Just bought an awesome GD BIN auction domain, fake?

[nick3]

Hi everyone,

I just bought an awesome generic .com domain at GoDaddy auction for around 70 euro BIN. I don't want to say the name yet, but this one could be sold for thousands, think even 50k+. So I am probably being scammed..? Of course I have to wait 14 days, but I am already looking forward to a GD email with bad news... Ever happened to anyone of you?

 

[frostify]

I bought NUP.com for $250 on GD BIN and sold it for $25,000 on Flippa so anything is possible

 

[nick3]

As expected:

It has come to our attention that the seller of streetwear.com does not own the domain and will not be able to complete the transaction as agreed. At this time we have taken action against the seller and have issued a refund for the purchase of this domain. Please let us know if you have any questions and we apologize for the inconvenience.

 

[Haris]

Do make sure it isn't an IDN or a typo

 

[WhoaDomain.com]

you never know. you can get lucky on GD sometimes. that's how I ended up with 885888.net for low low $xx.

it sold for $4800 at some point in 2015.

 

[maxtorz]

No you are not being scammed if it was a regular listing on GD.
I can't wait to find out your 50k .com generic domain that you purchased for 70euro.

 

[Ali]

Hope you get it. I've found a ton of gems this way - you never know.

 

[d-e-x]

Menus.com sold for $70 back in 199X and flipped for 25k...and in 2017 people buying 70Euro domain with 50k value? common now )) It's not the lottery anymore
I think people definition of "generic .com domain" has been stretched a bit....

3 years ago I have hand reg. 3 word domain and year later I have sold that domain for 40k+ EUR. So, it is possible. Why not?

 

[maxtorz]

Post the domain...
It happens to me all the time, if it's a Godaddy Expired auction the owner can renew it at the last moment and you simply get a refund.
I was the winning bidder of L*a*p*t*o*p*P*a*r*t*s.com(expired) not that long ago for $2500 and owner renewed it last minute and I got refunded.
I also got great names too, so it's a bit of luck on the GD expired auctions...

 

[sofiapartner]

Are you sure it is Buy Now and not Make Offer ?

OK. Then carefully check if its not mispelling. If not

1. Either the domain is not worth 50K+
2. Something is wrong.
3. The transfer wont go through
4.You are really lucky.

 

[urlurl]

i don't recommend doing that strategy, you never know when the systems go down, payment doesn't go through or GD changes their policy . lol

 

[usernamex]

WOW @frostify - incredible flip!

http://dnpric.es/?di=nup.com
Known sales DNPric.es
nup.com August 2013 $ 250.00 USD via AfterNIC
nup.com April 2015 ** $ 25,000.00 USD via Flippa auction

 

[wwwulff]

If it is too good to be true it probably is - good luck

 

[maxtorz]

Menus.com sold for $70 back in 199X and flipped for 25k...and in 2017 people buying 70Euro domain with 50k value? common now )) It's not the lottery anymore
I think people definition of "generic .com domain" has been stretched a bit....

 

[urlurl]

NO, $2500 was my winning bid for that expired domain, and the owner renewed it the last day.
GD will simply refund you your money.
GD doesn't provide any "evaluations"...and LaptopP*A*R*T*S.com is worth more then 2.5k....that was just my final bid.

some sellers do this on purpose - let it go to expired auction to see what it will sell for and get interest in the name. and some are just asleep at the wheel

 

[urlurl]

That's the reason we do it, its like a virtual treasure hunt.

 

[forge]

Street Wear is not a single word, it is owned by a domainer to be parked at park logic

They probably make more per month in parking than the seller would net on the sale.

In 2017, it is a single word:

street·wear
ˈstrētˌwer/ noun
noun: streetwear; noun: street-wear
Casual clothing of a style worn especially by members of various urban youth subcultures.

 

[maxtorz]

lol I think you misunderstood friend.

