bidding in NZ

[findtim]

thought i'd take this out of the netfleet thread as this has nothing to do with NF.

i did my first bid on www.expireddomains.co.nz the other day, i won on their platform but lost to NF.

THEN they still took money out of my credit card, well apparently they didn't as the reply below says, i just don't have access to the money in MY account for god knows how long !

i understand the WHY, just don't like it.

i've now asked them to tell me what happens if i buy a $10K domain? as i don't have a $10K credit card !!! ( no jokes about no domain in NZ is worth $10K )

tim

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Hello Tim

Thank you for your email.

We have not actually charged your credit card with any funds at this stage. An 'Auth' transaction is completed for all transactions first to ensure that the credit card is valid and that there are funds available. The Auth allocates the funds available to Expired Domains should we successfully register the domain name for you during the release domains process and we complete the order. If we complete your order the 'Auth' is completed and the funds are transferred. This is a legitimate banking process and a way to ensure that funds are marked available if the transaction is processed. If the auth is not completed, the allocated credit will be returned to your card limits within 3 days. The length of time is Dependant on your credit card issuer policy. Please contact your bank if you wish to query this further.

 

[findtim]

the reply was prompt but was this

i've corrected them on the NF reference but what i note is the last paragraph, i'd be really peeved if that happened.

tim,

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Hello Tim

Thank you for your email.

If Netfleet were able to give you account details and wait for a manual payment then chances are their system works different in a way that they most probably were the owners of the .com.au name and were selling it directly where as with expireddomains.co.nz you are bidding for a domain name that is still registered to someone else but is about to drop off the register around midnight, basically with a .nz name you purchase them first come first serve so at midnight when they are about to be released if a domain is considered to be a "hot" domain in where a lot of people may be wanting to register it as soon as it drops off the register you are going to have much more of a chance being the highest bidder on expireddomains.co.nz as our system will beat any manual registration hands down however because we don't actually "own" the domain we need to pre-authorise payment first before our system will submit a registration to the registry.

To answer your question about a 15k domain, our system is credit card only so if a domain went up that high but you didn't have a 15k or more limit then unfortunately our system would fail if you won the domain as the pre-auth would fail.

 

[findtim]

Seems i have my own private thread, but i do appreciate the PM's i have received, thanks.

SO, if you don't want to read a long story dip out now.

i can only state the facts as i know it, i was just investigating the NZ market but a domain i would have liked came up to day, based on my last failure i did bid and win on NF today, i then bid on expireddomains.co.nz and discountdomains.co.nz as well and got beaten on both, NF didn't win so i lost out on the domain, no big deal but great learning.

BUT, expireddomains.co.nz is complete rubbish in my view, if they hadn't won the auction but my bid of $1000 still would have come off my credit card ! , no they don't get the money but i just can't use that money for 4 days !!! imagine if every bid you did on NF and drop each day got taken off your credit card regardless of winning !!!! , just stupid in my view.

the other site discountdomains.co.nz lets you bid but no proxy, so if you up your bid then its THE BID.

expireddomains don't let you bid .... they tell you what your next bid HAS TO BE !!!!

NF and drop are sooooooooooooooooo far superior to these nz websites in usability, i am peeevvvvd that nf didn't win for me but hey ! can't win them all.

SO in conclusion, you do need to bid on all websites, and you do need to win on all websites, and you do need to have a large credit card balance available.

there is still another stage to this story and i'll try to find it out tommorrow.

i hope this info helps someone else?

tim