Official Thread: NamePros LIVE Domain Auctions

[RJ]

This is the official discussion thread for NamePros LIVE Domain Name Auctions

To find out what the NEXT live auction is:
http://www.namepros.com/domain-name-discussion/592240-next-live-auction-at-namepros.html

We're essentially going to have 4 different formats for the live auctions:

1. $1 start, No Reserve Auctions
- All lots start at $1 with no reserve
- Fee: 50np$ listing fee per lot

2. No Reserve Auctions
- Bidding starts at reserve price
- Fee: 250np$ per lot

3. Regular Live Auctions
- Multiformats:
-- $1 no reserve lots
-- Reserve Price lots
- All TLDs welcome
- Fee: 250np$ per lot

4. Premium Live Auctions
- High value domains or lots only
- Fee: 1000np$ per lot

Fees are subject to change without notice.
Please note: You can now have upto 4 lots in each auction. :tu:

 

[jaydub]

If nothing meets your valuation...you just don't bother.
I hate the idea that anyone or a board is going to determine the "worthiness" of any name.
It is simple....peruse the list as it is easy to do. If anything works for you ...wonderful. Place a bid and see if you get it. If not....carry on and check next week.
I find the best names are the ones I have to dig and work for.
You have your valuations kev and the domain owners have theirs...
The market will ALWAYS determine the value of a name and the owners that really want to sell figure that out and make adjustments. There are always those that want more than what you want to pay or possibly what some think it is worth...doesn't mean they are wrong.

Buy/bid on what's doable...don't sweat the rest...

:hehe:

j

Still think theyre should be moderation when submitting names. Some of the names didnt even warrant a $1 bid. I wont be participating in these auctions until the quality improves.

Thats why nobody was bidding. Your not going to attract the big players with names such as sgard.com.

 

[Halo Jones]

If nothing meets your valuation...you just don't bother.
I hate the idea that anyone or a board is going to determine the "worthiness" of any name.
It is simple....peruse the list as it is easy to do. If anything works for you ...wonderful. Place a bid and see if you get it. If not....carry on and check next week.
I find the best names are the ones I have to dig and work for.
You have your valuations kev and the domain owners have theirs...
The market will ALWAYS determine the value of a name and the owners that really want to sell figure that out and make adjustments. There are always those that want more than what you want to pay or possibly what some think it is worth...doesn't mean they are wrong.

Buy/bid on what's doable...don't sweat the rest...

:hehe:

j

Agreed .. of course you could raise the fee in accordance with the price the seller wants to set, might get rid of people willing to lose $5 to try their luck

 

[mwzd]

Good idea HJ, sliding scale fee structure :tu:

$1 for $1 no reserve lot
$5 for $15 reserve to $200 reserve
$10 for $200 - $500 reserve
etc

Or like nd said - no listing fees, auction lots on approval basis, final value fee.

But again its all currently conjecture.

RJ, NPQ and Jen are working on the final modalities.

But expect some updates soon in any case.

 

[Archangel]

There really needs to be a pricing structure. I've seen names today that sold for $2. Listing fees are $250np and that costs about $5. So these sellers have lost out on a proportionally large amount.

Here's an idea:

NO RESERVES -- EVER. ppl submit with the lowest they'd be willing to sell for. There is no logical point in using a reserve.

For auctions starting at $1 there would be no listing fee but submissions would need mod approval (since there will likely be dozens of these submissions)
For auctions starting at $2 to $20 let's try $50np (about $1 real money)
$21 to $50 could be $100np
$51 to $100 @ $150np
$101 to $250 @ $200np
$251 to $500+ @ $250

I doubt ppl would list garbage if the rate was high and they'd be more willing to list decent domains too.

JMHO

BTW For those from the auction wondering -- I typed the number 1 with an on-screen keyboard :p

 

[JoeBiz]

Finally - Something New ... to me

.
Can someone tell me when and where we can pre-submit for the Tuesday auction? I know it might be a bit too soon to be asking.

That's the first live auction for domains that I have participated in. Kind of gets the wheels spinning again. I am so weary of traditional auctions.

