NameSilo

NameSilo Marketplace Auction "Maximum Bids" Are Disparate - Not In Sync With Value And/Or Each Other

Located in Domain Expiration and Domain Drop Catching started by ddfenton, Jun 27, 2019.

Replies:
3
Views:
423

  1. ddfenton

    ddfenton Established Member

    Posts:
    252
    Likes Received:
    137
    Ok, this is plaguing me -- last week, Name Silo had a 4 letter one-word dot com (and it was the plural of a kickass, generic three-letter) for something like a $2,388 maximum bid, which was, of course, spoken for. A quick Estibot check showed value at $21K -- I suspect it's worth more.

    Hedged in between were substandard domain names (glaringly of less value, 3 words, long ones, misspellings, mixture of hyphens and numbers – B to C list names, no matter how many potential backlinks) were set at max bids of $16K and $32K - so meaning, people can't buy those right away like they can the $200, $90, $80, $65 and $50 ones, which were more often than not, clearly higher quality and more desirable than the ones set a $32K.

    Are they trying to force bidding on leftovers? A number of names I recognized from the previous auction that hadn’t sold, going around again. And they were STILL set at over $1000.
    I get that there may be less desirable domains that Name Silo wants to hold till the last few hours, perhaps for people who lost out on the best pickings?

    These high-priced maximum bids are simply domains without a buy it now price.
    1. And who determines the "bid it now," maximum price?
    2. Is there insider information about availabilities coming up other than drop catch services?
    3. I can’t help but be suspicious as to why such a clearly A-List domain is set to expire to begin with - maybe it didn't, and the bid-it-now will be moot.
    4. Who had entrée to them so quickly - not just the information (Domain Cop?) but with earlier access to bidding? Are the services like Fresh Catch, buying these up? Drop catch lists? I’m not too sophisticated about this stuff.
    5. And what are the bought-it-already domains (that are faits accompli) doing in auctions? On NameJet, if two people bid equally on the same domain name for back order, they get to duke it out in an auction to determine who wins. If there’s only one bid, then that automatically wins.

    By the time the 25 days-till-auction names appear on the site, the good ones, with maximum bids of $1000 and under, but mostly the $200 ones - are all taken.

    Where's the profit in this? Especially since the pricing appears arbitrary. It doesn’t step down a price level anymore if no one buys it the closer it gets to end time, like at GoDaddy.

    And again – why are they appearing on the available list? So, we can try to make rhyme and reason out of pricing discrepancies? So that the current domain holder can stay in the loop and make an educated assessment as to whether to renew or not?

    Generally, Name Silo is pretty transparent about its policies. Not so here – they say something about it being based on past sales and age, etc., but that 4 letter domains dated back to 1997. So, can someone explain the deal to me? Thanks in advance for enlightening me - and sorry so long.
     
    Last edited: Jun 27, 2019
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. Ostrados

    Ostrados Entrepreneur VIP

    Posts:
    2,145
    Likes Received:
    386
    The domains listed for sale at Namesilo under "auction" & "offer/counter" are listed by users, where users set the prices, maximum bid, buy now option..etc. Namesilo has nothing to do with the pricing of these domains.

    Expired auctions are controlled by Namesilo, maybe you were seeing a mix between expired auctions and domains listed by users, to be sure select "expired auctions" in the "type" filter.

    Maybe the domain you saw was not an expired auction.
     
    Last edited: Jun 27, 2019
  3. ddfenton

    ddfenton Established Member

    Posts:
    252
    Likes Received:
    137
    No, these were all expired domains. I'm aware of the distinctions of private sale auctions and offer/counter sales -- and I generally filter them out of search results. Thanks.
     
    Last edited: Jun 27, 2019
  4. ddfenton

    ddfenton Established Member

    Posts:
    252
    Likes Received:
    137
    Update -- I just checked WhoIs and it was renewed yesterday - I'm the owner still has the site. It would have been a shame to let it go so cheaply - he wouldn't have even had the profit. Don't know why NS put it so low. See the below explanation.

    This is what Name Silo says about maximum bids:

    What is the max bid and why is there a maximum?
    Every expired domain auction has a maximum bid. The max bid is the most that can be bid for the domain. It is not possible to bid more than the max bid. We use a maximum bid as a convenience for people bidding on domains. If someone places a bid matching the max bid then they are assured that nobody can bid higher. This means that they can have peace-of-mind that if the domain is not renewed that they will win the auction. We understand there are times people would like to bid more than the max bid, but this is not permitted.

    How is the max bid determined?
    Our system uses several factors to determine the opening max bid for expired domain auctions. Some, but not all, of these factors include the domain length and the age of the domain.

    Now, this is all well and good but do a search for domains with bids on them in expired auctions. Look at the names and what is priced at what level (most are not something you'd buy right away for "peace of mind" because the max is so high) and you'll see what I mean, I think. And if not, tell me :). Thanks, maybe someone can still explain this in real terms.
     
    Last edited: Jun 27, 2019

Want to reply or ask your own question?

It only takes a minute to sign up – and it's free!

Share This Page

NameWorth
  1. NamePros uses cookies and similar technologies. By using this site, you are agreeing to our privacy policy, terms, and use of cookies.
    Dismiss Notice
Loading...