discuss Crap I just bid on a domain I did not want!!

[MapleDots]

HeHe

So it's late for me, have not eaten and have a bit of a sugar low. I see this domain for sale on GoDaddy and it's actually pretty sweet. Starting bid was quite reasonable and I figured it was way too low for a premium domain so I wanted the seller to think I was serious.

So guess what.... I bid twice the opening bid amount and felt pretty good that I had a chance the offer would get accepted.

Then..... a wave of something overcame me and I went to dictionary.com and sure enough I had a misspell on my hands, the domain had an extra letter that did not belong.

CRAP

So there I sit looking at the domain name trying to justify how I could possibly put it to use. No matter how I flipped it I figured I just wasted some good money. The owner of the domain would surely be accepting my offer.

Almost an hour to the T the seller came back with a counter for a couple hundred bucks more than my double sized offer.

HeHeHe.... I just chuckled to myself. The guy had a solid offer on a misspell and got greedy, he had to ask another couple hundred bucks. Well, that lets me of the hook, now I can go spend the money on something I actually want.

Lesson to seller: If you have a misspell that is close to the real word there is a chance the bidder did not realize it was a misspell. If you counter, you let him off the hook.

Think about accepting the bid on a misspell because you might not get a second bid when the guy on the other end realizes its a misspell.


So how was your day

 

[Name Trader]

From seller's angle it is far better option right?

Yep. But I think it could be more better explained to the buyer. Which I think GoDaddy are changing.

 

[dr manos]

When you pace a bid it clearly states your offer is binding for 7 days, with no conditions.
There is nowhere a point there that after a raise bid is not binding.

 

[equity78]

Apparently not. According to @equity78's experiences.

Well it was Manos comment at my blog Stu.

 

[equity78]

Yes seller can accept the initial buyer bid inside 7 days if buyer does not accept raise, no reply etc.

The point is that probably buyer when sees that seller accepted the initial, understands that initial offer was ok for seller but he tried for more as he had the option to accept the first offer as well, gets pissed off and does not pay. Another scenario is that inside 7 days buyer bought something else and run out of cash.
This is the way i would explain the lower percentage of payments at this case, but still are good comparing to other marketplaces that do not allow to accept initial bid at all.
From seller's angle it is far better option right?

Right I am watching Shark Tank right now, I am looking for $200,000 for 10% Cuban says I will give you the $200,000 for 33% the business owner says Mark I would like to counter at 20%, Mark Cuban says no, long pause, ok I will do 33%. So the owner got to counter but came back and accepted the lesser deal. Now of course on Shark Tank they can pull their deal at anytime and say "I'm out."

 

[MapleDots]

But because this is not the industry or world "norm" GoDaddy should go the extra mile to explain what happens when an offer is countered higher. To make sure that the buyer UNDERSTANDS that their offer is still valid for 7 days irrespective of any counter offers from the buyer. I would guess at least half of the time, the buyer doesn't understand that. Which is probably why @equity78 is explaining....

That sir takes the prize for the best answer in my opinion.

It is especially because it's outside the norm that the clarification has to be CRYSTAL clear.

 

[Name Trader]

When you pace a bid it clearly states your offer is binding for 7 days, with no conditions. There is nowhere a point there that after a raise bid is not binding.

Please read my post before yours again. Thanks.

 

[Recons.Com]

Godaddy's position on this is against common law practice and I am not sure it would be defendable by them, if anyone took the case to court.

Basically, when someone issues a counteroffer, he effectively declines the offer and hence takes it off the table.

Stating something in TOS that is opposite of law should not make it legal.

"An offeree can conclude a bargain by accepting the offer he is given but only if his power of acceptance has not been terminated.

Termination of the offeree’s power of acceptance can result from any of the following six causes:

1. expiration or lapse of the offer,
2. rejection by the offeree,
3. a counteroffer by the offeree,
4. a qualified or conditional acceptance by the offeree,
5. a valid revocation of the offer by the offeror, and
6. by operation of law.

