NameLot

How not to bid on DropCatch (lumeo.com)

Located in Drop Catchers and Expired Domain Services, started by James Rayers, Oct 22, 2017

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  1. James Rayers

    James Rayers CreativeNaming.com VIP ★★★★★★★★★★

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    Tough lesson for this business. Registering on DropCatch with your business name as your username will probably/definitely force the bidding higher.

    [​IMG]

    As a domainer you can see clearly what the business is willing to pay and chase the bid up, knowing that you're unlikely to lose much if you do end up with the top bid.

    Obviously a risky play as a domainer to chase it too far. Imagine if this username was just a troll trying to tease a domainer into wasting money...
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. Haykay2005

    Haykay2005 Top Contributor VIP

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    We learn everyday. Thanks for sharing
     
  3. domainwest

    domainwest Top Contributor VIP

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    i wouldn't bid on that name for $1k in my opinion but i guess it means alot to the enduser who paid 14k for it
     
  4. Kate

    Kate Domainosaurus Rex VIP ★★★★★★★★★★

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    This name is hugely brandable. But there are TMs on it too.
     
  5. Asfas1000

    Asfas1000 Top Contributor VIP

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    Interesting to know who is the runner up ?
     
  6. dnrabbit

    dnrabbit The Rabbit

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    @James Rayers : I got in touch with GoLumeo for inputs on this and can confirm they did not participate in the auction. However, they mentioned that they were contacted by a certain person before auction offering the domain for sale at $32,000.

    The auction has been won by a fake bidder who was hoping to get a price agreement in place with GoLumeo which didn't happen eventually. So, no one is going to pay for the auction.

    Lumeo.com would be re-auctioned soon.

    I have started another relevant thread on this here:
    https://www.namepros.com/threads/dropcatch-bidder-verification-hits-new-lows.1046464/
     
  7. dnrabbit

    dnrabbit The Rabbit

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    The reason for this person to use the alias "GoLumeo" seems to be that he was hoping it would drive the price down.

    He assumed that Domainers would probably not out-bid an end-user in the auction. But obviously, the strategy backfired.
     
  8. hookbox

    hookbox Top Contributor VIP

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    Nobody is that stupid. This is probably a shill bidder just playing games with the auction and used that user name to make it even more laughable. Everyone will get an email soon saying the auction was fraudulent and will restart a new auction for the name.
     
  9. dnrabbit

    dnrabbit The Rabbit

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    Yep, not worth bidding over $1k-$2k to a domainer. And as it turns out, not to the end user either. Fake auction. Fake bids.

    Exactly. It isn't wise to bid over $1k on any name that can invite an UDRP especially when you are reaching out to end users actively.

    I know who the runner up is, and he is thanking God that he didn't win this fake auction and stopped bidding. He was valuing the domain way too high.
     
  10. Asfas1000

    Asfas1000 Top Contributor VIP

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    Did you by any chance request the front runner's email ?
     
  11. dnrabbit

    dnrabbit The Rabbit

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    But to think of it, if this fake bidder had stopped bidding a little earlier and a genuine bidder won the auction at $12k or $13k... it would be such a sham!
     
  12. .NJ

    .NJ Top Contributor VIP

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    99.9% bullshit auction.
     
  13. dnrabbit

    dnrabbit The Rabbit

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    As a matter of fact, I did and I have the original email in my possession. It was sent on October 16th.
     
  14. dnrabbit

    dnrabbit The Rabbit

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  15. hookbox

    hookbox Top Contributor VIP

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    Unless he has more than one account to mess up the auctions on purpose. People have way to much time on their hands.
     
  16. Asfas1000

    Asfas1000 Top Contributor VIP

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    Pls PM it to me if you want.
     
  17. hookbox

    hookbox Top Contributor VIP

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    How high did your friend go on the name?
     
  18. DomainVP

    DomainVP Domain Expert VIP

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    Nice work!
     
  19. dnrabbit

    dnrabbit The Rabbit

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  20. dnrabbit

    dnrabbit The Rabbit

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    Unfortunately, he was the runner up. Went to $14k. And now he is thanking his stars!!
     
  21. hookbox

    hookbox Top Contributor VIP

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    I don't believe it. No domainer would ever pay 14k for this name no matter how stupid they are. No way!
     
  22. dnrabbit

    dnrabbit The Rabbit

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    The person in question loves brandable names and is probably the largest buyer of such names on NameJet. He simply loved the name Lumeo.
     
  23. James Rayers

    James Rayers CreativeNaming.com VIP ★★★★★★★★★★

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    Nice research @dnrabbit. Thanks. Always interesting to hear background on these auctions. I was in the auction but backed out very early haha. Could not believe it went up this high.
     
    Last edited: Oct 22, 2017
  24. urlurl

    urlurl Top Contributor VIP ★★★★★★★★★★

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    just another reason why i avoid them
     
  25. anantj

    anantj Top Contributor VIP

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