[Jennifer]

There have been some issues regarding forum auctions recently, so I've decided to write up a little article for NP'ers - I wasn't really sure where to put it, so I hope this is a good spot. If not, please feel free to move it.

Acceptable Forum Auction Techniques

When you list an auction, be sure that the title is not misleading. You will lose a lot of potential bidders if you lead them into a trap. For example, if you are selling ik7.org and your title says "Rare - 3 letter domain name" - that is a blatent mis-lead! Your title should essentially be a summation of what the auction truly is. In this case, a good title would be " 3 Character Domain - ik7.org" - You don't even have to include the domain name in the title as long as you represent it properly.

Once you've got the title down, there a couple of important things to remember to include in your auctions.

*required for success

1. the domain name*
2. registrar*
3. date of expiration*
4. any traffic or link pop info (if applicable)
5. starting bid price*
6. bid increments*
7. reserve (optional)
8. auction end*

1. Of course, people need to know what they are bidding on. Be sure to list the domain name accurately. I've actually seen auctions end badly because the domain name was spelled incorrectly in the auction.

2. Be sure and list the registrar where the domain name is registered. This is very important to some and not so much to others, but it's better to have it listed straight out of the gate so there's one less question to clog up your sales thread.
????: NamePros.com http://www.namepros.com/domains-for-sale-auctions/40802-acceptable-forum-auction-techniques.html

3. The date of expiration is important. People like to know how much time is left on the domain name they are bidding on, and it's only fair. Again, this will keep the junk posts out of your sales thread.

4. We all know traffic is king, so if the domain name you are selling has any traffic or link popularity, be sure and list it - and be prepared to have proof. With very good reason, people can't just take your word that a domain name is getting 5000 unique visitors per day without some form of proof. Have your stats available at the time of auction.
????: NamePros.com http://www.namepros.com/showthread.php?t=40802

5. The starting bid is the bid that will get the ball rolling, so to speak. This price is totally up to you, but it must be stated in order to have an auction. Some people like to have blind auctions, which is when you have the first bidder name the first bid. Just be prepared to have an opener of $1.00 with this method. Price your domain names accordingly. Unless you've got a true gem on your hands, a starting bid of $1,000 won't get much attention. Low starters usually end bigger in my experience.

6. Bid increments are important. You cannot have an auction without setting the bid increments. The increments are the minimum dollar amount for the next bid. So if the bidding is at $26 and the bid increment is $2.00 - the next acceptable bid would be $28. It's ok if bidders exceed the set increment, in fact, it's wonderful and most often times celebrated.

7. Setting a reserve price is optional. It doesn't work very well in forum auctions, so again, unless you have a total gem on your hands, I would recommend not setting a reserve price in a forum auction. Many bidders walk away from a reserve auction because there's really no way to monitor the reserve price.

8. Set an ending time. You can't expect people to open up their wallets and pocketbooks for an uncertain auction. Be sure to include the (weekday) month, day, time and time zone - because we are not all in the same spot on the globe. Example: Auction Ends: Wednesday, July 28th at 5:00pm EST. - This method leaves little room for question, and everyone is happy. [Addendum added 7-16-05]

One last thing to remember. Once you've set up an auction - don't alter it or change it. You can add bonuses and extras to encourage bidding, but never ever change any of the above items. Not everyone bids the very moment they see the auction. Give it time. If no one bids on the first run, list the auction again.

Hope this helps... If you have any questions regarding this post please feel free to pm or email me.

Good luck with your auctions -

Jennifer

[johnny6]

Thanks Jennifer - that needed to be said. Check out my normal auction format for here - works well, no confusion.
http://www.namepros.com/domains-for-sale-auctions/40762-nhx-us-for-auction.html

[Jennifer]

Perfect John-

Your post is a great example of an acceptable auction. In fact, it is so good that I may have to jump up there and place a bid

Thank you for pointing us to your auction for an example.

Jennifer

[AdsenseGuy]

Cheers for Jennifer

Its about time, There are so many new members that do not follow the etiqutte of the auctions that I have personally decided its not worth the time or effort to hold them here. I have asked the admin staff if we can have an auctions only forum to eliminate alot of confusion between auctions and sales threads.

Apparently new members are making a mockery of the auctions here at NP and it just isnt as much fun anymore.

If everyone would just follow the simple rules you outline above all auctions would be much smoother.

I have had a few auctions lately and i now have to include the disclaimer

***I will not accept offers from New Members or anyone with a NP trader rating of less than a positive 10 *****
????: NamePros.com http://www.namepros.com/showthread.php?t=40802

I feel that if I am being a business professional as most here are, then I deserve the same respect.

Ok im done my rant of the day....Cheers all

[csmaster2005]

good tips jennifer.

