Nice domains and nice sales !
@wwwweb Agree. They MUST improve online bidding, e.g. people bid +100$ +500$ on the floor, but online you have only +1k$, etc. option. Jumping of $10-100k up and down is completely crazy: "next bid is +$xx xxx, OH, NO, next bid is -$xx xxx now )) I put $1.6k on one domain, bid was shown as pending, AND... domain is sold for $1.5k
@Michael Ehrhardt "MEZ" is a US TM in multiple classes, including 042 (SaaS), same as many other TMs in this auction - safe way to lose money.
Anyways, nice experience
Thanks for sharing but I find these domain names / sales boring because of the used TLDs.
Thats my viewww
Anyway, still my congratulations to all sellers of course.
Whoever wants, can dislike my post nowww
Really no problem hahaahaaa
Exactly. People are so naive.
its the GOOD OLD BOYS CLUB bidding up their friends names trying to find a sucker in the crowd.
Yes OL.com sold, I do agree about the bidding has to change I always live tweet and we had a fun night with different people chiming in. The one thing I did tweet out was:
But this is why this auction is so much to sit through, names get to $600,000 but no sale? Do people believe the below reserve bids are real? Who knows but it's boring as f*ck.
I just think Monte feels he is the expert on this and he is not going to change something that has been very successful for him.
I think it would be better start at the lowest price the seller would take, I mean CPU.com got to $608,000. I did a poll here if you owned CPU.com would you sell for $600,000?
the most noticeable thing in cpu bidding is the buyer who did bid 607000 and he was aware that reserve can meet because its between 6-7 range... now my point is if that guy who did bid of 607 he was very near to reserve then why he left so something is obviously suspicious here...
voting done... i would never sell unless i am in need of urgent funds... but the man who bought this domain i dont think so he want money that much urgently...
this domain is priceless and could be turn into cash cow
Fairly decent auction. I think domainnames.com and leads.com sold for deep discounts. Sure OL.com will sway the average sale price but all in all I felt the quality of names selected for the live auction were not nearly as good as other names that could have been selected for the live auction. A few I thought should have been in:
nut.com (So many different applications)
advertisingagency.com (Speaks for itself)
texasholdem.com (It is Vegas, if you can't sell this name there, then where?)
heartdoctors.com (Huge medical application)
create.com (We are all creators)
celebrityphotos.com (In the social media age with IG, seems like no brainer!)
triallawyer.com (High paying conversions)
gunrange.com (Looks like a lot of the work is done)
I think these would have propelled the average price and overall quality as well as the median sales price. Just my two cents...Anyone else see names they thought should have been in but were not included?
The whole point of an auction is to know something is going to sell. Given many were complaining that they submitted half decent names, and kept getting rejected why would they accept names with 7 figure reserves?
I believe there is enough sellers with good liquid domains that would roll the side with no reserve in a industry auction.
If I spend time at an auction, I want to find value in my bidding time, and know it is going to sell. I was following online, and it was a very dangerous venue as the floor would be $3k, and the online button would say $50k,
Things should sell cheaper at auction, especially a multi platform venue, that is the whole thrill of an auction, nobody goes to an auction to pay full end user, it is the thrill of the hunt. It’s not like these are rare pieces of artwork that have been locked up, if anyone wanted to acquire them, they have been available for sale.
Yoi could have the best names in the auction, if they have 7-8 figure reserves it’s not going to make much of a difference.
I don’t think there was a better venue to try and sell domainnames.com, lots of registry partners in attendance godaddy, epik, Uniregistry. I mean would godaddy miss $370k, and purchased domains names as a redirect to namefind.
The online part of the auction was CRAP this year. the prices didn't match up and it screwed everyone up. Also I don't recall Monte getting so involved with the auction the previous years. Definitely a big fail on how the auction went.
They need to not auction off crappy names with high value names. Setup an auction for domains under 50k and one for reserves over that... This is like trying to sell a classic car and then auctioning off a used Honda Accord.
They are not going to run two live auctions, I think what would at least be better is to auction the lower valued names first, so the first 60 lots are going to be that quality, so you know if you only want the higher priced names to tune in or sit down at lot 60.
TexasHoldEm with a reserve over $1million was not selling in live, anyone in Vegas interested in that name at that price would have come a calling years ago.
Did any of Brent Oxley's collection sell?
I've seen at some Car Auctions where there's a reserve. But if bidding gets high enough the seller decides to "pull" the reserve and let the car go to the highest bidder. Maybe they should consider something like that for Domain Names...
Is the Broker Commission 30% (even for large sales)? Say a seller has a $1Million Reserve - but would only net $700K after commission (assuming 30% Fees). I think if the bidding gets to $800K, the Auction House should say ok, sell the name and we will only take $100K commission. The seller gets his $700K, the Auction House gets $100K in Fees (instead of zero), and the Buyer gets a $1Million dollar name for $800K. That's a Win, Win, Win...
I like your above idea but I don't think any person who loves "middle man commission" would agree on lowering the commission. After all its free money & everyone love free money.
His reserves were high, I believe domainnames.com, and leads.com which belong to web.comm both sold though.
He got some great PR, but nobody even got close to give.com etc...
Best case for auctions are when there are motivated sellers, not rich guys who are bored of their domains.
Just my opinion of course, but this auction may hurt some of the value of his domains going forward. He most likely would have been better off going with a broker that would have grinded some end users.
Using classic car auctions as an example. When a unique car is auctioned and it does not sell, the market narrows and depreciation occurs. Domains may be no different.
For that reason you should only put domains in auction if you are willing to liquidate with a low reserve. On the flip side, the auctioneer should only allow low reserves. This is basic auction fundamentals that allow for a good experience for all.
