Update 2: NamePros Moderators Confirm Violation of Auction Rules
Following the cancellation of the MakeMoney.com auction by the seller known as “Business Brands”, NamePros moderators have released a statement confirming that the auction was in violation of the platform’s rules.
In the statement, the moderators noted that the seller changed the auction guidelines after a $95,000 bid was placed and then closed the auction without awarding a winner. This violates two key rules on the platform: rule 6.2.3, which states that auctions cannot be modified once a bid is placed, except in certain specific circumstances, and rule 6.2.10, which requires auction holders to sell to the highest bidder with a valid bid at the end of the auction or to the first buyer to accept a valid Buy-It-Now (“BIN”) price before the auction ends.
The moderators have issued an “unacceptable business infraction” for the rule violations and further investigation is pending.
This latest development raises even more questions about the authenticity of the auction and the intentions of the seller. It is important for buyers and sellers to abide by the rules of online marketplaces in order to maintain a fair and transparent marketplace for everyone involved.
We will continue to monitor the situation and provide updates as more information becomes available.
Update: MakeMoney.com Auction Cancelled Due to Charity Concerns
The recent auction of the MakeMoney.com domain on NamePros forums has been cancelled by the seller, known as “Business Brands”. The auction had received a lot of attention, with the highest bid reaching $95,000 USD, but was abruptly cancelled by the seller who cited concerns about being able to channel the proceeds to a food bank supplying white bread.
This has raised questions about the authenticity of the charity auction and whether it was a genuine effort by the seller to support a good cause. It is unclear if this violates any rules on the NamePros forums or if the auction was allowed to be cancelled by the seller.
The MakeMoney.com domain is valued in the millions of dollars, making the $95,000 bid seem relatively low. It is possible that the seller cancelled the auction because they were not satisfied with the final bid or the way the auction was going.
Regardless of the reasons behind the cancellation, it is important for buyers and sellers to conduct themselves with transparency and integrity in online marketplaces like NamePros. It is also important for buyers to be aware of the potential risks involved in bidding on high-value items and to exercise caution before making any financial commitments.
As more information becomes available, we will update this article accordingly.
Using the Power of Business for Good – How Business Brands’ Auction for MakeMoney.com Is Shining a Light on the Importance of Corporate Social Responsibility, Transparency, and Trust, While Encouraging Others to Follow Suit and Create a Better World for Ourselves and Future Generations.
Business Brands, a user on the NamePros forum, is currently holding an auction for the domain name MakeMoney.com, with all proceeds going to charity. The auction has already garnered a highest bid of $65,000 and is set to end 10 days after the last bid.
In his auction listing, Business Brands states that the funds raised will be used to supply white bread to the food bank for people affected by the war in Ukraine. He goes on to say that while the best charity is when no one needs any charity, we are not yet at that point, and thus he found a way to put the domain to good use.
It is heartening to see someone using their business to make a positive impact in the world. It is easy to get caught up in the pursuit of profits and forget about the wider impact we can have on society. Business Brands, however, is leading by example, and he aims to encourage other business people to do the same.
MakeMoney.com is a highly sought-after domain name, and Business Brands admits that it has been his darling for some time. However, he believes that what goes around comes around and that by doing good, we can create a better world for ourselves and future generations.
The auction details are as follows: the domain is registered with eNom and is set to expire in 2033. The winning bidder will have the option to either push the domain to their own eNom account or transfer it out to another registrar. The transaction will be conducted through escrow.com for security and peace of mind. The starting bid is $1, with minimal increases of $1, and a Buy It Now price of $1.8 million.
It is refreshing to see someone using the power of their business for good, and it is a reminder that businesses can have a positive impact on the world beyond just generating profits. Business Brands’ auction for MakeMoney.com is a shining example of how businesses can be used to make a real difference in people’s lives.
Furthermore, Business Brands’ offer to do a private Skype call with the winner of the auction to show them the purchase process of white bread and distribution is a great way to build transparency and trust with the winner. It is always important to build trust with your customers, and this is a great example of how to do it.
It is also notable that Business Brands is using the auction as an opportunity to encourage other business people to think about how they can use their businesses for good. By leading by example, he is showing that it is possible to be successful in business while also making a positive impact in the world.
Business Brands’ auction for MakeMoney.com is a heartening example of how businesses can be used to make a positive impact in the world. By using his business to raise funds for charity, Business Brands is leading by example and encouraging other business people to do the same. It is a reminder that businesses can have a wider impact on society beyond just generating profits, and that by doing good, we can create a better world for ourselves and future generations.