some newbie questions.. thank you!

[fbriggs1]

Hello,

I am a newbie to this domain name business. I have a couple of questions and I would be very thankful if some of you with experience could help me out by answering. Thanks!

Q: If I sell a domain name on this forum, how is that transaction generally performed? (i.e. is there an escrow service involved usually?) I have the domain registered with GoDaddy and have a PayPal account.

Q: About how much is a pronouncible CVCC.com worth these days?

Q: Suppose I wrote a program that generates random domain names, then checks them for availability... is that program worth much to anyone, or are you all already using something 10x better?

Q: What is the market for LLLL.com domains like? That is, if one can find an unregistered LLLL.com, is it always worth while to register it? How hard is it to sell such domains?

Thank you for your answers and time.

 

[retired_member2]

Hello,

I am a newbie to this domain name business. I have a couple of questions and I would be very thankful if some of you with experience could help me out by answering. Thanks!

Q: If I sell a domain name on this forum, how is that transaction generally performed? (i.e. is there an escrow service involved usually?) I have the domain registered with GoDaddy and have a PayPal account.

A. Anything that you want money is money but Paypal is for jokers, why sell a domain for 10k say and then pay paypal about 1,5k in commission at a very rough figure, why not take a cheque etc?

Q: About how much is a pronouncible CVCC.com worth these days?

A. Open book

Q: Suppose I wrote a program that generates random domain names, then checks them for availability... is that program worth much to anyone, or are you all already using something 10x better?

A. Hundreds of programs out there but give demos out and see what happens, you might earn more money from that than some domains.

Q: What is the market for LLLL.com domains like? That is, if one can find an unregistered LLLL.com, is it always worth while to register it? How hard is it to sell such domains?

A. Again open book

 

[SF]

fbriggs1 - I wouldnt listen to the above advice - hes our local village idiot

 

[retired_member2]

fbriggs1 - I wouldnt listen to the above advice - hes our local village idiot

If you know so much, why dont you help and advise him then?

 

[olebean]

Don't ever take a cheque or bankers draft for large sums.. even after clearing some 5-10 days after banking they can bounce 3-4 months later!!

 

[retired_member2]

Don't ever take a cheque or bankers draft for large sums.. even after clearing some 5-10 days after banking they can bounce 3-4 months later!!

All payment methods can bounce though especially with chargebacks so too a degree apart from cash then no payment method is safe, paypal can have charge backs and there still charge you the commission or probaly will knowing them.

So anyone could reasonably bounce a cheque anyone in here can, so too a degree looks like everyone will deal in cash from now on.

 

[olebean]

there is a difference between reasoned bouncing and fraud... After seven days, many people would assume a cheque has cleared...

It all comes down to personal risk assessment, having had a cheque that bounced 2 months later I can assure you it is not pretty! (£8.5k)

 

[retired_member2]

there is a difference between reasoned bouncing and fraud... After seven days, many people would assume a cheque has cleared...

It all comes down to personal risk assessment, having had a cheque that bounced 2 months later I can assure you it is not pretty! (£8.5k)

Hopefully you took this to the police for fraud?

 

[olebean]

Hopefully you took this to the police for fraud?

Yes, the cheque was a bankers draft from outside of the UK!

 

[retired_member2]

Total waste of time then the main amount of fraud is from out of the UK, I sell as well and I wouldnt sell outside of the UK, at least the police are reasonably clued up in this Country anything overseas and normally they dont give a toss really unless its major internet fraud in which usually takes ages to investigate and take to court and normally you dont get your money back.

I have a lot of people that earn me money but one sign of fraud and I close accounts down as gives me a bad name on networks and with the companies involved, so everything is chequed and checked again.

 

[olebean]

I've also had a cheque for a smaller amount from inside the UK, the police did nothing (no exactly nothing, the case went nowhere)

 

[retired_member2]

Depends reasonably on the amount and the type of thing it was sometimes this say that its down to civil law e.g solicitors as its a dispute between two parties.

I had someone tamper with my post years ago and techincally that is tampering with Her Majesty's Royal Mail which is supposed to be a very serious offence but was a fob off.

I used to love the police when I was in the forces I could just flash my 1250 and I could get away with murder I still have had a close connection with the police so know how to handle them, went to Wales a few months back now and some kids were throwing stones at a friends window and she phoned up and they never took any notice, they still done it the next night, I get on the phone and say I want officers down here and a crime report number, 30 mins there on the door step.

Thats going beyond fraud though but usually CID deal with that rather than local bobbys so you need to make sure that you bypass the local plod and get someone in CID.

 

[olebean]

agreed.. it was £5.5k

 

[keys]

It is all to easy to fall for a scam or deceit when you think you are making a good sale. A bounced check is one returned because the bank will not accept it, usually due to lack of funds or the words and figures don't match.

What is worse, and more common, is where someone uses stolen funds to make a purchase. This can be a forged or stolen cheque/draft, credit card details, or unauthorised transfer using direct banking. The loser may not be aware of the missing funds for weeks or months, and that is when the bank will seek to recover the money. So you are forced to hand back full payment, and your car or other valuable item has long gone and been resold.

There is no sure way to avoid being caught, be duly suspicious if in doubt. Fortunately, most people are honest.

 

[FC Domains]

A. Anything that you want money is money but Paypal is for jokers, why sell a domain for 10k say and then pay paypal about 1,5k in commission at a very rough figure, why not take a cheque etc?

Deeply bad advice.

The paypal fee for £10K is about £350. Which is just about the best you can get for any credit transfer.
A direct bank transfer is probably better, but still not without risks.

 

[Admin]

Agreed, bank transfers all the way

 

[retired_member2]

Deeply bad advice.

The paypal fee for £10K is about £350. Which is just about the best you can get for any credit transfer.
A direct bank transfer is probably better, but still not without risks.

I did say very rough figures, I pulled the figure out of my head as sometimes I just speed type I think its about 6% or something like that depending upon which account you have.

I still wouldnt want to lose £350 and then have possible chargebacks using Paypal though.

In respects everyone has a bank account so too a degree bank transfer is the safest way of doing things.

I paid for a computer recently that a mate sent but parcel farce lost, I tried to get my money back from the bank as he wouldnt do nothing to help me recover the money, so I phoned them up and they said nothing they could or would do.

So for most goods I will only pay via credit card from future even with friends are involved at least you have that basic payment protection.

 

[olebean]

they can recall the funds upto 4 days after payment


Bank transfers again are subject to payment method i.e. cleared or uncleared funds

 

[retired_member2]

Might as well close down AD after this thread probaly all be paranoid about selling a domain again lol

Still going cold turkey with the no swearing rule though lol Thats been about 10 minutes now since the last

 

[keys]

I don't know if I have been lucky or careful, probably both, but I've been trading for years with no serious lost payments.