Jan 3rd 2008 DomainTools.com Online Auction Official Thread

[DotWeekly]

Ok, we finally have official word from DomainTools.com about the online auction they will be having.

Date: Jan. 3, 2008
Place: DomainTools.com (Online Only)
Time: 11:00 am PT

You can submit up to 20 domains total. For more info, please see the following link.

http://www.domaintools.com/live-auction/ (you must be logged in)

 

[wot]

I have pulled all mine pending what happens in the next few auctions- In no hurry to sell low. :gl:

 

[DotWeekly]

Simply put.....

If you are worried your domain will not sell in the auction, but you would list it for X amount, simply add 10% to what you were going to list it for! Then no matter what, you will get the price you were asking.

DT better start accepting soon... lol, because I keep changing all my domains. Soon, I will have a All New Batch in there then when I first submitted.

 

[Michael]

I would add a third reason: auction attendance.

Very good point that nobody seems to have touched on yet. I'm sure there are people with crazy reserves on LQ names, but if the players aren't there then all is for nothing.

If you are worried your domain will not sell in the auction, but you would list it for X amount, simply add 10% to what you were going to list it for!

But the higher the reserve the more it discourages bidding. If someone has a reserve close to the real market value of the name, they'll either be forced to make it overpriced or risk selling at 10% below market value. Neither of those is a good choice IMO, which is why is pulled my names.

 

[DotWeekly]

But the higher the reserve the more it discourages bidding. If someone has a reserve close to the real market value of the name, they'll either be forced to make it overpriced or risk selling at 10% below market value. Neither of those is a good choice IMO, which is why is pulled my names.

If you are investing wise, 10% off market value should be not an issue. By you saying your worried about selling and I assume it's your NNN.com, let's say at $6,500 usd. If you purchased at - 10% of that, $5850 it was a long term investment, and shouldn't be sold now anyway. Would it sell at $6,500, I think so. Would it sell at $5,850, yes it would.

Those who take risks will be rewarded. imo . I think a big miss here, that is not pointed out that much. It's an Online Only auction, and I think this is Great. Last auction had over 1,000 people online. I just watched a video from the PubCon auction and there was probably less then 100 people in the room and there was NOT an option to bid online. It's Way more likely to have people at the auction when it's FREE and Online. I still think the Online/Live auction is the best, like the last DT auction but Online only, in a Real Time auction is a very close second.

 

[sashas]

Yofie, what would you say is a better bet at this stage: the DRT auction, or the Snapnames Live auction?

 

[DotWeekly]

Yofie, what would you say is a better bet at this stage: the DRT auction, or the Snapnames Live auction?

Are you asking about the April 8th auction or the Jan 3rd ?

 

[sashas]

The Jan 3rd one..

 

[DotWeekly]

The Jan 3rd one..

That's what I figured but I wouldn't consider the Jan 3rd auction as a DRT auction. The Domain Round Table auction is the April 8th event, which is a Live Auction as well as an Online auction.

Anyway,

Personally, I like the DT (DomainTools.com) auction. People already have used the interface. You do not have to Transfer your domains to some odd registrar. DT is marketing to all past customers who bid in the last DRT auction among others.

Why I wouldn't choose the Snap Live Event Vs the DT online auction.

1.) You have to transfer your domain to Udomain. This would be ok if you were guaranteed the domain would sell, but you are not.

2.) First time event. Although many of us have bid at SnapNames, this does not mean they will be using the same bidding interface with the live auction. It is totally different to hold a Real Time Auction, instead of a Live Auction.

3.) Two day event. I just don't like this idea. Takes up more of peoples time. I think most will pick One Day to bid if they like a domain.

4.) Have to submit your domains well over 1 month in advance. (DT is really only 10 days)

5.) There is a Download Required to see/bid in the auction online. This might not be a big deal to some, but is still a pain and could be a problem for the last minute bidders. Let alone if they have troubles with the downloads due to not having a certain plug in etc.

6.) Buyers can only pay with Paper Check or Wire only.

7.) 15% commission. (DT is 10%)

8.) Costs $595.00 - $995.00 to get into the Live Event.

 

[Spade]

Well... Forced to add a Credit Card for verification - instead of just using paypal. (also forced to pay $1)... A bit annoying, but perhaps necessary.

Justin

 

[gubera]

Well... Forced to add a Credit Card for verification - instead of just using paypal. (also forced to pay $1)... A bit annoying, but perhaps necessary.

Justin

I just pulled the one name I submitted because of this. Didn't have much of a chance to be in the auction anyways.

 

[Jeff]

I just noticed the same today at my DT's log-in! :gl:

Congratulations, you are done!
We will send you an email when we finish reviewing 10 of your domain(s).

Merry Christmas! :santa:
-Jeff

 

[Sameh]

Two days left ..

Wish you all Good Luck

 

[Carlton]

Well... Forced to add a Credit Card for verification - instead of just using paypal. (also forced to pay $1)... A bit annoying, but perhaps necessary.

Justin

Guess it's a verification similar to Paypal/Google in which they force a small bank account or credit card transaction to help insure the participant is legit. I'm not sure what the best process would be to guarantee this. If the auction pays off, then it will have been worth it in retrospect.

 

[randomo]

I just tried to submit 20 domains, but was told that the reserves were too low. What is the minimum reserve price for this auction?

 

[Sameh]

I just tried to submit 20 domains, but was told that the reserves were too low. What is the minimum reserve price for this auction?

$1,000

 

[randomo]

$1,000

OK, thanks. That greatly reduces the amount of domains I can submit!

 

[Name Trader]

Well... Forced to add a Credit Card for verification - instead of just using paypal. (also forced to pay $1)... A bit annoying, but perhaps necessary.

Justin

How did they force that? When I added my credit card, it said nothing about validating it.

I added my credit card (no mention of any validation). It's on file. I then go to sign the auction agreement and it tells me no credit card of that name is on file. when it is. i just added it.

I'm beginning to regret leaving this until the last minute (although busy before). My GF is asking me to give here a hand with the turkey right now (we eat on 24th). Between a rock and a hard place. I think I choose the rock

 

[greenlake]

I submitted 34 domains , have my credit card on file, signed the contract and I still keep getting this message:

Warning: You have not signed the agreement for this auction and your domains are not currently being considered.
Please sign any applicable



is this auction is for real or what?

 

[DotWeekly]

I submitted 34 domains , have my credit card on file, signed the contract and I still keep getting this message:

Warning: You have not signed the agreement for this auction and your domains are not currently being considered.
Please sign any applicable
is this auction is for real or what?

The max amount of domains you can submit is 20, so I am not sure how you submitted 34?

Did you verify your credit card already? When you signed the contract, did you hit submit? Is your email address verified?

If all else fails, hit up http://support.domaintools.com (might be a little late for the up coming auction, but worth a shot)

 

[Sleepys]

I submitted 34 domains , have my credit card on file, signed the contract and I still keep getting this message:

Warning: You have not signed the agreement for this auction and your domains are not currently being considered.
Please sign any applicable

I got the same message yesterday. They tell you to add a credit card, then give you a link that takes you to the credit card already on file. I sent them a customer service request yesterday, but they never replied.

Oh well.