NameSilo

Is NameJet still being gamed by the same cast...

Located in Domain Marketplace Reviews started by wwwweb, Sep 15, 2019.

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  1. wwwweb

    wwwweb Top Member VIP ★★★★★★★★★★

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    so fpay.com is up on NameJet for the 3rd time in 6 Months.

    Everyone was bidding in, and around the $2-3k range, then “seek” bid $15k, most likely one bid under the undisclosed reserve.

    Obviously this has been debated to death, but amazing this is still happening in auction environments going into 2020, given how far we have come in regards to scandals all the way. NameJet continues to allow some of the same characters to play the same games over, and over.

    Management is AWOL to date, phone support is now a thing of the past, without domainer inventory they really don’t have much else going on, other than shady activity that continues to go unaddressed.
     
    Last edited: Sep 15, 2019
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  2. biggie

    biggie Top Member VIP ★★★★★★★★★★

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    well, I guess now we all know the reserve is higher than $15k, without having to bid that high to find out.

    if the reserve is higher than one is willing to bid, then to me, something like that doesn't matter

    and...as you say, it's been up for sale twice before and didn't sell.

    imo….
     
  3. offthehandle

    offthehandle . Gold Account VIP

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    Thanks for posting that. So... how far have we come?????

    I will re quote you:

    https://www.namepros.com/threads/bidding-on-your-own-names-at-namejet.1030874/page-61#post-6429909


    The wheels on the bus.... same user name? Or another? Why don't they just change them every 6 months? lol.

    https://www.namepros.com/threads/bidding-on-your-own-names-at-namejet.1030874/page-61#post-6440791

    "Previously, <REDACTED>l had estimated that seek had manually bid on 148 of his own auctions using five featured auction account's believed to be <REDACTED>. Now, with the emergence of a sixth featured auction account believed to be <REDACTED>, that figure will likely increase."

    https://www.namepros.com/threads/bidding-on-your-own-names-at-namejet.1030874/page-61#post-6450773

    [​IMG]
     
  4. andyboothsi

    andyboothsi Member ICA Member VIP

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    seek won the auction and it will be sold - reserve was hit.
     
    Last edited: Sep 15, 2019
  5. wwwweb

    wwwweb Top Member VIP ★★★★★★★★★★

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    Weren’t you boys mixed up in this last time when Chad Wright “webquest” outed the situation on a huge thread here at namepros.


    https://www.namepros.com/threads/bidding-on-your-own-names-at-namejet.1030874/


    The name is magical, it triples every 3 months at NameJet via domainer to domainer.

    Price Date Venue
    fpay.com 15,500 USD 2019-06-21 NameJet
    fpay.com 6,101 USD 2019-03-16 NameJet
     
    Last edited: Sep 15, 2019
  6. offthehandle

    offthehandle . Gold Account VIP

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  7. Grilled

    Grilled khjasdhkfdhdskfhhukdfshkj VIP

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    According to goldnames, bidder FIRST was the March '19 winner for $6,101.

    http://archive.li/J4YWY

    Was FIRST also the seller when it sold for $15,500 in June '19?
     
  8. wwwweb

    wwwweb Top Member VIP ★★★★★★★★★★

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    No idea, it seemed strange for an active NameJet bidder to jump a bid a few hundred %, rather than use resources to reach out after auction end.

    The recent seller needs $18,600, just to break even after commissions based on last sale.

    Not sure why same people are always placing bait bids just under reserve.
     
  9. urlurl

    urlurl Top Member VIP

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    and that's why I don't participate in those auctions - especially there
     
  10. Bob Hawkes

    Bob Hawkes formerly MetBob NameTalent Gold Account VIP Trusted Blogger

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    So the fpay sale shows on today's NameBio at $19,048. There are four previous sales of this domain name, two at Sedo and the last two at NameJet noted above. https://namebio.com/fpay.com.

    5 of the 9 NameBio listed LLLL .com sales ending in pay have been in this domain name https://namebio.com/?s==MTO0gDNyMjM . Tpay and Npay both sold for larger amounts.
     
    Last edited: Sep 16, 2019
  11. wwwweb

    wwwweb Top Member VIP ★★★★★★★★★★

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    Yes, it was “seek” bidding against the reserve, and no other bidder, none of the other bidders wanted to go over $3.5k, or $15k etc...


    seek $19,0489/15/2019 12:59 PMbeenthere$3,3009/14/2019 6:04 PMecogreen$3,0889/14/2019 11:36 AMfalko789$2,9889/14/2019 11:19 AMimadoer$2,8889/13/2019 11:20 AMtaryn$2,7009/13/2019 8:24 AMtobias$2,6009/13/2019 1:16


    Congrats to the seller, based on the last buy they would have made a whopping $500 return on their approx $16k investment
     
    Last edited: Sep 16, 2019
  12. Grilled

    Grilled khjasdhkfdhdskfhhukdfshkj VIP

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    Archived bid log: http://archive.li/9ABRS

    seek $19,048 9/15/2019 12:59 PM
    seek $15,000 9/15/2019 6:27 AM
    beenthere $3,300 9/14/2019 6:04 PM

    Based off your $18,600 figure, the return would have been $448. Is that a lucky Chinese number?

    I wonder if the buyer [seek] factored the aforementioned break even figure of $18,600, prior to placing their $19,048 bid 6.5 hours after placing the first above reserve bid of $15,000 bid in this $10,000 - $25,000 reserve auction.

    If the buyer did account for the break even number based off last auction, I wonder why neither bid wasn't closer to $18,600?

    If the reserve was known by the winning bidder, would it be more suspicious if the buyer paid the exact reserve price? Or less suspicious to pay a little bit above?

    Of course, not knowing the exact reserve price, this is all speculation.

    But say the reserve price was priced at or around a $448 profit, how did the buyer land on the $19,048 figure?

    (a) really wanted the domain after realizing the $15k bid didn't break reserve and placed a random high number above 19k.

    (b) had advanced knowledge of the reserve price [is this breaking any rules?]

    (c) it doesn't matter what the rock...?
     
    Last edited: Sep 16, 2019
  13. Grilled

    Grilled khjasdhkfdhdskfhhukdfshkj VIP

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    Does anybody have the bid log or know who won fPay in June '19 for $15,550?

    Auction ID is believed to be: 4182371
     
  14. EJS

    EJS DomainInvesting.com DomainInvesting.com PRO ICA Member VIP ★★★★★★★★★★

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    With a reserve auction, I believe when you bid at or above the reserve price, your bid is where the reserve price is.

    By way of example:

    Let's say reserve is $19,048, but is shown as a range of $10,000 - $25,000.

    Bidder 1 places a $10,000 bid, which makes the high bid $10,000 (reserve not met).

    Bidder 1 then places a $15,000 bid, which makes the high bid $15,000 (reserve not met).

    Bidder 1 then places a $25,000 bid, hitting the reserve at $19,048, which then becomes the high bid.

    Bidder 2 then bids $22,000, and the auction jumps to $22,100 (or whatever the next bid increment is) with Bidder 1 retaining the high bid due to the $25k proxy bid.
     
    Last edited: Sep 16, 2019
  15. Grilled

    Grilled khjasdhkfdhdskfhhukdfshkj VIP

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    That seems to be an obvious but overlooked [by me] likely and logical explanation.

    Which, since there was only one bidder above reserve, then $19,048 was the exact reserve price set by the seller; not necessarily the exact amount of the winning bidders high bid.

    Regardless, unless I'm missing something, is it safe to assume nothing nefarious occured in the auction(s) of fPay?
     
    Last edited: Sep 16, 2019

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