6.2. Auctions (ยป)
6.2.1. Auctions must be exclusive to NamePros until the winner is awarded the item(s) or the auction expires without a winner.
6.2.2. Reserve prices for auctions are not permitted; auction holders (sellers) must set a starting bid that they are prepared to accept.
6.2.3. An auction cannot be modified once a bid is placed with the exceptions of its Buy-It-Now ("BIN") price, bid increments, approving additional bidders, adding payment methods, and/or adding additional domains at no extra cost. Once a bid is placed, every allowable change (the exceptions just mentioned) must be posted to the thread as a new reply as well as updated in the original post before it becomes effective and valid (e.g., a BIN price cannot be accepted until this is done, but
rule 6.2.10 applies). BIN prices are not reserve prices and therefore do not affect
rule 6.2.10.
6.2.4. A Buy-It-Now ("BIN") price may be changed (added, reduced, increased, or removed) on an auction prior to it being accepted, in accordance with
rule 6.2.3. The BIN price in an auction must be publicly accepted by a buyer.
6.2.5. Each domain and website auction must have the required information: domain, registrar, expiration date if
rule 6.1.6 applies, starting bid, bid increments (default: $1 USD), specific end date and time including the time zone or a relative end time (suggested: 72 hours after last bid), and payment options.
6.2.6. All valid bids are binding and cannot be retracted. Bids are void 7 days after outbid by another member or after the auction ends, whichever is later, unless it is the winning bid in which case it is binding until the sale is completed. Auctions and
bids that are unclear, illegible, conducted outside of the public listing (e.g. via direct message), contain inaccurate information or invalid amounts are considered null and void.
6.2.7. Bids must be made publicly in the thread, but offers relating to active auctions must be made elsewhere (e.g., in a
direct message).
Learn the difference between bids and offers.
6.2.8. Listings designated as
Dutch auction must abide by the
format of a Dutch auction.
6.2.9. Reserving the right to decline a bid is only allowed if stated before the auction's first bid, is enacted before the auction has ended, and includes a fair reason.
Rule 6.1.24 applies.
6.2.10. Auction holders (sellers) must sell to the highest bidder with a valid bid at the end of the auction or to the first buyer to accept a valid Buy-It-Now ("BIN") price before the auction ends. If the BIN price matches the current high bid, then the auction ends immediately with the current high bidder as the winner.
Rule 6.1.17 applies.
6.2.11. Auction starting price and bid increments must be in whole dollars of at least $1 USD.
6.2.12. Auction formats, details, terms, and rules created by sellers must be reasonable, transparent, specific, and predictable. Exception: Sellers have full control over the amount of their starting bids, even if the amount seems unreasonable.
6.2.13. All communication about auctions must be carried out on NamePros.com via public or direct messages. Transitioning a conversation to an off-site medium, such as email, is not allowed at anytime when discussing any aspect of an auction.
6.2.14. Auction holders (sellers) and the winners (buyers) must
notify our support team of auction agreements that will not be completed.
Now our members going to pull all listings? Probably not, can Namepros enforce that? Probably not.
Namepros does not have auctions with reserves. So every name should sell.
Now back when BrandBucket auctions were big, someone would ask, what if someone buys the name at BrandBucket for say $3,000? Well Namepros came up with a plan that the seller could state up front, if a name sells while this auction is going on, I will give the winner $300 for example. Just so long as this was stated upfront the auction was allowed. Don't like it, Don't Bid. This was a special situation because the bidders would not want the BrandBucket listing pulled down, they were bidding to own at BrandBucket.
The same could be done with listings at DAN or Sedo or Afternic, someone could say if it sells for retail while I am auctioning wholesale I will give the winner or high bidder, $100, $200,$300 etc...
Now of course if the seller cannot deliver the name and there is no disclosure upfront, they will get an infraction, NO THEY WON'T BE BANNED FOR ONE BAD DEAL.
So it comes down to what is your integrity worth, someone is running an auction on a 5L pronounceable it's at $50, they get an email CONGRATULATIONS "5L.com" sold for $3,000.
What do you do? Most will take the infraction.
