Warning

[frank-germany]

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

 

[ZapNano]

Yeah. It's not the same. Just stating that the opposite could happen. Buyer paid and totally forget his purchase. Lol

I doubt about it. He paid; I don't think he forgot his purchased. He might just don't have the time to do the transfering and such. People has many things to do.
Just like me, I don't do transfering right away. As long as I paid the item, then it's mine. And I wil take my time to whatever with my purshased.

 

[marsi]

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.

Hello Joe,
I'm sorry to say this; but twice in the last 6 month that 2 Auction Sellers didn't honor pushing the domains after I as a buyer won/made the payment. In both cases; Sellers were able to 1- Relist the domain on auction on GD; Again! 2- Seller was able to transfer/sell the domain to another user! Right under GD Auction Dept. watch.

I'm happy to say that 95% of all my transactions went flawlessly; and I got refunded for the 2 cases above. However; It's regrettable to say that GD Auction Dept. is unable/unwilling to deliver on 'Transaction Assured Auctions" and it lacks any control over the domain after auction close, and it leaves it all to the Seller to honor the sale or walk away.

Best regards,

 

[Joe Styler]

Thanks Marsi. There are some changes coming this year to make that less of an issue. What I have been seeing happen with the CHIPs especially is that some names are changing hands so quickly they are not being updated in real time and with a delay of a day or two there is a potential impact. Let me give you a scenario:

Domain Investor A has a domain FDGH.com and lists it for $1600 on GoDaddy, Domain Name Sales, Sedo, Flippa, etc etc, and of course direct Whois inquiries. Well the name is undervalued so multiple people spot it. Someone buys the domain name at Sedo and the domain isn't moved to the new buyer yet, Buyer B. Buyer C buys the domain name at GoDaddy. Pays us and the name is already moving to Buyer B at Sedo. There is probably also a Buyer D, E, and F at other places that the name is listed

Buyer C contacts us and says, I didn't get the domain. We follow up and find out Domain Investor A no longer has control over the domain. We take action against them, normally banning, fining and canceling their listings. Once Investor A's listing for this CHIP is cancelled and he is banned that opens the ability for another person to list the same domain, Buyer B who got the name via Sedo. So a couple days later that name is for sale for say $2,200 from Buyer B. What it looks like is Investor A didn't want to sell you the name for $1,600. We cancelled the sale and then BOOM Investor A re-lists the name for $600 more. But it is actually Buyer B.

It doesn't have to be a CHIP, there are many customers looking for undervalued domains and when they find one there are typically multiple buyers, those buyers on undervalued names want to re-sell it at the higher value so they re-list it after buying it. CHIPs have just made this demand for the same types of names more focused. It may make us look bad, but in the end we want a fair marketplace for everyone and if someone does not deliver a domain name we take action against them. We also do our very best to verify the ownership of the domains before they are listed, as you will know if you ever tried listing a name with different Whois info than whats on your account

At the end of the day we have a more streamlined solution to help with this that also makes the marketplace even easier and better for everyone, but I can't let our competition know what is in the works so stay tuned for later this year, and thanks for bringing this up.

 

[MisterSoft.com]

Yeah. It's not the same. Just stating that the opposite could happen. Buyer paid and totally forget his purchase. Lol

Maybe something bad happened to the buyer. Few things that are beyond our control. Let's hope everything is ok.
Peace!

 

[NameOmnia]

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.

I would suggest that if the buyer does not pay within the time frame the domain is "unlocked" from that transaction and allowed to be re listed. The process should be automatic.
Last time that one didn't pay for my name I had to write to support and they told me the transaction would be cancelled in 21 days!
So basically for the owner equals no money and no domain to relist or sell anywhere for 21 days...

The one thing Go Daddy can do is to make the auction platform more transparent AND release the name and contact details of deadbeat buyers to the seller without requiring a lawyer/legal system.

Lately, I have been having difficulties lately with malicious/revenge bidders (I believe from this very forum), and it would be helpful to know who they are.

It's time that this industry take a stand against deadbeat buyers AND sellers, and the only way we can do this is to name and shame these idiots.

+1

I'm not saying you and others who are warning others are being problematic. It just seems there's more questionable domainers as of late who don't want to handle business matters properly.

I think you are right. There are more "domainers" ( is it even the right definition? ) that come from high scam risk countries ( no racism, statistics. Even affiliate platforms do not accept websites from those countries ) and it is reflecting more and more in the transactions we make.
On NP I only deal with high reputable members as there is no protection for either buyers or sellers.

A few weeks back I got into a tangle here on Namepros with someone who was obviously scamming. I left a negative feedback in his trade rating (he had zero ratings so far) as a warning to the good folks in this forum, but then he turned around and left a negative feedback in my trade rating! I complained to management here and they took off both ratings and told me that since the transaction hadn't been completed, no one should have left a negative rating.

I guess we need a better warning system on Namepros, so we can look out for each other.

