Afternic Problem - Need Advice

[samtex]

Wanted to see if I could get some advice from the community.

I have some domains listed on Afternic, from an account I have mainly forgotten about. Recently someone decided to buy one of my domains for a $xx,xxx buy it now price that was listed. I had not even known that I placed a buy it now and I think at the time I set it really high just so I could measure interest but not to sale. Amazing how the value changed so much in such a short period of time. I also listed many domains.

My problem is that it seems the buyer had all control in this transaction. I wasn't even contacted until a day before the buyer transferred money for the domain. Afternic also is charging obscene fees for this transactions, 10%.

Basically I do not want to sell this domain or did I ever want too. (I know I should not have listed them then). It was a well over a year ago.

Afternic is telling me I have to complete the transaction, I should have added the sales fees into the prices (what?!). They gave me some fluffy message about how Afternic is a valuable asset to the community and must charge these high fees to maintain the site. Give me a break.

Any advice how to get out of this?

 

[verbster]

Unfortunately, you messed up. It's sort of like going to a grocery store and buying an apple for the publicly advertised price. At the cash register, they charge a higher price, claiming they "forgot" to change the price. In most cases, you'll get the apple for the cheaper price.

You could probably just refuse to complete yoyr side of the escrow process, but that's pretty crappy of you. Man-up and sell the domain like you agreed to when you listed it.

The 10% sales commission has always been there. Feel lucky...it's higher now with the new owners and their "expanded" program.

 

[The Stealthy One]

You can't get out of it. You offered something for sale, and someone bought it. Moral of the story: Don't offer something for sale if it is not actually for sale.

 

[samtex]

Thanks Verbster for the advice.

Honestly I am not so worried about the sales fees, its typical when I have used brokers before, and the profit from the domain sale is very good.

I just don't want to sell because I planned to develop the domain. hmmmm...

 

[The Stealthy One]

Well, you've done it now. At this point in time, you have two choices: right, or wrong. Which will you choose?

 

[Name Trader]

Sell it, buy another domain with the proceeds, develop that instead. Move on. That's the correct way.

 

[DropLister]

sell it cause your sorta legally binded, or duck out 'sup to you.

 

[mirrorcube]

Afternic doesn't impose any legally binding contract. A seller walked out of an accepted transaction with me, and Afternic said tough luck pal, we cant really do anything about it. So in essence what i'm saying is that you can get out of it technically but they will suspend your account...However being on the end of a situation like this, I really found the seller's actions dishonorable. The domain community isn't as big as you think and you should care about your reputation as a domainer. So the bottom line is you CAN get out it but you SHOULD honor your commitment if you set a buy it now price in a marketplace and someone has accepted those terms. But as always this is just one mans opinion.

 

[danielr]

I dont think this is the first person who sells on afternic that this has happend to. Lots of people list their names for sale and put in a "asking price" and totally forget about it. Then the domain goes way up in value and you stuck selling it or you loose your reputation as a domainer.

I once read a forum thread on discussnames.com years ago about a similar incident and when the buyer clicked on the "buy it now" and after the price was raised ,and they buyer was very upset. Unfortunately the seller was somebody connected very close to afternic like "Buy D*****s" and when you run your own company and have friends you can do as you please. However the seller made an honest mistake and listed the asking price much lower than it was worth.

You learn from your mistakes in this business and this forum is a great place to share mistakes... so others can learn as well.

I personally don't have to depend on domain sales but I do them every once in a while. But I have a freind who does domain negotiations for a living and he is very good at it. When I get an initial offer on a domain he always has me counter much higher than I ever intended to get for the name. His rational is ..."You can always negotiate down, but you can very rarely negotiate up effectively". Same situtation here in your case.

I suggest you just let it go and move on.

 

[floatingworld]

do the right thing.