Proposed Live Auction Rule

[RJ]

All live auctions start at 1 NP$ and sellers are not allowed to bid on their own names. This occasionally results in names selling for less than the seller would liked to have their names sold for, and may cause sellers not to list premium names in the live auction.

My proprosed rule is called the "buyout clause",

A seller may opt not to sell the name to the winning bidder by paying them a fee equal to 30% of the final bid price.

Example: Seller Jim lists coolname.com in live auction. Buyer Ben wins it for 200 NP$ high bid. This is lower than Jim would want to sell for so he pays Ben 60 NP$ for the right to keep the name. Ben is happy, Jim is happy.

Vote now!

 

[Shorty]

I voted yes, it's quite practical. If a seller feels his domain is going low, then 30% of "low" should be no problem to keep ownership of it..

 

[Scott]

Good idea :tu:

 

[DJ-Sound]

good idea, not 100% likeing it, but is better than stiffing a winning bidder

 

[SimpleDomaining]

i voted "NO" , i will explain on example. If i will want to make some money on the auction, i will bid as low as i can. And this will end up by recieving 30% of domains cost. All i am saying that people can take advantage on this kind of trick. Rule is rule. Seller may not bid on his domain. And by bringing domain to 1 np auction he knows, that his domain may go for 1 NP.

 

[.X.]

I think it's practical and fair to both parties.

 

[Gene]

I voted YES. This rule would certainly cause people to list much better names for auction! I say try it, and if it gets abused, go back to the old system. Nothing to lose.

 

[Mark]

I'm in for a YES -

It may keep the "Bad Blood" from coming in to the auctions - When folks ignore the fact these are/were No-Reserve Auctions .

 

[PolurNET]

i voted "NO" , i will explain on example. If i will want to make some money on the auction, i will bid as low as i can. And this will end up by recieving 30% of domains cost. All i am saying that people can take advantage on this kind of trick. Rule is rule. Seller may not bid on his domain. And by bringing domain to 1 np auction he knows, that his domain may go for 1 NP.

Hmm, that got me thinking to say "Maybe" on the poll... sometimes good intentions may be abused like you said. But it's overall a good idea

 

[jeter4982]

I voted YES. This rule would certainly cause people to list much better names for auction! I say try it, and if it gets abused, go back to the old system. Nothing to lose.

I completely agree. Try it out for an auction or two, and see where we end up.

Tom

 

[vip-ip]

Here's another add-on I came up: if the buyer wants to back out out of a bid higher than 100 np$ they have to pay 20% of their bid to the seller.

 

[Sabre]

I'm all for it, think its a great idea

 

[yandig]

I think that it's a fine idea, in that it allows the owner to back out if they don't like the winning bid. I voted "maybe" because I saw a few instances where I'm sure the high bidder was only bidding because they knew the owner would buy them out. Seems like a cheap way to make NPs and degrades the integrity of the auction, IMHO. But it does result in higher bids, which is probably a good thing.

 

[True_Snake]

I voted "Yes!" :tu: !

I think it's a great idea, and the benefits out-weigh the problems, IMHO :] !


True_Snake

 

[Stephen]

I voted yes.

Stephen

 

[-db-]

I also voted YES. Almost any rule or system can be exploited, but we have to start somewhere and this is a good place in my opinion.

 

[IAmAllanShore]

Love it!
Mind you, if I got _reallycoolnamehere_.com for $1200 NP I'd be stoked, and plenty pissed if the seller got out of it by paying me the $NP, but realistically... needs to happen.
-Allan :gl:

 

[gartrout]

Good rule! Nice agreement, up front. Seems like possible abuse by bidding low amounts that might get a "buyout" might actually spark bidding and bring price up for good names. If it brings the price up for a bad name, you get what you deserve, either way

 

[deu12000]

I agreed at first when I read this and I still for the most part do. But I think the percentage should be in levels. 1 - 1000 NP$ final sale price 30% buyout, 1001 - 2000 NP$ 20%, and 2001 NP$ and up 10% buyout. It's just so buyouts don't get to expensive on the seller if they want to put up premium domains.

 

[ChrisKL]

Let me get this correct:

Opening bids are 1 NP$ (even for premium sales??!!)
XYZ is auctioning .com
ABC bids and is the high bidder, but XYZ isn't pleased at the low offer.
XYZ pays ABC for the right to have the name back.

If so the flaw in the scheme is: if XYZ has to pay anything, he's not going to auction knowing the opening bid is but 1 NP$ and it can literally buy it. To add insult to injury, if a final bid is 400 NP$ a seller would have to pay 30% commission of that to buy it back. Resulting in the buyer pays nothing for the stint, and comes back 30% richer.

It will be abused.

CKL