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I will have to disagree with most comments here: I’m not sure Jump is to blame here. - $100’000 seems like a rather generous compensation to change your email

by Ecco 4y ago

I will have to disagree with most comments here: I’m not sure Jump is to blame here. - $100’000 seems like a rather generous compensation to change your email address. - And most importantly, they simply agreed to his initial demand. And now he’s backing off out of greed. Hell they even agreed to his second counter-offer of $100k and now he wants $200k…

Fauntleroy 4y ago
Just because someone makes a good offer, it doesn't obligate the other party to accept it.
- Ecco 4y ago
  Well, it’s not just a good offer: it’s the price the seller asked for in the first place, isn’t it?
  - frumper 4y ago
    Since he hasn't sold anything its kind of hard to call him a seller. He got an unsolicited email. He isn't in the business of selling domains.
- ALittleLight 4y ago
  True, but if someone says "The price is X" and you say "Okay, deal" and then they say "No, that was too easy, I could get more from you" then there may be some kind of obligation there - at least a moral or social obligation if not a legal one.
  - stjohnswarts 4y ago
    Why should the individual have morals when dealing with corporations when corporations don't have morals?
moreira 4y ago
It's his domain, he is free to change his mind for whatever reason. He's not obligated to sell it for any amount of money, and he's definitely not done anything that he should be sued over. He's free to be as greedy as he wants to be, and the company are free to either pay up or go away. But bringing him to court because "wahhh he won't sell to us" does seem ridiculous.
- Ecco 4y ago
  I’m not sure I agree with that. I think he’s absolutely free to come up with whatever ask he wants in the first place. But once he did ($50k) and once a buyer agreed to it, I’m not sure it’s fair to revisit the price. Order is of the essence here.
  - kortilla 4y ago
    If I list my house for $20, then realize it might be too low and raise the asking price to $100k, that doesn’t suddenly mean I’m forced to accept the first offer that comes in.
    - mr_toad 4y ago
      A listing is not an offer. This is really basic contract law.
      - kortilla 4y ago
        Exactly, the old man gave a listing, not an offer.
nrmitchi 4y ago
Well if that’s the case, I’d like to buy your house for $50k. That seems like ample compensation for you just changing your address and you should take it. The point here is: - someone with knowledge of something’s value tried to by something - person who owned it realized that they didn’t know the value - person realized the value and decided he wasn’t going to undercut himself. Now in this situation, you’re calling the 79 year old man greedy, rather than the company being greedy? The company that is fairly-clearly trying to run an old man over with legal fees to steal something that they don’t own?
- Ecco 4y ago
  I feel like a key difference here is that the owner was initially willing to sell for $50k. He was the one coming up with this price tag in the first place, wasn’t he?
  - anonymousab 4y ago
    > I feel like a key difference here is that the owner was initially willing to sell for $50k. He said it as a clear joke. Here's a ridiculously huge number for a novelty, a bauble - now go away.
    - rosndo 4y ago
      How was it a clear joke?
    - smabie 4y ago
      50k isn't a ridiculously huge number though? Domains have gone for much much more in the past
  - nrmitchi 4y ago
    So when a house is listed for sale for an asking price, does that mean the seller is obligated to sell for only that amount? The seller came up with that price tag in the first place.
  - shkkmo 4y ago
Veen 4y ago
> And now he’s backing off out of greed What do you think motivates the algorithmic trading company trying to buy the domain?
- Ecco 4y ago
  Agreed. I guess actually everyone is greedy in this story, but only one party doesn’t seem to be true to their word.
- chronic83930 4y ago
  Trading companies: we exist to make as much money as possible Tech companies: we exist to make the world a better place Everyone on this planet is greedy. - The church priest asking for donations - the homeless man asking for drug money - and the software engineer with competing FANG offers. At least finance people have the balls to admit it.
zamadatix 4y ago
He's had the domain since '94 and he's 79. If he's refusing to sell to someone offering double his original "go away" offer I'm inclined to believe he's truly not interested in selling the domain not that he's hoping to hold out even longer. However even if this was his long con on owning the domain having proposed a number in email seems unlikely to form a contract that he must sell it to them at that cost but I suppose we'll see.
lovehashbrowns 4y ago
Jump lowballed for $2500 knowing full well that was a trash offer for a domain like wormhole.com. The owner just figured 50k would be such a big number that Jump would go away. There’s no world where Jump should be suing this person. There’s no contract here. Jump is just being greedy and is trying to bully this person into selling the domain.
- Ecco 4y ago
  I’m sorry but I don’t agree. If you don’t want to sell, they say “this domain is not for sale”. If you say the price is a “firm $50k”, well, it looks to me like you’re willing to sell for $50k. And I don’t think he was bullied into coming up with this offer.
  - lovehashbrowns 4y ago
    It looked to be 50k, but that changed. There was never a full agreement. You can change the price of something based on the buyer’s response. Happens all the time. Magic the Gathering, antiques, art, domains, Instagram usernames, etc. if someone starts salivating at a price you thought was wild, you’re obviously selling for too low.
juancb 4y ago
At which point he'll ask for 400k, and then 800k ad infinitum. He doesn't want to sell.
- shepardrtc 4y ago
  He should have just ignored them from the beginning.
jaclaz 4y ago
It seems to me a bit different. They offered initially $ 2,500. Then he replied saying that the price was $50,000. Then he rejected the offer of $ 50,000 and was offered first $ 100,000 and then (through a different agent) $ 200,000. Of course IANAL (and know anyway very little of US Laws) but if this corporation really-really believed that the $50,000 reply actually amounted to a binding contract, they should have attempted to have it respected immediately, the two later offers, doubled each time, sound nothing like "good faith" (probably irrelevant in court, still ...).
- Ecco 4y ago
  I agree with you. I think they were willing to pay more than initially agreed to expedite the process. Since it didn’t work I’m pretty sure they’ll ask the court to execute the sale at $50k.
  - jaclaz 4y ago
    Well "more" (to expedite the process) is not double or quadruple. At least when/where the object of the sale has a value that can objectively be estimated. Surely a reply like "The domain is not for sale." would have been better, but considering a one line reply (to an unknown/unverified correspondent) a binding contract sounds (to me) more than a bit "off".
- mr_toad 4y ago
  > Then he rejected the offer of $ 50,000 You can’t reject your own offer!
  - jaclaz 4y ago
    The offer to buy at 50,000, I meant. Maybe it is a translation issue, here (Italy) it is the buyer that makes an offer and the seller that sets a price or accepts an offer (or proposes a counter-offer).
ipaddr 4y ago
For some people 500 would be generous compensation to change an email address. Others 5,000,000. What your personal level is doesn't factor in. Not getting a current market value offer an blindly accepting isn't greed. Being 79 with a domain you carried for years can be worth more than 100,000 which after taxes is much less.
stjohnswarts 4y ago
We live in a free market, the domain is worth whatever people are willing to give you for it and not a penny less. Why should he give it up to make some crypto-bro happy? He's had it for something like 20 years.

