Your thoughts about the NP live auction?

[fonzie_007]

Write your thoughts about the NP live auction.

Have you sold or bought any domains in the auction?
Do you have tips for other members regarding the auction?

 

[Sinfully Wicked]

I believe that setting a minimum fee that you will accept for your domain will still allow your domain to be sold: a good domain is a good domain. But bidders aren't going to voluntarily start out at a higher price if they don't have to.

In the future, if this doesn't change, I'm just going to bid low on all the good domains I can, hoping they will give me 30% np to keep the domain and negate the sale. That could be a real money maker!

Where's saggydimes when you need him ( or her ) ?

See if you set a fee people might NOT bid and like you said, if its a good domain its a good domain and if it is, it will get high bids, no point in setting a domain at 1000NP$ if everyone else thinks its crap, they should leave it the way it is starting from 1NP$, good domains = high bids, simple logic.

The whole point is to get the domain at the lowest possible price, thats why you just bid 50NP$ higher than the previous one, if someone bids 1k, you would go and bid 5k now would you? No

Thank you

Sin

 

[yandig]

Overall, I love the auctions! I appreciate everyone's work to pull them off.

It's sometimes hard to find info on Namepros about upcoming auctions. Perhaps there should be a permanent link on the main page somewhere, stating when the next auction will take place. Or maybe I'm just missing it

I think yesterday's auction had less immature participants than we've had in the past. That's a good thing.

One problem I'm having is determining which names to put into the auction. Domains that I think are quite inferior end up going for a lot more than the names that I list. I'm not trying to whine here, but just trying to figure out why the big spenders are bidding up some of these names that I wouldn't bid 50 NP$ on. Maybe I've just got domaining all wrong to begin with.

Also, I'm wondering if weekly auctions are too much. Maybe twice monthly auctions would help encourage higher bids, as people could stock up on their NP$ a little more.

Anyway, that's my little .02

 

[Epic]

Changing the time around would cause confusion for the members, plus 5 EST seems to be an ok time for most everyone. Yeah, you could move the time for a few people, but that might make dozens of other people not be able to make. I think it's good the way it is now.

 

[RogueWriter]

The whole point is to get the domain at the lowest possible price, thats why you just bid 50NP$ higher than the previous one, if someone bids 1k, you would go and bid 5k now would you? No

Yes, if you are a buyer, the whole point is to get it at the lowest possible price. If you are a seller, then the object is to get the price up as much as possible. This ain't no charity, Bub. Right now, there is no balance: you start the price off at dead rock bottom, and if no bidders happen to show up at that particular moment, then the domain goes for almost nothing. With that scenario, there is zero incentive for a domainer to risk a really nice domain in this auction. Most of the domains sold at this last auction were decent domains - and I would argue that almost ALL of them were underpriced. And yes, the 30% buyback allows you to turn a disastrous transaction into an unfortunate one, but it's not really a balancer in that it leaves one of the two individuals unhappy.

A minimum opening bid would: 1. cut the seller's loss in an unsold auction to 50NP, and 2. Ensure that, in the event of a bid, BOTH parties will be happy.

If I could set a minimum opening bid, I would consider tossing some really nice domains into the mix. Maybe FineJewelry.us, Westerns.us, KidFriendly.tv , etc. I wouldn't dare do that now, cause chances are I'd end up paying 400NP each for the privilege of not seling them.

 

[Marky_]

I love it - but I wish it was on a little earlier for us Brits
Also - I think it would be good to be on a Saturday rather than a Wednesday

 

[Badger]

Ah, problems with the NP auction system......?? Hmm, well first up there are inherent problems that are unavoidable - time zones for 1 - relative domain quality the other.

What i mean by relative domain quality (and with suggestion), is that most domainers have a minimum/maximum domain buying level. For me, i generally want domains in the $100 - $1000 (with exceptions) bracket..

So why not set the dates and aution levels early ie.

"5th march - nickel and dime ;starting price' domains" 50np listing fee
"15th march - mid priced 'starting price' domains ($50 - $150)" 150np listing fee
"25th march - premium 'starting price' domains ($150 and above)" 500np listing fee

Values and fees are only examples to give you the general idea.

Personally, at 11.00pm UK time, i currently take a quick peek at the auction list and PM someone whos likely to last the auction distance to bid on my behalf... If the list was a bit special, i'd stay up....

 

[smub]

well in my opinion

these auctions are really good and beneficial ... because you can get some nice domains for cheap price and when you are a seller you can get some nice price for your domain ...

since i live in U.S Eastern area so 5 PM EST is good for me.

