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INSIDER TRADING - NETFLEETGATE

Discussion in 'Netfleet.com.au' started by robert, Sep 28, 2015.

  1. robert

    robert Membership: Community

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    Ned over at Domainer.com.au has just posted this -

    "I believe there is effectively insider trading going on at Netfleet. I can’t describe what happened in any other way. Certain people have access to private bids on your platform, and are using this information to try and elicit higher bids from others. In my opinion, this is causing (and has caused) financial loss / loss of opportunity to your existing client base."

    This is unbelieveable - go read the details - http://www.domainer.com.au/open-letter-to-netfleet/
     
  2. James

    James Membership: VIP

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    I guess this is a complex matter to have sales people involved in what is meant to be a hidden process and a fair process, though sales people probably have targets and have insider information. This is one reason it kind of turns me away from using NetFleet at the moment.

    Also it is probably not advisable for domainers to "pre-sell" domains before acquiring these on the platform without knowing the "true" sale value, that seems quite a risky business model to me. Though I can see how some would opt to do it!
     
    petermeadit likes this.
  3. Jonathan Gleeson

    Jonathan Gleeson Membership: Community

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    Netfleet have responded on Ned's Blog
     
  4. findtim

    findtim Membership: VIP

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    robert, probably best to keep a subject to 1 thread as it just gets confusing, maybe admin can clean it up, but on this subject i know it does cover many topics.
    IMO this thread should be about how we feel about NF's actions
    in the legal thread you started should be about the ramifications of the actions
    in the domain news thread it should be about informing people about neds post
    and in dropping domains it should be about what has happened in the past
    just my opinion, i'd also have changed the titles to reflect individual aspects of each thread.

    not trying to be a teacher, its just when i saw all the duplication i didn't know where best to start a conversation
    tim
     
  5. findtim

    findtim Membership: VIP

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    NOW for my comment.
    in reality this issue could be a GREAT thing for johnathan, if he takes it as a positive and basically says " right guys, I NEED full rights to do what ever i want " , then he can make the new NF whatever he wants.

    Johnathan, i'm choosing to go down the path of " i think you are a nice guy and will slam this down"
    so lets not slam johnathan down right now, lets give him time to find the problem/process , solve it and then report it and not ignore us like the old NF has done for quiet some time.

    but something has to change and my post here is an addition to my post on domainer which i firmly believe in that there needs to be a penalty for this action as i have spent thousands of dollars via netfleet like many others and it just sits in my head " was i being cheated and bidded UP "
    i've lost domains that i felt "no way will someone pay over my bid" , once again it makes me wonder.

    tim
     
  6. findtim

    findtim Membership: VIP

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    i dev not domain, but i often openly source domains for clients, but i basically say "whats it worth to you? whats it worth if someone else gets it " i think these are terms everyone uses.

    BUT to actually seeing the another persons BID, is totally unfair

    i bid the other day for a client and lost, no great loss, but did i lose fairly ?

    tim
     
  7. DnEbook

    DnEbook Membership: VIP

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    Interesting thread indeed
     
  8. Suzabro

    Suzabro Administrator

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    I've removed the duplicates. @robert please avoid duplicate posts
     
  9. helloworld

    helloworld Membership: VIP

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    What's the domain in question?
     
  10. findtim

    findtim Membership: VIP

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    i don't think that matters as all parties involved have agreed that it DID HAPPEN, the more important question i think is HOW MANY times has it happened ?
    tim
     
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  11. DnEbook

    DnEbook Membership: VIP

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    Didn't the same thing happen with eels ?
     
  12. findtim

    findtim Membership: VIP

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    eels situation was it was taken OFF the market preventing others from bidding, this issue is about disclosure of other bids in a " blind bid" system.
    both bad
    tim
     
  13. Andrew Wright

    Andrew Wright Membership: VIP

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    This is a train wreck. It's not just the disclosure of bids by a telesales rep. It's the RSS feed with live bids that continued to run after Netfleet changed their format to blind bidding...
     
  14. robert

    robert Membership: Community

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  15. DnEbook

    DnEbook Membership: VIP

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    So where are Netfleet to refute all these allegations I wonder?
     
  16. asantha

    asantha Membership: Community

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    to be honest - I am not surprised - it is Netfleet, what do you expect.
    and there is a new manager - he will tell you " I don't know about this, it will not happen again" and you all move on until the next one.

    By the way, I had a feeling about this, when I am loosing my bids by few dollars, I was happy that I could guess the true value, well it seems it is not the case - lol, I was an idiot, who was in a scam or what ever it is
     
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  17. DnEbook

    DnEbook Membership: VIP

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    Their silence is deafening ....
     
  18. Scott.L

    Scott.L Membership: Trader

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  19. findtim

    findtim Membership: VIP

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    the old "bait and switch" which in this case is "sorry but here's a list of positives that they probably will never do "

    what a crock and where's auda on this ??? as usual nowhere.

    tim
     
  20. snoopy

    snoopy Membership: VIP

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    Bid late or don't deal with them because this company will never be clean, the lack of ethics is "in the blood" at that place and it has been that way for as long as I can remember.

    Ned was gobsmacked, i'd be gobsmacked it was revealed Netfleet wasn't doing stuff like this.
     
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