Toxic.com which was auctioned off by NameJet.com on May 4th with a high bid of $56,566, is back at auction at NameJet.com after the bidder failed to pay for the domain.
The domain now is in a public auction, so even if you couldn’t participate in the first auction because you did not backorder it, now you can.
The current high bid is $34,677.
Namejet.com continues to see a bunch of unpaid domains coming back into auction, not just the large transaction domains but domains that sold for $79 even have come back in auction after the buyer defaulted.
We were notified this week that we had been entered into a public auction for the domain buildingyourwealth.com after the previous winning bidder couldn’t or simply chose not to come up with payment for his winning bid of $79.
Right now Namejet.com seems to be operating as a “free” bidding system; pay if you want or don’t.
If you want to bid on a domain, bid away, if you don’t pay for it, nothing happens to you. If you change your mind after the auction closes and don’t want the domain no problem, don’t pay for it.
Another high priced domain, Latham.com which sold for $30,300 on around April 25th went back to auction this week and sold for mere $11,100.
There are plenty of more example I can bore you with, I have one guy who writes me almost daily with domains that have not been paid for at Namejet.com, however there is no doubt that there are a lot of domains getting bids, but not getting paid for at Namejet.com
Unfortunately not paying for a domain does not stop you from bidding up other domains at the same time on auction at Namejet.com
We called for reforms to the Namejet.com platform back in March, however to date, no change of policy has been announced.
I’m sure all domainers would like to see a new system in place to protect the integrity of the auctions, especially since they seem to be auctioning off non-expring domains, like toxic.com