Bankruptcy.biz Looking for a quick sale

[namewaiter]

wtf?????? can't u ****ing read????????

i made an offer @ 4:58 P.M. u got a problem with that??? if u don''t believe me why don't u say so and ask me to prove it (since i'm the one who claims it)??

since u r such a big mouth, why don't you post a screenshot of your p.m. offer?

i've got mine ready and waiting.

no pm needed ... i posted final offer in thread!

 

[think]

I had 2 offers higher than the $325 before the time ending by PM.

I appologise for the EST instead of ESD time refference.

I will forward the text of those two offers and all the other inqueries as well to the Mod if requested.

I appologise for the confusion but it was not intended to be an auction and I didn't expect all the PM's at the last minute.

 

[namewaiter]

esd / edt what are talking about 5 pm est. is 5 pm est.

and your 2 offers prior to 5 pm est are easily confirmed by a mod.

 

[peekaboo]

no pm needed ... i posted final offer in thread!

so what if u posted the final offer in thread?

where does it specify that the final offer needs to be in the thread??

the seller was accepting highest offers. period. no specifications as to how they needed to be submitted.

so, if u made a higher bid than i did by 5 p.m. then by all means. but don't expect your 5:00 pm thread offer to superscede those submitted prior to 5 p.m. via p.m.

 

[namewaiter]

so what if u posted the final offer in thread?

where does it specify that the final offer needs to be in the thread??

the seller was accepting highest offers. period. no specifications as to how they needed to be submitted.

so, if u made a higher bid than i did by 5 p.m. then by all means. but don't expect your 5:00 pm thread offer to superscede those submitted prior to 5 p.m. via p.m.

exactly and as long as those pms weren't after the 5 pm deadline .. you're right

 

[peekaboo]

exactly and as long as those pms weren't after the 5 pm deadline .. you're right

finally, we agree on something.

except, i killed myself to explain something so simple.

why did we needed two pages for this?

 

[namewaiter]

finally, we agree on something.

except, i killed myself to explain something so simple.

why did we needed two pages for this?

what is wrong with you? why don't you go back and review my posts, i never said otherwise! all i am saying is that if your offers missed the deadline it's my domain.

 

[think]

Pm's have been sent to the Moderator. I meant to post the lower buy it now before the deadline but was busy with multiple PM's.

Again I appologise for the confusion.

 

[Mr. Deleted]

finally, we agree on something.

Well, I confirm that whatchamacallit is the winner after reviewing the PMs.

 

[jaydub]

Nice work Mr.D...not an enviable task....
Congrats to both on sale

 

[clemzonguy]

Seller does have right to sell to whomever he chooses. Two factors 1) higher/competing/unanswered offers via PM 2) lowering the buy-it-now price 3) time limitations are all factors which contribute to this type of problem. Buyers have no confirmation that there are other parties bidding against them. I have had people make this up in the past to get me to pay more only to find out that the other person "dropped out" or "failed to send payment". I wanted to know the final price to beat before submitting a final offer and comitting funds while in the process of two potential transactions in the same day. The name should go to the buy-it-now party despite the fact I do not agree with him changing it without giving others a fair shot to counter first. But that really is the seller's decision overall. Good luck to whomever get the name.

 

[eeedc]

Seller does have right to sell to whomever he chooses. .

If the seller has the right to sell to whomever he chooses, that means that anyone can set up an auction and change the rules, decide not to sell.....???

Seems like an example of the need for some more rules on auctions - even if the rules are chosen by the seller.

Either it should be a "sealed bid" auction where the "sealed bids" are not opened until the end or

it should be an open auction where prices are posted when bid.

In any case, a prestated end time has to be respected, with maybe prestated options to extend 15 minutes past last bid to eliminate last second sniping.

Most auctions go from low to high price, but once in a while there are dutch auctions which start high and go to low - with the first person saying yes buying it.

In case you are wondering what auction method earns the highest, and academics have studied this in bond auctions and big money auctions for obvious reasons - all methods yield the same expected return.

 

[Theo]

This was not an auction, eeedc. Auctions have their own separate forum.

 

[Mr. Deleted]

It is over. whatchamacallit won the sale. I have been asked a lot of questions by namewaiter, but I see nothing wrong with the bid, as he had a bid that was higher then any other that was marked 2 min before the deadline, however 8 min. later he raised it over a 100. to ensure that he wins the sale. As such, if that last bid was too late, then the first one that he made was even high enough to outbid namewaiter and the other member that I won't mention unless they want me to. That bid was a proxy bid up to 400.00. So that member would have got it before namewaiter too.

I don't play favorites, and just stick to the facts. whatchamacallit won.

 

[Theo]

Since when we started referring to "bids" in the Fixed Prices & Offers section? And since when other terms, such as "proxy bid" apply to this very forum?

Also, either close this mess of a thread or move it to the discussion forum. It's a nuisance to other sales.

 

[scorpio]

Thread Closed.

He ment offers and not bid..

Thanks.

 

[GiantDomains]

Moved with redirect to Legal Issues.

 

[jberryhill]

A contract is formed when a non-terminated offer, having terms definite enough to form a contract, is accepted.

