What punitive actions are taken for failed auction buyer?

[KathyH53]

This has happened twice ..a "buyer" placed a bid, I accepted the bid, the domain name remained in 'Pending buyer purchase status'. Emails were sent back and forth between me and auction@godaddy.com. I then get an email from Godaddy stating "We regret to inform you that the buyer of (the domain name) has advised us that they are now unable to complete this transaction and pay for the domain. We have taken punitive action against their account and we apologize for any inconvenience. You are free to relist the domain for sale." What punitive action is taken by Godaddy to discourage would-be buyers from failing to follow through on the purchase of a domain name?

[MrVapor]

@KathyH53 

From my experience as a one-time GD employee, that tends to result in a trip to the Office of the CEO (virtually, of course) and they may get "fired" for doing unethical business. Sometimes they have to pay a fee for their actions because GD has to pay for the transaction as well. There are lots of policies they have to ensure that the system works most of the time. There are a lot of scam artists out there, however, and GD is the largest domain seller in the world.

[KathyH53]

Thank you for your response.