Deadbeat auctions on NameJet

[actnow]

I speculate only a small percentage (under 2-3%) default.

More I thought about, the percentage is much lower.
Under 1%



It appears to happen most often on the higher profile domains.
Plus, when it reaches a certain dollar figure.




(add'l post)

Here are some clear examples of where the losing bidders retracted their bids.
And, Namejet had to start from a much lower pricepoint.



blueplaque.com Private Pre-Release $2,367 2/22/2009
blueplaque.com Public Pre-Release $79 3/2/2009

green-hybrid.com Private Pre-Release $2,499 2/17/2009
green-hybrid.com Public Pre-Release $81 2/27/2009

instantcheck.com Private Pre-Release $3,600 12/3/2008
instantcheck.com Public Pre-Release $1,100 12/27/2008

 

[Theo]

On 5/3/2009, keywest.net ends up being sold for $4,290

Bidder #2 was a previous deadbeat winner, bigfish!
Why was he allowed to bid again?

domain: keywest.net
winner: bigfish
price: $14,100
date: 1/23/2009

 

[katherine]

Since we have a NJ rep on board I would really like to hear what they have to say.

 

[valeria]

Acro, it should be not surprise that all such companies use a fake bidders to get as much money out of names as they can. In this case I suppose they were not able to secure the legit bid, and their fake account won. After that they made a stupid thing to use the same account to bid on it again to make the price higher = more profit.

If you will pay attention on snapnames and namejet bidders, you will notice many similar behavior happens there everyday.

On 5/3/2009, keywest.net ends up being sold for $4,290

Bidder #2 was a previous deadbeat winner, bigfish!
Why was he allowed to bid again?

 

[Theo]

I am not saying NameJet is using fake bidders - to that I have no proof. But with the appearance of non-paying bidders in consequent auctions (e.g. bigfish) it's clear that some bidders receive clearance for extraordinary reasons. When you have bigfish not pay $14 G's for a domain and he's later back into re-auction #3 (or #4?) for the same domain, something tells me he can do whatever he wants.

 

[Developper]

Does anyone knows this "homer" at NJ? Is he here?

 

[Theo]

Sorry I haven't updated in a while - I haven't been at NJ recently.

 

[britishbulldog]

Snapnames auctions do it like this, and also have the courtesy to ask the second top winner whether he wants to take the name or not.
I've got some nice surprises in the past to get names at a lower price.

On the other hand, I got billed by Namejet for names which I thought I've lost and forgotten about already.

Since when,they have only reauctioned the domain with me.........

 

[keyser]

But with the appearance of non-paying bidders in consequent auctions (e.g. bigfish) it's clear that some bidders receive clearance for extraordinary reasons.

Highest bidder finally paid, surprisingly few minutes after several posts here, DS...

 

[denny007]

BTW I know about one MAJOR domain which could have sold for much more if the second bidder would not think the first bidder is dead-beat. I am talking tens of thousands of different here...

So Namejet might think how smart they are but this cost them more money then it brings, imho. Whenever is public reauction and I am leading I ask them to take my bid down and I do not bother to bid anymore.

 

[exponent]

There are a lot of bidders with deep pockets on NameJet. Personally, I think the system is rigged or, at the very least, is easily manipulated. One domain in particular that I was watching should have gone $x,xxx easy. NameJet ended the auction early, declaring one of the "regulars" the winner at $410. I say the auction was manipulated because:

1.) There was 16m 40s left in the auction when I checked.
2.) I walked approximately 30 feet to my refrigerator and procured a Coke.
3.) In the 60 to 90 seconds it took me to complete this task, the auction had ended.

Unless I've just proved Quantum Tunneling and the existence of a non-collapsing Einstein-Rosen Bridge, this auction was ended early. Additionally, it shows up as having a proper time stamp, as if it had closed on time.

I've never had any issues with NameJet prior to this. I could be some kind of weird glitch on my side, but I doubt it. I would hate to think that its being manipulated or has insiders "helping" others win. I guess only time will tell.

 

[exxe]

domain: body-building.com
winner: murdoch
price: $21,800
date: Mar. 25, 2009

domain: funshit.com
winner: 000
price: $2,000
date: Apr. 2, 2009

 

[britishbulldog]

There are a lot of bidders with deep pockets on NameJet. Personally, I think the system is rigged or, at the very least, is easily manipulated. One domain in particular that I was watching should have gone $x,xxx easy. NameJet ended the auction early, declaring one of the "regulars" the winner at $410. I say the auction was manipulated because:

1.) There was 16m 40s left in the auction when I checked.
2.) I walked approximately 30 feet to my refrigerator and procured a Coke.
3.) In the 60 to 90 seconds it took me to complete this task, the auction had ended.

Unless I've just proved Quantum Tunneling and the existence of a non-collapsing Einstein-Rosen Bridge, this auction was ended early. Additionally, it shows up as having a proper time stamp, as if it had closed on time.

I've never had any issues with NameJet prior to this. I could be some kind of weird glitch on my side, but I doubt it. I would hate to think that its being manipulated or has insiders "helping" others win. I guess only time will tell.

Well i agree than buying a domain on namejet seems to cost an awfully lot more than anywhere else i think i have won 2 typos out of 100 auctions

 

[TheLegendaryJP]

I would rank buying generics from these drops as a TOP bad business practice. As said they are grossly over priced or the bidding is highly suspicious.

 

[exponent]

domain: webdns.com
price: $5,099
date: 4/29/2009

Currently up for auction again. The bids are as follows:

$3,283 outbidder
$3,183 ionut
$1,001 crazyman
$302 speedyg
$301 alindh
$300 123qwe
$71 reincarnation

 

[tetrapak]

Whenever is public reauction and I am leading I ask them to take my bid down and I do not bother to bid anymore.

Same here, except when I'm late to realize what has happened!

 

[james2002]

Bidders could make mistakes in namejet. I once was bidding for a domain at namejet and when I tried to enter the bid amount, I wrongly choose xxxx instead of xxx as in the drop down menu all numbers entered previously showed up. I had to cancel my bid via support ticket.

I think some of them (non-payers) might have made similar mistakes. But if they are doing this repeatively, it is not right. I think once in a while could be due to simple mistakes.

 

[exxe]

Does anyone know a domain that has been actually payed by Homer?

 

[denny007]

Bidders could make mistakes in namejet. I once was bidding for a domain at namejet and when I tried to enter the bid amount, I wrongly choose xxxx instead of xxx as in the drop down menu all numbers entered previously showed up. I had to cancel my bid via support ticket.

I once did same except they told "sorry can't do nothing about it you gotta pay"

 

[contact]

Does anyone knows this "homer" at NJ? Is he here?

"homer" and "bartsimpson" NameJet usernames are owned by Lon Borck of Bookmarks.com and have been cited in numerous NameJet Deadbeat auctions.

Lon Borck is profiled here:

http://www.elliotsblog.com/index.php/5-with-lonnie-borck-founder-netrocket/
http://www.dnjournal.com/archive/lowdown/2008/may.htm

NameJet refuses to shut down his accounts which raises the suspicion that he is secretly working for them.