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Here we go again – The Curious case of 6666666.com

Labeled as domains in Domain Industry News started by equity78, Oct 1, 2019.

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788

  1. equity78

    equity78 Top Member TLDInvestors.com TheDomains Staff PRO Gold Account VIP ★★★★★★★★★★

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    So this time last year I was talking about the big closing price on 6666666.com (7 sixes) for $99,999 on GoDaddy expiring auctions. Later that same day, Joe Styler posted that they walked back some of the bids, after backing out 35 bids and removing 3 bidders, the auction closed at $71,000 as a new bidder came in at the end and bid $71,000. So I kept asking on Namepros if this sale got paid … [Read more...]
     
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  2. ksusha64

    ksusha64 Top Member VIP

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    I wish I had a way to short domains like they do in stock market. Thanks for the article!
     
  3. offthehandle

    offthehandle . Gold Account VIP

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    Perhaps they might get serious about fixing this and other problems by contracting with real Auctioneers as consultants to audit and fix internal problems. A simple fix here would require funds up front before bidding. Wire funds and then a line of credit to use to bid. Any questionable overseas accounts especially those whose jurisdiction has transfer restrictions should be prefunded PRIOR to being able to bid such large amounts.

    I don’t believe Sothebys allow anything but their own App, no automated bots to bid either.

    https://www.sothebys.com/en/buy-sell?locale=en#how-to-bid-online

    “Sotheby’s is committed to conducting its auctions in an honest, fair, ethical
    and transparent manner. It is Sotheby’s policy to conduct its auctions with the same high standards and in the same professional manner worldwide. All Sotheby’s auctions and private sales are governed by a specific set of rules based both on regional/global law and internal policies covering issues including: the responsibility of auctioneers, bid clerks and client representatives, confidentiality, bidding, reserves, identification and other information relevant to the conduct of an auction. Sotheby’s auctioneers must have the necessary licensing from local jurisdictions, must understand and comply with local auctioneering laws and regulations and must understand and comply with Sotheby’s worldwide policy on live auctions.”

    https://www.sothebys.com/content/dam/sothebys/PDFs/code-of-conduct-2019.pdf?locale=en
     
  4. equity78

    equity78 Top Member TLDInvestors.com TheDomains Staff PRO Gold Account VIP ★★★★★★★★★★

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    The auction closed at $23,756
     
  5. Bob Hawkes

    Bob Hawkes formerly MetBob NameTalent Gold Account VIP Trusted Blogger

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    Wow I had forgotten that history. Thanks for all the details. It is disconcerting how many bids had to be ruled out the previous time it was in auction.

    Does anyone know if six 6's has sold in .com? (It is not in NameBio, well except in .de) I presume that would be much more valuable.

    Thanks again,

    Bob
     
  6. Argentum

    Argentum Established Member

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    NNN domain names is too overprices and demand only by Chinese.
    Even $23,756 is too much for this one.
     
  7. equity78

    equity78 Top Member TLDInvestors.com TheDomains Staff PRO Gold Account VIP ★★★★★★★★★★

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    The other point I was making Bob was why was Dispute.com handled in one way and 6666666.com not? GoDaddy refuses to explain.
     
  8. Abdullah Abdullah

    Abdullah Abdullah Top Member Epik.com Staff VIP

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    H
    Who was auctioning Dispute.com ? Cause in your article you have a quote from Joe that said we are the ones selling this numeric domain.

    I guess that should answer your question:)
     
  9. equity78

    equity78 Top Member TLDInvestors.com TheDomains Staff PRO Gold Account VIP ★★★★★★★★★★

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    No Dispute.com was an expired auction that closed at $65,000 but then Joe Styler told Elliot at DomainInvesting.com it got rolled back to $38,000 because the high bidder could not pay for the name in the three days needed, it's all detailed in the article on TheDomains.com. So when 6666666.com closed at $99,999 then rolled back to $71,000 myself and others kept looking to see when the name would be paid for, the point being that Dispute.com needed to be paid in 3 days per what Joe Styler said, so what happened with 6666666.com? They did not roll back until they found someone who could pay, it was held for a whole year and they let it expire again.
     
  10. Bob Hawkes

    Bob Hawkes formerly MetBob NameTalent Gold Account VIP Trusted Blogger

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    Ahhhh now I understand the point! Thank you for this detailed and clear explanation. Is not the 3 days awfully short for someone paying 5 figures, which I think has been argued in past by some bloggers taking into account global money transfers.
    Bob
     
  11. equity78

    equity78 Top Member TLDInvestors.com TheDomains Staff PRO Gold Account VIP ★★★★★★★★★★

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    It is Bob and when the Dispute.com rollback happened a lot of people thought that, but Joe made it clear that's the rule. I think Page Howe left a comment saying well you only need to pay $8 to renew it and hold it but they didn't they took $27,000 less. So why did they not follow the same with 6666666.com keep going until they found someone who could pay within the time frame that Dispute.com and supposedly all auction winners have to?

    page howe says

    August 13, 2018 at 5:36 pm

    im not sure this makes sense, an expired name has already been charged the annual renewal and is live for another full year,

    and in big time cases im sure no one minds letting the refund of $8 go.

    seems like an extension could be handled to make the extra cash.

    most of us out think you simply cant walk away from a bid, and opening up the , well i cant get my money in time loophole seems problematice.
     
    Last edited: Oct 9, 2019
  12. Abdullah Abdullah

    Abdullah Abdullah Top Member Epik.com Staff VIP

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    Exactly. That is what I meant that should answer your question. When the domain is owned by them then it is clear the rule is different :)
     
  13. equity78

    equity78 Top Member TLDInvestors.com TheDomains Staff PRO Gold Account VIP ★★★★★★★★★★

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    But it wasn't owned by them, it expired and Dispute.com expired just like domain names expire everyday, they didn't originally own it, someone owned let it expire. I know you said you saw Joe Styler say we are selling he said that because people accused GoDaddy of manipulation, Joe was rightfully pointing out they would not try to be getting less in the original expired auction. It closed at $99,999 rolled back to $71,000. Then the question is? If the $71,000 could not be paid in 3 days like Dispute.com winner at $65,000 could not, why not keep going til you find a buyer, GoDaddy wanted to make money here, they have no interest warehousing 6666666.com.
     

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