(3) A counteroffer by the offeree
The offeree’s power of acceptance can also be terminated by a counteroffer.

A counteroffer is an offer made by the offeree to the offeror that concerns the same subject matter as the original offer but differs in its terms. For example:

Picasso offers to paint Michelangelo’s house for $5,000. Michelangelo tells Picasso that he will pay $4,000. Michelangelo has given Picasso a counteroffer which terminates his power to accept Picasso’s original offer. Once Michelangelo has made his counteroffer, Picasso does not have to paint Michelangelo’s house if Michelangelo changes his mind and accepts Picasso’s original offer.
As we have just said, the legal effect of the counteroffer is that it terminates the offeree’s power of acceptance. However, the counteroffer is also an offer in and of itself and therefore, it creates a new power of acceptance in the original offeror. Note our example:

Picasso offers to paint Michelangelo’s house for $5,000. Michelangelo tells Picasso that he will pay $4,000. Michelangelo has given Picasso a counteroffer which terminates his power to accept Picasso’s original offer. However, the counteroffer is also an offer in and of itself so that Picasso can either accept Michelangelo’s offer to paint the house for $4,000 or he can reject the offer.
Please note that the offeree’s power of acceptance is not terminated by an inquiry concerning the offer or by a request for different terms. For example:

1. Picasso offers to paint Michelangelo’s house for $5,000. Michelangelo asks Picasso if the price includes the cost of materials. This is not a counteroffer and Michelangelo is still free to accept Picasso’s offer.
2. Picasso offers to paint Michelangelo’s house for $5,000. Michelangelo asks Picasso is there is any way he would do it for $4,000. This is not a counteroffer. This is simply a request for different terms and it does not terminate Michelangelo’s power to accept Picasso’s offer.

An option contract is a contract in which the offeror promises to keep his offer open for a certain amount of time and the offeree actually gives the offeror consideration for that promise (as opposed to our examples at the beginning of this chapter where no consideration is given for the promise to hold the offer open).

Where option contracts are involved, a counteroffer made during the option period does not terminate the power of acceptance because the offeree has the contractual right to have the offer held open during its term. See Humble Oil and Refining Co., v. Westside Investment Corp., 428 S.W.2d 92 (Tex. 1968). For example:

Picasso offers to paint Michelangelo’s house for $5,000. Picasso agrees to keep the offer open for one month and, in exchange, Michelangelo gives Picasso $100 to keep the offer open for the month. In this situation, any counteroffer that Michelangelo makes during that month does not terminate his power of acceptance because he has the contractual right to have the offer held open for the entire month and thus, he has the contractual right to accept that offer for the entire month. "

https://lawshelf.com/courseware/entry/termination-of-the-power-of-acceptance

 

[Name Trader]

@Recons.Com - I would have thought that GoDaddy's hard working legal team would have had this fairly well covered. You are assuming that a counter offer always rejects the original offer. This might be the case in most offer/counter-offer situations. But it doesn't mean GoDaddy cannot alter the meaning of the original offer to make it valid for 7 days despite receiving counter offers. It might be different to the norm. But it wouldn't make it illegal. IMHO. I think their current working situation would pass muster thru the courts. But I would also recommend they clarify this to both the buyer and the seller. So there can be no misunderstanding on either side.

 

[Recons.Com]

@Recons.Com - I would have thought that GoDaddy's hard working legal team would have had this fairly well covered. You are assuming that a counter offer always rejects the original offer. This might be the case in most offer/counter-offer situations. But it doesn't mean GoDaddy cannot alter the meaning of the original offer to make it valid for 7 days despite receiving counter offers. It might be different to the norm. But it wouldn't make it illegal. IMHO. I think their current working situation would pass muster thru the courts. But I would also recommend they clarify this to both the buyer and the seller. So there can be no misunderstanding on either side.

First of all, as it stands now, Godaddy TOS does not specify that offer stands even with counteroffer. So, basically, any person would understand that common law/common sense would apply that counter-offer cancels offer, even for a smallest of a change.

