godaddy buy/sell service - STAY AWAY

[stuff]

Ok

Recived offer for one domain on 25 sept 2009
agreed to sell for $1299 on 29.sept 2009

transfer to GoDaddy was completed on latest 5 oct 2009
client got the domain same time or a few days later.

on 06.oct 2009 I had respnonse from domainbuy@godaddy.com
"
The funds for this domain name are scheduled to be released to you on 10/20. Please keep in mind it may take a few additional days for your account to reflect the deposit of these funds."


So today its 31.oct 2009 - still nothing. Have sent two emails to them, no response.

They are a ****ing joke - stay away.
I never used them before and will never use again.

Thanks

[DomainsInc]

you'll get paid but you are right in that they do not keep the payout schedule the claim.

[stuff]

got paid today 16. nov 2009.
So never again.

[westcoaster]

I sold a .com name there for a $197 in the premium section. Phone call says it will be 20 days and in my account. 30 days go by so I phone. Well says the guy, "you sold a premium domain not an auction domain" so it's 45 days. And adds "45 days from the beginning of the month following the month of the sale". LOL
Lucky I am not needing that money to live on. So in theory a premium domain name can take about 75 days to pay. Best case scenario is like 46 days. I find that a bit of time to pay up since the domain is moved immediately upon the sale. I'll just wait, and when it does come I'll have money for that new rocking chair

[Acro]

Too funny

[westcoaster]

even more fun is receiving an email after I emailed them as the whereto is my money the responded with a cute email that goes

" Our support staff has responded to your request, details of which are described below:

Discussion Notes

Support Staff Response

That domain was listed in an auction that was cancelled. It appears you may have transferred the domain to another party but not within the safety of our auction environment. You need to contact that party directly and get your money as there was never a bid through the auction at GoDaddy before you cancelled it XXXX.xx Godaddy Sooooooo let's see I sell a domain name through the Premium Listing. I get an email congratulating me. My money is nowhere to be found, the response from GD is that silly me transferred a domain to I don't know who . LOL Too funny. Ok Let;s check the whois since the domain is no longer in my godaddy account. Registrant: Domains by Proxy, Inc. Registered through: GoDaddy.com, Inc. (http://www.godaddy.com) Domain Name: CANADAAFFILIATEPROGRAM.COM Well that's not a lot of help. This is a lot of work to get paid for the sale of a domain name. Now I know why I work full time... I get paid. OK email sent back to GD showing them that the domain was sold by them and copied my overwhelmingly exciting congratulatory letter.

[Onward]

Wow man. GoDaddy sucks for sales... they take 30 % and they pay 45 days later. That is the bottom line. I had a sale of xxxx with them and the buyer got the name the next day and I did not get paid for 50 days. It was frustrating, and I did not fully realize that they were taking 30% - but whatever.

[westcoaster]

Today I have received an email stating my check will be arriving by the 15th of June. We will see.

[CamMK27]

I have come to the conclusion that you are better of setting up a sales page for whatever domain
you are looking to sell. It will be much faster to get paid and also you will save the 30% commission
that they take out from the sale. Thanks for sharing. I have listed many domains with them as premiums
and now this exp from you guys makes me think and decide otherwise. It is not worth to sell domains through
them..

Anyone knows what is the procedure to sell domains through Afternic? Please pm me info if you don't mind..

Thanks

[domaingeneration]

If you want to sell a domain for 4 figure at GoDaddy, I'd suggest you list it for sale
through Afternic's Expanded Promotion. It'd appear at Godaddy and many others.

There's a 20% commission, however, you'll sell more quickly and receive your
payment from Afternic in just a few days (after the payment is cleared and the
domain is pushed/transferred).

Holding the payment to seller for 30-60 days or more is not reasonable. Godaddy
is taking advantage of little guys like us.

Good luck,
BuyDomainX.com

[westcoaster]

To be fair to GoDaddy they did make the sale. Yes they charge 30%, yes they take forever to pay, yes their support was a bit weak BUT they did make the sale. I don't think it's as easy as just putting up a website with your domains for sale. For the most part your site that has your domain names may never be found by those seeking to purchase domains. You stand a better chance being found by your WHOis. Godaddy has the system in place and the resources to have a good number of people looking and shopping on their site.

I have domains on Afternic and have not had any sales from them. That is my personal experience and I know others have sold on Afternic. My theory is the more places you have your domains listed the better the chance of making a sale - even if the company has its quirks.

[Onward]

I'm not certain, but I believe what was being said was that on afternic you can get the same premium exposure on GoDaddy, but for 20% instead of 30% If this is the case...then there is zero reason to use the service through godaddy....that would have saved me a couple hundred on my last sale...

One thing that is really weird though is that I received a check in the mail the other day and I did not even know the domain had sold on godaddy...come to find out that the name sold a month and a half ago...kind of scared me as I was not as aware of my portfolio as I thought I was. I double checked and did not have a record of receiving notification from godaddy...It was a nice surprise, but a little scary.

[pen]

AfterNic lists your names on Go Daddy Auctions, not on the domain lookup like Premium Listings do.

If you list your name on Go Daddy Auctions yourself it's a 5% or 7% commission, so perhaps the afternic 20% isn't as great a deal as it seems?

[Onward]

Pen, That sounds right....but afternic also has a more advanced premium listing for any names regged with Netsol...I am not sure if those names appear on the GoDaddy premium listings or not.

[westcoaster]

MY GoDaddy cheque arrived today 11 days ahead of the June 15th that they said and only 40 days after the sale.

[Onward]

Well. I had a premium sale on June 1st and they are now telling me that I will not get paid until August 15th...that is 75 days for anyone counting. My GoDaddy account rep tells me that the check goes out 45 days from the end of the month in which the name was sold....and there is nothing he can do about it. The thing that really stings is that the same day of the sale I received an e-mail offer of 3x the amount I had the domain listed on Go daddy for. When I told the guy the name had already sold that day he doubled his offer...it was painful for me.

Summary:
Domain sells for on godaddy premium service Jun 1st
Domain is immediately in the account of the buyer
Godaddy keep 30% of sale price
All remainder of Domain proceeds are immediately in Godaddy's bank account
I get paid 75 days later (Unless they decide to wait another 45 days).

Spoke with another account rep earlier(not my designated one as he was not in yet) and he told me Godaddy had to keep the $$$$ that long due to fraud....then I asked what the 60 day registrar hold was for....after the long silent pause...he said "AHHH yeah, well I don't make the rules"

I guess that is it for Godaddy's "premium" service for me.

[RTM.net]

Wow, incredible stories. I guess it wasn't that bad when I had to wait 3 or so weeks to get the money from a sedo sale (to an end-user in France)...

I can't help but wonder if these "security" delays (especially at GD, judging from the above 30-40 day stories) are not so much about fraud prevention, but to make a bit extra coin for themselves, earning interest on funds in escrow .... :/

Rob

[randomo]

I've sold two domains through that GoDaddy service, for high $xxx each (far above what I probably could have sold them for privately, _if_ I could have found a buyer). Payment for the first one took almost 60 days; payment for the second is due next month.

Waiting for the money is a drag, but as long as they can bring in high $xxx for domains that cost me low $xx, I guess I'll stick with them.

[Onward]

Yeah. It is nice to get a sale here and there...but to get kicked in the teeth through the process? Really unnecessary and arrogant.

[Dale Hubbard]

It's called 'leveraging in the overnight money markets' and is a piss-take for the seller, and very profitable for GD.