NameSilo

Warning

Located in Warnings and Alerts started by frank-germany, Feb 1, 2016.

Replies:
60
Views:
5,852

  1. frank-germany

    frank-germany domainer since 2001 / musician Gold Account VIP

    Posts:
    7,250
    Likes Received:
    9,005
    it looks to me like here are members who may try this trick:

    get you into a deal
    and then after its locked in
    like agreed in escrow
    or SOLD here

    after getting you down as much as possible

    then do not pay
    and as the domain is locked for them

    simply wait for the development of the ( chinese ) market

    and later if market goes up
    may eventually pay you then
    and if not
    they may simply just disapear



    same happens at sedo
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. Jen-Sin

    Jen-Sin Established Member

    Posts:
    437
    Likes Received:
    944
    I had a Sedo sale back in November 2015.

    Buyer paid but disappeared. Domain is still sitting with Sedo.

    UNRZ.com
     
  3. nicedomains

    nicedomains Upgraded Member Gold Account VIP ★★★★★★★★★★

    Posts:
    7,909
    Likes Received:
    695
    This could be a big problem here in the next few weeks with many anticipating another spike in the short domain market with the coming and passing of Chinese new year. Thanks for the info.

    There should be some very clear literature here and at other marketplaces (if not already in place) about how long these agreements are binding for.

    Not the same situation as the OP has written about, yes this happens to but if paid it's not some sort of shady dealing like frank-germany is talking about.
     
  4. Jen-Sin

    Jen-Sin Established Member

    Posts:
    437
    Likes Received:
    944
    Yeah. It's not the same. Just stating that the opposite could happen. Buyer paid and totally forget his purchase. Lol
     
  5. ksusha64

    ksusha64 Top Member VIP

    Posts:
    12,280
    Likes Received:
    3,334
    Great post!!! I complete agree!
     
  6. Haris

    Haris Best Domainer Of The End-Times VIP

    Posts:
    6,412
    Likes Received:
    7,967
    He might have died. Who knows?
     
  7. bene

    bene Top Member VIP

    Posts:
    1,434
    Likes Received:
    994
    same here. buyer paid but didn't take the domain from sedo it is over a year now, sedo keep renewing the domain.

    well sedo paid me my cash. but i wonder why the name is still with sedo
     
  8. Nat Hunt

    Nat Hunt Upgraded Member Gold Account VIP

    Posts:
    4,918
    Likes Received:
    3,763
    If you know of members who are doing this, please share their names. Thanks.
     
  9. Jen-Sin

    Jen-Sin Established Member

    Posts:
    437
    Likes Received:
    944
    Sedo earned at least $60 from each sale. They can afford to renew for 7 years and not lose money and then auction it off at the 7th year for a nice profit.
     
  10. Nerevar

    Nerevar Top Member VIP

    Posts:
    2,501
    Likes Received:
    1,676
    You can protect yourself by specifying a shorter period to pay than the 1-week rule. For example, when starting an auction, write that the payment must be done within 24 hours or the deal is off.
     
  11. bene

    bene Top Member VIP

    Posts:
    1,434
    Likes Received:
    994
    oh. you are right.

    but why will the buyer leave the domain at sedo?

    it was a company that bought my domain (plural version)
     
  12. ramkumaritrvs

    ramkumaritrvs RapidNames.com PRO VIP

    Posts:
    2,425
    Likes Received:
    4,112
    Looks interesting...
    All my buyers got their domain from sedo & started their development within 3-6 months.
     
  13. frank-germany

    frank-germany domainer since 2001 / musician Gold Account VIP

    Posts:
    7,250
    Likes Received:
    9,005
    you may want to talk to sedo to reverse the sale covering the fees yourself
     
  14. frank-germany

    frank-germany domainer since 2001 / musician Gold Account VIP

    Posts:
    7,250
    Likes Received:
    9,005
    when selling a domain same applies

    sedo just want their commission paid by buyer

    godaddy told me they will bann the user
    but I think they won't
     
  15. Dominic Belley

    Dominic Belley Four Letter Acronyms VIP

    Posts:
    2,726
    Likes Received:
    2,606
    I am not sure I understand. If a buyer does not pay, you simply cancel the transaction after a few days and sell it again to someone else. It does not really represent a big problem.
     
