NameJet mininum bid increased

[tonecas]

I have been seeing an increasing number of truly expired domains, mostly coming from Network Solutions, that have their minimum bid raised on Namejet.

However, since a few weeks ago, NameJet has been rolling out a new game that consists on raising the minimum bid in the last day before the backorder deadline.

The intention of this move is easy to grasp.

NameJet has always been shaddy and mixed truly expired domains with private domains for sale to capitalize on the lack of knowledge of many that many domains are not expired. It is so that they never recognize they do sell private domains neither publicly nor even in their help pages.

Even today there are domainers that don't know this so we are not only talking about the regular Joe. Having many bidders in an backorder list attracts more bidders and you can attract a little more by letting people think they are expired. It is a well known fact, not an opinion. And if you don't agree I will toss you another food for thought: why domains that are expired recurrently get more bids that when they have been for sale for years and no one picked them up, probably at lower prices that they will get in an expired auction?

So it is easy to add 2 and 2 and see that having a domain with a minimum bid of $69 for days, collecting bidders at low prices, will attract bidders in the last few days that is when most bidders place their backorders because of the visibility of the domains being on the front pages.

Then why not use this pattern and increase the minimum bid to make these last bidders think people are bidding on the increased $XXX backorder when in fact a good part of them have placed the bids at $69? Again, if you don't agree with this and don't see any shaddy intention behind it then I ask you if you have seen any auction elsewhere where the minimum bid has been raised and the bidders with lower bids are allowed to participate on it?

So, let us move on and see an example:

bidder1 $807 3/27/2013 7:58 PM
bidder2 $807 3/27/2013 7:59 PM
bidder3 $69 3/27/2013 7:55 PM
bidder4 $69 3/27/2013 7:59 PM

so in this case we have the bidder4 that has managed do place a $69 backorder at 7:59 PM when the bidder1 got to place his backorder at the increased $807 bid *one minute before* at 7:58 PM and bidder2 that place his bid also at the increased minimum bid of $807!

just beautiful don't you think? :gl:

now, go back to bid happily on NameJet

regards,
tonecas

 

[domainnametank]

If the minimum bid is $69 and let's say nobody has bid on the auction, if you bid $200 at 7:58 PM I can come in and bid $69 at 7:59 PM and I will be entered into the auction.

it will say:

bidder1 $200 3/27/2013 7:58 PM
bidder2 $69 3/27/2013 7:59 PM


When the auction starts you will be winning with a bid of $200 and I would have to place a bid of $220 to beat you.

 

[DU]

If the minimum bid is $69 and let's say nobody has bid on the auction, if you bid $200 at 7:58 PM I can come in and bid $69 at 7:59 PM and I will be entered into the auction.

it will say:

bidder1 $200 3/27/2013 7:58 PM
bidder2 $69 3/27/2013 7:59 PM


When the auction starts you will be winning with a bid of $200 and I would have to place a bid of $220 to beat you.

I think the point is that the increased $200 bid is shown to increase visibility and add more bidders in an attempt to get a mini bidding war going.

I think the real issue is whether that $200 bid is legitimate. I don't trust or understand why anyone would bid more prior to the auction.

It also seems that some people get holding the bag when those bids miraculously disappear and your $69 is now winning.

 

[domainnametank]

I think the point is that the increased $200 bid is shown to increase visibility and add more bidders in an attempt to get a mini bidding war going.

I think the real issue is whether that $200 bid is legitimate. I don't trust or understand why anyone would bid more prior to the auction.

It also seems that some people get holding the bag when those bids miraculously disappear and your $69 is now winning.

If I bid on a domain I know I am going to pay at least $69 dollars for it. You shouldn't be bidding on a domain if you don't want it, right?

Holding the bag? No, I call that score. If I bid on something I have done my due diligence and I want that domain. I'm not bidding on something blindly like some sheep.

And if someone is just tossing a bid on a domain because they see others bidding on it, well, whose fault is that?

