Being Bidder #2 on Snapnames | DomainInvesting.com

Being Bidder #2 on Snapnames

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SnapNamesLogoA few days ago, I was searching through Snapnames auctions for domain names with bids. I frequently do this to see if there are any names I happen to like that already have bids. I don’t use any software or tools to look through all of the expiring/dropping names, so this is an easy way to see what others have interest in buying.

Two domain names that had one bid each caught my eye. One was a singular version and the other was the plural of the other name. I placed a bid on the singular version a couple of days before it was set to drop, meaning the name would go into a private auction with all of those who placed a back order.

Since I was the second bidder, I figured I wouldn’t be the high bidder and would have the option to bid on it or allow the first bidder to get it at the minimum bid. I was surprised when I received the email informing me that the name went to auction, and I was the high bidder.

After a couple of phone calls with Snapnames, I learned that what happened was the original bidder placed his bid two or three years ago, and when the name dropped, he was entered into the auction. However, because his credit card had expired by the time the name dropped, Snapnames suspended his account, and as a result, I was moved into the leading bidder position.

With the events that transpired recently, I was concerned that this was another similar type of issue, but was relieved to learn it was not. This is something to be mindful of when you place a back order, just in case it’s not a name you are completed interested in buying.


About The Author: Elliot Silver is an Internet entrepreneur and publisher of DomainInvesting.com. Elliot is also the founder and President of Top Notch Domains, LLC, a company that has sold seven figures worth of domain names in the last five years. Please read the DomainInvesting.com Terms of Use page for additional information about the publisher, website comment policy, disclosures, and conflicts of interest.


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Comments (8)

    Rob Sequin

    Too bad that you even have to ask yourself… and Snapnames this kind of question but Snap’s credibility is in the toilet (with me anyway) since they won’t comment on Brady’s activities, who knew what and when or their General Manager’s former CEO job at iReit while the company bought domains from Brady.

    I have questioned them about an underbidder in a recent auction. Hate to do it but their silence is death to their credibility in my opinion.

    Sorry Snap. Love you guys since you first started catching drops but you’ve done nothing to gain your credibility back from the Halvarez announcement.

    November 29th, 2009 at 11:05 pm

    Elliot

    @ Rob

    Did you reach out to Craig Snyder via phone or email to ask?

    November 29th, 2009 at 11:06 pm

    rob sequin

    No, I have not called him but sent him a couple paragraphs of text (comments and questions) via “Rob at Oversee” at Donna’s board and I sent in a support ticket to snap with similar comments and questions.

    No reply from support at Snapnames.

    Rob from Oversee said he sent me a PM with Craig’s phone number but it is not in my in box there. I believe I replied to him and said that I did not get the PM.

    I just posted on Donna’s board as a reply to Rob from Oversee that I don’t want to have a phone conversation with Mr. Snyder. (I still do not have Mr. Snyder’s phone number at this time anyway)

    I don’t want to have a phone conversation with him because I don’t want to know any private information. If he tells me anything and expects me to keep it confidential, I would not feel comfortable with any information like that and it wouldn’t be fair to me, him or the domain community.

    He needs to make a public statement… in my opinion.

    You and I and I’m sure many others in our industry have to question many things now at Snapnames due to their prolonged silence.

    The CEO/GM of Snap or Oversee is responsible for gaining back our trust… again, in my opinion.

    Do they think this foundation shaking fraud and damage to their credibility will just blow over if they keep quiet long enough?

    Sorry to take up more space here with this issue but apparently you are questioning their credibility too since you said “I was concerned that this was another similar type of issue”.

    I want Snapnames to reassure us that the Brady issue is completely resolved and that it can NEVER happen again. At this time it could be happening right now with a secret accomplice inside Snapnames. I doubt this is the case but until they say SOMETHING in public, we all just have to wonder.

    November 29th, 2009 at 11:23 pm

    rob sequin

    Correction…

    Sorry, Rob from Oversee did PM me with Mr. Snyder’s cell phone number many days ago.

    I did not call it and do not plan to call it for the reason stated above.

    November 29th, 2009 at 11:25 pm

    Leonard Britt

    While perhaps not the case here, another thing which can happen is that the original bid is from a seller who uses the backorder to attract attention to the domain. Then at the last minute they remove their bid to assure a sale. This can also happen at Namejet for Netsol-listed domains (and once happened to me).

    November 30th, 2009 at 12:04 am

    owen frager

    Oversee CEO Jeff Kupietzky will be meeting with a select group of domainers in Florida on Tuesday evening including bloggers Chef Patrick, Mike Berkens and I. I’m sure there will be some news on Wednesday.

    November 30th, 2009 at 12:06 am

    robsequin.com

    “Jeff Kupietzky will be meeting with a select group of domainers”

    Great. Is this a private meeting or a sponsored event of some sort?

    November 30th, 2009 at 8:13 am

    Pierluigi Buccioli

    “another thing which can happen is that the original bid is from a seller who uses the backorder to attract attention to the domain. Then at the last minute they remove their bid to assure a sale”

    In that case the name should be awarded to the only bidder, not go to auction…

    November 30th, 2009 at 12:52 pm

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