Great posts everyone (rep on the way..
if I can )
...well after all that he did'nt bid any higher and i got it for just over back-order fee :blink: ..its not a name that's likely to get PPC but it may be worth a few grand to the right enduser ?? ....time will tell.
blaknite said:
It shows a tremendous amount of foresight that you check out your competition and plan your strategy. Many would not. It seems to me you are missing another critical point though. It doesn't matter who your competition is, they're the enemy.
The name has a value. The number isn't printed anywhere. You come up with a formula for what you believe that value is, and then determine how much below that "true value" you have to stay order to make a profit when you resell the name. This amount below the true value is how much you can bid. While they may visualize it differently, This is the same thought process your competition is doing, whether the competition is a mouse or an 800 pound gorilla they decide what its worth and go for it. You should too.
I'm not sure where you find out who you are up against, but I'm thinking you are using that metric all wrong. Instead of using it to decide you don't have a shot at a name, you should use it as confirmation of your genius. The fact that an 800 pound gorilla is going after the same name as you is proof that the name is at least as valuable as you suspect. Factor that in and up the ante.
You can fight and have a slim chance of winning, or you can not fight and never have any chance at all.
Nice post, I'v been in a fair few drops at snapnames over the last 2 or 3 years so eventually after watching certain bidders you can see what kinds of names they go after and get an idea of what they "may" be willing to pay.
Of course I'm just speculating/guessing depending on what I think they will do with it, try and resell it, park it or develop it.
TheLegendaryJP said:
:lol:
Do you use snapnames or namejet?
I agree with what you are saying in principle, makes sense. You are dealing in an idustry however where these bigger buyers have grossly overpaid for years and at 50%-XXX% more than market value ( reseller ).
Personally and of course not everyone but MOST big buyers on drops DO over pay and usually do to simple lack of knowledge imo. Money does not = brains. Their grand start is to gobble up what they can at too high prices than wonder why they have huge portfolios they could never get a roi on... hhhmmm understand now why it makes more sense most time to most big players to dabble in TM names :]
Mostly snapnames over the last 2 years but I don't buy anywhere near as many since NetSol moved to NameJet....I used to like the surprise of not knowing who or how many people were going to be in the drop.
I sure look at the prices sometimes and think, EEEK if this person is not buying to resell then it'll probably take 40 years to get their money back in PPC (assuming PPC does'nt get any worse)
laon.c* m for $500.249.00 and UncleSam.c* m for $185.750 are two that spring to mind.
JoshuaPz said:
Same here. I was in an exclusive bidding competition with s**gydimes (i.e. BuyDomains) for an excellent two-worder, and I was pleasantly surprised to see him bail at $100. I won the domain for $110. In other contests I've seen him ratchet it up to 4 an 5 figures without hesitation.
Congrats, it does happen sometimes !
npcomplete said:
It doesn't take a millionaire to convince me that there are going to be "no bargains here" for an auction sometimes. I was playing pool with my brother tonight (I am much better), and coaching him that like in any sport, it pays to know the game of your opponent. I was pointing out that in most sports you need to not only be on top of your own game, but "screw with the other guys game".
I used to be extremely active in antique auctions (not eBay, but real in-person auctions for real antiques). I had a notebook on just about every "regular" that showed up at auction. I knew what their interests were, how they bid, sense of humor, personal notes, etc. that I accumulated over the years in auction houses. I would use that against them... and take further notes on their reaction to my bidding. Sometimes I would push them in auction for one item, when I was actually more interested in other items.
So I bailed the other day on a domain auction without a single bid. "No bargains today".
'tis all game theory my friend... just game theory.
Great post and a very wise strategy, I think knowing when NOT to act takes alot more skill/control than just reacting :tu:
cache said:
no emotion should be involved in a bidding. It does not do any good to you.
true but that's easier said than done if you happen to like the other person
...
I'm only human.
robfer said:
You have to Fight back!
If you really want a domain then you should bid for it but not just for the sake of owning the name hoping it shall make you millions.
FMA - Only buy names they plan to develop and rarely sell so if thats the case I doubt you shall ever beat them!
I wish you the best of luck!
Regards,
Robbie
I'd of thought it would be one he would be interesting in developing, maybe he just could'nt make it to the auction or had second thoughts about its potential ??
...I'd already decided I was'nt going to put up a fight for it anyway because its not one that I would ever want to develop myself.
.
ulasbbtr said:
You can't compete with giants if they really want the name. However, in such situations I force my maximum to make the name as much as expensive for them, because I think if many other domainers do the same that will be a blow to their buying budget. Otherwise they will take the everything and leave nothing to rest.
Yeah I know I could'nt beat them if they
really wanted a certain domain, I see your point about spending their money its just I find it too hard to do.
On top of that even if you did win chances are you probably over paid, of course this depends on why you're buying it in the first place. Reselling, PPC or develop.
DomainTalker said:
The other thing I've found sometimes, is a kind of unspoken 'deal' between bidders seems to emerge through bidding...
.
Once or twice I'v not bothered to bid because it was another NPer on the other end, he got it for min.......a while later he bid me up a fair bit on another name
but...I knew who he was but he did'nt know who I was, I still got a bargain IMO
I guess we never know what domain is coming up next so to hold back sometimes will end up being the right thing to do.
Thanks for your input everyone :tu:
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