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/
​

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​

 

[kamhan143]

Sorry he/she.

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

 

[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.

 

[kamhan143]

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.

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.

check before post anything the winner first1 is user from DropCatch , not from twitter ! (btw first1 gone from your link !)
Whois : http://www.whois.com/whois/55588.com

 

[NameYourself]

金沙.com the IDN "jinsha" in chinese characters also sold for $45,000 several weeks ago.

 

[silentg]

check before post anything the winner first1 is user from DropCatch , not from twitter ! (btw first1 gone from your link !)
Whois : http://www.whois.com/whois/55588.com

I know firsf1 was a bidder from dropcatch. Commenter from thedomains mentioned first1 is the Twitter user. I should've mentioned that in my above post

 

[wwwweb]

That numeric domain was reauctioned off, and that must be the new winner via Whois.

Let's wait to see if it is paid, amazing sale if it does.

 

[Name Trader]

First1 is not an individual it is a proxy bidding account for Chinese domain investors.

If one of these investors didn't pay it doesn't mean that the others are not paying.

So are you saying the same rules don't apply to proxy bidding accounts for Chinese domain investors as it would do for people like you and me bidding on domains and not paying? I think the rules should be the same for everybody. If you don't pay when you win an auction, you cannot bid anymore.

 

[dordomai]

So are you saying the same rules don't apply to proxy bidding accounts for Chinese domain investors as it would do for people like you and me bidding on domains and not paying? I think the rules should be the same for everybody. If you don't pay when you win an auction, you cannot bid anymore.

I don't see why they should ban their biggest customer and many Chinese investors because of one single individual misbehaving. It's likely they were not responsible for the non-payment. Ban that individual from bidding via that account but don't penalize all investors using it.

 

[wwwweb]

I don't see why they should ban their biggest customer and many Chinese investors because of one single individual misbehaving. It's likely they were not responsible for the non-payment. Ban that individual from bidding via that account but don't penalize all investors using it.

First off no such platform should be allowed to bid like this. Secondly since they do allow it, that one account is accountable for the actions of all of them.

This is great system, bid whatever you want, if you can't flip the domain within your payment deadline, just walk away, called front running, wrong on so many fronts.

 

[dordomai]

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.

 

[RU]

what does jinsha means?

 

[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.

 

[Nile Patel]

What i have noticed is first1 and twotwo was two main bidders few month back and they are still active , plus i have seen only few more Chinese bidders who are highly active on all 4 drop catch platforms(namejet, dropcatch, pheenix and snapnames).
Look to me all of them are legit and non of them proxy since majority of number name and domain related to Chinese investments are won by this few profile ids. If all of this 4 platform or any other entity using their own fake profile then at the end someone has to pay big amount for all the winning names which seem to me quite impossible in reality as only this few profiles are winning majority of names compare to other bidders.
I have checked whois data of many names won by first 1 and two two profile in past (around nov 2015), because i was mad on them that time, i have lost many name in auctions and they won all of them well my big loss... 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? Since all auction won name has certain day's lock depends on all this 4 platforms and you can't allow to move the name right away, so it seem to me they control the name and just change the whois data?
Can any one do this research and figure out how they selling name right away after they won the auction?
It seem to me they just taking bid amount in advance and stopping at the level where their investors amount end(ex if investor A say bid $500 for xyz.com and if someone bid $505 they let it go) is that possible only Chinese fellow can answer how they doing locally at their end?
This is something new for us to research as fake bidding has nothing to do with this stuff as only few profiles are winning the names and i m sure they do not fake bid each other and bump up the prices to hurt their own investors.
I m sure this stuff is out of my research and complicated to understand and i m still active and bidding if i find good names at any of this platforms and not worried of fake bidding which seem to me is not that practical and profitable to do by any of this platform for small amount of profit compare to their time and reputation.
What you guys think?

 

[Name Trader]

I don't see why they should ban their biggest customer and many Chinese investors because of one single individual misbehaving. It's likely they were not responsible for the non-payment. Ban that individual from bidding via that account but don't penalize all investors using it.

I agree. But how do they do that, if they are all using the same ID?

 

[Name Trader]

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.

What seems not fair here, is that everybody else on the planet doesn't have the same privileges to renege on auctions won, without penalty.

 

[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"

 

[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.

 

[NetworkPearl]

lol I know what it means but its not worth over mid 4 figures.

 

[-EM-]

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

 

[Nile Patel]

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"

Thanks for clarification.
So they pay to that websites and they bite some commission and bid on domain and win the name and update whois.
Do you have link of that article or that websites's name , i has to dig more on this whole process.

 

[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/

 

[Nile Patel]

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

Any idea which two websites are that where they doing local auctions after they win name from this big platforms, since that article do not declare that websites names?

 

[saintbgbg]

I have also another extension
Jinsha

 

[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.