status-resolved A potential scenario with BrandBucket Auctions

[equity78]

I know of no issues yet, but I want to get out in the open the Namepros official policy for this possible scenario.

BrandBucket published names being auctioned on Namepros have become popular over the last year.

So someone is auctioning a BB published name, the auction is running and the seller gets an email from BrandBucket, "Congrats ******.com has sold"

Is the auction closed and the seller can keep the proceeds, they must let the auction close and the winner gets the sale, or they split the sale with the high bidder ?

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Update:

• Here's how it works on NamePros

 

[DNGear]

As per @Eric Lyon, (FORUM RULES) once we started the auction, Domain belongs to the auction winner.

So Auction winner got the sale.

 

[Eric Lyon]

NamePros is not affiliated with BrandBucket. As oultined in our rules, all auctions must be exclusive to NamePros and are binding sales agreements. Once a bid is placed in an auction thread, it becomes binding and the seller may not back out of the agreement under any circumstances.

Failure to honor a binding sales agreement can result in a bad business infraction that could potentially limit a members access to NamePros.

It's important that all sellers keep the marketplace and auction rules in mind prior to starting a sales thread. It is the seller's responsibility to make sure that they can fulfill their commitments on NamePros.

Hope that helps,

* Update: More details.