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

 

[h3rm4w4n]

My domain sold lower than offer ever.
other sold same to last year.
I hope would be sold more than 100$ each..

 

[currenz]

bfluid and mwzd - Thank you for your effort. :tu: I hope there will be 2nd 3rd 4th LLLL Live auctions (be it big or small, don't really matter). It is even better if this could become a regular event.

Here are my suggestions:
1. I am not sure if this has been done. Is it possible to have minimum waiting time between each call for bid? eg.
Going once - (minimum XX seconds wait) ->
Going Twice - (minimum XX seconds wait) ->
And - (minimum XX seconds wait) ->
SOLD.

2. Is is possible to include the domain name when the high bid is announced?:
HIGH BID $65 - XXX.com (Lot xx for package deal) or
XXX.com $65 - Going once
Late comer will have an idea which lot is being auctioned.

3. It would be nice to define the bid increment.
$1-$100 - min increment $5
$101-$500 - min increment $10
etc

4. Is it possible to use NP's live auction' prebidding system for LLLL prebid? It is clean and easy to track.

5. Auctioneer: please appoint a proxy if you intend to bid.

6. Auction crowd: "Bid only, No Chat, Use PM" - Let the auctioneers do the talking. Auctioneers please invite a moderator to take control of the chat room. Restless crowds should be warned.

5. A themed auction might also be desirable - a. High Value names (above $10k) b. Middle value names ($1k-$10) c. Low value names ($100-$1k) would also be better in attracting the right crowd for each event. Someone with $100k to spend might not want to hang around for 2-3 hours.

Good idea!

 

[Malaysia]

how many were there during the LLLL.com auction?

 

[thetruman]

around 100-105

 

[floatingworld]

http://www.tymaier.com/listings/sales.htm
As has been said a few times already, it's very discouraging to bid when you really have no clue what the current owner is holding out for. Placing a 7,5k bid on 3Par's lot was 7,5k I could have bid on other people's names had I known this wouldn't meet his reserve, in example...

yes, good point.
Recommend implement following features:
1. As with other auction practice have a published reserve which if met the seller is obliged to sell.
2. 20% penalty (yes 20%) if the seller fails to complete the sale if the reserve has been met.
3. 10% penalty if the seller fails to complete on a sale with no reserve.

Note: with the current low penalty rates, several sellers are just using the auctions to get a free valuation snapshot and have no intention to sell.
The above penalty rates will ensure only genuine sellers participate.

 

[mwzd]

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.

 

[Shenron]

I guess it's 10% of the higgest bid.

**Do you have any idea of the percentage of deals that have been made and the percentage of buyouts?**

 

[-REECE-]

I think that would be more than fair moving forward... I like the idea of a 20% fee for backing out of a deal where the reserve was met.

edit: A cap could perhaps be put in place for extreme examples like COIL, but it should be alot higher than $5 imho (maybe $100?)

I guess it's 10% of the higgest bid.

**Do you have any idea of the percentage of deals that have been made and the percentage of buyouts?**

 

[Shenron]

Yes, I agree with Reece here.

10% if reserve is not met and 20% if reserve is met. (from highest bid)

$5 is tip change... in fact I should have accepted my 2 * $5 and give it to charity...

 

[-REECE-]

I honestly felt bad for wasting the buyer's time and sending them $5/domain compensation. The fee should be very high if the reserve is met, because that's essentially backing out of a done deal...

For most LLLL.coms, I think a 10% of the max bid would be very reasonable. This will also discourage people from wanting absolute top dollar, and say, refusing to sell a triple premium + J for 110 because they wanted 125...

Perhaps a cap can be put in place for generic 4 letter words or premium CVCVs (which could end up having fees in the $XXX+ otherwise). I think $100 or so would be a reasonable cap for not meeting the reserve. I think the 20% should stick though for people backing out of a reserve met auction.

Yes, I agree with Reece here.

10% if reserve is not met and 20% if reserve is met. (from highest bid)

$5 is tip change... in fact I should have accepted my 2 * $5 and give it to charity...

 

[Krossat]

10% if reserve is not met???
LOL that is pure crazy. If the RESERVE is not met, that means the Seller is NOT interested to sell at a lower price. The Reserve protects him from a lowball sale.

Yes, if a reserve is met and a seller backs out, that should be fined. 20% seems fair.

Yes, I agree with Reece here.

10% if reserve is not met and 20% if reserve is met. (from highest bid)

$5 is tip change... in fact I should have accepted my 2 * $5 and give it to charity...

 

[mwzd]

bfluid and mwzd - Thank you for your effort. :tu: I hope there will be 2nd 3rd 4th LLLL Live auctions (be it big or small, don't really matter). It is even better if this could become a regular event.

Thanks for being there, was fun :tu:
Don't know about others for now...

1. I am not sure if this has been done. Is it possible to have minimum waiting time between each call for bid? eg.
Going once - (minimum XX seconds wait) ->
Going Twice - (minimum XX seconds wait) ->
And - (minimum XX seconds wait) ->
SOLD.

We waited for approx. 10secs between each call for the first time, after that it was dependent on the interest, even then it took 5 1/2 hrs instead of 3...

2. Is is possible to include the domain name when the high bid is announced?:
HIGH BID $65 - XXX.com (Lot xx for package deal) or
XXX.com $65 - Going once
Late comer will have an idea which lot is being auctioned.

Its understood, latecomers were given the entire listing again when asked for.

3. It would be nice to define the bid increment.
$1-$100 - min increment $5
$101-$500 - min increment $10
etc

It is and always has been - check under the chat window.

4. Is it possible to use NP's live auction' prebidding system for LLLL prebid? It is clean and easy to track.

I think bfluid is the best person to answer this, he set it up with RJ and NP management, not me.

5. Auctioneer: please appoint a proxy if you intend to bid.

Agreed, I didn't want to bid too... so put in my prebids and only went higher on one lot I really wanted, which, not surprisingly, was a buyout.

6. Auction crowd: "Bid only, No Chat, Use PM" - Let the auctioneers do the talking. Auctioneers please invite a moderator to take control of the chat room. Restless crowds should be warned.

Asking moderators to be in for an 'unofficial' auction especially on a family weekend would not have been fair. Some of them did pop in and help even then, which is appreciated.

 

[Fka200]

There was a guest commentary on my blog posted today about the auction! Don't want to spam, but want to give the guest poster a little recognition since he did a great job at writing the article!

http://www.fka200.com/2008/03/23/the-much-awaited-llllcom-auction-roaring-success-or-a-damp-squib/

 

[Shenron]

10% if reserve is not met???
LOL that is pure crazy. If the RESERVE is not met, that means the Seller is NOT interested to sell at a lower price. The Reserve protects him from a lowball sale.

Yes, if a reserve is met and a seller backs out, that should be fined. 20% seems fair.

There was no reserve set in these auctions, and my time is more valuable than $5 per hour or so.

If the seller doesn't set a reserve then he must sell, if the reserve is met he must pay.

Maybe I wasn't clear enough...

10% is there is no reserve (sorry, my bad here)
20% if there is one and he doesn't sell (off course he must be the one setting the reserve, or at least agree with it)

 

[bobby9101]

I think the only potential problem was the lack of interested buyers, or buyers with more than $100 to spend. I think that charging an upfront fee, say $5 and then 3% of final sale would A. provide some money to advertise to bring potential end users to the auction B. get rid of some of the crap names. I put up a crappy trip premium simply because there was no reason not to.

 

[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.