by Ecco 4y ago

Fauntleroy 4y ago

Just because someone makes a good offer, it doesn't obligate the other party to accept it.

Ecco 4y ago
Well, it’s not just a good offer: it’s the price the seller asked for in the first place, isn’t it?
- frumper 4y ago
  Since he hasn't sold anything its kind of hard to call him a seller. He got an unsolicited email. He isn't in the business of selling domains.
ALittleLight 4y ago
True, but if someone says "The price is X" and you say "Okay, deal" and then they say "No, that was too easy, I could get more from you" then there may be some kind of obligation there - at least a moral or social obligation if not a legal one.
- stjohnswarts 4y ago
  Why should the individual have morals when dealing with corporations when corporations don't have morals?

moreira 4y ago

It's his domain, he is free to change his mind for whatever reason. He's not obligated to sell it for any amount of money, and he's definitely not done anything that he should be sued over. He's free to be as greedy as he wants to be, and the company are free to either pay up or go away. But bringing him to court because "wahhh he won't sell to us" does seem ridiculous.

Ecco 4y ago
I’m not sure I agree with that. I think he’s absolutely free to come up with whatever ask he wants in the first place. But once he did ($50k) and once a buyer agreed to it, I’m not sure it’s fair to revisit the price. Order is of the essence here.
- kortilla 4y ago
  If I list my house for $20, then realize it might be too low and raise the asking price to $100k, that doesn’t suddenly mean I’m forced to accept the first offer that comes in.
  - mr_toad 4y ago
    A listing is not an offer. This is really basic contract law.
    - kortilla 4y ago
      Exactly, the old man gave a listing, not an offer.

nrmitchi 4y ago

Well if that’s the case, I’d like to buy your house for $50k. That seems like ample compensation for you just changing your address and you should take it. The point here is: - someone with knowledge of something’s value tried to by something - person who owned it realized that they didn’t know the value - person realized the value and decided he wasn’t going to undercut himself. Now in this situation, you’re calling the 79 year old man greedy, rather than the company being greedy? The company that is fairly-clearly trying to run an old man over with legal fees to steal something that they don’t own?

