Non-paying bidder for eDoctor.com costs Namejet $24,629

Last week the Namejet auction for the domain name eDoctor.com that had sold for $43,310 was cancelled and a new private auction was started. The domain eDoctor.com was dropped by pharmaceutical company GlaxoSmithKline.

The winning bidder didn’t pay the winning price within the 28 days provided by Namejet after the auction ended and that costed Namejet $24,629. Why?

Because the new auction ended at $18,681. That is not even half the money of the first auction. The final price was way lower and of course there were fewer bids. Only 144 bidders from the original 199 bidders joined the private auction. That means that 54 (plus the non paying bidder) didn’t bother to even join the auction the second time. The first auction had 261 bids while the second one only 228 bids.

The new winning bidder paid about $13,000 less than what he was willing to pay the first time. Winning bidder with the nickname “hxcai” had a $31,800 maximum bid in the first auction.

Here are the top six bidders in the first auction:
billcarns $43,310
only999 $43,210
looyeah $41,000
hxcai $31,800
askand $30,000
rptek $16,500

Bidders with bold didn’t make a significant bid in the second auction. Instead here are the top bidders from the second auction:
hxcai $18,681
apexnames $18,581
jcy366 $18,181
crunchyg $15,001

It seems that most bidders don’t like to bid on domains that have come from a non-paying bidder auction. And I can’t blame them. You spend time bidding and the auction is cancelled. You feel that this can happen again or maybe you have spend your budget on another domain. Your proxy has been revealed so you are afraid someone will push you close to it. Can you think any more reasons?

Sold.Domains

About Konstantinos Zournas

Konstantinos studied Computer Engineering and Computer Science in London and lives in Athens, Greece. He works on domain names, websites and software development. Has been online since 1995 & domaining since 2002.

10 comments

  1. Maybe the bidders in bold could be in cahoots with the seller to jack up the price.

  2. Bidders in the original auction may feel scammed by a proxy bidder running up the bid. How come you didn’t research this topic as a halvarez-type bidder?

  3. A lot of bidders lose interest and/or track of an auction. E.g. I bid impulsively at times, and if the auction ends I am more reluctant to repeat this a month later for the same domain.

  4. This would never happen at JointVentures.com

    Gratefully, Jeff Schneider (Contact Group) (Metal Tiger)

  5. TBH I find $18k a much more fitting price for the domain than $43k.

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