Adsense guy-10 is a bit too much IMO

[Matt]

Absolutely Agree With all of you

To be honest, I find it hard to sell anything here at namepros anymore Be it auction OR straight sales. I've put $200 names up for auction, and they've gone for less than $70

The biggest problem is removing the "sniper" aspect.

Rgds
Matt

[Rob]

I too have noticed that auctions are not following any format, people not bothering to provide any information with their domain. Wish everybody would follow this post Jennifer!

Excellent tips - I am sure people will link to this thread

[Jeff]

Excellent post, Jen (and duly noted as "Post Of The Day" here on the site, as well)!
????: NamePros.com http://www.namepros.com/showthread.php?t=40802

Unlike Matt, I've actually had very strong Wholesale sales - $525+/+ since ~7/12 - here on the Namepros site, but I would agree that there has been some recent disorder with the listings, IMHO.
I think if everyone makes their initial Offering posts in the format above - very specific - then we should be in pretty good shape going forward. Also, I've had some PM complaints of "extraneous postings" in the Sales threads ... these must stop, per the posted Sticky in the "Domains For Sale" Forum. Think before you post, please!

We are growing rapidly, so we ALL need to pull together - as Jen has here with this thread - and help each other out, and exhibit mutual respect in my view. Staff™ is discussing ways to make things more efficient and productive in the Marketplace Forums, as well!

Final note (personal opinion as a Buyer/Seller): On this matter of posting to the effect of, "Seller reserves right to exclude bidders.", I really think that should one decide to post in that manner in their Sales threads, to reasonably and professionally QUALIFY it ... as I know, personally, the blanket statement kind of puts me off from even considering bidding (as I don't know if it's intended for me, or not). Maybe my "high bid" won't be accepted in the end, as perhaps I've been excluded in the Seller's mind?
Just my two sense.
Thanks, folks.

[Coastalguy]

Thanks Jennifer!

I've been preaching for this info to be standard for all auctions/sales threads.

Nothing I hate more than having to look up registrar, expiration, etc, etc. Quite often I say the heck with it and move on to another thread.

Congrats on Post Of The Day!
ST

[armstrong]

Quote:

The biggest problem is removing the "sniper" aspect.

Sometimes its fun joining in as a sniper, because of the 'danger' of losing a name one really wants just to try to save a few bucks.

But when auctioning off an excellent name, its may be advisable for the seller to impose anti-sniper rules, such as "Auction will be automatically extended by ten minutes if someone makes a bid with less than 10 minutes left in the auction."

Kinda takes some of the fun out, but hey ... life is full of trade-offs.

[dgaussin]

Great article Jennifer, I hope new members read that but not sure...

And like an example where owner changed the auction ending time, you can see http://www.namepros.com/showthread.p...threadid=39229

Thanks,
David.

[bensontwenty]

Quote:

Originally posted by armstrong Sometimes its fun joining in as a sniper, because of the 'danger' of losing a name one really wants just to try to save a few bucks. But when auctioning off an excellent name, its may be advisable for the seller to impose anti-sniper rules, such as "Auction will be automatically extended by ten minutes if someone makes a bid with less than 10 minutes left in the auction." Kinda takes some of the fun out, but hey ... life is full of trade-offs.

Being a closet sniper myself I would have to agree - I don't like Buy it nows as this defeats the purpose of the auction and I think I made clear my feelings on reserve prices a couple of months back. I would have to agree that if a seller genuinely feels that a name is worth a fair bit, then introducing the 10 minute would make sense however I would hate to see it introduced on every single auction as then how could we snipers pick up some true bargains then
????: NamePros.com http://www.namepros.com/showthread.php?t=40802

Just my twopence/cents/euros or whatever currency we chose to deal in!

[drmaximus]

Quote:

Originally posted by dgaussin ????: NamePros.com http://www.namepros.com/showthread.php?t=40802 Great article Jennifer, I hope new members read that but not sure... And like an example where owner changed the auction ending time, you can see http://www.namepros.com/showthread.p...threadid=39229 Thanks, David.

Great article, and I hope all newbies are introduced to this suggested requirement. Adding to David's comment, I wish to add that the definition of a reserve price should be well- and officially-established. If a highest bid below the reserve price is open to consideration, then state so clearly or else it completely conflicts the meaning of a reserve price.

For more information, follow this thread which details an auction in which the highest bid (way below the stated reserve) was ultimately successful. Not thoroughly professional, IMHO, and requires clarification for impartiality and for the good of all.

http://www.namepros.com/showthread.p...threadid=27600

[eSology]

Thanks Jen. I still love NPs but felt over the summer the maturity level of the "community" has went south and one area in particular was the Sales Threads. Hopefully this will help to give some guidance in that part of the forum.