Thanks
Charles

 

[Archangel]

Keep your eyes on this page:
NamePros.com - Live Auction

Right now you see auction results. Once the queue is open for the next auction -- you'll see the form

.
Can someone tell me when and where we can pre-submit for the Tuesday auction? I know it might be a bit too soon to be asking.

That's the first live auction for domains that I have participated in. Kind of gets the wheels spinning again. I am so weary of traditional auctions.

Thanks
Charles

 

[JoeBiz]

Thanks much for the input Archangel.

---------- Post added 07-10-2009 at 12:22 AM ---------- Previous post was 07-09-2009 at 11:58 PM ----------

.
When you queue a domain or two are people able to bid (or pre-bid)?

 

[Archangel]

Thanks much for the input Archangel.

---------- Post added 07-10-2009 at 12:22 AM ---------- Previous post was 07-09-2009 at 11:58 PM ----------

.
When you queue a domain or two are people able to bid (or pre-bid)?

Glad to be of help

When a domain is in queue it can be bid on. During the actual auction: Typically all domains with a pre-bid that reaches the domain's reserve are auctioned off. If a domain has a bid that's about 40% of its reserve, the domain is auctioned off. Then I think all $1 reserves are auctioned off. Pre-bidding is still allowed during auction for domains that are still in queue. After everything mentioned earlier i auctioned off -- the auctioneers will look in the queue to see if any other pre-bids were made. If there are any that meet the above prerequisites, they are auctioned. Once this second process is done -- auction ends. All auctions that never saw the auction floor are refunded

 

[Alan Glennon]

Has the 16 July auction been canceled? The top banner now reads the next one is "To Be Announced".
(( Schedule updated. Next auction is: Thu, Jul 23, 2009, 6pm EST ))

(( now fixed )) Also, the site's main upper banner states: "Results from 7/23/2009 No Reserve Auction". This date has not yet occurred.

 

[RJ]

The July 16th ccTLD-only only auction has been canceled. Our next event will be Thursday, July 23, 2009 and feature "high priced" domains (reserves > $1000) in the first part of the auction . The second half will feature a variety of names and reserve prices as we usually have.

Submissions for the July 23 auction will open on Sunday.

 

[zoogo]

There really needs to be a pricing structure. I've seen names today that sold for $2. Listing fees are $250np and that costs about $5. So these sellers have lost out on a proportionally large amount.

Here's an idea:

NO RESERVES -- EVER. ppl submit with the lowest they'd be willing to sell for. There is no logical point in using a reserve.

Archangel makes a good point here, that the min. should be more than the listing fee..

As for the second thing I quoted here, that IS what a reserve is man, unless you mean the starting price is the reserve they set - in which case, no, this is a bad idea, because people value their domains stupidly sometimes, and by starting the auction @ a low price, they can see who bids up to what amount and they have the option of approaching the users later once they see a more realistic view of what their domain will fetch.

Keep in mind that for the most part, the domains in these auctions are going to what we appraise as "resellers" so its usually significantly less than you'd get from marketing to an end-user.

I also believe that if we switched from a $NP to list toa $NP/$Paypal final value fee system, NamePros auctions would get MUCH more listings and in turn see MUCH more profits - as long as the actual numbers were at least somewhat akin to the rates being charged pre-listing now.

Also, I have not read the rules, but there should be some option where if your domain does not sell, you get your listing fee back. That would also encourage more people to enter, however it would require that the administration steps in to value domains so no one could just do it for the free traffic. Although this suggestion is unnecessary if you take my agreement on the one aforementioned by another member, which I believe is much better, of charging only a final value fee.

I would suggest, though, since higher reserve auctions have less likelyhood of selling by and large (based on the quality of the domains I've seen for those prices so far) that even if you do make it a final value fee system, those domains priced on the higher end of the specctrum also require a $NP non-refundable listing fee to prevent people from just listing to get free publicity.

 

[snowbird]

Also, I have not read the rules, but there should be some option where if your domain does not sell, you get your listing fee back.

Actually, from past experience...