Second, even if GD changes TOS now to specifically say that a) that cannot be applied back to the past cases; b) even then I would not be sure it would stand in court. Your ToS is supposed to be within the framework of law, not against it. For example, you cannot write in your ToS that "leaving the website now would imply that you accept our terms".

@jberryhill would appreciate your take on this.

 

[Name Trader]

First of all, as it stands now, Godaddy TOS does not specify that offer stands even with counteroffer. So, basically, any person would understand that common law/common sense would apply that counter-offer cancels offer, even for a smallest of a change.

Second, even if GD changes TOS now to specifically say that a) that cannot be applied back to the past cases; b) even then I would not be sure it would stand in court. Your ToS is supposed to be within the framework of law, not against it. For example, you cannot write in your ToS that "leaving the website now would imply that you accept our terms".

@jberryhill would appreciate your take on this.

I'm not a lawyer. And I haven't studied their ToS closely about this subject. But I would recommend GoDaddy get their ToS in line with what they are actually doing. I think GoDaddy recognize that this needs some fixing and @Joe Styler has said they are going to fix whatever they see is wrong. But to your point that their ToS is against the law. I, for one, don't agree. I don't think every offer/counter offer has to follow generally accepted principal. I think it's probably quite legal to state that the initial offer will be valid for 7 days, which can be accepted by the seller at any time, even after they have countered offered.

How often, in a face-to-face negotiation, does a buyer offer $1000 and the seller says how about $1500, but before the end of the conversation he/she says "well go in then, I'll take your offer of $1000" and the deal gets settled immediately. You cannot insist that the seller cannot go back to the initial offer, because of the initial offer was cancelled by their counter offer. That doesn't make any sense either. Which is why it should be clearly stated in GoDaddy's ToS and any other documents regarding the bid/offer process, exactly what the terms are. There should be no ambiguity. GoDaddy may or maybe not legally liable for past transactions. Each case would need to be decided in the courts.

 

[Galaxy Traveller]

"How often, in a face-to-face negotiation, does a buyer offer $1000 and the seller says how about $1500, but before the end of the conversation he/she says "well go in then, I'll take your offer of $1000" and the deal gets settled immediately. You cannot insist that the seller cannot go back to the initial offer, because of the initial offer was cancelled by their counter offer. That doesn't make any sense either."

Agree

 

[MR Harrist]

if he accept your offer! I will laugh real hard!
oooopss...
moral lesson is, never tell people about what you do

 

[Name Trader]

if he accept your offer! I will laugh real hard!
oooopss... moral lesson is, never tell people about what you do

I wasn't particularly referring to domain names

 

[MR Harrist]

yeah, I know, I am just saying to maple, before the deal off, he shouldn't open this kind of thread! because if the seller realize, he make mistake and accept maple, offer, I pretty sure it could hurt so bad!

Because I have feeling that the seller are arround us! at namepro!

 

[AndyM]

You bring up a good point though Brad

I found this in their forums....

Show attachment 83685

Just scanning through so not read all posts so if I'm repeating someone else I apologise.

I had a situation like this last year where someone put in an offer, I countered, didn't here back from the buyer so I accepted the original offer.... needless to say, I still own the domain. The buyer did not follow through on his original offer and Godaddy done nothing about it. So I'm thinking once I countered, it cancelled his original offer.

 

[Galaxy Traveller]

I thank Maple for start this thread. It cleared terms further and I hope seller will reject.

 

[MapleDots]

"How often, in a face-to-face negotiation, does a buyer offer $1000 and the seller says how about $1500, but before the end of the conversation he/she says "well go in then, I'll take your offer of $1000" and the deal gets settled immediately. You cannot insist that the seller cannot go back to the initial offer, because of the initial offer was cancelled by their counter offer. That doesn't make any sense either."

Yes but look at it like this...

You meet face to face and offer $1000 he says no he wants $3000. You go home and 5 days later the guy says you owe him $1000 because he changed his mind.