Seems like it thins the herd and I welcome it :hehe:

 

[tonecas]

If the minimum bid is $69 and let's say nobody has bid on the auction, if you bid $200 at 7:58 PM I can come in and bid $69 at 7:59 PM and I will be entered into the auction.

it will say:

bidder1 $200 3/27/2013 7:58 PM
bidder2 $69 3/27/2013 7:59 PM


When the auction starts you will be winning with a bid of $200 and I would have to place a bid of $220 to beat you.

the high bids were not placed because the bidders wanted to starting to bid at that level. they were placed because the minimum bid was increased arbitrarily by NameJet. these were not high bids/proxy bids.

we have:

1) bidders with bids below the starting minimum bid that are allowed into the auction. these are private auctions not public auctions and in my book if a person has a bid bellow the required minimum bid then it should be removed from the auction. if everyone has access to an auction then lets stop pretending that there is a minimum bid to backorder and make all domains go to public auctions where *anyone can enter at any time* until the auction ends

2) bidders that placed bids bellow the minimum bid when that bid had already been increased. if this is allowed them the bidders that were obligated to place higher bids to enter the auction are being scammed because there is no rule in book that says that that is permitted and can even lead to a court action because of discrimination of access to an auction.

regards,
tonecas

---------- Post added at 08:05 PM ---------- Previous post was at 08:03 PM ----------

I think the point is that the increased $200 bid is shown to increase visibility and add more bidders in an attempt to get a mini bidding war going.

I think the real issue is whether that $200 bid is legitimate. I don't trust or understand why anyone would bid more prior to the auction.

It also seems that some people get holding the bag when those bids miraculously disappear and your $69 is now winning.

the bids were legit but were placed because the minimum bid to backorder was increased.

yes, "holding the bag" is precisely one of the scams that have been going on for years on NameJet

regards,
tonecas

 

[JB Lions]

"I don't trust or understand why anyone would bid more prior to the auction."

It's a tactic sometimes used, not just domain auctions. I saw that on a show recently on TV. If somebody really wants it, it's letting everybody else know it's about to pop up, there is a real bidder here. Kind of like dropping the hammer from the start.

"truly expired domains with private domains for sale to capitalize on the lack of knowledge of many that many domains are not expired. It is so that they never recognize they do sell private domains neither publicly nor even in their help pages. "

I assume the ones with Reserves are the private ones. I noticed they added that a few weeks ago or I'm seeing it a lot more.

"why domains that are expired recurrently get more bids that when they have been for sale for years and no one picked them up, probably at lower prices that they will get in an expired auction?"

Awareness. Some people just focus on NJ and SN auctions, so if it's not there, they're not going to see it.

 

[domainnametank]

the high bids were not placed because the bidders wanted to starting to bid at that level. they were placed because the minimum bid was increased arbitrarily by NameJet. these were not high bids/proxy bids.

we have:

1) bidders with bids below the starting minimum bid that are allowed into the auction. these are private auctions not public auctions and in my book if a person has a bid bellow the required minimum bid then it should be removed from the auction. if everyone has access to an auction then lets stop pretending that there is a minimum bid to backorder and make all domains go to public auctions where *anyone can enter at any time* until the auction ends

2) bidders that placed bids bellow the minimum bid when that bid had already been increased. if this is allowed them the bidders that were obligated to place higher bids to enter the auction are being scammed because there is no rule in book that says that that is permitted and can even lead to a court action because of discrimination of access to an auction.

regards,
tonecas

---------- Post added at 08:05 PM ---------- Previous post was at 08:03 PM ----------



the bids were legit but were placed because the minimum bid to backorder was increased.

yes, "holding the bag" is precisely one of the scams that have been going on for years on NameJet

regards,
tonecas

Yes I know what you are talking about and I've seen that happen recently, but even though the minimum bid was increased by NameJet I was still able to bid $69 and get into the auction.