Domains that get prebids, usually move up in the live auction queue so that the domains of most interest get auctioned off first. If your domain does not get any prebids, it still may appear in the live auction but there is no gaurantee. If during the live auction they do not get to your domain name, you will usually get a refund for your listing fee. If the auctioneer does get to your domain and it does not get any bids or sell for what youd like it to, there will be no refund. The listing fee is so that the domain will appear in the live auction. Simple as that.

The rules may have changed since the site was upgraded and such, but that has always been the policy in the past.

 

[mwzd]

RJ has something big in the bag, all I'm going to say now :D

All your ideas and suggestions will probably be incorporated in some form.

Should be interesting. :tu:

 

[namenut]

RJ has something big in the bag, all I'm going to say now :D

All your ideas and suggestions will probably be incorporated in some form.

Should be interesting. :tu:

I know what it is :O


NN

 

[Archangel]

I know what it is :O


NN

Any insight? lol

 

[Jaco]

The purpose of a reserve is rooted in basic auction psychology.
For fixed time auctions, they blow. For real time auctions, they serve a role on the sellers behalf.

There is a role for the absolute auction, there is a role for the reserve auction.
If you want to attract better names, you'll have to permit them, but that isn't to say from time to time, you can't run an absolute auction where everything submitted goes for bid.

I do totally, absolutely agree 100% that names submitted for real time auction should be vetted for quality. One cannot submit limited edition, Elvis Presley collector plates to Sothebys. Given that such an inordinate percentage of names are utter garbage, I support vetting of submissions. So some people get their feelings hurt when the name they thought would bring thousands isn't even worthy of admission. Oh well. Better to run a good show with decent quality that might 'attract the paddles' than to run a junky flea market full of garbage that disappoints first time visitors.

Lurk around the various "Look What I registered" threads and it should be immediately apparent who is capable of doing the vetting and who isn't.

 

[Archangel]

A big issue with reserves is that they limit bids. It's a historic fact that items with reserves receive less & lower bids since ppl want to bid on things at which they know is guaranteed to sell to the highest bidder.

So yeah a reserve might have some meaning to the owner but they are still a waste of everyone else's time & make auctions lag.

 

[Jaco]

So yeah a reserve might have some meaning to the owner but they are still a waste of everyone else's time & make auctions lag.

When was the last time you either bought or sold something at auction four figures or higher?

 

[Soofi]

When was the last time you either bought or sold something at auction four figures or higher?

what is reserve price's connection with him buying/selling 4 figure or higher price tag domains???
Dont try and flame other members, until and unless you've made a valid point wit reasons..

respect everyone and their opinion!!

 

[namenut]

Any insight? lol

OK ..... I'll prolly get in trouble for letting this get out
but oh well. The big news is..... Totally NUDE auction. :lol:
That's right. Everyone has to be nude to participate.

I hear there may be a webcam verification process :O
NN

 

[Soofi]

the big news is..... Totally nude auction. :lol:

:sold:

 

[Archangel]

When was the last time you either bought or sold something at auction four figures or higher?

I've never had luck selling for high prices at auction

---------- Post added at 04:27 PM ---------- Previous post was at 04:26 PM ----------

what is reserve price's connection with him buying/selling 4 figure or higher price tag domains???
Dont try and flame other members, until and unless you've made a valid point wit reasons..

respect everyone and their opinion!!

Damned right :D

---------- Post added at 04:29 PM ---------- Previous post was at 04:27 PM ----------

OK ..... I'll prolly get in trouble for letting this get out
but oh well. The big news is..... Totally NUDE auction. :lol:
That's right. Everyone has to be nude to participate.

I hear there may be a webcam verification process :O
NN

Damn. I can't enter then. I'd blind the NP girls with beauty

 

[mwzd]

The big news is..... Totally NUDE auction. :lol:

Oooooh, previous ones weren't?

Thanks for telling me :lol:

I'll wear my speedo's next time :D

 

[Soofi]

Oooooh, previous ones weren't?

Thanks for telling me :lol:

I'll wear my speedo's next time :D

Nude means ZERO cover paji :lol:

 

[Archangel]

Oooooh, previous ones weren't?

Thanks for telling me :lol:

I'll wear my speedo's next time :D

Clothing optional