  16. frank-germany

    frank-germany domainer since 2001 / musician Gold Account VIP

    Posts:
    7,250
    Likes Received:
    9,005
    not a big problem

    just keeping you busy for a few hours
    -how do you value your life-time?

    and keeping you from finding a better (for you) partner for that domain
    as you think its SOLD

    and it may be a cashflow problem for some

    and some may use paypal
    evetually face a refund

    some may give the domain away upfront
    w/o payment

    but actually no problem
     
  17. frank-germany

    frank-germany domainer since 2001 / musician Gold Account VIP

    Posts:
    7,250
    Likes Received:
    9,005
    .. and did I mention
    I have agreed to an escrow deal

    I have no clue how to get rid of that

    will I have to pay the escrow fees?
    --- if he simply doesn't pay and disappears

    - he has not reacted to any PM since jan 31 5:22pm

    and my time to talk to him
    how escrow works
    and so on

    no problem?

    he was asking for other of my domains to buy from
    in that process

    so he tries to lock as many domains as he can
    talking to at least 10 other sales threads here
    and placing offers


    no problem.
     
  18. daj

    daj Top Member VIP ★★★★★★★★★★

    Posts:
    1,435
    Likes Received:
    418
    This is the 5th or 6th warning thread I've read in the past 24 hours on NamePros. Why are some domainers being so problematic as of late?
     
  19. hullswingerscom

    hullswingerscom Top Member VIP ★★★★★★★★★★

    Posts:
    4,672
    Likes Received:
    1,326
  20. Acroplex

    Acroplex Top Member DomainGang.com PRO VIP ★★★★★★★★★★

    Posts:
    3,991
    Likes Received:
    1,730
    "Chinese domain investor" is a euphemism for lowballing renegging scammer. I will share my own experience soon.

    Regarding Escrow.com transactions, contact Support to explain what happened. These front-selling bastards need to be banned from all venues.
     
  21. iowadawg

    iowadawg WHO CARES? VIP ★★★★★★★★★★

    Posts:
    32,016
    Likes Received:
    87,925
    Domainers with problems.
    That they think is unique to domains.
    But the problems are not.
     
  22. Dominic Belley

    Dominic Belley Four Letter Acronyms VIP

    Posts:
    2,726
    Likes Received:
    2,606
    That happened to me a few times in the past.

    I contacted Escrow by email asking to cancel a transaction, with all the necessary transaction # and other information.
    If no payment has been made, they will instantly cancel the transaction. No fees to pay for nobody.
     
  23. DU

    DU Secret Santa VIP ★★★★★★★★★★

    Posts:
    12,638
    Likes Received:
    19,293
    Did you ever think to read the terms of the service you were using? The answers are likely to be there. At escrow.com, for example, you can cancel as long as they haven't received funds (but don't do it too soon or you'll be getting your very own warning thread here these days). If the funds are received you've sold the name so ...?

    As a rule with cashflow spending on a non-settled basis is a financial risk. With exceptions, you shouldn't do it unless you have some capital you can leverage in emergencies. I'm not sure what the warning is here - that some people don't pay in a timely fashion?
     
  24. Joe Styler

    Joe Styler Aftermarket Product Manager GoDaddy Staff Afternic Staff PRO VIP

    Posts:
    1,963
    Likes Received:
    3,741
    Oh we will! And thanks for bringing this up. I was wondering if it was happening. If you use our auctions you have a time period where payment must be made and you can contact support for help if the buyer doesn't pay in time. If you are using another venue like NamePros I would also put in a time limit on the price you offer. It is a good habit to get into on any sale.
     
  25. DU

    DU Secret Santa VIP ★★★★★★★★★★

    Posts:
    12,638
    Likes Received:
    19,293
    I would say it's not really a good habit but something that is required :) But please keep hammering that point home until people get it.

    It solves most of the "warning" posts and questions of morals/ethics because it's a defining parameter. Every transaction should have an understanding of a Price, a Time, a Method, and a Confirmation/Close at minimum. The stuff GoDaddy / Escrow.com / Sedo has by default (some better than others).
     

Want to reply or ask your own question?

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