GoDaddy deducted around 39% from auction sale. Am I missing something?

[AuctionBio]

Hello folks,

I had never got success for GoDaddy auctions for domain sales before, but I recently decided to give it another shot. I listed a domain with an initial bid of $299, and to my satisfaction, it was successfully sold.

After doing the calculations and factoring in the commission, I was anticipating a payout of approximately $239. However, I received only about $182 from GoDaddy, which was way lower than expected. The email notification I received from them stated:
"Today, we sent you a payment of PKR 54,843.98 via eCheck."
which clearly shows that they themselves send this amount and there is no cut under receiving bank or intermediator bank.

Upon converting this amount to USD, it equated to around $182.
I've though taken the initiative to reach out to their support via email to inquire about the discrepancy.

I'm seeking guidance from anyone who might provide a satisfactory calculation if I've overlooked something, as the deduction of approximately 39% from the actual sale price is quite significant.

Thanks and regards

 

[alcy]

things like exchange rates come to mind..and I think there is wire fee from gd of 20usd or so.

 

[zomainhacks]

Currency conversion fees can be the reason

 

[Randy93]

If I understand right, there are the many commissions involved
- Godaddy commission
- wire transfer fee if any
- currency conversion fee
- low currency conversion rate for example if google says 1 USD = 10 XYZ bank convert 1USD = 8 XYZ it happens in all countries

 

[sircc]

Like the others mentioned, the conversion rate plus the eCheck will impact the payout. Can you open a US dollar account at your bank?

 

[NameInbox]

Hello folks,

I had never got success for GoDaddy auctions for domain sales before, but I recently decided to give it another shot. I listed a domain with an initial bid of $299, and to my satisfaction, it was successfully sold.

After doing the calculations and factoring in the commission, I was anticipating a payout of approximately $239. However, I received only about $182 from GoDaddy, which was way lower than expected. The email notification I received from them stated:
"Today, we sent you a payment of PKR 54,843.98 via eCheck."
which clearly shows that they themselves send this amount and there is no cut under receiving bank or intermediator bank.

Upon converting this amount to USD, it equated to around $182.
I've though taken the initiative to reach out to their support via email to inquire about the discrepancy.

I'm seeking guidance from anyone who might provide a satisfactory calculation if I've overlooked something, as the deduction of approximately 39% from the actual sale price is quite significant.

Thanks and regards

USE Payoneer, they have ACH, provided bank account on Your name. For future, next sales.
Have a nice weekend and life.

p.s. I'm using Alibaba. I sold my GoDaddy account with domain name 2 years ago .

 

[AuctionBio]

things like exchange rates come to mind..and I think there is wire fee from gd of 20usd or so.

I am also thinking the same but still it seems me too much, i have sent a email to godaddy and lets c what they reply.

I had good sales with Dan, couple of good sales via afternic and also had sales on brandpa including flippa as well,
but this happened to first time that on godaddy auctions they have deducted too much...

 

[AuctionBio]

USE Payoneer, they have ACH, provided bank account on Your name. For future, next sales.
Have a nice weekend and life.

p.s. I'm using Alibaba. I sold my GoDaddy account with domain name 2 years ago .

of course with godaddy next time i will use payoneer, i dont know why i did not use it this time.
but it is true their calculations are suspicious.

 

[AuctionBio]

If I understand right, there are the many commissions involved
- Godaddy commission
- wire transfer fee if any
- currency conversion fee
- low currency conversion rate for example if google says 1 USD = 10 XYZ bank convert 1USD = 8 XYZ it happens in all countries

in this day of age it hardly happens that some bank will have around 20% less rate than the actual rate. Otherwise there are many other options available.

 

[Reallybigidea.com]

I sold my GoDaddy account with domain name 2 years ago .

Thats not a bad idea

 

[Daniel Owens]

Hello folks,

I had never got success for GoDaddy auctions for domain sales before, but I recently decided to give it another shot. I listed a domain with an initial bid of $299, and to my satisfaction, it was successfully sold.

After doing the calculations and factoring in the commission, I was anticipating a payout of approximately $239. However, I received only about $182 from GoDaddy, which was way lower than expected. The email notification I received from them stated:
"Today, we sent you a payment of PKR 54,843.98 via eCheck."
which clearly shows that they themselves send this amount and there is no cut under receiving bank or intermediator bank.

Upon converting this amount to USD, it equated to around $182.
I've though taken the initiative to reach out to their support via email to inquire about the discrepancy.

I'm seeking guidance from anyone who might provide a satisfactory calculation if I've overlooked something, as the deduction of approximately 39% from the actual sale price is quite significant.

Thanks and regards

It is possible not just currency rate but I think if you don't point your domain to godaddy's landing page they take more $'s % out of the sale. Seems unfair but yeah 39% I don't think is normal. That really is bad.

 

[NameInbox]

Thats not a bad idea

Yep, but del cards before sale , personal info, so on

 

[D Haynes]

It is possible not just currency rate but I think if you don't point your domain to godaddy's landing page they take more $'s % out of the sale. Seems unfair but yeah 39% I don't think is normal. That really is bad.

This might be a possibility. Nameservers being pointed away from GD is a 25 percent fee. It sounds like the OP auctioned the name so I wonder if the same rules apply? That would be atrocious if you can auction a name and still pay 25 percent commission because of the Nameservers.

 

[alcy]

I am also thinking the same but still it seems me too much, i have sent a email to godaddy and lets c what they reply.

I had good sales with Dan, couple of good sales via afternic and also had sales on brandpa including flippa as well,
but this happened to first time that on godaddy auctions they have deducted too much...

well if it's more than before and u know all the numbers then keep at it.. mistakes happen. I got overbilled by ionos aka 1and1 some 7 times in few yrs there. things happen. maybe the more fun question is which ones are unintentional. cause I'm pretty sure not all..but that part we may never know. .gl

 

[anantj]

IIRC, there is also a $5 "service" charge for eChecks.

 

[AuctionBio]

This might be a possibility. Nameservers being pointed away from GD is a 25 percent fee. It sounds like the OP auctioned the name so I wonder if the same rules apply? That would be atrocious if you can auction a name and still pay 25 percent commission because of the Nameservers.

I had this in my mind that they might take 25% but after checking I am sure that it is 20% not 25 via auctions. but the cut amount was even way higher then this.

I am still waiting for their reply. lets c what comes from their end.

 

[alcy]

well the prob with all this is u said all prev payments u got were okay. for a moment I thought there were no others. well let us know how solves.

 

[marijuanadomain]

What missing is your hard earned money. LMAO
Anytime anything you deal with GD, money is always taken from you

That why it is called sugar daddy

 

[alcy]

What missing is your hard earned money. LMAO
Anytime anything you deal with GD, money is always taken from you

That why it is called sugar daddy

I stopped paying attention to em when they doubled their club prices. it's bad enuf when u are only place with club ... and then u double that and u become universal symbol of ripoff greed