 

[dr manos]

Just scanning through so not read all posts so if I'm repeating someone else I apologise.

I had a situation like this last year where someone put in an offer, I countered, didn't here back from the buyer so I accepted the original offer.... needless to say, I still own the domain. The buyer did not follow through on his original offer and Godaddy done nothing about it. So I'm thinking once I countered, it cancelled his original offer.

Godaddy if buyer will not pay is terminating his auctions account.
Not sure if buyer can pay the $4 and have auctions membership again, representative of godaddy here can reply.
As i wrote i have accepted many times the original offer after raised, some paid, some (more) not

 

[equity78]

Just scanning through so not read all posts so if I'm repeating someone else I apologise.

I had a situation like this last year where someone put in an offer, I countered, didn't here back from the buyer so I accepted the original offer.... needless to say, I still own the domain. The buyer did not follow through on his original offer and Godaddy done nothing about it. So I'm thinking once I countered, it cancelled his original offer.

I would think that would be common, @JoeStyler mentioned they don't have many back out or not pay.

 

[Name Trader]

Godaddy if buyer will not pay is terminating his auctions account. Not sure if buyer can pay the $4 and have auctions membership again, representative of godaddy here can reply. As i wrote i have accepted many times the original offer after raised, some paid, some (more) not

What is the penalty for all these non-payers @Joe Styler.

 

[Name Trader]

Yes but look at it like this...

You meet face to face and offer $1000 he says no he wants $3000. You go home and 5 days later the guy says you owe him $1000 because he changed his mind.

I think that's fine provided it's clearly spelt out in the ToS and any other documents related to the offer/sale process, and both parties agree with the terms of the ToS. The problem here is only 1 of the parties knew what they were getting into I think @Joe Styler has said, and I've repeated, that GoDaddy recognize it could be made more crystal clear, and are working to fix the problem. Some people here have even argued that what GoDaddy are currently doing is sufficient. But I've already said my piece about that. It should be the most crystal clear as possible, so that both parties are aware of what they are getting into.

 

[Duncan729]

You sure it was due to a 'Sugar low' or more like a 'Beer-high' I still cant understand people in our game getting spelling wrong. sure if it's UK or USA variant but that's about it

Correction:USA variant also comes under wrong spelling category

 

[MapleDots]

Correction:USA variant also comes under wrong spelling category

Whenever possible I buy the usa variants in .com and the British/Canadian variants in .ca

Ex.

Theater only in .com
Theatre only in ca

Center only in .com
Centre only in .ca

English is a complex language and even though I have never registered an actual spelling error (that's a lie, I actually did once) when registering a domain the spelling variants have slipped through a few times.

 

[Bean]

Interesting, personally I wouldn't have thought twice about this.
By countering, the seller is essentially saying, thanks but no thanks your offer is too low, so the original offer should no longer be binding.
I think that when the potential buyer receives a counteroffer he should also get an option to terminate negotiations along with it because otherwise the whole thing can turn into a farce. You simply can't assume that the buyer has the time, desire or money for that matter to haggle, you can counter of course but it should be at your own risk, that means you counter only when you're ready to forfeit the original offer.

 

[BarryDavis]

I know that buying domains is a buyer beware business. But I have a conscience. I don't like to take advantage of people. It doesn't matter to me if the person is my worst enemy I don't take cheap shots. If I were selling a name that is misspelled I would want to disclose the error. If that isn't possible I would cooperate with the buyer in reversing the sale as long as he paid for any commissions or costs incurred.

I like to conduct legitimate business. I have names that I want a large premium for. If I find a buyer I would inform him that the price I am selling the domain for is far above any appraised value.

Would I buy a misspelled domain? It depends. I would rather own EZ.com instead of easy.com. 3 years ago I almost bought excercise.net which is misspelled. But it is a common misspelling and it gets a lot of hits. I like the name mispelled.com which is spelled wrong. It makes a lot of sense for a website.