Some of the names he has bought he has got at good prices. Many brokers when they come across a good one word.com, have a few guys that want first crack at then, he is one of the go to guys that brokers love as he admires domains, and has deep pockets, and pays quickly. Hence the analyze.com acquisition which became a huge mess when the owner promised a few other people, then found Colby who quickly flipped it to Oxley.
Yes, you nailed it. It was a hot mess not real stucture, the auction would go from leads.com, to prostitute.org with no real structure. Online was impossible to bid, as what was being said, was not lining up with what was showing up on the bid button. It would be one thing, but having $50K bid buttons live, when the auction on the floor was in 4 figures is very dangerous.
Having sat live at many of these auctions (NamesCon and TRAFFIC) this was not much different. I think this might have been only the second one I watched online (Cancun sounded better than Vegas right now!).
Here are some of my random thoughts about it:
Personally I kinda think the auction is mostly a waste - its best for low level $0-$20K domains and its more like a swap-meet of people getting rid of their junk they've been holding too long... They are also prices that people can make impulse decisions on that suits the auction format.
if you're serious about buying or selling a good domain you're better off finding a broker and targeting the right audience. Problem is that brokers don't take low value domains because there's no money in it. OF course low value is very subjective. I asked Kate Buckley to broker a 6-letter one word .com domain a year ago and she declined. Just sold it myself for $150K. So it just goes to show that even brokers aren't an option for anything but the best domains. I'm sure I could've found another broker for this domain, but I tried her simply because she had just sold a VERY similar domain.... Anyways... I guess the point is, you shouldn't be selling a premium .com in these auctions unless you really need to liquidate - and even then I'm not sure its the best option. Sometimes I think guys just like seeing their domains in the auction even if it doesn't sell. Maybe some kinda ego stroke.
My take is that this auction was really no different than any of the others. There's always some confusion between the online and live auction bids - it aint easy to be the auctioneer for just a live auction let alone mixing in online bids and having some tech guy try and keep up posting data back and forth into the online system. Monte was just being the backup eyes to ensure the Auctioneer and online components were in sync. The real problem was that Monte wanted to push the pace because there was a long intro with the awards and these auctions have a long history of running way longer than advertised. So the auctioneer's pace was just a bit too fast for the online component to keep up smoothly.
Also, there is always a mix of low-level crap with no reserves with high level stuff with ridiculous reserves. I only say ridiculous, not because they aren't worth every penny, but because they're selling it in the wrong forum. You're not going to get end-user pricing out of any domainer looking for wholesale prices they can take a chance on. Monte is lured by the commission just in case it _might_ sell - so he's not going to pass up that chance. Even if one on 50 upper 6-figure/7-figure domains sells, its not money he's ever going to pass up, even at the risk of making the auction a little disappointing with all these great names going nowhere. So anyway, they always mix in the small sh*t that will sell with the big stuff that wont - just so it doesn't get too boring with a long streak of no sales....
I'm a little surprised at the price of insurance.us - but its just a sad commentary on .us in general. Sad and inexplicable even with the lack of promotion .US has had, it should easily be more valuable than that - along with other primo .US domains... Then again, that is a wholesale price so an end user could still be willing to pay good money. Again I think to myself "why are you selling a domain like that to a crowd of domainers???". I guess if you do outbound sales, have no luck, but then decide to liquidate a bunch of inventory so you can move on to other things, I guess it may make sense to just rotate that inventory. I think he gambled on the no-reserve and lost...
The main domain that made sense to sell in this auction was DomainNames.com - thought it should have went higher - but at least it was the right audience.
Regarding bids just under the reserve - I'm 99% sure that in the past they have dropped the reserve live on the floor so that a domain will sell. Monte can and has dropped some commission to make that happen (at least it did many years ago). In these auctions it is usually always the sellers right to drop the reserve and accept a lower bid - and it will be binding. So if you're some newb thinking you're being cute bidding under the reserve - be careful - that can come back to bite you in the ass. I tend to believe this is more the case than buddies bidding up domains for their buddies. When a well-respected domainer bids to a point well under the reserve, its kind of a way to make a point that your bid is a legitimate wholesale price in this auction. I kinda see it as a dig at the seller for putting the domain into the auction with an end-user priced reserve... It's basically a way for your peers to tell you you're dreaming buddy!
Regarding commissions I'm sure Monte and NamesCon have the option to negotiate those commissions with sellers. They have to lure some eye-catching domains into the auction to build up some interest. I would not be surprised if most of the 6 figure domains didn't have special commission arrangements.
What also cracks me up to no end are the people who bid online in pre- and extended auctions with hilarious bids. I mean, why are you bidding $300 on a 6 or 7 figure domain with a high reserve? There are so many stupid bids. It must be newbies who like wasting their time just to see their names in the auction bids list. Otherwise, why-the-eff bother?
haha - yeah I can imagine that prostitute.org was only bought as a joke. Or maybe some domainer was scorned over an ex-lover and is going to use it for revenge.
Nice comments, I would not deal with Kate Buckley ever again, she made a domain offer, and quoted estibot as a source. Can you imagine a broker making multiple price requests on exchanges, to finally submit one on the landing page for an aged two strong keyword .com, to quote $1xx estibot.
A 6 letter one word .com, that sells for $150K, isn't actually pigeon sh*t. I didn't know brokers were so in demand, they can turn down that kind of quality.
Good on you for selling your own name, it’s not rocket science, any one word .com is a gift when a broker gets 15-20%, for listing it on their website, and picking up the phone.
Insurance.us was offered on namepros a few months back, I guess a deal couldn't be done. I think the buyer got the better end of that deal, even with a weaker extension it is a monster keyword.
Some highs and lows in the auction, overall about as expected, Thanks for reporting in @Bob Hawkes
Pretty eye opening and including the comments made here.
Separate names with a comma.