Social.org Auction Back on NameJet | DomainInvesting.com

Social.org Auction Back on NameJet

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In March, Social.org sold for well over $200,000 on NameJet. Unfortunately for the seller and NameJet, the winning bidder failed to pay, and his account was suspended. I didn’t receive confirmation, but it would seem that the underbidders did not opt to move forward at their high bids either.

NameJet has re-scheduled the auction for Social.org, and the current high bid is $7,501. There are almost 350 bidders involved in the auction, many of whom presumably didn’t delete the name from their backorders and were re-entered after the first auction closed. The name will go to auction in a little over 16 days from today.

The lost sale is a bummer for a number of reasons, but one of the biggest issues is that there was considerable publicity for the auction, and the second time around will probably see much less coverage. It’s too bad the owner couldn’t (or didn’t) go after the person who placed the winning bid. Perhaps he could go after him legally if the second auction ends at a lower price than the first auction.

Hopefully there will be a better bidder verification system in place for this auction.


About The Author: Elliot Silver is an Internet entrepreneur and his company earns revenue from domain names. Elliot is President of Top Notch Domains, LLC, a company that has sold seven figures worth of domain names in the last five years. Elliot is the publisher of DomainInvesting.com. Read this blog's disclaimer for information about the publisher, comment policy, disclosures, and conflicts.

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Comments (6)

    Josh

    “I didn’t receive confirmation, but it would seem that the underbidders did not opt to move forward at their high bids either.”

    I do not find the winning bid not paying all that odd, it happens. At this level of pricing though for the following bidders to not have had “real” interest either it makes you wonder. We are either looking at a system which is A)Down right shady B)The seller had multiple fake bids going or C)It is simply a case where several bidders who lost had no desire to buy the name after the fact for REAL!

    Now maybe it is just me but I generally do not throw around 6 figure offers or bids unless I REALLY want the name.

    July 1st, 2012 at 11:46 am

    Anthony

    If the second auction result means my prediction, in your competition, was closest to the final winning price I will sue you in court Elliot for my prize.

    Just saying ;-)

    July 1st, 2012 at 12:47 pm

    Elliot Silver

    LOL… That offer was valid for the one auction, regardless of the outcome. :-)

    My brother (http://www.SHS.com) will defend me for free and counter sue you for something :)

    July 1st, 2012 at 12:51 pm

    Anthony

    Only the brother of a domainer could have a 3 letter .com as a CV. Quality.

    July 1st, 2012 at 12:57 pm

    Elliot Silver

    @ Anthony

    Yep… I bought it from a pharmaceutical company and it was mucho dinero.

    July 1st, 2012 at 1:04 pm

    sharon

    why would anyone pay that much for such domain? I guess it’s a social bubble (

    July 16th, 2012 at 11:43 am

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