---------- Post added at 03:22 PM ---------- Previous post was at 03:19 PM ----------

And how does one get left holding the bag? Do you mean the bag holder sees people bidding on a domain and blindly toss a bid just to get into an auction? Then it turns out he is the only one bidding?

 

[JB Lions]

Yeah, I'm not following a lot of it either. $69 gets you a seat at the table. I've never had it where all the bidders just disappeared and I get the name for $69. And if I did, great. I bid because I want that domain. I pretty much recognize everybody at this point, so I know they're real people I'm bidding against.

 

[DU]

the high bids were not placed because the bidders wanted to starting to bid at that level. they were placed because the minimum bid was increased arbitrarily by NameJet. these were not high bids/proxy bids.

Thanks for the clarification. Appears I was incorrect again.

"I don't trust or understand why anyone would bid more prior to the auction."

It's a tactic sometimes used, not just domain auctions. I saw that on a show recently on TV. If somebody really wants it, it's letting everybody else know it's about to pop up, there is a real bidder here. Kind of like dropping the hammer from the start.

I do understand really. I actually think the best tactic is to just bid your maximum proxy and walk away. Saves a lot of hassle and you can go out and do things. I'm not involved in enough auctions for it to really matter.

Yeah, I'm not following a lot of it either. $69 gets you a seat at the table. I've never had it where all the bidders just disappeared and I get the name for $69. And if I did, great. I bid because I want that domain. I pretty much recognize everybody at this point, so I know they're real people I'm bidding against.

I'll leave this for ToneCas because I'd mostly be speculating. I have been on a name where I bid just to watch once and the 2 other bidders backed out prior to auction - which sucks.

I'd hope it doesn't happen on private auctions (with shill bidding).

Sure - you shouldn't bid more than you want but that's not how humans work. It takes a lot of self control to stick to pre-defined limits and most people don't have it.

 

[Name Trader]

You learn something new every day I didn't know there were private auctions at NameJet. I too have seen more of these auctions with reserves and wondered what that was all about.

 

[DU]

You learn something new every day I didn't know there were private auctions at NameJet. I too have seen more of these auctions with reserves and wondered what that was all about.

There have been a number of .TV auctions that have been setup with bidders that then went away.. and came back again.. so I'm pretty sure most .TV people know this had started....

I assumed that everyone would know because .TV speculators aren't real domainers, after all :lala:

 

[tonecas]

And how does one get left holding the bag? Do you mean the bag holder sees people bidding on a domain and blindly toss a bid just to get into an auction? Then it turns out he is the only one bidding?

that's exactly that. 2 fellows used to do that and they still bid (and sell) domains at NameJet so all is said about this...

there are also about 6 guys that typically place their bids on auctions with more than 7 bidders in the last few minutes of the deadline to place the backorder (with bots). and they rarely bid. they are there to get the auction's action and final prices.

so, the same way people can bid strong just from the start of the auction - which for me doesn't make much sense but it is a true technique - there are people that go to auctions not even to get the domains. and there are those that only bid when they see an auction with strong action.

so all this human behavior is being explored with clear unscrupulous ways by NameJet. and it's getting so "in your face" month after month that I always find it puzzling how these guys are still in business without any court action.

regards,
tonecas

---------- Post added at 11:27 PM ---------- Previous post was at 11:16 PM ----------

I do understand really. I actually think the best tactic is to just bid your maximum proxy and walk away. Saves a lot of hassle and you can go out and do things. I'm not involved in enough auctions for it to really matter.

i think that's the main rationale behind that tactic. I personally don't like it because more often than not you end up paying more than you could if you just sit tight. you are just telling others that you are interested in the domain and you can be run up that way after awhile. I only use this technique once in a while to "scramble" my MO. if you wait until the end chances are that other bidders may have missed the end because of other affairs or because they are bidding in other auctions.

but I digress

I will toss another hint nonetheless. you can have more than one bidder alias on NameJet (and SnapNames for that matter). if you bid often then this could be another techinique at your disposal. it opens the door also for shill bidding making it more difficult to detect.

regards,
tonecas