Agreed : we need a better warning system but most of all preventing new members with 0 feedback who joined the day before to place bids, sell etc.

Favorite words on this forum:

Get over it

and​

Move On​

You forgot


Man Up

As a side note I always find interesting and entertaining that those who use NP as a social media more than a business platform and haven't concluded any transaction in years are the ones who say domainers ( who actually do business on the forum ) whinge and complain,
Hhhhmmm...

 

[frank-germany]

today I nearly forgot to complain about something ...)

 

[Acroplex]

My own experience, posted earlier.

 

[xjokker]

Good thread, I had the same situation happen to me on another platform, it was really weird because it was a single domain. I sold that thing three times...lol! The last time, I asked the admin to step in after the third day of no payment, and it being the third time it happened. 1 week later, they paid, but they haven't contacted me for the push, even after I have tried contacting them.

 

[iAchilles]

@Joe Styler

Few suggestions for the planned changes I'd love to see.

More exposure for private auctions. Expiring auctions get all the attention

30 day period which a buyer can make payment, this is very excessive imo. Right now I suspect someone is employing the same tactics on 10 names I pushed to auction a while back. 12 days on still no payment. I know I can cancel after 15 days, but over two weeks to make payment is still too long imo. 1 week or 10 days would be better imo.

 

[NameOmnia]

@Joe Styler

Few suggestions for the planned changes I'd love to see.

More exposure for private auctions. Expiring auctions get all the attention

30 day period which a buyer can make payment, this is very excessive imo. Right now I suspect someone is employing the same tactics on 10 names I pushed to auction a while back. 12 days on still no payment. I know I can cancel after 15 days, but over two weeks to make payment is still too long imo. 1 week or 10 days would be better imo.

I thought buyer had 5 days to pay...ugh..how did I get so wrong???

 

[Ms Domainer]

I thought buyer had 5 days to pay...ugh..how did I get so wrong???

Nope. The sale is in force for 30 days, although one can request a cancellation after 15 days.

My experience: if the buyer doesn't pay within 5 days, he/she isn't going to pay at all.

 

[NameOmnia]

Nope. The sale is in force for 30 days, although one can request a cancellation after 15 days.

My experience: if the buyer doesn't pay within 5 days, he/she isn't going to pay at all.

Agreed. In my case with the non paying buyer I think I was able to cancel the sale before the 15 day period via support.

 

[iAchilles]

15 days, no ifs or buts is what i was told.

 

[TSB]

This is great to aware..

 

[NameOmnia]

15 days, no ifs or buts is what i was told.

pfft..not happy at all. Especially considering the increasing number of non paying people.

 

[Ms Domainer]

#Joe Styler

I like the idea of requiring "earnest money," say 10% or $50.00 (whichever is greater), at the time of the bid. This could also be just a flat fee deposit (given that auction prices can change).

The buyer would then pay the rest (90%) within 10 days, and the "earnest money" would then be applied to the sale. Thus, the buyer would not be paying anything extra, just an up-front fee to show the seriousness of the bid.

The buyer would only lose the earnest money if she/he failed to fulfill the contractual obligation.

Honest buyers shouldn't mind, but it would cut back on the front runners and malicious bidders.

Heck, when we buy expired domains, we pay everything in advance and often have to wait days for a refund when a registrant renews.

 

[DU]

#Joe Styler

I like the idea of requiring "earnest money," say 10% or $50.00 (whichever is greater), at the time of the bid. This could also be just a flat fee deposit (given that auction prices can change).

The buyer would then pay the rest (90%) within 10 days, and the "earnest money" would then be applied to the sale. Thus, the buyer would not be paying anything extra, just an up-front fee to show the seriousness of the bid.

The buyer would only lose the earnest money if she/he failed to fulfill the contractual obligation.

Honest buyers shouldn't mind, but it would cut back on the front runners and malicious bidders.

Heck, when we buy expired domains, we pay everything in advance and often have to wait days for a refund when a registrant renews.

This is something other sites do and it's not a bad practice and I agree.

They should also warn, ban accounts that don't clean up after themselves when they sell/drop a name. A listing on a name by a GoDaddy account should be verified against the GoDaddy account that holds the name. That would allow the removal of a great number of listings that are orphaned.

For some reason many domainers love to hear stories when people BIN a name that is unregistered and the seller grabs it and makes a quick unearned profit. Seems domainers are a fickle bunch when it comes to profiteering.

 

[London555]

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

That's why-just as we do with our real estate-you get a non refundable deposit or there's no agreement. If they wont put it up-let them walk.

 

[Fancy.domains]

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?

Any business involving money will unfortunately (sooner or later) attract thugs.

The chips (and short .COMs in general) are so easy to monetize, so many of these thugs are trying to make a fast buck here. I see these scams or semi-scams all the time too.

 

[Apprich]

There is definitely need for shorter time for payment in all platforms. Namepros, Sedo, Godaddy, Escrow..
3-4 days should be maximum, as Chinese market moves fast. It's not acceptable to wait for 1 week or longer.