[johnny6]

Maximus, dude, that was like 4 months ago. I meant buy not reserve. I made a mistake. It is a good example of a bad auction though.
Later namepros.
jsh

[redhippo]

thanks Jennifer, things are clearer now. i have always wondered how to run an auction
and wondered what was the meaning of "buy-now" price!!

it will be good if there is a standard auto "form" to fill in , something like the appraisal!!

[Coastalguy]

I would add 1 more VERY IMPORTANT topic for all auctions/sales:

If the name is a typo, it should be mentioned.

ST

[netPH]

Hello all,

I guess Jennifer meant this type of auction

http://www.namepros.com/showthread.p...threadid=40828

[Coastalguy]

Rostum: I've had problems in the past when saying the auction ends "24 hours from this post".

I've since clarified it by saying:

"A bid at 2:19pm eastern is good. A bid at 2:20 pm eastern is 1 minute too late"...just an example.

It sounds redundent but you would be surprised of the controversy that arises if things aren't absolutely clear. If you are auctioning off a popular name and the sniper bidding gets heated, you don't want any gray areas.

Just a thought (nice layout BTW),
ST

[drmaximus]

Quote:

Originally posted by Coastalguy ????: NamePros.com http://www.namepros.com/showthread.php?t=40802 Rostum: I've had problems in the past when saying the auction ends "24 hours from this post". I've since clarified it by saying: "A bid at 2:19pm eastern is good. A bid at 2:20 pm eastern is 1 minute too late"...just an example. It sounds redundent but you would be surprised of the controversy that arises if things aren't absolutely clear. If you are auctioning off a popular name and the sniper bidding gets heated, you don't want any gray areas. Just a thought (nice layout BTW), ST

Whenever I have auctions, I try to remind myself to add something to the effect of: "Auction ends at 2259hrs EST, a bid time-stamped 2300hrs EST is deemed unsuccessful"

Also, I try not to end flatly on the hour. Ending at 2259hrs, somehow, is much clearer to me than ending it at 2300hrs. But that's just me!

[Jennifer]

Beautiful auction form netPH! Another perfect example!

I agree with you CG... typos should be clearly stated to avoid any possible mishaps.

Now let's work together to make the sales forums a great success for all of us!

We all just need to take an extra few moments to make sure our auctions are at least visually appealing, and user friendly.
????: NamePros.com http://www.namepros.com/showthread.php?t=40802

*Another thing that I am realizing over time is that auctions listing multiple domain names at once in the same thread fare far better than a single domain name auction.

Has anyone noticed or experienced this personally?

I just want to thank everyone that posted for supporting this thread. It has become a very important issue as of late. The best thing we can do as "professionals" is keep setting the standard...

Much Success to all-

Jennifer

[Jennifer]

(I have created this quick, and easy cut and paste template for those that are less experienced with forum auction format. Simply download the txt format, cut and paste it into a new thread and change the info to your own.)

The following is how it will look before you change it.

Good Luck
Jennifer

*****************************************

Short intro, or welcome goes here.

Domain Name: ForSale.com
Registrar: eNom or other
Date of Expiration: 00-00-00
Link Popularity/Traffic Stats: if it applies (otherwise delete)

Here you can place a small description, or possible uses for the domain name. You can also mention some freebies that come with the auction, like logos etc

Starting Bid: $xx
Bid Increments: $x

Auction Ends: Tues, July 29th at 8pm EST

Forms of accepted Payment: Paypal, other etc

Your closing goes here

[csmaster2005]

Quote:

Originally posted by armstrong ????: NamePros.com http://www.namepros.com/showthread.php?t=40802 Sometimes its fun joining in as a sniper, because of the 'danger' of losing a name one really wants just to try to save a few bucks. But when auctioning off an excellent name, its may be advisable for the seller to impose anti-sniper rules, such as "Auction will be automatically extended by ten minutes if someone makes a bid with less than 10 minutes left in the auction." Kinda takes some of the fun out, but hey ... life is full of trade-offs.

I love sniping, that's how you get the good stuff cheap

[Jeff]

Please remember!

Quote:

Please include in the Sales/Auction listing(s) information about where the domain(s) are currently Registered (the Registrar), and corresponding Expiration Date(s), as well ... this can help potential Buyer(s) to best decide and make an informed and more timely decision. ????: NamePros.com http://www.namepros.com/showthread.php?t=40802 Thanks much.

These are Jen's points #2 and #3 above in her intial post, as well.
Good Luck with your auctions!
-Jeff

[IAmAllanShore]

There have been a few auctions that are mysteriously "pulled" without explanation. Personally, I think it to be bad form if an auction is pulled simply because either 1) The price wasn't as high as the seller liked (and no reserve mentioned in the listing) or 2) They find a better deal elsewhere and no longer wish to or can sell the domain here.
-Allan