domains .Ai going to require a 5% deposit Should all auction houses implement a deposit requirement?

[equity78]

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.Ai is going to be initiating deposit requirements for their expired auctions. Vincent Cate also doubled down on the fact that only the domain owner will know when their .ai domain name expires. You can click on the below tweet to read the discussion.Would you like to see other auction house follow this move? How would it look if GoDaddy made all potential bidders adhere to a deposit … [Read more...]

 

[pb]

Let's see how it affects the final auction prices. No more malicious upbidding and accidentally winning the auction...

 

[silentg]

Don't like the part where they won't remove bids of these non-payers / shill bidders from other auctions that they were not the winning bidders.

 

[biggie]

Vincent Cate

Hi

my intuition tells me -
.ai has the big head, so they gonna run full game on this, till the wheels fall off the wagon.

puff, puff

imo....

 

[draco]

A friend of mine actually suggested this, but with a much higher deposit, when I mentioned a couple domains of mine were purchased on GoDaddy, but never paid for.

The main problem with this is how do you handle large and/or multiple domain purchases? Are you really going to have all those credit card charges and then refunds? What happens if you have to pay by wire transfer? That's a lot of wire transfer fees, especially if they have to send the money back.

 

[equity78]

A friend of mine actually suggested this, but with a much higher deposit, when I mentioned a couple domains of mine were purchased on GoDaddy, but never paid for.

The main problem with this is how do you handle large and/or multiple domain purchases? Are you really going to have all those credit card charges and then refunds? What happens if you have to pay by wire transfer? That's a lot of wire transfer fees, especially if they have to send the money back.

Agree that's what I always thought of, all the refunds. Unless you made people establish a bidding account where the money just goes into there.

 

[pb]

A friend of mine actually suggested this, but with a much higher deposit, when I mentioned a couple domains of mine were purchased on GoDaddy, but never paid for.

The main problem with this is how do you handle large and/or multiple domain purchases? Are you really going to have all those credit card charges and then refunds? What happens if you have to pay by wire transfer? That's a lot of wire transfer fees, especially if they have to send the money back.

You can block the amount on the cc and release it without charge. Similarly with paypal, you can refund the payment and the commission is also cancelled. Wire transfer is a bit more tricky, esp. international.

 

[Grilled]

FWIW, I think @namesilo requires your account to be funded 100% of your bid amount. Might be an option worth exploring.

 

[GoKaizen]

NameCheap requires you have $100 in your account at all times to bid on expired domains.

Frustrating but supposedly it prevents shill bidding.

 

[D Haynes]

NameCheap requires you have $100 in your account at all times to bid on expired domains.

Frustrating but supposedly it prevents shill bidding.

I can see how this might work. The GD shill bidding strategy appears to require the opening of multiple accounts so requiring every new account have money moved into it would make it harder for shillers to create throwaway accounts.

 

[Corey]

Good Idea imho

Cheers
Corey

 

[alop]

Hi

my intuition tells me -
.ai has the big head, so they gonna run full game on this, till the wheels fall off the wagon.

puff, puff

imo....

It's too many Samuel bankmans

 

[JH1961]

Good Idea. Ive been ghosted on 2 sales in the last 3 weeks. x,xxx and xx,xxx.
Seems you can just Hit BIN and then walk away...