New Online auctions system

[sami]

Sedo's first online auctions will begin on October 23, in response to the surge of businesses and professional investors purchasing millions of dollars of premium domains each year. It is anticipated that via Sedo's seven day online auction period, domain names will be exposed to a global community of nearly 400,000 buyers who collectively spent over $25 million purchasing domain names through Sedo's marketplace in the past year. Although most listings are no-reserve auctions, owners of premium domains can hedge their risk by setting a reserve price in consultation with an expert Sedo broker.

A pilot run of the auction system for the domain name Blue.com in March led to a final sales price of $500,000, one of the highest domain sales of the year. “Sedo’s auction model generates maximum return for premium domain owners by pairing active marketing of the domain name to large corporations, domain investors, and other potential buyers with a transparent, trusted, and universally accessible online platform,” said Christian Kalled, director of domain brokerage at Sedo.

Premium domain owners can further maximize profits by taking advantage of Sedo’s introductory low commission rate of three percent, which includes marketing, auctioning, and secure escrow transfer of the domain name.

 

[GoDesign]

Good news,
will they be accepting any domains? or just domains that AllReady have bids that are listed on Sedo?

GD.

 

[0lgi]

I think that they will add extravagant fees to enter in those Auctions as they do always ! God Bless NamePros

Olgi

 

[garpiya]

I also think Sedo adds extra fee to take part in that auction. Does anybody know how much will it be?

 

[GoDesign]

From Sedo earlier in the week.
Looks like its aimed primerily at mid/high-end domians mainly.

 

[Damion]

That is not correct actually.

Sellers will have the option to push their domains to auction once their price expectations have been met through our traditional offer/counter-offer system. Auctions run for a maximum of one week, closing seven days after the original offer was accepted as the reserve. For premium domains, sellers have the opportunity to work with a Sedo broker to determine a reserve and list the domain for auction.

Once their price expectations has been met, this means when you have a domain listed at Sedo and you are receiving bids for your domain then you can push your domain into auction.

So any domain can be put in auction.

Only thing i am not sure about is the reserve aspect
I conclude that through this implementation you can not have a reserve for your domain, only when your domain is being considered as premium or perhaps when you work with a Sedo broker.

So then a fee would be involved.

Hopefully Mara (Sedo representative) could explain this further guys.

 

[*AllThings.tv*]

Here is the press release:

New Auction System for Domain Names Debuted by Sedo

COLOGNE, Germany, October 23/PRNewswire/ --


- Now More Ways to Acquire Domain Names


Sedo GmbH has introduced an auction model for domain names on Monday of this week.


Sedo's new online auction is designed to maximize sales value for high-value premium domain names and will run parallel to the company's traditional direct negotiation model.


Sedo boasts six million domains for sale on the site, and more than 500,000 users, who collectively spent more than US$25 million to purchase domains through the marketplace in the past year.


Matt Bentley, Chief Strategy Officer of Sedo remarked, "Domain buyers and sellers have turned to Sedo again and again for its experienced, trusted brokerage services and a marketplace featuring the largest portfolio of names in the world today. Sedo's online auction service cements the company's leading position by offering a new domain sales model that meets the industry's changing needs."


Some of the domain names Sedo expects will use the auction feature this week include Portals.com, Maid.com, Nerd.com, and Janitors.com. Bentley said some of the top sellers this year have been Bike.com for US$500,000; Blue.com,US$500,000; WiFi.com, US$225,000; and Nasty.com for US$200,000.


About Sedo


Sedo, "Search Engine for Domain Offers", is the leading online marketplace for buying and selling domain names and websites. Headquartered in Cologne, Germany, Sedo has assembled the world's largest database of domain names for sale, with more than five million listings. Sedo offers regional versions of its site for France (Sedo.fr), Germany (Sedo.de), and Spain (eSedo.com). For additional information, please visit www.sedoauctions.com

 

[JasMate]

LOL I guess they are not ready yet http://www.sedo.com/search/searchresult.php4&listing_type=auctions_only

 

[RareIQ]

anyone know when this will begin ?

 

[GoDesign]

anyone know when this will begin ?

Its off and running, thing i don't get is theirs dom's in the auction without any bids :O , i thought you had to first have a bid before you could enter into the auction..... maybe i'm just thick.

 

[ripley]

Yesterday, it seems. Look at the Sedo homepage.

Is it true, though, that they're only accepting domains for auction that have bids on them already? Because it seems that there are plenty with no bids, unless I'm reading something incorrectly.

