LLLL.com Live Auction

[bfluid]

No more submissions.

The "LLLL.com Exclusive Live Auction" is final. It will be held on March 22nd at 3PM EST (GMT-5).

For listings: http://www.tymaier.com/listings/ .

This auction will be conducted in the Namepros Chatroom.

Prebidding here.

No submission fee.

To sell your LLLL.com's please send me the following information about the name(s) you are selling:

Name:
Registrar:
Expiration:
Description (If any, this doesn't matter unless you want to utilize it.):
Payment Options:

Reserve is gone and we are going to impend a buyout clause instead. The clause is 20% with a $5 cap.

Also, Bidders with 0 trader rating must complete payment on a winning auction before bidding again.

With Integrity,
Ty Maier

 

[mis_chiff]

around 100-105

At one point it was about 113
great turnout for this auction.

i didn't buy or bid, only watched (I learn more that way)

Thanks to the efforts of those involved in putting it together
and running it! Great job!!!

 

[broke-r]

Totally agree with floatingworld. :tu:

3. 10% penalty if the seller fails to complete on a sale with no reserve.

This will just ensure that people won't even submit names.

Kind of harsh don't you think?

You want the coil.com owner to pay $1k for a $100k name with only a $10k bid? Illogical to say the least. I'd keep my names out of any auction with these terms.

@mwzd: Yes, otherwise he shouldn't put it up for auction in the first place.

That's what reserves are for.

 

[mwzd]

That's what reserves are for.

In this case there were no reserves, just a buyout clause.

And if a domain has no reserve but a buyout clause, the buyout clause can't be 10% of bid. Its just not feasible.

Then I would bid $20,000 on a $100,000 domain and expect $2,000 for my effort... is that what you're saying?

 

[Basement]

I put up a post on www.dnbuff.com about the entire issue. Once again, thanks a ton Ty and mwzd, we all really appreciate your dedication.
http://dnbuff.com/llll-live-auction-the-exclusive-dnbuff-report is the post.

 

[broke-r]

That's what reserves are for.

In this case there were no reserves, just a buyout clause.

In this case, you quoted floatingworld's post about "Recommended implementation of features" for forthcoming auctions.

And if a domain has no reserve but a buyout clause, the buyout clause can't be 10% of bid. Its just not feasible.

Then I would bid $20,000 on a $100,000 domain and expect $2,000 for my effort... is that what you're saying?

Never said I agree with the buyout clause. If you want to know, this is the main reason I no longer join any NP auction.

 

[zurc.net]

In this case there were no reserves, just a buyout clause.

And if a domain has no reserve but a buyout clause, the buyout clause can't be 10% of bid. Its just not feasible.

Then I would bid $20,000 on a $100,000 domain and expect $2,000 for my effort... is that what you're saying?

That doesn't make sense at all, I know for a fact I would not even consider putting a domain into a auction with those terms.

-zurc

 

[duceman]

^^ There was a cap on the buyout..

From the first post of thread..

Payment Options:

Reserve is gone and we are going to impend a buyout clause instead. The clause is 20% with a $5 cap.

 

[Krossat]

Cant you go by the reserves rulebook?

You either Set a reserve or u dont.

If you set a reserve, thats the minimum anyone bids.
If you dont set a reserve, you are legally bound to accept any offers. Defaulting to do so would make you liable for either account closure or 20% fine.

Now comes the question of whether some people will set a very high reserve. Well you can have a panel fo experts to check that and make the seller lower the reserve if need be (like sedo does).

Simple.

 

[Red Rock]

Now comes the question of whether some people will set a very high reserve. Well you can have a panel fo experts to check that and make the seller lower the reserve if need be (like sedo does).

Simple.

Reserves sound great.
More people to throw their domains in...
without worry of losing $.

If you charged a listing fee,
wouldn't that make people think twice,
before setting high reserves?
That could help out a bit.
Just my 2 cents!

 

[CHILLY]

I'm not sure if I'm missing something but if a reserve is met than there should be no buyout clause, something has to be binding. If i want to sell my domain for $100.00 ( While realizing that this would be mostly a domain resellers auction) than once someone bids $100.00 the sale is binding at that point because that is the reserve. It is sold. I cannot back out.

As far as I know this was the first LLLL auction. I think it's a good concept, a few wrinkles can be ironed out such as timing, types of buyouts, ect.. If there is to be another auction, it would be more solid. Also with advertising, emails, stickies, letters ect... you can possibly attract some possible end-users on certain LLLL names. This can make the auction more exciting.

The LLLL market itself seems to be trying to get comfortable and adjust itself so sellers don't want to sell too low and buyers don't want to be stuck with something they are not too sure about the future with.

I'ts good to allow all types of LLLL's from the ones that are called non- premium to the highest premiums but it's all in how you space them and treat them. In some of the antique auctions they have the "box lot" section, this is usually the cheap fun stuff so to speak that are sold with no reserve or a very low reserve. Perhaps setting an automatic reserve of say $40.00 (hypothetical, whatever the min wholesale is estimated to be) for the 'non premiums' at which point $41.00 the domain is sold. This way the seller and the buyer know what's up. So if I need some cash and I have 10 non premiums, I would know the minimum i would get if somebody bids and this would speed up the auction while at the same time everyone can participate.