Let's look at the offer (assuming it wasn't retro-edited).

Looking for a quick sale as I need money for traveling expenses or otherwise.

Taking the best offer by 5pm EST Saturday August 6th.

Paypal payments only please as this is some what urgent.

Buy it now price $995

Please make bid incremements of $25

This sale may end early if I get an offer close to the buy it now price.

Current offer $300 . This offer will be accepted if no other offers are made.

Registered at Domainut.com for easy in house push.

Expires 6/08/2006

This says the domain name will be sold in any of three ways of indicating acceptance.

1. An offer of $300, if no other offers are made.

2. A "buy it now" price of $995; or

3. The "best offer" by 5 PM EST August 8.

Whether you characterize this proposal as an "auction" or not, is not relevant. Option 1 appears to have been eliminated, as multiple offers were received. Option 2 was also eliminated.

I have many last minute inquieries coming in. I will hold the offers open for 15 minutes or so to sort it out.

Can you extend the time like that? No, you can't. That's a fraud on the people who, in good faith, submitted offers prior to 5 PM August 8. Among the people who made such offers, at least one of them was the highest offer, under option 3.

Whatchamacallit is correct there was no requirement for offers to be posted. The person who gets the name under option 3 is whomever makes the highest bid prior to 5 PM EST.

I didn't list this as an auction and I had several inqueries at the last minute. I am sorry for the confusion but I couldn't respond to all the inqueries that fast.

You didn't need to respond to jack. Your terms were the "'best offer' by 5 PM EST August 8". What that means is very simple. After 5 PM, you look at what was sent prior to 5 PM. You find the one with the highest price, and you sell to that person.

And it doesn't matter if you listed it as an "auction" or a "square dance". Your advertisement stated you would sell the name to whomever made the best offer by 5 PM August 8. Period. End of story.

I wanted to know the final price to beat before submitting a final offer and comitting funds while in the process of two potential transactions in the same day.

Then, clemonzguy, don't participate in sealed-bid auctions - which is the most accurate categorization of what this was. If you suspect manipulation, or don't like sealed-bid auctions, then you don't have to participate, but the seller is entitled to run one.

If the seller has the right to sell to whomever he chooses, that means that anyone can set up an auction and change the rules, decide not to sell.....???

No, a seller cannot do that.

Either it should be a "sealed bid" auction where the "sealed bids" are not opened until the end or

it should be an open auction where prices are posted when bid.

It can be a sealed bid auction with people posting their alleged bids, or the seller announcing the highest one as it goes, unless stated otherwise. Here, it was simply 'best offer by 5 PM', so there were no restrictions on what anyone might, or might not, choose to post.

Since when we started referring to "bids" in the Fixed Prices & Offers section?

Because it was offered at the "fixed price" of $995 to whomever wanted to pay that, right then and there. There was also an auction component, if nobody wanted to pay that much. Wherever it was posted, and whatever he called it, taking the 'best offer' by the end of a defined time period is often referred to as a auction of some kind.

He ment offers and not bid..

A bid is an offer. The way that contract law approaches the general concept of auctions, as opposed to sales, is as follows. In a straight sale, the seller makes an "offer" - I will sell X for Y$. That offer can be accepted, and sell a contract, by a buyer stating "Yes, I will buy X for Y$".

An auction actually reverses the roles of the "offer" and "acceptance". The buyers are making "offers" - one of which the seller has stated he will accept, and generally the highest offer on the table at the time the hammer falls. Hence, defining the terms that will be accepted - 'best offer' - and the time that the offer will be accepted '5 PM' are the defining elements of this sort of method of sales contract formation. In fairness to bidders ("offerors"), a reliance interest is recognized in the stated terms of the auction on the part of those who have made bids during the term of the auction.

Assuming that Mr. Deleted looked at whatever was bid prior to 5 PM, and picked the highest one of that lot, then he correctly identified the buyer.

 

[namewaiter]

Mr. Berryhill,

Thanks for the input. I agree no matter what it was termed rules were laid out and those are what needed to be followed.

My only concern from this situation is that mr. deleted told me admins can't view member's pm info. It would have been very easy to simply verify the times in their inbox/sent boxes. He relied on a .jpeg screen shot from the 'winning' bidder to say, 'yeah it came in at 4:58pm.'

From what I understand, I wouldn't have won irregardless, so that isn't what this is about. Doctoring a screenshot is a very simple task, there has been many instances and situations brought up on this board and simply relying on this as proof seems odd and the one I saw didn't exactly convience me.

I just wish the sale was 'on the table' would have made it much less frustrating.

 

[Domagon]

I may have missed something in this thread, but from a cursory reading, it appears whatchamacallit is the winner, even despite the extension of time ...

While the 15 minuite extension in and of itself is a bit shady, it's technically not contrary to the terms layed out by the seller for an obscure reason - the seller said 5 PM EST ... well, 5:00 PM shown on the boards to most folks with Eastern time set in their User CP / computer clock, etc was actually only 4:00 PM EST in reality ... of course that raises the question of did the seller truly know the terms of the sale themself, since the time aspect is somewhat abiguous EST / EDT? ...

Ron