TDM didn't say they "provide" any "evaluations" but the fact that you bid THAT high on a domain? well then the owner now has a sorta "heads up" on what the "market" value of this domain is.

so now with that "data" and knowing he can at least sell this domain for $2500?

for an $80 fee to recover the domain and take it out of auction last minute?

that's a good move I think.

the question is or the real "kicker" is

will the original bidder who bid up to $2500. will this person be pissed? will that person ever come back if the domain owner posts it for auction again?

What online marketplaces or registrars should do is give domain owners who decide to rescue their domains from auction a way to contact the original bidders via private message via Godaddy (for example)

I for one would pay an extra $xx for that option to contact say the domain bidder who bid $2500.

I mean if I've paid $20 for 2 years reg and then $80 to recover a domain from the brink of being sold at auction for $2500?

I would pay $100 happily to be able to contact the original $2500 bidder and let them know they can have the domain for the original last bid they made for $2500.

my loss? $20+$80+$100+ 15% commission to godaddy. profit? $1925.

not bad right?

especially when you as the domain owner almost lost the domain.

I wonder why they don't allow this or have this feature?

This would make things so much easier.

I don't even need to have the persons contact info. It would be similar to how DomainAgents works in which the buyer and seller don't know each other buy can message each other via DomainAgents.

1.Bidding is anonymous on GD marketplace, so the owner can't contact the bidder at a latter time;
2.I would happily pay $2500 now on a domain that is worth 8-12K imo;

Namebio:
laptopparts.com 2,402 USD 2016-08-05 GoDaddy (My final bid)
laptopparts.com 3,000 USD 2016-08-24 Flippa(somebody else bought it on Flippa latter)

It does appear that the owner was testing the waters by letting it expire on GD, renewed it and stuck it on Flippa and then sold at 3k.

 

[Candace]

100% no typo, what is IDN?

This might be the issue. The fact that the OP asked "What is an IDN?" could mean that it might be an IDN that looks like the real thing.
An IDN is an International Domain Name - a domain with letters that are not in the english alphabet, although some of letters may look identical to letters in the English alphabet.

Anyway, great buy for you if it turns out that there are no typos and it's not an IDN

 

[tldboss]

@nick3 good luck

generic one word 20 year old gem

Please do let us know the name when you have it in your account

 

[forge]

Don't wait. That is, give it maybe 5 days after purchase and simply email auctions<AT>godaddy.com stating your concerns whether it was a legitimate listing. They should clarify that or at least respond within 24-48 hours.

 

[tldboss]

Wow, nice name. Sorry mate, was too good to be true.

At least now you know the truth, you can relax, good luck!

 

[forge]

As expected:

It has come to our attention that the seller of streetwear.com does not own the domain and will not be able to complete the transaction as agreed. At this time we have taken action against the seller and have issued a refund for the purchase of this domain. Please let us know if you have any questions and we apologize for the inconvenience.

Streetwear. I had seen this domain at GoDaddy within the past week but did not notice the BIN. Either that and/or another NP member had mentioned the domain in chat. Though not a dictionary word, it falls into that category of New Age "compound" catchwords that would (IMO) qualify it as a one-word brandable name.

In fact this seals it for me:

https://www.namepros.com/search/5842751/?q=streetwear&o=relevance

Sorry that it didn't work out.

 

[nick3]

Do make sure it isn't an IDN or a typo

100% no typo, what is IDN?

 

[TDM]

yeah would not call that a strategy either.

But on names intended to let drop anyway.. bids may get someone to rethink that decision.

I know I would.

If some supposedly craps (hence the drop) get cool bids..


edit:
on the other hand I somehow got the strong feeling that resellers love to bid on expired's.
That same name would otherwise be unsellable.

I mean, how many domains get sold here for eg a few bucks where bidding just stops in the 15ish range.. or even stay unsold at all... most maybe happily paid 70+ from expired list

 

[alcy]

Haha. Ohhhhh but they were.

well.. I'm still gonna say that the days of buying generic .com with liquid like value of 50k+ for $100 have ended a good while ago ehhehe