auctions Jinsha.com (mid six figures) on DropCatch

[Ms Domainer]

According to TNT Names, the bidding for Jinsha.com is in the mid-6 figures.

http://www.tntnames.com/blog/jinsha-com-bidding-up-to-423000-on-dropcatch.html

​

I can tell you what I know about the term Jinsha, because info came up last year about this term, and I did a little homework on it.

1. Jinsha is a famous archaeological site in China's Sichuan Province. The site is located in the Qingyang District of Chengdu Prefecture, along the Modi River (摸底河). It was named for a nearby street, itself named after the Jinsha River. This, in itself, is a big deal.

https://en.wikipedia.org/wiki/Jinsha_(archaeological_site)​

2. The Sands casino owns a TM on the term "Jinsha," so whoever wins the domain needs to take care on how the winner uses the domain. I would think that if the buyer does not use it for gambling purposes, he or she might be okay, given its GEO and generic meanings. But I suspect that the high bidding has little to do with the Geo aspect. Just saying. (BTW, "Jinsha" means “golden sands” in Chinese.)

http://www.gamblinginvest.com/golden-sands-jinsha-drops-domain-auction-dropcatch/

http://www.onlinecasinosvegas.com/news/20140629/adelson-goes-after-asian-domain-holders/
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If you're bidding, take care.



UPDATE: Here is the link to the auction (not mine), which probably won't be live for long. At this posting, the high bid was $460,160:

https://www.dropcatch.com/Domain/jinsha.com​

 

[Name Trader]

What we should be talking about is DropCatch. Andrew Reberry just made 700,060 in one day. He registered Jinsha.com for REG FEE and made someone pay $700,060 for it.

That is insane. Dropcatchers are making all the money. Jinsha.com was obtained for REG FEE. Remember that. That is insane.

I agree with this. Drop catching must be a very profitable business

 

[E-Promote]

>Jinsha.com was obtained for REG FEE
Obviously a great catch but you can't discount all the other expenses involved in catching a highly competitive name and call it a reg fee.

 

[sumosan]

I wonder if, perhaps, first1 is the "reserve" bidder?

first1 is legit.

 

[NetworkPearl]

Insha is my first name

 

[coconut]

Big surprise and puzzle was the name won by this profiles was not going on one person's name but was getting registered with different peoples name after they won them, do not know how this possible?

Nile Patel, the domainshane.com auction list post of March 11 throws some light on it where Shane says: "I am surprised how many people don’t know about the legendary “First” and “Two Two” bidding accounts they see at Namejet, Dropcatch and various auction houses. These two are actually bidding accounts for two Chinese websites. The websites are in Chinese and allows Chinese speaking bidders to bid on auctions in English and feel comfortable doing it in their native language and on one platform...etc"

 

[AEProgram]

whois updated congrats to dropcatch

 

[Wannabean]

Oh and you just know the tm holder is bidding so why would anyone bother with this.

 

[silentg]

Bidding went up to $700,000.

 

[richface]

a simple search on Chinese Mainland Trademarks displays possible TM issues. Definitely not a domain worth 700k. Again hope the buyer pays. Congrats to Dropcatch.com

 

[bludex]

Jin Sha as being the name of a Chinese singer and actress can also play a role: https://en.wikipedia.org/wiki/Kym_(singer)

 

[silentg]

The winning bidder was bidder named first1 > https://twitter.com/domain
Last time he/she won 55588.com for $91k and the whois still shows dropcatch as the owner.

 

[domainsoup]

What we should be talking about is DropCatch. Andrew Reberry just made 700,060 in one day. He registered Jinsha.com for REG FEE and made someone pay $700,060 for it.

That is insane. Dropcatchers are making all the money. Jinsha.com was obtained for REG FEE. Remember that. That is insane.

 

[D Haynes]

Sorry he/she.

 

[Blueforever]

Do dropcatch offer a service where we can sell names through them. Seeing prices like this, I'd like to sell names through them.

 

[wwwweb]

"First1" is HE ! not she... !! and his name start with "G" and they from Kansas.
And wining bid is $700,010

That is strange they failed to pay for the N auction, and are still active bidding away.

I mean if they didn't pay $90K, how they going to pay $700K.

This platform needs to be accountable to its bidders.

 

[wwwweb]

I don't see how that could work out in the real world. Let's say you have 0.5% of bidders that don't pay.

If you are a proxy bidder for hundreds of investors you will very soon run into a case where one your clients doesn't pay for whatever reason.You would have to shut-down the account after a month or two.

Then in theory you couldn't open another one.

Many Chinese people don't speak english how can they bid on foreign auctions if not via a proxy account?

How can Dropcatch do business with the Chinese market then?

You would have to ban an entire group of individuals because of a few bad apples.

Doesn't seem fair either.

Why are they buying English keywords if they don't speak english, clearly they know what they are doing when placing thousands of dollars in bids, oh wait hundreds of thousands of dollars.

first, and first 1 are more than .5% of the bids at such exchanges, they probably make up double digit bids just those 2 parties alone.

The rules have always been very strict, you don't pay, you are banned, that is it. The platforms operate in North America, they have to follow rules, and laws of such territories.

 

[Ms Domainer]

what does jinsha means?

Read my opening post.

 

[Name Trader]

Nile Patel, the domainshane.com auction list post of March 11 throws some light on it where Shane says: "I am surprised how many people don’t know about the legendary “First” and “Two Two” bidding accounts they see at Namejet, Dropcatch and various auction houses. These two are actually bidding accounts for two Chinese websites. The websites are in Chinese and allows Chinese speaking bidders to bid on auctions in English and feel comfortable doing it in their native language and on one platform...etc"

But rules should be rules. If you don't pay, you can't bid anymore. The whole system is flawed, IMHO.

 

[-EM-]

Aside of non paying winner, DropCatch got a lot of attention and advertisement which may worth much more

 

[coconut]

Do you have link of that article or that websites's name , i has to dig more on this whole process.

http://domainshane.com/dsad-com-domain-shanes-daily-list-domains-auction-friday-march-11th/

 

[wwwweb]

Seems to be alot of deadbeat bidders on this exchange lately, just time to take notice, as deadbeats cost everyone money.

SALUT.COM last sold for $12,100 on 2016-03-18 at DropCatch did not close

55588.com closing at $91,060 on DropCatch.com 2016-03-09 did not close

Jinsha.com was not paid for by it's deadline this morning either. I would assume it would take more than 4 days to move that kind of money though.

 

[wwwweb]

It has still not been paid, I guess they are not giving up hope.

 

[wwwweb]

Hey, guys
You are missing the point
The deal will be closed for sure.
金沙 means gold sands
It's the Chinese name of a bigboy casino, Sands
Two very fat branches in Macau and Singapore
Also lots of online casinoes run under this name.

@Ms Domainer
@RU
@Insha010
@bludex

You think LVS paid first1 over $700K for that name, they don't work like that.

 

[Ms Domainer]

The whois still shows DropCatch.com as the owner.

This suggests that the sale has not gone through, at least of today (April 10, 2016).