No indications of how to get them up there, though. It seems for the moment to have replaced Sedo's featured listings.... (I for one wouldn't be happy if suddenly the featured listing I'd paid for was knocked off the homepage.)

ripley.

 

[GoDesign]

I found that confusing too, i thought it was because i was new to the etha.
Sedo should have done this auction as a completely seperate entity, with CLEAR guidelines of the procedure of requirements of entry.
Sloppy bussiness modeling and PR IMO. esp for newbies, like me.

 

[Sedo]

Hi There,

Just jumping in to clear up any confusion. Would have chimed in earlier, but I was out of the office earlier this week.

Sedo Auctions is designed for all types of domains. I think there might be some confusion on the ways to start an auction with your domain.

The first method is by starting an auction after receiving an offer through our traditional offer/counter-offer model. By starting an auction with that offer, the offer will act as the reserve and the starting bid. All auctions started through our marketplace end in a sale, as the initial offer acts as the reserve. There is no special cost associated with starting a domain auction. For Sedo’s standard commission fees please see our Site.

For premium domains we offer a Brokerage Initiated auction. In this case sellers will collaborate with a Sedo Broker to determine a reserve price. The auction ends in a sale only if the reserve has been met.

Sedo Auctions provide an easy way for buyers to find quality domains. Closing soon auctions are displayed on the Sedo home page and all auctions are searchable in the Sedo search engine. The auctions also enable sellers to sell at the domain’s true market value.

Let me know if you have any other questions.

Best,
Mara
[email protected]

 

[Damion]

The auctions also enable sellers to sell at the domain’s true market value.

Let me know if you have any other questions.

Best,
Mara
[email protected]

This is not entirely true in my opinion, for us sellers to iniate an auction, a low reserve, a reserve that has to be low to attract interest is necessary to start the auction.

And thereby risking underselling our domains.
Granted for Premium domains such as Tractors a reserve can be set which is desirable by the seller and can not be seen by the buyer so this is a good implementation.

But what about certain niche domains which are not one word generic domains?

In that scenario the seller is obligated to list their domain with a low reserve to get the attention of bidders and to get the domain into auction.
Which could result in underselling because the reserve the seller may have in mind was higher then the reserve placed to have a better chance to get the domain into auction.

Sellers are at the "mercy" of Sedo´s brokers for establishing if a domain is a premium yes or no.
This is a unfair implementation in my opinion.

Also something i am curious about is if a premium domain such as Tractors.com could have been listed with a Buy it Now price?

 

[goodkarmaco]

I just received a email from Sedo brokerage about some names I sent to a Sedo broker for review to be picked for the auction.

This email is the current policy at this time. I was told, at this time the only way to get name into the auction is if it has received a bid or has met the reserve. Then You can choose to have it in the auction. Maybe what is said between the lines to me is ( your name did meet our appoval placement.) I think it is like Damion says, 'they are not really being fair as to what names can be "chosen" for inclusion".

I see lots of names that are getting $60.00 bids. The names I showed for inclusion are top names that very well can receive $ thousands for bids, names I own like paytext.mobi. Another name I sent for review is paymoney.mobi These names are not worthy for inclusion in Sedos auction, lol

So all the talk about a name getting into the Sedo auction if it meets certain critera is not available at this time.

So at this time you cannot get a name in the auction by submitting it for review. The only way is to hopefully get a bid on it, then you can choose to push it into the auction if you wish.

I don't understand why they send us emails from Sedo saying you can get one in the auction without a bid if it is approved by a Sedo broker.Then when you email them a few names, "no we are not doing that at this time".

It is nice to see a auction format though I like the fact that you can push your name into it if it receives a bid.

Why not start another auction Sedo where anyone can place a name in a auction for a small fee? I have had names for a very long time that are buried in that huge Sedos site and have not received bids so how in the world can I get one in that auction?

I suppose Sedos answer to that is pay a huge fee to feature a name and then I might get a bid and then I can put it in the auction. If after paying a fee to feature it and I do not get a bid, I suppose Sedo would like me to pay another fee and try again.

Lol.. what a mess.



Roderick

 

[Damion]

A mess indeed, i hoped multiple platforms would have been implemented with various options.
I have spend a great deal of time to express my thoughts on this by creating a presentation that holds views expressed by the members who joined the Sedo auction suggestions thread and views of my own as well.

Unfortunately absolutely nothing has been implemented now from the presentation i put forward.
At first i was kind of excited about it but if this is the final end result then i am strongly dissapointed.

Hopefully some other company has the vision to do it properly if Sedo doesn't improve the current set up.

 

[duceman]

I agree with Godesign, Sedo should have made the auction house a entity.