NameSilo

Namesilo removed domain name from auction in the last hour

Located in Domain Marketplace Reviews started by TheBuyerz, Nov 22, 2019.

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898

  1. TheBuyerz

    TheBuyerz Established Member

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    Hi,

    I was tracking a domain name from 5days now... we have been 3 bidders against that domain name.

    I was told to wait until the last minute to make a bid, and keep checking for the countdown each minute.... but unfortunatly when it left exactly 1h20min, the page disappeared !

    I contacted support service to know more, they said that the domain owner renewed it!


    He had all the time to renew it... why the last hour?

    Veru upset and disgusted about this matter.
     
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  2. equity78

    equity78 Top Member TLDInvestors.com TheDomains Staff PRO Gold Account VIP ★★★★★★★★★★

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    They were looking for a real life appraisal. People used to do that on GoDaddy all the time til they changed their auction rules. It does suck when you bidding at auction.
     
  3. karmaco

    karmaco Top Member VIP

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    It happens all the time. Don’t take it personally. A name is not your name until they push it into your account. For that specific reason, its best to wait til the very end to place a bid.
     
  4. imadoer

    imadoer Top Member PRO VIP

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    Hence the reason I dont bid there. The names renew more then they sell. Even more painful when you pay them xxxx and it tales you 3 months to get your money back :xf.frown:
     
  5. whenpillarsfall

    whenpillarsfall Top Member VIP

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    Sadly common. I've won and paid, and still had the domain get renewed. Godaddy changed the rules so this doesn't happen anymore for domains registered with them, but they sometimes act as a third party auction site for other registrars, and with those domains the last minute renewal can still happen.
     
  6. z4z4o

    z4z4o Established Member

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    I follow around 100 names on there and the overwhelming majority are renewed in the last 10 days or the moment someone makes a bid. Only reason it's worth it is that you get near no competition and don't get overcharged having to deal with HugeDomains.

    This is the problem with allowing standard renewal prices on expiring names right until the very last second, unless that changes it won't stop..
     
    Last edited: Nov 22, 2019
  7. Domainstore

    Domainstore Top Member VIP ★★★★★★★★★★

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    Why the last hour ? Strictly speaking THE NORMAL PROCEDURE is that the grace period (for renewal at normal pricing and still be able to transfer out) is 40-42 days and afterwards the current owner gets a Registrar Redemption phase of 30 days where he can renew paying Registrar Redemption Fee. Then 5 days pending delete, and then free to the public.
    But what do registrars do : they make it 30 days (Namesilo) and not being able to transfer out, and then they add a so-called auction, and depending from registrar to registrar the auctionwinner gets the domain, OR the auctionwinner doesn't in case the owner still renews the domain (at Dynadot : by paying renewal and add late renewal fee the domain).
    At Namesilo it's 33 days to renew. But before already the auction starts, and at day 30 or 31 if somebody has placed a bid, the domain goes to the auctionwinnner. Unless the owner has renewed at the 30th day or sooner.
    BOTH registrars DIDN'T HAVE AUCTIONS YEARS AGO. But viewing the profit, they disadvantaged the current owners, and began organising auctions.
    All these auctions have been started by the registrars for the money the can earn with it. And Dynadot also wins money, on domains you renew later then the 29th day if you want to renew. If they are in auction, or not, doesn't matter, the late renewal fee has to be payed. The current owner who has to renew, gets 29 days, and not 39 like in the past, and has to pay a late renewal fee in the last 10 days.
    This is disadvantaging for the owners, in comparison with the past when there was no extra renewal fee last 10 days, and ENORMOUS DISADVANTAGING in comparison with some more years back in the past, when there were NO auctions.
    And for Namesilo : There are people who have to renew a lot of domains, don't have money to renew them all, in a particular month and of course some of them, wait till the last day for economical reasons.
    Rich domainers will be able to renew even before expiration, but not everybody is rich.

    And the big question is is if all such aftermarket auctions are complying with the ICANN-rules !!!

    I do understand that it is sad that the auction-win has to be payed sometimes, before it is known if the current owner still can renew (what's not the case at Namesilo), and then have to get his money back.
     
    Last edited: Nov 22, 2019
  8. Furquah

    Furquah Brand Ambassador INDIA Epik.com Staff VIP

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  9. xdomainer

    xdomainer Top Member VIP ★★★★★★★★★★

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    Well it looks like the max bid opportunities at NS auctions might be over. I'm seeing all 1k minimum (max) bids across the board this morning.
     
