NameSilo

Domain Liquidation Platform - Seeking input for new Epik project

Labeled as Wanted in Promotional started by DanSanchez, Dec 3, 2019.

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  1. Ryan217

    Ryan217 NameBlitz Gold Account

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    Let's think about this without proxy bidding for a moment. If I see a name and the current price is let's say $500 and I think I like it but I am not willing to pay $500 so I'll come back online when it falls to $100. A short while later it has fallen to $200. I could now decide that actually I'm willing to pay $200 and want to snatch it up before someone else does so I go on and click buy now at $200.

    So now bringing proxy bidding back into this, allowing someone to change their proxy bid is really no different and should be allowed.
     
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  2. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    Exactly right -- that is why NameLiquidate is clever.

    Proxy bidding is a required ingredient for enabling people with more time than money.

    We also need a curated hot list, @DanSanchez has an eye for it and will be driving that.

    I do like the trajectory, especially with a lot more features on the way.
     
  3. tonyk2000

    tonyk2000 Top Contributor VIP ★★★★★★★★★★

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    Yeah. If and only if everything is private - existence of other bids, number of other bids, $$$ offered by other bidders. Private for all parties - both general website visitors (which is current case) and current bidders. Indeed, if I was willing to pay $900 but mistakenly entered $90 - then the system should allow me to edit my proxy, no doubts :)
     
  4. NicTraders

    NicTraders Upgraded Member Gold Account VIP

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    Yeah, I understand how a Dutch auction works. To me, Epik's adjustment to the process makes it better than a traditional dutch auction, since there is the ability for proxy bids. I'm not sure if you feel that better prices (for sellers) will be had as a result of NOT allowing proxy bids to change, or if it's just your personal preference. Or maybe you consider it from a buyer's POV. Personally I feel that sellers will obtain better prices if proxy bids can be increased, so I guess if your view is opposite we'll have to agree to disagree on that one. So far I have been a buyer much more than a seller, but still my preference is always to see a seller get the best possible return (since I will also be a seller at times).
     
  5. NicTraders

    NicTraders Upgraded Member Gold Account VIP

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    But weren't you just arguing a few minutes ago that proxy bids shouldn't be changed under any circumstance?...
     
  6. tonyk2000

    tonyk2000 Top Contributor VIP ★★★★★★★★★★

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    Thanks to Ryan217's post, I now agree that it should be allowed - sometimes :)
     
  7. tonyk2000

    tonyk2000 Top Contributor VIP ★★★★★★★★★★

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    I'm trying to think from both points actually :) Selling something, buying something on domainer-2-domainer platform is what the NameLiquidate is about. For me, at least. And, reverse dutch auction is a fresh air. No way to abuse it with shill bidding, no snipping, no hugedomains, full transparency.
     
  8. AGAME

    AGAME optimalnames.com Gold Account VIP

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    Is there a way (or will there be a way) for a seller to drop in a "reserve" price, a floor? For example, I list a domain and it begins the declining price auction around $990 I think. I know in my heart the domain is worth more than $9 so I enter a reserve of $100. Buyers dont see that reserve of course but they know it exists (on domains which have them). Once the decline hits the reserve, no bids = no sale and domain is removed from auction. Just wondering if that can be something to consider?
     
  9. NicTraders

    NicTraders Upgraded Member Gold Account VIP

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    Rob has said before that this is coming, so hopefully that's still the case. It works for the low end and the high end. I would prefer a minimum of just a few $ as there are a bunch of names that I would risk that one, but I wouldn't put $9 into them (plus renewal fee). It would be totally up to the seller of course whether they would allow it to go that well. In fact, maybe there could be a default reserve price of $9 (which is basically the case now), or if sellers so choose then they could manually enter a different reserve. A few dollars at the low end, or maybe $99 at the top end. I know Rob has said that it's a liquidation platform so the max reserve shouldn't be more than that sort of figure.

