GoDaddy question: Is this a scam??

[Goalie35]

Two days ago, I won a domain name from an auction on GoDaddy's site.

It was a 5-character term and after doing a little research, found it to be VERY popular in search engines. In fact, I've found 2-word domain names that contain this one word going for low-mid $xx,xxx.

Here's the strange part though, the auction started at 90-days. After the first day, bids were already over $100, so I bid $150. The next day, bidding was up to $500, so I bid $550. Then, all of a sudden, the auction closed and I was announced as the winning bidder.

I mean, why would someone close their auction after only a few days, especially if they could have sold the name for AT LEAST low $xx,xxx? Can anyone foresee any types of scams that can come out of this? With GoDaddy's setup, it'll go into an escrow account for a while and the seller doesn't receive their money until the transfer is complete (as far as I know).

So do I try doing a little more investigating on this before handing over $550 or do I hurry and submit my payment before the seller has 2nd thoughts?

Thanks.

-Goalie35

 

[GoPC]

don't ask why... if you believe in the name and it's protected in excrow. ENJOY your good fortune

GoPC

 

[Ian]

first, the fact that a keyword is contained in a high paying domain doesn't mean that inclusion in another domain would translate into the same.
second, the case in point sounds strange to me. however not so obvious, there could be a potential scam. Whenever there is a bidding there is always a fixed period except in special cases when a BIN is set (auction). Just be careful with this one!

 

[BidNo]

Look at whois history for indications it might be stolen. Things like abrupt or recent change in ownership, etc. If stolen, the domain would go back to the rightful owner and you would be without domain or money.

Cheers,
BidNo

 

[scrsteven]

Very suspicious. TDNAM doesn't verify ownership of domains when listing them for sale. I once bought gas.com on tdnam for 10k, but the person was just trying to scam me, and obviously didn't own it. I would be very weary... PM me the name and I'll give you some better advice.