 

[jeter4982]

I have attended quite a few NP auctions, and I think they are very well run. The time is good for me as it is now, but as others have said, you change it one or two hours before and after and you are then excluding a different timezone. About the listing fee, I think it is a good idea, but should be kept lower than 100 NP $. I think it also might be good if we institute a rule that if the domain doesn't reach at least the price of a .com domain in the NP $ regristry (495 NP $) + whatever the entrance fee is, then it is not sold, and the seller doesn't have to pay the buyout fee. This way if a seller pays the entrance fee than he is guarenteed to at least get back the reg. fee of the domain, and the entrance fee to break even on the auction...

 

[floatingworld]

I have attended quite a few NP auctions, and I think they are very well run. The time is good for me as it is now, but as others have said, you change it one or two hours before and after and you are then excluding a different timezone. About the listing fee, I think it is a good idea, but should be kept lower than 100 NP $. I think it also might be good if we institute a rule that if the domain doesn't reach at least the price of a .com domain in the NP $ regristry (495 NP $) + whatever the entrance fee is, then it is not sold, and the seller doesn't have to pay the buyout fee. This way if a seller pays the entrance fee than he is guarenteed to at least get back the reg. fee of the domain, and the entrance fee to break even on the auction...

can't say I agree with that. many domains are not worth reg fee, and I don't see why sellers should be protected with a reserve price. why should the sellers have a 1-way bet? despite some protracted whingeing elsewhere in this thread, if you want a reserve then don't run in the auction and instead sell in the ongoing forum auction or fixed price forum. if one can't stand the heat then stay out of the kitchen...there are plenty of other domainers in the queue with red blood in their veins

 

[RogueWriter]

Making suggestions should not be confused with whining. Why should the sellers be allowed a reserve price? So they will be willing to auction off decent domains. If you are happy with bidding on mediocre to below average domains, that's fine for you.

 

[fonzie_007]

I think the buyout option should be reduced to 15%. I would then be willing to put up some of my better domains.

 

[SpareDomains]

I like them, I do wish that they were 1-2 hours later so I would be settled and could pay more attention to them.

 

[fonzie_007]

RJ and staff, would it be possible to have the auctions at 5PM PT rather than 5PM EST?

 

[Badger]

RJ and staff, would it be possible to have the auctions at 5PM PT rather than 5PM EST?

Thanks, that would make it what, between 3am and 5am across most of europe...

Cool...

tell you what, why not make it 3pm GMT, then it can be you sitting there with matchsticks propping open your eyelids while im watching the wiggles under duress with my little girl...

 

[fonzie_007]

Badger, remember, I am the person advocating having more than one live auction per week. One more for the US crowd and one for the international crowd (start times would be adjusted accordingly so that the most people possible could participate). I also think domains should be posted a day in advance so that people can see what is up for auction and the buyout rate should be reduced to 15% (capped at 250NP).

Of course, the argument (among others) against is: if it ain't broke, don't fix it.

 

[diddie]

The time of auction will always be a problem, so better not touch to it.

 

[Albert]

It's 5AM in the morning so no luck to have chance involved. Suggest to have time in the morning and night

 

[Aaron D.]

Hmm, after a little thinking about it, I suggest adding the domains to the list a few days before and allow pre auction bids on them that are hidden to everyone except RJ (or whoever is helping RJ) during the auction. The highest pre-action bid could then be used as a starting bid. This way the people who can't be at the action have a chance to get the domain if they really want it. However you could charge a fee for making the bid win or lose to keep people from using it instead of the auction.

 

[EbookLover]

I agree with ManicGirl on the time. How can you not. It would be impossible to please everyone. But I think we are all just thinking out loud.

I also agree that there is mega junk a lot of the times, but then, I guess that is to be expected with NP$ auctions.

If there is only to be one auction and not multiple at different times as suggested, I guess it would be best to start a poll asking frequent participants what their time zone is. My guess, though, is that most will be from US times zones.

 

[SimpleDomaining]

my 2 cents.
I see a little problems with this auctions.
1. auction must start from 1 NP, and seller cannot set minimum bid.
As a result nobody bring really good names to the auction.
2. Auction timing should be convenient for USA and UK. But i am sure nobody want to loose a buyer just because he must sleep when auction is on.

To resolve problems and to please everybody, we need automated auction 24/7. Seller come put his domain to auction. every auction is 24 hours, so everybody can see auctioned domain and bid on it. It needs to be a little fee of 25NPs, for example, to put domain on auction, and seller should be allowed to set a minimum bid at additional fee. And as a result , everybody will be happy. IMHO

Hmm, after a little thinking about it, I suggest adding the domains to the list a few days before and allow pre auction bids on them that are hidden to everyone except RJ (or whoever is helping RJ) during the auction. The highest pre-action bid could then be used as a starting bid. This way the people who can't be at the action have a chance to get the domain if they really want it. However you could charge a fee for making the bid win or lose to keep people from using it instead of the auction.

Why whould somebody bid on pre-auction and by doing it, rase a price of the domain, which he is going to buy on the auction????