I guess it's not possible (or maybe it is?) but audio would be cool and it will end chit chatter as people would pay attention to the audio, going ..going.. ect... a respectable amount of chit chatter is o.k. as it's all in the fun and ambiance of the auction which psychologically can create more bidding but should be checked to keep at a minimum.

 

[mwzd]

I'm not sure if I'm missing something but if a reserve is met than there should be no buyout clause, something has to be binding.

If a reserve listed item meets its reserve it has to sell. Thats really not open to buyout. If the person fails to sell once reserve has been met it should be treated as a default.

If no reserve has been set a buyout clause has to be there and at a figure that is reasonable enough to encourage people to list their domains in said auction. 10% of high bid is too high, thats why I even suggested listing all domains with reserves.

Anyway this is all academic interest now that the auction is over and a new one not planned for now. Probably will be held by NamePros management itself and their rules are already known, so thats cool with me.

 

[bfluid]

Phew, that was a lot of reading.

I can see the faults and I agree with most of you guys (if not all). I am truly sorry the prices did not reach what they should have. There will definitely be reserves next time. I am going to inquire about using the NP auction script, because people are used to that. I like the rules you guys are talking about.

I would respond to all of the posts but that would take me hours.

Thanks for all of the support. I plan on holding another one (with more feedback from the members here).

I'm to stubborn to quit.

 

[SlimPickins]

bfluid, first and foremost i REALLY appreciatet the time and effort you put into this (and all those that helped you organize and run the auction too).

i am also looking forward to the fine-tunings for the next auction, as i didnt plan to sit on the auction for 4 hours to make $10 in buyouts..... i wanted to win names and was a bit frustrated that they were bought out because i WOULD have bid more but, since none of the other +70 people in the auction wanted the names for more, i won them for the price i did.... which didnt meet the sellers expectations. no offense at all meant to the 2 sellers that chose the buyout option, i can understand their wanting/expecting more for the names, but it was still discouraging.... so, i suppose i am with the crowd waving torches and demanding reserves or higher buyout fees :D ....

a few suggestions:

a reserve price is optional with the following stipulations....

sellers can choose to submit their domain or packages with minimum reserves. IF they are selected for the auction and the reserve is NOT met, the auction will at least be very short, and the seller should pay the auctioneer a (?$) listing fee for the time and effort. if the reserve is met its sold.

if a seller opts NOT to set a reserve, the buyout fee should be higher. I personally think that it should be a % of winning bid, NOT capped at $5, because a higher buyout fee at least signals to potential buyers that the winning bid has a higher chance of actually getting the name, or at least makes the time and trouble of waiting for, and bidding on, a name more worthwhile if the buyout is higher.

again, thanks for the auction! sp

 

[bfluid]

Sounds good SP!

BTW, I know of several sales after the auction inbetween the high bidder and the seller negotiating. Including a $x,xxx sale.

 

[mwzd]

I actually sold one of my lots, #49 if I remember correctly, just to keep the momentum going and welcome one more buyer to the group.

Haven't had a response to the 3 prem LLLL.nets but will sell those too in case the pre-bidder wants them, that is 66% strike rate for me.

I've also heard of other people in this thread completing sales, so I'm assuming that at least a percentage of the list was sold, which can only be a good thing.

 

[thetruman]

of my 4 lots I used the buyout clause on 3 of them... :tu:

 

[nicedomains]

Phew, that was a lot of reading.

I can see the faults and I agree with most of you guys (if not all). I am truly sorry the prices did not reach what they should have. There will definitely be reserves next time. I am going to inquire about using the NP auction script, because people are used to that. I like the rules you guys are talking about.

I would respond to all of the posts but that would take me hours.

Thanks for all of the support. I plan on holding another one (with more feedback from the members here).

I'm to stubborn to quit.

Thanks again, repped and have sent you a few np$'s.. Mwzd you too deserve some recognition, thanks to you repped! Can't wait for the next one.. Member of the month nomination... Bfluid !

 

[bfluid]

Thanks again, repped and have sent you a few np$'s.. Mwzd you too deserve some recognition, thanks to you repped! Can't wait for the next one.. Member of the month nomination... Bfluid !

Thank you.

 

[Red Rock]

Great Job on the auction!
Reps to both,
You guys rock!
Thx,
Red Rock!

 

[NameCharger]

Thanks ty & mwzd for their efforts :tu:

All my submissions were buyouts.

I suggest a no buyout clause, Sellers pay to place reserves (saves everybody's time.)

 

[bfluid]

Thanks guys,

BTW, there will be no .net's in this auction. :D

 

[Krossat]

aww not even dictionary nouns? :D

Thanks guys,

BTW, there will be no .net's in this auction. :D

 

[Domain Shane]

Krossat and I worked out the deal afterwards and have no problem saying I doubled my bid at the auction for weak.net. The name is one I really wanted and although high now, like all good domains will be a bargain price in time. All I can say is despite all the hard work the only thing that came out of the auction was how not to do it next time. Krossat and I got what we needed. I will be there for the next auction and have some names I would like to enter and would certainly like to help with the auction if I can be of any assistance

 

[bfluid]

aww not even dictionary nouns? :D

We might make a couple exceptions. :D

 

[Krossat]

Yup we worked a deal and i got extra funds to get my new dictionary domain
Replacing Buyout with reserve oughta fix it all.
A rough evaluation for reserve can be done so its not too high though.