The $10 we are asking to can sell/buy in the Cax.com marketplaces is working well at stop most of the crap.
But this week-end we had a case at BargainDomains.com where the seller sold behind the scene the name he auctioned in our marketplace.
While we cannot really say the guy is a scammer, he certainly did not act honnestly.
To prevent others members be abused by his bad practices he has been banned.
The positive side of this event is it put in light something that uses to happen each pair of months:
People who want to flip domains quickly contact everyone and list their name everywhere with the hope to make a fast sale.
The main problem is generally they have no ethic and will sell to the one who propose the biggest amount even if their name is in auction somewhere or worst, it has already been sold.
To try to reduce these cases we just shrinked to 7 days the minimum time one can list a name in the Cax.com marketplaces (PremiumDomains.com, BargainDomains.com, Catchy.com, …).
Plus the seller can now have his domains sent to 24H auctions, previously the minimum was 2 days.
I hope this will strongly refrain these bad practices.
In a side note, it’s now possible to list domains for the price you want, just have in mind domainers (our main audience) buy at reseller price:
http://www.cax.com/submit/
Have a good day and be serious!
..
6 Responses to “Cax.com launches 24H auctions”
Leave a Reply
|
January 11th, 2011 at 11:14 am
The remedial changes you made are well thought.
Regards.
January 11th, 2011 at 11:54 am
I think you decided well and firmly to ban that guy but you could place some warning advice after each submission (like a note in red). I also totally agree to list higher prices than the limitation you had. Sometimes the lower prices do not attract the real investors on domains. It´s my opinion maybe controversial.
thanks, rgds
Carlos
January 11th, 2011 at 1:29 pm
This is why I built out around a classified platform because I wasn’t sure myself how to prevent something like that.
January 11th, 2011 at 3:28 pm
Just for info, in less than one year I already have 83 persons in our banned table. So really be carrefull when you make private deals without protection, the amount of scammers or dishonnest or unhetical people is strong.
January 12th, 2011 at 12:44 am
@Francois – you are correct, the number of dishonest persons out there is staggering.
Personally, I believe there should be a domain auction black list. Something that everyone (domainers, auctioneers, buyers AND sellers) can use as a reference to see if the person they’re going to deal with is on the blacklist or not..
What does CAX.COM do to stop the flip-side… buyers who never come through? The ones who will say they will purchase my domain but never come through?
January 12th, 2011 at 8:27 am
@Mike
Many times I have also considered this public black list, but after better consideration I allways concluded it will not be a postive solution.
The $10 I started to ask few months ago to can sell/buy domains blocked most of these persons coming from nowhere that place a bid and after do not purchase, these case are now very rare.