domain Namejet Shenanigans myvision.com $74,999 BID, Reserve Range: Between $75,001 and $100,000 ?

[wwwweb]

Why would a bidder bid right under the reserve, and such a set amount, unless they are somehow related to the auction?

Bidder Amount Date
iwall $74,999 3/22/2019 4:07 PM

Who is policing this nonsense, so many times on another auction site I have seeing a domain closing at lower valuation, and all of the sudden some rogue bidder id comes in, and bids one or two more times, then the auction extends, and other bidders eventually get wind and pile on.

The aftermarkets have basically turned into a dark underground enterprise of total BS, can it really be this easy to manipulate auctions for thouands, and into the tens of thousands of dollars. Real auction houses have so many state bound rules, these guys make it like they are running a frat hour auction?

There is no point in contacting them, as they won't even respond, or address such situations. I mean if someday someone started a class action suit against some of these online auctions, what would come out with be mind blowing, a lot of refunds would likely go out.

Just a warning to be careful bidding, and don't get to caught up in some auctions if the bidding is relentless, sometimes there could possibly be more behind it.

 

[alcy]

i do not use namejet at all. just never got round to it since I domain, and now obviously I never will get around to it either.

is namejet like the worst of all markets for this kinda stuff? or does this go on elsewhere to?

do they hold some special status and answer to no one in domaining industry, that such things if true are allowed to go on, without any consequences? one must truly feel for innocent honest unsuspecting domainers who may be victims here

 

[offthehandle]

I just saw this thread, seems everybody is too busy debating Free speech vs. Epik.

Until someone files a formal complaint, this is a subject that will keep being bat around here on Namepros, at least this is a voice and glad you post this.

I posted this in the infamous thread too:

https://www.namepros.com/threads/bidding-on-your-own-names-at-namejet.1030874/page-67

Did you see this today?

https://www.namepros.com/threads/go...licy-on-insider-bidding.1129657/#post-7167603

 

[offthehandle]

https://app.leg.wa.gov/RCW/default.aspx?cite=18.11

“Auction company" means a sole proprietorship, partnership, corporation, or other legal or commercial entity that sells or offers to sell goods or real estate at auction or arranges, sponsors, or manages auctions. The term "auction company" shall exclude any sole proprietorship owned by an auctioneer licensed under this chapter whose gross annual sales do not exceed twenty-five thousand dollars.”

https://app.leg.wa.gov/RCW/default.aspx?cite=18.11.085

RCW 18.11.085
Auctioneer certificate of registration—Requirements.
Every individual, before acting as an auctioneer, shall obtain an auctioneer certificate of registration. To be licensed as an auctioneer, an individual shall meet all of the following requirements:
(1) Be at least eighteen years of age or sponsored by a licensed auctioneer.
(2) File with the department a completed application on a form prescribed by the director.
(3) Show that the proper tax registration certificate required by RCW 82.32.030 has been obtained from the department of revenue.
(4) Pay the auctioneer registration fee required under the agency rules adopted pursuant to this chapter.
(5) Except as otherwise provided under RCW 18.11.121, file with the department an auctioneer surety bond in the amount and form required by RCW 18.11.121 and the agency rules adopted pursuant to this chapter.
(6) Have no disqualifications under RCW 18.11.160 or 18.235.130.

RCW 18.11.240
Bidding—Prohibited practices—Penalty.
The following requirements shall apply to bidding at auctions:
(1) An auctioneer conducting an auction and an auction company where an auction is being held shall not bid on or offer to buy any goods or real property at the auction unless the auctioneer or the auction company discloses the name of the person on whose behalf the bid or offer is being made.
(2) An auctioneer and an auction company shall not use any method of bidding at an auction that will allow goods or real property to be purchased in an undisclosed manner on behalf of the auctioneer or auction company.
(3) At a public auction conducted or supervised by an auctioneer or auction company, the auctioneer or auction company shall not fictitiously raise any bid, knowingly permit any person to make a fictitious bid, or employ or use another person to act as a bidder or buyer.
(4) All goods or real property offered for sale at an auction shall be subject to a reserve or a confirmation from the owner or consignor unless otherwise indicated by the auctioneer or auction company. Except as provided in this subsection, an auctioneer or auction company shall not use any method of bidding at an auction that allows the auctioneer or auction company to avoid selling any property offered for sale at auction.
(5) A licensee who violates any provision of this section shall be subject to an administrative fine in a sum not exceeding five hundred dollars for each violation.

 

[offthehandle]

They are classifed publically in the Auction business.

Often people mention the Florida address, however this documents

A. Namejet is in Washington State.
B. Define themselves as an “aftermarket AUCTION company”

https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapid=39119027

NameJet, LLC, a domain name aftermarket auction company, provides premiere and aftermarket domain name services that allow domain professionals, businesses, and individuals to acquire domain names. It offers backorder domain names, pre-release domains, pending delete domains, domain auctions, private domain auctions, public domain auctions, bulk auction bidding, and bulk domain backorders. The company was incorporated in 2007 and is based in Kirkland, Washington. As of December 3, 2018, NameJet, LLC operates as a subsidiary of Web.com Group, Inc.