eMail from eNom : New Club Drop and Auction Process

[Gregoire]

New Club Drop and Auction Process

We are making changes to the Club Drop and Auction process, which will go into effect by the end of next week. Once live, you will notice the changes on the website.

* A minimum bid of $30 will be required to get into private auctions.
* If the maximum bid is below $30 with two or more bidders, and we get the domain, it will go into a public reverse auction starting at $60.00. Your initial bid will be carried over.
* If you are awarded a domain and do not pay eNom, a $10 processing fee will be assessed to your account. Daily emails are sent to the account holder to advise you we are unable to process the order.
* Any successful bid above $5,000 MUST be paid by wire transfer within 7 days (increased grace period applies only to bids over $5000.)

For complete details and examples, please see the Club Drop agreement: http://www.enom.com/terms/clubdrop_agreement.asp

If you have any questions about our Club Drop program, please give us a call or log a request in the support center, http://www.enom.com/help/

eNom Technology Support & Partner Services
425-274-4500 ext. 3
www.enom.com

Hi all,

I have just received this.
They'll make even more money now ... this means we will spend more

Grégoire.

 

[paxton]

Sigh. Enom was the safe haven. The place you could backorder a mediocre domain, have a high probability of getting it snapped and wouldn't have to pay an arm and a leg for it.

Perhaps these changes will help curb the fraudulent/non-paying bids in private auctions. I'm not too optimistic that this will be the case.

In any event, this might change the way I prepare my droplists at club drop. Guess I'll have to wait and see. Still haven't read anything about them accepting .BIZ and .US domains, although they are supposedly allowing these extensions now.

 

[Philippe]

I don't like getting bullied. No more 10 shitty catches a day for me.

 

[Riceman]

This sucks, now it will cost me more

 

[showcase]

This should enhance the value of your existing domains.

Enom has had problems with bidders not paying after the auction is over. I believe this has happened on some very high profile domains as well.

I think Enom is doing this to cultivate a more premium client base. Of course they will have fewer bidders. I think Enom believes that in this case less means more.

I don't really care because you can't get a quality domain name for $30.00 anyway.

Cheers,

Showcase

 

[Gregoire]

I don't really care because you can't get a quality domain name for $30.00 anyway.

Cheers,

Showcase

You can't if it is an English Keyword, you are right. But that's not true with other languages keywords ...

Grégoire.

 

[Peter]

In all honesty this could make domains on club drop slightly cheaper as it will rapidly get rid of those people who bid on names they do not want (and end up not paying)

Who now in their right mind will do this if they will get charged $10, it will fast become very expensive.

 

[AdoptableDomains]

I think they are now trying to create an auction system even more complicated than Pool. The reverse auction was a bit of a surprise. I'm still not sure I understand that.

Bidding rules: You will have to place an initial Bid on the Expired Domains in your Drop List. The minimum Bid is 10 eNom Points (for retail customers - this and subsequent references to "eNom Points" should be understood as referring to an equivalent number of dollars). Your initial Bid may only be withdrawn before 10 AM, Pacific Standard Time, on the Release Date and it may not be withdrawn if it is for greater than the minimum. In other words if your initial Bid is for 20 or more eNom Points, you may not withdraw it; if you make an initial bid of 10 points, you may only withdraw your Bid prior to the Release Date. Except for minimum Bids withdrawn prior to the Release Date, Bids may not be retracted or reduced once submitted. If two parties place the same Bid or Proxy Bid on a domain name, the party who placed the Bid or Proxy Bid first will have priority.

Bid increments, in eNom Points, are 10, 20, 30, etc., up to 1000 eNom points; over 1000 eNom Points, the Bid increments are 100 eNom Points (e.g. 1000, 1100, 1200, etc.), up to a maximum Bid of 10,000.

* Bid Permutation A. If no one else lists the same Expired Domain in their Drop List, and if the Expired Domain is acquired, you will be awarded the Expired Domain and charged the Bid amount.

* Bid Permutation B. If you bid 30 eNom points or more, and if no one else bids 30 eNom points or more, and if the Expired Domain is acquired, you will be awarded the Expired Domain and charged the Bid amount.

* Bid Permutation C. If at least two of the Club Drop subscribers bid 30 or more eNom points, and if the Expired Domain is acquired, then a private auction will take place among only those who listed the Expired Domain(s) in their Drop Lists and bid 30 or more eNom points (those who bid less than 30 points will not participate in the private auction). The starting Bid during the private auction will be the highest Bid.

* Bid Permutation D. If no one bids 30 or more eNom points, and if the Expired Domain is acquired, the Expired Domain will be moved to a public reverse auction, in which any Club Drop subscriber can participate, and in which the starting bid will be $60 dollars. The starting price in the reverse auction will stay at $60 for 12 hours, thereafter the bid will be reduced by $5.00 every four hours. Your Bid at the time of the Release Date will be your Bid in the public reverse auction. You can only increase your Bid once the public reverse auction begins, you cannot reduce it. Anyone can select the "Buy It Now" option during a reverse public auction and will obtain the Expired Domain unless there is a Proxy Bid for the Expired Domain which is equal to or higher than the price level when the "Buy It Now" option is selected.

Bid Permutation E. Proxy Bids are available in the reverse auction (Proxy Bids are also described below in Section 3). A Proxy Bid in a reverse auction, much like a Proxy Bid in a standard auction, is the maximum amount which the bidder is willing to pay for the domain name. In a reverse auction, the Proxy Bid system will attempt to obtain the domain name at the lowest possible price which is at or below your Proxy Bid amount and above the next highest Bid. Additional examples of Proxy Bids in reverse auctions are provided in the FAQs and elsewhere.

Bid amounts will be visible to the other participants. Bids will be accepted for three days from the start of the private auction. At the end of the third day, eNom will review whether or not there has been a new (higher) Bid in the last 5 minutes. If there has not been a new Bid, then the private auction will close and the Expired Domain will be awarded to the highest bidder. If there has been a new Bid in the last 5 minutes, then the auction will remain active for an additional 5 minutes. This process will repeat and the auction will be extended until there are no new (higher) Bids in the last 5 minutes. Your domain name registration fee will NOT be added to your Bid amount to determine whether you have the highest Bid. Be aware that if the winning bidder does not pay, then the next-highest bidder and such party's Bid will then become the new starting Bid in a public auction (additional details, below). If you are the next-highest bidder and if there are no other participants in the public auction, then you will be awarded the domain name.

Looks like you can still bid $10, but if anyone else bids $30, you are automatically a loser. $10 only wins if there is no competition or the only competition is also at $10.