Interview with Flippa CEO

[equity78]

Dave Slutzkin the CEO answered questions on how much business they do at Flippa.

How they protect against fraud and have some things in place Sedo and Go Daddy could use.

Employees are allowed to bid on auctions as long as they tell the seller.

Quick Chat with David Slutzkin, CEO - Flippa

 

[HeyNow]

Employees are allowed to bid on auctions as long as they tell the seller.

They should also tell the other bidders that an employee of the auctioneer is bidding against them. But of course most bidders would run for the hills if they knew an employee of the auctioneer was bidding against them. Telling the seller only means that the auctioneer AND seller are complicit in unethical auction practices, IMHO.

 

[FPForum]

I kind of agree that maybe they shouldn't let employees be eligible for bidding..But still, a pretty nice little interview there.

Thanks for sharing.

 

[PNW]

"“We do allow our staff to bid on auctions as long as the bidders are clear about this with sellers, however we’re usually so busy working with Flippa, that our staff of 12 doesn’t have the time to be buying more sites."

, that's reassuring!

 

[GiftedDomains]

I know that employees at BIG domain auction sites bid on domains/trade with domains, etc. even though they aren't allowed to do that on some sites. Of course its done with other peoples names and other tricks.

So its better to be straightforward and do it like Flippa.
You can't control that and some people working in such companies can't overcome the temptation to make extra bucks.

Of course if its allowed from management, then they shouldn't be able to see max. bids of others to have advantages.

 

[HeyNow]

I know that employees at BIG domain auction sites bid on domains/trade with domains, etc. even though they aren't allowed to do that on some sites. Of course its done with other peoples names and other tricks.

So its better to be straightforward and do it like Flippa.
You can't control that and some people working in such companies can't overcome the temptation to make extra bucks.

Of course if its allowed from management, then they shouldn't be able to see max. bids of others to have advantages.

The problem is, as far as I understand Flippa's policy, the insider (company employee who is bidding) and the seller know about it, but other bidders don't know. The seller would probably benefit by inside employee bidders driving up prices.

Personally, I won't be bidding at Flippa, because Flippa employees and sellers might be in agreement that it's okay to bid against me without me knowing that an auctioneer's employee is the one bidding against me, driving up prices.

At least Flippa is honest about keeping outside bidders stupid.