Twitter auctions have no consequences for bad or illegal behavior
There was a secondary discussion point in a post on Namepros about auction houses.
@MetBob mentioned he saw that Daryl Lopes auctioned a name off on Twitter and thought it was a good idea.
For those on Twitter, I see that right now @Darryl Lopes is auctioning a 4 letter .com domain on Twitter. As far as I know this is first time this has been tried (if not, can you let me know, as I was thinking of a future blog post on the topic after the auction is over)? For those who have issues with the traditional auction sites, it does offer a different alternative that you control yourself. Obviously there are potential issues which I am sure Darryl has thought about, but it is a creative new way, and one where in a way transparency is obvious (as long as no brand new Twitter accounts are allowed to bid).
It was not the first time it was brought up, I had tweeted out something in 2016 and then back in April of 2017 I tweeted out the idea of auctioning a name on Twitter again.
You can read the string of tweets here, some proclaimed it would fail, others liked it and wanted to try it.
When I gave it more thought, I think the one thing missing is any kind of negative ramifications for a non payer.
There are different degrees of punishment on other auction houses, some might think they are not strong enough, while others are indifferent. But there are at least some penalties. The bidder that cost GoDaddy $27,000 on Dispute.com got banned, on Namepros you get negative TR ratings and the community will grow to shun you if it becomes a pattern.
With Twitter fraudulent bids would be easy, so @Iheartdomaining runs up a name and it’s at $500, but what no one knows is that @Iheartdomaining was the first Twitter handle that @4LKing had before he focused on four letter .coms and wanted a new Twitter handle to better reflect that.
So now we got a shill bidding situation and there isn’t anyone regulating that on Twitter, nor is there any punishment.
Another scenario is that @FrankieShilling (a parody account) is the winning bidder at $500 and never responds to a dm looking for payment. So while it can be a fun experiment, the juice is most likely not worth the squeeze.
I do have one idea but it might be too much work to get people to actually cooperate, I will give it some thought and see if it worth writing about.