NameSilo

Interesting thing just happened on NameSilo auctions

Labeled as discuss in Domain Expiration and Domain Drop Catching, started by AEProgram, May 8, 2020

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  1. AEProgram

    AEProgram Top Contributor VIP Blue Account

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    A name zurx / com was dropping (was an expired auction) with one minute left, the owner renewed it.

    I have seen interesting things in the world on domain auctions, this one was a new one.
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. BuyBrandWeb.com

    BuyBrandWeb.com Praveen Chidaboyina PRO VIP Gold Account

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    Nothing interesting.
    @namesilo runs worst auctions ever. The owners are watching the auctions closely and they renew it once the auction ended. Its a free real time market reselling appraisal value to them and wasting bidders valuable time.

    They have billed for codeable .org but they didn't push the domain name to me and allowed to renew.
     
  3. AEProgram

    AEProgram Top Contributor VIP Blue Account

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    hey, why should namesilo care, they force everyone to load funds into their account.

    On one hand I find them to be a very easy registrar, great features, ease of use etc. On the auctions they want to be fair so they set max limits, but this pre loading funds thing to bid, something none of the major auctioneers require, just to find out the name gets renewed at the last minute, makes no sense.

    They could at least make sure that the person has active names with them before letting them bid etc if their goal is stopping the dead beat bidders. The preloading of funds is not fair at all.
     
  4. karmaco

    karmaco Top Contributor VIP

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    80% of names that are any good get renewed in the last hour of the auction. I agree the prefunding is ridiculous especially when it almost always gets renewed and you have payment methods on file. Nothing has been the same since they sold and most changes are for the worst. Trying to still like them but there are less and less reasons to do so nowadays.
     
  5. alcy

    alcy Top Contributor VIP

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    there is nothing spectacular about namesilo.
    its just a top10 registrar. noithing less or more...
    but hey, could be worse.. they could be part of top30 or something :)

    as for auctions getting renewed after ended or just before it happens i dunno 1000 times a day? across various sites. part of domaining.
     
  6. golan

    golan GolanMedia.com VIP Gold Account

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    You are probably a rare user of NS auctions. Nothing unusual here, happens all the time. Even in the last seconds of the auctions.
     
  7. namesilo

    namesilo Top Member NameSilo Staff VIP Gold Account

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    Sorry to hear about your poor experiences with our expired auctions. Always open to and thankful for constructive feedback.

    To address the last minute renewal issue above - we are planning to introduce proxy bidding into our expired auctions in the near future. Through this, we will be able to resolve auction bids quickly at the end of the auction, reducing the window for current registrants to renew their domains last minute.

    With regards to the pre-funding requirement for expired auctions, that's a little trickier unfortunately. The last thing we want to do is make it more difficult for you guys to use our platform, but we also have to take into potential abuses of the system. Without the pre-funding requirement, we used to encounter major delays in awarding the domain post auction because users would either post fake bids or attach invalid payment methods. These delays were leading to cases where we have to go through numerous bidders to find a legitimate one or running out of time to renew the domain before the grace period expired.
     
  8. wurdd

    wurdd Restricted (15-30%)

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  9. seank

    seank Established Member ★★★★★★★★★★

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    the owners can still renew it if there are bids?
     
  10. AEProgram

    AEProgram Top Contributor VIP Blue Account

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    thats pretty standard in expired auctions (it hasn't dropped), happens on godaddy too, the owner has a right. Only issue here is when you must pre load an account with value of bidding even though you might not win or owner renews.
     
  11. Rich

    Rich Top Contributor VIP ★★★★★★★★★★

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    I would bid a lot more at namesilo if the account didn't need to be preloaded. I'm sure that's their way of thinking, let this clown preload his account so he starts transferring names here when the domain is renewed or transferred out.
     
  12. golan

    golan GolanMedia.com VIP Gold Account

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    I think you are messing something. You can easily get your card verified so you don't need to preload anything.
     
  13. JoeCanadian

    JoeCanadian Established Member ★★★★★★★★★★

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    I was in auction last night as well. Name renewed at last minute. Why did I waste my time?

    Three problems with NameSilo auctions. Lack of proxy bidding. The fact that domain owner can renew at the last minute. The prefunding requirement.

    GoDaddy has solved all three of these issues - I don't see why NameSilo can't do the same.
     
  14. seank

    seank Established Member ★★★★★★★★★★

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    thats mad in NameSilo that owner can see interest and renew last minute.
     
  15. Rich

    Rich Top Contributor VIP ★★★★★★★★★★

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    Tried bidding just now with verified card and got this
    "Sorry, but you do not have an adequate account funds balance plus credit limit to place this bid. You must have enough combined account fund balance and credit limit to cover your bid, the renewal price of this domain, and to pay for any active auctions (including renewals) for which you currently have the highest bid."
    I asked the chat support the other day and they didn't know anything about credit limits...been meaning to send an e-mail asking how to get pre-approved
     
  16. karmaco

    karmaco Top Contributor VIP

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    Same thing For me. It doesn’t matter how many cards you verify. Its if they extend you credit or not. Its like they want to have their cake and eat it too. Pre fund but oops owner can renew.

    Their would be more action there on the auctions if it wasn’t for archaic rules.
     
  17. BuyBrandWeb.com

    BuyBrandWeb.com Praveen Chidaboyina PRO VIP Gold Account

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    I've been reporting this to @namesilo for years but they never listen to me.

    • The owner can renew once the auction ended - They were many people who were watching the auctions silently and renew it once the auction ended
    • I bid more than $700 USD on MedicalSavings/com but didn't win and my funds stuck for a long time
    • No proxy bid so you need to bid maximum or wait for someone to outbid then bid again
    • Spamming- Bombered with mails. You should notify the outbidder but not everyone
     
    Last edited: May 18, 2020
  18. M0rd0r

    M0rd0r Established Member

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    A new case on GourmetBean/com. 2 minutes left the owner renewed the domain. >:(

    I have received an email with the following message:
    "The domain has been renewed by the Registrant so the auction has ended."

    Response of Namesilo to my question on livechat:
    "haven't check the particular time but owner indeed has right to renew the domain as long as domain auction is not finish yet"
     
    Last edited: Jun 1, 2020
  19. wwwweb

    wwwweb Top Contributor VIP ★★★★★★★★★★

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    Seems like prefunding is a cheap way to get free working capital that is not constantly being turned over, good for you, bad for your customers. Seems you like to extend credit to some customers so they don’t have to keep a balance, would be good if you treated all customers with at least 100 domains in their accounts the same.
     
    Last edited: Jun 1, 2020
  20. namesilo

    namesilo Top Member NameSilo Staff VIP Gold Account

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    Thank you for your feedback. We are looking into a better system for this going forward. As a workaround in the meantime, you can re-use any account funds from lost auctions on new auctions or any purchases across our site. Otherwise, you can request for our team to send back your account funds by sending us a request at [email protected].
     

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