percent (20%) of the Net Proceeds received by us from our third party vendor as a result of a Direct Transfer; and (ii) if you registered your domain name with Network Solutions through a third party agent (such as your ISP, for example), you will be eligible to receive fifteen percent (15%) of the Net Proceeds received by us from our third party vendor as a result of a Direct Transfer. You acknowledge and agree that the Direct Transfer process may be facilitated through a single Direct Transfer Customer, or through a brief auction involving multiple parties who are interested in your domain name. For purposes of this paragraph, “Net Proceeds” shall mean the total fees paid to us by our third party vendor as a result of a Direct Transfer, less any registry fees, credit card charge-backs, processing and check fees, and other costs or fees associated with the Direct Transfer of the domain name. You agree that we shall have no obligation to pay you, and you shall have no right to receive, any percentage of the Net Proceeds unless, within ninety (90) days after the date of our Direct Transfer Notification, you first provide us with the name, address and related information requested by us (including, but not limited to, a Form W-9, if applicable) in our Direct Transfer Notification. We cannot guarantee, and we make no representation or promise, that any Direct Transfer will occur with respect to your domain name.

My 25% figure was wrong, looks like it's only 20%, which would mean 10% of the final Snap bid price goes to the original domain owner (assuming Netsol is getting half of the proceeds from SnapNames auctions.) Still a nice $23k payday.

 

[JMJ]

Everyone is missing something important here. If you're with Network Solutions (which it looks like is the case here) and your name drops and goes to SnapNames for auction, you get 25% of NetSol's proceeds from the name. That equates to around 1/8th of the final SnapNames price, so if my calulation is correct this domainer netted almost $30k by letting his domains drop. Still feel as sorry for him?

Last year I made a few hundred bucks like this letting names drop that I couldn't sell. If dropping domains continue to be overpaid for at auction, maybe this isn't such a bad stragegy!

And it's an even better deal if you're the owner and you're behind the bidding button driving up the bid price for the name. SnapNames and Netsol would love for all of us domainers to see this service as a great thing. Displaying all of these big drop auction prices and promissing 25% of the deal so they can keep us quiet until they slip the process by ICANN.

Once they get it approved you better bet auction prices will be astronomical but remember you only get 25% of the sale and hitting one of these huge sales will require just as much luck as it would be selling a name any other way. And with your measly 25% you will have to pay 100% in other auctions for more names to keep your inventory up. See how that works out?

 

[slaughterbeck]

New Thread:

Let's hope they didn't change email addresses and we can start a new thread:


A Domainers World just began!

 

[smub]

aww man poor guy ...

one thing everybody should learn ... : be confident in your domains

 

[slaughterbeck]

aww man poor guy ...

one thing everybody should learn ... : be confident in your domains

They probably made more money letting them drop than they ever would have otherwise.

 

[mole]

Can anyone here post the bid sequence information for these domains? Something strange is cooking, it'll be interesting to see what's floating in the soup.

 

[JMJ]

Can anyone here post the bid sequence information for these domains? Something strange is cooking, it'll be interesting to see what's floating in the soup.

I think thats skunk you're smelling.

 

[mojojo]

Maybe the poor guy died before all his domains expired >rip>



Or maybe he died after losing the names :P

 

[Grrilla]

Maybe the poor guy died before all his domains expired >rip>



Or maybe he died after losing the names :P

Do you think the excitement of the 30K just got to him? :hehe:

And it's an even better deal if you're the owner and you're behind the bidding button driving up the bid price for the name. SnapNames and Netsol would love for all of us domainers to see this service as a great thing. Displaying all of these big drop auction prices and promissing 25% of the deal so they can keep us quiet until they slip the process by ICANN.

That's a good point. The drop services have done a good job of hiding their intent by candy coating their auctions each step of the way. Initially the stated purpose of auctioning off drops was "to give all of our loyal customers a fair shot at acquiring a drop". A more accurate way of stating their purpose in implementing an auction system would have been: "To drive our preferred buyers, (AKA buyers with deep pockets), into competition for the drops, and jack-up our revenue. Why sell something for $60 when we can boost the quality of our clientele, filter out the riff-raff and create an environment that will drive the prices up 100 fold? And, gang, we'd better push it through while the iron is hot and before our business becomes regulated like that of any of other commodity business."

If, indeed, there are no restrictions in place that disallow an (ex-)owner from bidding on names that he allows to drop, than NetSol/Snap are fostering and supporting the practice of shill bidding in their auctions. At best, they are practicing a form of calculated negligence- a practice that has become all too common in today's business models. (ie the rebate coupon that never arrives, the promised deduction that doesn't appear on the statement, the frustrating waits and pass-offs when attempting to resolve a problem on the telephone. The email that never recives a response because it "got lost".) It's not hard to figure out why they would support an unethical and, in many instances, an illegal practice by turning their backs away and pretending that nothing could be amiss. After all, it's a perfect world from their point of view.

I hope there is someone out their who is not in bed with the industry and has the passion and the resources to call these companies on their smokescreens and take them to task. In the meantime, I hope that most of us don't get sick from the overubundance of candy-coated bull-sh~t that we are all being fed.

 

[TT]

Do you think the excitement of the 30K just got to him? :hehe:

That's a good point. The drop services have done a good job of hiding their intent by candy coating their auctions each step of the way. Initially the stated purpose of auctioning off drops was "to give all of our loyal customers a fair shot at acquiring a drop". A more accurate way of stating their purpose in implementing an auction system would have been: "To drive our preferred buyers, (AKA buyers with deep pockets), into competition for the drops, and jack-up our revenues Why sell something for $60 when we can boost the quality of our clientele, filter out the riff-raff and create an environment that will drive the prices up to 100 fold? Better do it while the irons hot and before our business get's regulated like any of the other commodity."

If, indeed, there are no restrictions in place that disallow an (ex-)owner from bidding on names that he allows to drop, than NetSol/Snap are supporting the practice of shill bidding to take place in their auctions. It's not hard to figure out why they would support an unethical and, in many instances, an illegal practice by turning their backs away and pretending that nothing could be amiss. After all, it's a perfect world from their point of view.

I hope there is someone out their who is not in bed with the industry and has the passion and the resources to call these companies on their smokescreens and takes them to task. In the meantime, I hope that most of us don't get sick from the overubundance of candy-coated bull-sh~t that we are all being fed.

Could'nt have said it better myself, lets not forget internally driven bidders !!!

 

[eyedomainous]

perhaps the person died, or is seriously ill, and is a 'loner' without a will or simply never tought to inform the next of kin of his or her domain holdings.

where in the world is the *world* domainer??? There's a lesson here... not to mention a (syndication) article (Dominic )