Ecco 4y ago
I feel like a key difference here is that the owner was initially willing to sell for $50k. He was the one coming up with this price tag in the first place, wasn’t he?
- anonymousab 4y ago
  > I feel like a key difference here is that the owner was initially willing to sell for $50k. He said it as a clear joke. Here's a ridiculously huge number for a novelty, a bauble - now go away.
  - rosndo 4y ago
    How was it a clear joke?
  - smabie 4y ago
    50k isn't a ridiculously huge number though? Domains have gone for much much more in the past
- nrmitchi 4y ago
  So when a house is listed for sale for an asking price, does that mean the seller is obligated to sell for only that amount? The seller came up with that price tag in the first place.
- shkkmo 4y ago

Veen 4y ago

> And now he’s backing off out of greed What do you think motivates the algorithmic trading company trying to buy the domain?

Ecco 4y ago
Agreed. I guess actually everyone is greedy in this story, but only one party doesn’t seem to be true to their word.
chronic83930 4y ago
Trading companies: we exist to make as much money as possible Tech companies: we exist to make the world a better place Everyone on this planet is greedy. - The church priest asking for donations - the homeless man asking for drug money - and the software engineer with competing FANG offers. At least finance people have the balls to admit it.

zamadatix 4y ago

He's had the domain since '94 and he's 79. If he's refusing to sell to someone offering double his original "go away" offer I'm inclined to believe he's truly not interested in selling the domain not that he's hoping to hold out even longer. However even if this was his long con on owning the domain having proposed a number in email seems unlikely to form a contract that he must sell it to them at that cost but I suppose we'll see.

lovehashbrowns 4y ago

Jump lowballed for $2500 knowing full well that was a trash offer for a domain like wormhole.com. The owner just figured 50k would be such a big number that Jump would go away. There’s no world where Jump should be suing this person. There’s no contract here. Jump is just being greedy and is trying to bully this person into selling the domain.

Ecco 4y ago
I’m sorry but I don’t agree. If you don’t want to sell, they say “this domain is not for sale”. If you say the price is a “firm $50k”, well, it looks to me like you’re willing to sell for $50k. And I don’t think he was bullied into coming up with this offer.
- lovehashbrowns 4y ago
  It looked to be 50k, but that changed. There was never a full agreement. You can change the price of something based on the buyer’s response. Happens all the time. Magic the Gathering, antiques, art, domains, Instagram usernames, etc. if someone starts salivating at a price you thought was wild, you’re obviously selling for too low.

juancb 4y ago

At which point he'll ask for 400k, and then 800k ad infinitum. He doesn't want to sell.

shepardrtc 4y ago
He should have just ignored them from the beginning.

jaclaz 4y ago

It seems to me a bit different. They offered initially $ 2,500. Then he replied saying that the price was $50,000. Then he rejected the offer of $ 50,000 and was offered first $ 100,000 and then (through a different agent) $ 200,000. Of course IANAL (and know anyway very little of US Laws) but if this corporation really-really believed that the $50,000 reply actually amounted to a binding contract, they should have attempted to have it respected immediately, the two later offers, doubled each time, sound nothing like "good faith" (probably irrelevant in court, still ...).

Ecco 4y ago
I agree with you. I think they were willing to pay more than initially agreed to expedite the process. Since it didn’t work I’m pretty sure they’ll ask the court to execute the sale at $50k.
- jaclaz 4y ago
  Well "more" (to expedite the process) is not double or quadruple. At least when/where the object of the sale has a value that can objectively be estimated. Surely a reply like "The domain is not for sale." would have been better, but considering a one line reply (to an unknown/unverified correspondent) a binding contract sounds (to me) more than a bit "off".
mr_toad 4y ago
> Then he rejected the offer of $ 50,000 You can’t reject your own offer!
- jaclaz 4y ago
  The offer to buy at 50,000, I meant. Maybe it is a translation issue, here (Italy) it is the buyer that makes an offer and the seller that sets a price or accepts an offer (or proposes a counter-offer).

ipaddr 4y ago

For some people 500 would be generous compensation to change an email address. Others 5,000,000. What your personal level is doesn't factor in. Not getting a current market value offer an blindly accepting isn't greed. Being 79 with a domain you carried for years can be worth more than 100,000 which after taxes is much less.

stjohnswarts 4y ago

We live in a free market, the domain is worth whatever people are willing to give you for it and not a penny less. Why should he give it up to make some crypto-bro happy? He's had it for something like 20 years.