    With it being a dutch auction and the possibility that a name can disappear from the list (bought through BIN or proxy bid) or keep going down to anywhere between say $3 and $99 I can imagine a slogan (borrowed from another) like: "Down and down she goes, where she stops nobody knows". ;)
     
  10. Ryan217

    Ryan217 NameBlitz Gold Account

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    Also @AGAME you can manually remove the name at any time. There just no automated removal at a reserve price....yet.
     
  11. Bertrell

    Bertrell Upgraded Member Gold Account

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    I remember this being mentioned earlier, and it is something I would be willing to do. However, thought I read somewhere about a potentially negative impact for removing domains while the auction was in progress. Is that still the case? If I find the info, I'll quote it.
     
  12. Bertrell

    Bertrell Upgraded Member Gold Account

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    Here's the 1st mention of a negative impact/for removing domains once auction begins. Granted, it was during the initial phase of the project/platform, and setting reserves had only been mentioned in passing at the time.
     
    Last edited: Feb 15, 2020 at 6:10 AM
  13. Bertrell

    Bertrell Upgraded Member Gold Account

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    2nd mention of penalty for removal of domains (4th checkbox). Again, not sure if this is still applicable for those who intend to remove their domains once a certain price point has been surpassed (in lieu of no functional reserve method at the time of this post).
     
  14. tonyk2000

    tonyk2000 Top Contributor VIP ★★★★★★★★★★

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    I just finished my portfolio revision and determined what would I renew (or drop) up to the end of 2020. Which would allow me to add more stuff to NameLiquidate :) I may even decide to still renew some of them later - not 100% sure yet. Which makes me think again of some custom min. price with NameLiquidate - not $9 but at least $19 ... $29... $59. GoDaddy regged stuff will all be grabbed on their expired auctions in 3 figures range anyway. @Rob Monster - are there any updates? To simplify everything, the system might offer a few fixed options - like $9 (current), $29 or $59 for example. It would be also more practical from buyers point of view - checking lists with 100% random reserves is too hard.
     
    Last edited: Feb 15, 2020 at 6:40 AM
  15. tonyk2000

    tonyk2000 Top Contributor VIP ★★★★★★★★★★

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    The above post reflects natural sellers point of view. I completely understand and agree that it is not 100% compatible with liquidation idea. What should be better? It is a dilemma...
     
  16. NicTraders

    NicTraders Upgraded Member Gold Account VIP

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    Wow, that is certainly being prepared. Despite my best intentions I am usually lucky to get 1-2 months ahead, let alone 10!
     
  17. DanSanchez

    DanSanchez Brokerage & Acquisitions Epik.com Staff VIP

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    There will be in the future, but for now I suggest you enforce a floor by removing the domain manually.

    You can see the orange link under "LIQUIDATE" - Which is found on every domain regardless of listing it on NameLiquidate.com
    [​IMG]



    My thoughts initially were to penalize the removal by locking the domain AFTER the domain has sold. Which is still the case. If you fail to honor a transfer request after the domain has sold, we will likely limit your activity on the site for a period of time.

    The removal of domains BEFORE they sell was discussed extensively internally, as well as the forums, and I do agree: You have full control of the price you get for your liquidations. That being said, there is a penalty to the individual domain for removal. You cannot re-list the domain for 90 days.

    Congratulations on doing what many of us have not yet done!

    This will have to be implemented, and we are seeing more activity on the buy side now. Working to improve daily takes some time to build up. For example, I will be running a weekly newsletter to highlight domains that represent above average opportunities.

    I do like how you present the idea, "select one of these three options to implement a reserve." The domain gets removed at that point and buyers will be able to see there is a reserve (just not what it is.) Let me see how we can get this done and I will keep you updated. It seems like an advanced feature to my simple domainer brain.

    For now, liquidate what you are not going to miss and get whatever price the market sets for you. I lost a few domains to aggressive buyers, like Motor.Care, I bid for it and lost! It was painful to see someone else was willing to bid more.
     

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