Live bin auction discussion, or add bin later.

[mad409]

@Eric Lyon and others...

Would like to chime in on these "bin might be added later" and "PM me your bin" during active live auctions. This isn't the first time I've seen confusion with this and it creates problems for active bidders. In short it becomes a waist of our time when the domain is sold out from under everyone bidding per say.

My suggestion would be to require a bin at the start of the live auction, or make it a no bin auction. If you want to run a PM bin auction only fine but don't allow live bidding.

Even if it's left in its normal state a buyer can PM the seller, workout a deal, seller lists bin and buyer would post sold before other active bidders have a chance to see the new added bin. Due to this, being a global community time zones become an issue therefore many would not see the bin until it's too late.

This is merely a suggestion to avoid confusion, like what happened here for example:

https://www.namepros.com/threads/zdze-com.991452/#post-5904628

The fix is simple IMO, put a bin at the start or make it a no bin auction and only live bidding.

I personally will no longer bid on a NP auction that has any print that says "bin to be added later", "might add bin later, "to early for bin right now", or "PM me a bin" when live bidding is taking place by multiple members.

I understand Eric is doing all he can to correct these type issues but the way to correct it is to not allow it but would love to hear other insight on how to make this better if at all possible.

I've presented my suggestions in short, TY..

 

[Eric Lyon]

That was an unfortunate case of members not following the rules, and we will be issuing infractions / closing their accounts if the rules are not followed.

Here was my reply to another member who brought up that auction:

It's within the rules to negotiate/discuss a BIN price with the seller while an auction is running. All auction participants are given the same opportunity to discuss a fair BIN price with the seller via PM. Once the seller has decided on a BIN price, it must be posted in the public auction thread and the first to accept it will win. They are also allowed to coordinate the times if they want but that doesn't guarantee who will post "SOLD" first, although it does help.

This is a common and fair practice (On many other marketplaces outside the industry too) because everyone has the same opportunity to negotiate/discuss it with the seller at anytime and attempt to claim the BIN in the thread before anyone else.

Hope that helps explain it,

Sorry for the confusion caused in that auction, but this isn't something we're considering changing at this time. Please help report these issues when they happen so we can get involved sooner to take action.

Thanks for your help,

 

[Eric Lyon]

Here's an idea:
Sellers (Who choose to) can write in their auction "No BIN will be added" and then we will enforce that rule in their auction. If Sellers want to have "no BIN auctions" to help buyers feel comfortable participating in their auctions, that might be a good strategy. It's up to the sellers if they want to force an auction of theirs to never have a BIN.

 

[-EM-]

Adding the BIN price at any moment in an auction is correct IMO.
There are auctions that may take too much time till they end, so by adding a BIN at some point would make things go smoother. Same thing goes from the other side. The buyer asks for a BIN to be added to make sure he/she gets the domain immediately.
I do suggest that by adding/modifying the BIN, a notification should be posted in the thread.

 

[Eric Lyon]

do suggest that by adding/modifying the BIN, a notification should be posted in the thread.

Agreed, this is part of the rules and not optional (It's required for all BIN additions/modifications).

 

[Centaur]

I thought I was the last one to make an offer. What happened? I didn't see any BIN.

 

[mad409]

Here's an idea:
Sellers (Who choose to) can write in their auction "No BIN will be added" and then we will enforce that rule in their auction. If Sellers want to have "no BIN auctions" to help buyers feel comfortable participating in their auctions, that might be a good strategy. It's up to the sellers if they want to force an auction of theirs to never have a BIN.

That's a good idea, those that are not gonna be adding a bin later post it within your auction details. That will be the ones I'm looking for moving forward.

It's just too easy to manipulate the system when allowed to add a bin later because seller may have a buyer ready to buy, seller posts the bin, buyer is waiting and posts sold within seconds. This process does not allow enough time for others to respond and when they do get the notification it's too late.

What would be nice but don't see this change being made but once a bin is added to a live active auction with bids there would be a 8 or 12 hour timeframe before a buyer could post sold at bin.

That would be a substantial amount of time for everyone participating in the auction to see the bin addition and time to respond if they wanted.

Honestly even if the OP of the auction mentioned followed the rules, the buyer was ready to buy and they could have worked together and did the sale per the guidelines. Other bidders would have never stood a chance regardless..

 

[-EM-]

It's just too easy to manipulate the system when allowed to add a bin later because seller may have a buyer ready to buy, seller posts the bin, buyer is waiting and posts sold within seconds. This process does not allow enough time for others to respond and when they do get the notification it's too late.

There is no manipulation at all. You and the buyer had the same time and opportunity to get the domain. Of you are bidding and hope to get the domain cheap (low ball bids), than it's an other story. If you really are interested in the name, bid and ask for a bin if there isn't any.

 

[-EM-]

Flippa and bido work in the same way.

 

[mad409]

There is no manipulation at all. You and the buyer had the same time and opportunity to get the domain. Of you are bidding and hope to get the domain cheap (low ball bids), than it's an other story. If you really are interested in the name, bid and ask for a bin if there isn't any.

I've said enough above and that's my opinion. No need for me to repeat myself...