About 3 years back I joined Hexonet.net as they were just going to start taking backorders for .cc domains. I read their FAQ’s and found that if there are two or more person the domain will be auctioned. I thought that’s fine and I backordered one domain, made upfront payment. The domain was successfully grabbed by them. Later I found there were only two bidders including me so I thought it’s good and I will get the domain at bargain but I was surprised to see when they put up that domain at GoDaddy Auctions which was open for everyone to bid and can be the new owner of the domain!
This really frustrated me. I contacted Hexonet, the company’s CSO replied back and tried to make me understand that currently there is no auction platform of their own so they are auctioning at GoDaddy Auctions. I told them it’s fine but you must put only two of us and make it private auction which he rejected. I asked them to refund my money back and refused to place any more backorders in future. That domain went over US$1,000 whereas I could have easily got for US$200-US$300 if done privately between the auction participants only.
After a year or so they came up with their auction platform but I will never place any more backorders with them. I am not sure how their current auction platform is but I would never recommend anyone to give backorders through them. There are better places for .cc backordering like DomainMonster.com and Name.com which are having more successful ratio compared to Hexonet.net
Have you experienced with Hexonet.net? What are your thoughts and suggestions?