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Site sold for U$ 15k, is gone from google, what happens now?

Discussion in 'Site Flipping' started by bartosimpsonio, Jun 23, 2013.

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  1. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    So, out of curiosity I've been tracking a Flippa sale. Website was sold for U$ 15.000(or more, can't remember)

    Was #2 for make money online.

    Now it's gone from the SERPs, though the domain is still in there....

    What happens now? It's also gone from Flippa now, even the ended search is not showing it, and it shows other sites. Have they been banned from Flippa? Did the buyer get his U$ 15k back? What happens in these cases?
     
  2. cashnone

    cashnone BANNED BANNED

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    all sales final :-(
     
  3. araqueli

    araqueli Power Member

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    The seller is not responsible for google´s algos changes... so what do you think?
     
  4. GiftGuru

    GiftGuru Supreme Member

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    If you think you are going to buy ANY site and after money exchanges the traffic party is going to continue with no efforts on your part, you are sadly mistaken
     
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  5. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    So the buyer paid U$ 15000 for a website which disappeared in less than a week?

    Also, why do you think it's gone from the Flippa search?
     
  6. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    So you think there was a device in place to keep the site up on SERPs until the negotiation is done? I know nobody is responsible for the Google algo, but isn't this a step short of fraud really?
     
  7. srb888

    srb888 Elite Member

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    Fact could be >>>
    The buyer is being scammed by all concerned. :( Fl!pp@ could have some/many rotten apples at/near the top.
     
  8. GiftGuru

    GiftGuru Supreme Member

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    Any site I control gets massive traffic due to my diligent daily efforts. As soon as I step away from it, anything can happen. There simply is no "I will buy a site because it is #2 on the SERPS and will stay there forever giving me great traffic and I don't have to do anything... yay!"
     
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  9. kvmcable

    kvmcable Supreme Member

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    Anyone spending that kind of money and isn't an expert in Due Diligence should be hiring an outside service to analyze the website. I know we have a few experts right here at BHW and Bryanon just teamed up with some of the best site flipping experts to create such a service. Although I've never used them, their sample report seems very thorough and well worth the investment before laying down 15 large.

    http://flippa.com/blog/due-diligence-data-at-your-fingertips/
     
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  10. IamNRE

    IamNRE Jr. VIP Jr. VIP Premium Member

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    Unless you have been sleeping, there has been a discussion going on about how to rank for tough keywords.

    It seems there are people using the method to rank for keywords, then selling the site(s) on flippa and the likes, knowing very well that the ranking will only last for a few weeks.

    The buyer thinks he has a site that is going to make him money for months.... but a few days later the seller redirects (hint) the domains that were ranking the site to a new site and moves on.

    It's a dog eat dog world out there man.... Sadly I don't think Escrow will help him get his funds back.
     
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    Last edited: Jun 23, 2013
  11. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    Incredible that they'd do that with such amounts of money. They get a few days to review the purchase, but I think this one lasted approx. 1 week so the funds must have cashed by the time it was taken down.

    The site is still up....but nowhere to be found.
     
  12. kvmcable

    kvmcable Supreme Member

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    If you study Flippa long enough, very little will surprise you. If you have the great pleasure of interacting with them you'd question how they've been in business almost 4 years (although they claim 6+ years of sales).

    Flippa is widely known for their double-talk. The only thing that surprises me about them these days is the FTC or other regulatory commission hasn't stepped in like they did back in the early eBay days when so much scamming was taking place. eBay tried to say they were a "hands off" auction format without control over listings. The FTC and State Attorney Generals saw it differently.

    Maybe that is why Flippa organized in the AU?

    Changes are coming to Flippa either voluntarily or under order. They can't continue down their established path of ignoring obvious scams and banking off them. They herald themselves as website selling gurus so ignoring obvious and flagrant scams on their website makes them informed and active participants to them. Every listing at the bottom says Flippa owns all the listing content (even the fraudulent information) so that makes Flippa a contributor to every scam that occurs from that fraudulent information they claim they own.

    Silly stuff such as allowing claimed traffic on websites with an Alexa of 0 would take about 5 minutes of programming changes. Allowing claimed revenue with bogus screenshots that don't even included the website's name or PayPal account identifiers is another such problem.

    I could go on and on but it's clear Flippa could clean up their website in hours if they took a genuine approach to fixing it. Instead they've chosen to be party to the scams by simply ignoring them.
     
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    Last edited: Jun 23, 2013
  13. UltraLink

    UltraLink Regular Member

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    Based on my first hand experience with the same thing, I'll tell you Flippa does virtually nothing except give you a standard message like:

    "We are looking into the matter and will contact the relevant authorities."

    They will not help you recover your money and I doubt they take any action whatsoever apart from MAYBE banning the seller's account.