  10. TheBuyerz

    TheBuyerz Established Member

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    Since we do have to load funds (renewal price + bid amount) to be able to pass a bid ! I made around 2 deposits to cover the bids, and waiting the last hour to load again my account to make a last bid again in the hope to win the auction ... but all the strategy of the last 5 days, efforts to gather money, patience and checking the auction page each minute made me out of my control ... I don't like to make bad review for online services since me also I running businesses and don't like my clients do this until we try to solve the problem and get in touch with us first, but it's not the same case here.

    And for each deposit, there is fees involved from both PayPal and my bank, and the part of funds loaded using bitcoin ... so it's not possible to bid in the last moment knowing that the bitcoin transaction will take up to 1-2 hours to be credited on my account ... it's an engagement and there is risk to lose the auction but not in such circumstances ! We have to focus on the auction without worrying about other interference like this.

    Finally, when 1h20min left to the auction ... I call this the last moment to BID and manage to add the required funds to cover it !

    karmaco To not lie, I took it personally sincerly !

    Thanks all for your answers :)
     
    Last edited: Nov 22, 2019
  11. cabotower

    cabotower Top Member VIP

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    frustrating, i know. i've seen names renewed with only minutes left . they always send an email letting you know when bids are placed on a name you have on your watchlist and also if the owner renews. as far as loading cash goes i don't do that anymore since they gave me a credit limit.
     
  12. wwwweb

    wwwweb Top Member VIP ★★★★★★★★★★

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  13. cabotower

    cabotower Top Member VIP

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    they used to end their expired auctions at 2 AM then they switched to 3 AM. anyone know if they switched back to 2AM? Eastern Time.
     
  14. xdomainer

    xdomainer Top Member VIP ★★★★★★★★★★

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    Yeah it changes with daylight savings time.
     
  15. cabotower

    cabotower Top Member VIP

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    i didn't make the connection.
     
  16. golan

    golan GolanMedia.com Gold Account VIP

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    Happens all the time, as other friends already said. Even in the last seconds.
     
  17. wwwulff

    wwwulff Top Member VIP

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    Strange, I have never been ask to pay before the name was in my account at NameSilo
     
    Last edited: Nov 22, 2019
  18. TheBuyerz

    TheBuyerz Established Member

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    You have to deposit money in your account in order to pass a BID.

    Perhaps if you link your credit card it's not required.
     
  19. wwwulff

    wwwulff Top Member VIP

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    I always pay with PayPal but it is linked to my credit card, so that's probably why
     
  20. cabotower

    cabotower Top Member VIP

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    i use paypal at ns and the paypal acct is not linked to a cc. they offer you credit after you have been a good client for a certain amount of time. you can not ask them for a credit limit it must be offered to you.
     
  21. karmaco

    karmaco Top Member VIP

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    They have lost their ever loving minds. Even the garbage and gibberish is priced at 1K. Way to kill your auctions @namesilo. Honestly, they have gone downhill since the buyout. No one is going to pay those outlandish prices.
     
  22. cabotower

    cabotower Top Member VIP

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    what's up with all those $1 bids? is ns the actual owner of those names?
     
  23. namesilo

    namesilo Top Member NameSilo Staff VIP

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    Thanks for the tags. As other NPs have clarified above, the owner of the domain has until the end of the auction to renew their expiring name. It's a risky proposition that we don't recommend because if the renewal fails for whatever reason, they may end up losing the domain but some still test it.

    Also, to clarify another misconception above - we don't bid on marketplace or expired domain names, users on our platform do.
     
  24. PapaTama

    PapaTama Established Member

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    Please tell to your boss. the auction rules there are really ridiculous. I think many people are disappointed with this ridiculous rule
     
    Last edited: Nov 23, 2019
  25. namesilo

    namesilo Top Member NameSilo Staff VIP

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    Sorry that you do not approve of our change but we received overwhelming feedback that users were getting locked out of auctions and it was resulting in a poor user experience. But to clarify, what we raised was the Max Bid, the winner is still determined by auction and you are allowed to bid whatever amount you wish. Eventually, we plan to move our expired domains auctions to a proxy bidding system and let the market determine prices on names instead of us setting arbitrary price caps.

    In the meantime, our suggestion is as it's always been, to bid your true value on expired domain auctions (i.e. what that domain name is worth to you). This way, you will likely remove from the auction other users that are simply limping in because it's a possible cheap acquisition target or because there is demand for the name. And if you lose it, you know that you bid what that domain name was worth to you anyways. If all you're looking to do is to win domains for cheap, then you can still bid low across the board and if you start to notice other bidders jumping in to a particular name, then you can bid your true value or just let it go.
     

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