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

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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​

 

[Nile Patel]

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.

Do you work at dropcatch, how do you know it is not paid ?

 

[wwwweb]

Do you work at dropcatch, how do you know it is not paid ?

Because if you have half a brain you can figure it out.

 

[Nile Patel]

Because if you have half a brain you can figure it out.

Ok I m brain less dude just explain it how to check it is paid or not paid by bidder.

 

[Name Trader]

Check the whois. If it's changed, then it's been paid.

 

[wwwweb]

Check the whois. If it's changed, then it's been paid.

Lottery ticket for dropcatch if it get's paid, funny thing is the 2nd highest bidder was right there in that $700K range also. As of right now it has not been paid. These deadbeats are still active on the platform.

 

[Nile Patel]

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.

55588.com has changed whois check the data only salut still with dropcatch but that is not big amount let see who will be new lucky owner for jinsha.com next week.

 

[wwwweb]

55588.com has changed whois check the data only salut still with dropcatch but that is not big amount let see who will be new lucky owner for jinsha.com next week.

55888 was reauctioned, salut is being reauctioned, jinsha domain has been dormant since March 22nd, so no payment, they have exceeded their payment deadline.

Lucky owners, they did not get a bargain $700K is real money? Had it not been for bidder 2, it would have gone for a fraction of that. Unless they are attempting to register a high sale price, then reauction, and buy it lower, and then use that high price as a comp.

 

[Nile Patel]

55888 was reauctioned, salut is being reauctioned, jinsan domain has been dormant since March 22nd, so no payment, they have exceeded their payment deadline.

That is the whole point here when they are re auctioning names they never telling the buyer back out due to less fund and we block the account ,they only write due to some unusual bidding activity we have to re auction names, have you seen this kind of email from dropcatch, i have seen few times not sure that was for 55588 or other similar names.

 

[wwwweb]

That is the whole point here when they are re auctioning names they never telling the buyer back out due to less fund and we block the account ,they only write due to some unusual bidding activity we have to re auction names, have you seen this kind of email from dropcatch, i have seen few times not sure that was for 55588 or other similar names.

Yes, but high bidder FIRST1, is still bidding away, he has not been suspended, so the platform is not secure in terms of bidding integrity. Yes, many auctions I have received such email, it has been going on for a while, I have seen domains sell for 5 figures, to come back, and reauction for 4 figures.

Now these guys are playing with 6, and almost 7 figures in backorder auctions that is big league stuff.

 

[Name Trader]

@wwweb - Sounds like a risky strategy. But not if there is no penalty to them for not paying for their winning bid

 

[wwwweb]

@wwweb - Sounds like a risky strategy. But not if there is no penalty to them for not paying for their winning bid

Exactly why would dropcatch suspend them, if I had people bidding close to 1 Million dollars on dropcatch auctions on my platform, I would want them bidding every second of the day, which is what they do. First1 is very active, I don't know if they are related to First, but whatever the case, they are bidding with immunity.

 

[Nile Patel]

I think we all has to first figure it out how they really doing whole auction process in china? Can someone open new thread and lets all other experts answer how they distributing domain won by first1 and twotwo profile ids or few more very active profiles.

 

[wwwweb]

I think we all has to first figure it out how they really doing whole auction process in china? Can someone open new thread and lets all other experts answer how they distributing domain won by first1 and twotwo profile ids or few more very active profiles.

The auction handle is a business, it is a platform within a platform. Just like if you didn't have a trading account, and wanted to buy 100 shares of a stock, I would let you use my account, create an internal account for you, and sort of trade in a sub account. This is wrong on so many accounts, the SEC would shut it down in seconds, but we are still playing in the wild wild west here.

 

[Nile Patel]

Ok I agree it is platform can you send me link to that platform can we allow to open an account with them or not?

 

[Name Trader]

I think it behooves Andrew Reberry to come into this thread and explain DropCatch.com policy on winning bidders who don't pay.

 

[Nile Patel]

The auction handle is a business, it is a platform within a platform. Just like if you didn't have a trading account, and wanted to buy 100 shares of a stock, I would let you use my account, create an internal account for you, and sort of trade in a sub account. This is wrong on so many accounts, the SEC would shut it down in seconds, but we are still playing in the wild wild west here.

Can you please able to share the platform name or link so i can signup there i m sure it would be open platform for everyone in china, what do u think.

 

[iAchilles]

Exactly why would dropcatch suspend them, if I had people bidding close to 1 Million dollars on dropcatch auctions on my platform, I would want them bidding every second of the day, which is what they do. First1 is very active, I don't know if they are related to First, but whatever the case, they are bidding with immunity.

I wonder if the third party bidding service allows bidders to back out for a small fee, as is the case with many Chinese auctions?

 

[Nile Patel]

I think it behooves Andrew Reberry to come into this thread and explain DropCatch.com policy on winning bidders who don't pay.

Who care they pay or not we just has to figure it out we are not paying way over then market prices by bidding opposite to this this kind of software account or some sort of big account.

 

[wwwweb]

Can you please able to share the platform name or link so i can signup there i m sure it would be open platform for everyone in china, what do u think.

You will have to ask a Chinese domainer on here, who has a good understanding of English to assist you, I have my own account, so I have no need to trade on there. It is more of a service for parties who probably have trouble with English, and want to bid on more liquid, or cc domains.

 

[Name Trader]

Who care they pay or not we just has to figure it out we are not paying way over then market prices by bidding opposite to this this kind of software account or some sort of big account.

I care if a winner doesn't pay and is not penalized. Because that is not what would happen to my account if I refused to pay. If different standards are applied to different accounts. The whole system is corrupt. IMHO.

 

[Nile Patel]

You will have to ask a Chinese domainer on here, who has a good understanding of English to assist you, I have my own account, so I have no need to trade on there. It is more of a service for parties who probably have trouble with English, and want to bid on more liquid, or cc domains.

I have my own account every where too, I m just trying to dig more into the whole process to make sure we all are not losing money by bidding opposite to any kind of software bot bidding or fake account bidding.
You are telling there is platform for this kind of bidding and so that article also pointed out same kind of stuff but why no one is sharing that kind of platform's name i m sure it must be a big platform or at least open for every chinese guy?

 

[Nile Patel]

I care if a winner doesn't pay and is not penalized. Because that is not what would happen to my account if I refused to pay. If different standards are applied to different accounts. The whole system is corrupt. IMHO.

Your answer is hiding on how this whole process is working and that's why i m trying to dig more and asking you guys how this few account bidding and winning this many names.

 

[wwwweb]

Your answer is hiding on how this whole process is working and that's why i m trying to dig more and asking you guys how this few account bidding and winning this many names.

It is not his job to tell you, nor do I think he knows it to a T, it is just surface knowledge, you need to find the source, and ask them directly. Use google, how hard could it be, roll up your sleeves, and do some back checking.

 

[Name Trader]

Your answer is hiding on how this whole process is working and that's why i m trying to dig more and asking you guys how this few account bidding and winning this many names.

I'm not hiding anything. I'm stating the facts as I see them from my perspective.

 

[Name Trader]

It's interesting that I went looking for Andrew Reberry's account here on NP's but @rebes or Andrew Reberry can no longer be found in the NP database. Whatever happened to him. Does he have something to hide?