    I was conned out of almost $10k in the early days of Flippa and never went back. Out of all the sites traded there I'd say more than 90% are garbage and less than 1% are a good deal.

    The sites in the big money niches are almost ALWAYS a scam waiting to unfold. You're safer looking at smaller earning sites though not much safer.
     
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  14. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    Interesting. Who would've imagined.

    What do you guys use for site flipping??
     
  15. UltraLink

    UltraLink Regular Member

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    Buying is an issue on Flippa, not really selling. That being said...

    If your website earnings aren't that substantial you can probably just list it on the top internet marketing forums and communicate with buyers there.

    If your website is a solid cash cow it's worth it to approach a legit broker and discuss a professional sale. These brokers usually have access to a legit buyer list along with other techniques to get you top dollar for your site.

    They'll normally charge anywhere from 1-10% on the sale price.
     
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  16. kvmcable

    kvmcable Supreme Member

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    I have a different vocabulary than most about site "flipping". Site flipping to me typically means selling a website created for the sole purpose of selling it. Those websites don't have the same foundation as a website built for long sustaining profit. The most those websites will earn is probably on the day they're sold to a new buyer. Just like other sorts of "flipping" (houses, cars, etc) the seller invests only in what is absolutely necessary to make the item attractive to new buyers. Rarely do they undergo a full off restoration and most have lots of skeletons in the closets.

    Site selling is where a site was built with a strong foundation, is a consistent money earner and is something that can be a wise investment. They aren't glossed over to cover all the defects and rarely sold for a profit considering the time involved to create such a website. Instead they're sold for compelling reasons where the seller is forced to sell for a loss. There are very few of these websites on Flippa.

    So by my definition site flipping is Flippa's marketplace. A flea market venue where knock-offs and exaggerations are not the exception but rather guides for successful selling. Placing a solid website on Flippa is like taking a Rolex watch to your local flea market expecting to get top dollar for it. Probably not going to happen.

    Legitimate websites are mostly sold through brokers these days. I believe the rate is about 10% which is quite a bargain considering their contacts and their solid reputation promoting your website. They usually perform the due diligence and relay this information to prospective buyers. While some where once very active on Flippa, I believe most have found greener pastures on other forums and marketplaces.
     
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  17. stevejohns

    stevejohns Junior Member

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    +1

    I think flippa is going to die soon, a lot of people have been scammed and legitimate sites wont auction their sites through flippa, instead they will get a private broker. Unless flippa will hire a team of PRO site analyzer to determine if the sites auctioned are scam or not, then I don't know why people still keep bidding there around 98/100 sites are pure scam.
     
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  18. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    Awesome feedback all round on this thread.

    I'm out of Thank You's for the day, but surely I appreciate all your tips. I am indeed surprised at the feedback about Flippa and especially this sale in particular. Live and learn.
     
  19. meathead1234

    meathead1234 Moderator Staff Member Moderator Premium Member

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    That will never happen. Firstly, from a liability aspect, they will never be able to "determine a scam". Any broker (or otherwise) who tells you they can is lying/asking for trouble. If Flippa implemented BASIC quality controls, I would expect their listings to drop by ~80% which would be a big hit to their revenue. They would also have the extra overhead of 1-2 new staff (who would have to know their stuff to filter listings efficiently) so would be a massive hit on net profit (I would assume to the stage where it barely breaks even).

    There simply isn't a big enough market for legitimate sites (mainly on the supply side) for a marketplace to thrive. There are plenty of buyers out there, but not enough sellers (and most sellers of decent sites want a discreet process Flippa can't offer). There are legitimate sellers of turnkey sites, but with Flippa fees it's not really a profitable game anymore unless you scam/shill bid/mislead or have an excellent upselling/management infrastructure in place. In the $5k-$100k range (the medium end of the market which would be viable for a marketplace - any larger you would likely use a broker) there really isn't much supply (which is why Flippa have been focusing quite a lot on premium domains). It's impossible to put a number on it, but the number of legitimate sites in that range that are sold on a monthly basis would not be enough for a marketplace like Flippa to survive. The majority of people you meet who have bought a site on Flippa in that range have had a bad experience (that's not the fault of Flippa entirely, just indicative of the market in general). If you shop for sites in the $100k+ range, you're far more likely to find a solid opportunity. Below that, it can become a bit of a gamble as you're often buying a site that relies on a single source of traffic/income.

    It's a bit of a catch 22 for Flippa: remove the scams and lose your revenue. Keep the scams, continue to diminish in size and one day end up with a nasty law suit. Flippa do try (publicly) to help stop scamming, but this is largely noise if they are not actively policing the marketplace for those breaking rules/obviously scamming (there are a very limited number of people with the experience to spot scams quickly on Flippa - and these definitely aren't the kind of people you can hire for $20k a year. You'd be lucky to get change from $200 an hour for someone who knows what they are doing.
     
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