Jan 3rd 2008 DomainTools.com Online Auction Official Thread

[DotWeekly]

Ok, we finally have official word from DomainTools.com about the online auction they will be having.

Date: Jan. 3, 2008
Place: DomainTools.com (Online Only)
Time: 11:00 am PT

You can submit up to 20 domains total. For more info, please see the following link.

http://www.domaintools.com/live-auction/ (you must be logged in)

 

[Spade]

Well, no one will know anything till Christmas Day....

 

[DotWeekly]

isn't even a 10% drop in reserve ridiculus

$10,000 Reserve
No sale drop to $9000 with sale
-$900 for fees = 8100 = 19% sales charge to sell your name

Don't want to see bad things around every corner but this type of thing could be VERY bad.

personally, I am boycotting anything domaintools until they clean up the issues in the thread above here.

Considering most places charge a 20% commission, I don't see this as a big deal. If they do not sell in the auction, it's because of two things..

1.) Priced to high.
2.) Domain is not that great.

If it's priced to high, then the reduction in price is needed and should help sell the domain. If the domain isn't that great, then the price reduction shouldn't matter, as it most likely will not sell in the After Auction Sale either.

 

[Ross]

How long does it take them to gather the stats usually?

 

[DotWeekly]

How long does it take them to gather the stats usually?

Not fully sure. This is a "New" system they have in place. So most of it is New to us all. I hope they pick some soon, or say the ones that will Not make it, so we could send in a Second submission.

 

[Ross]

Has anyones domains been picked yet?

 

[Devil_Dog]

Has anyones domains been picked yet?

.

Well, no one will know anything till Christmas Day....

 

[Jeff]

What's the Second submission, again? :red:

I'm still in "gathering stats / pending review" status for 10 domains ... and realize final word may not come on some or any 'til the 25th, as well! :blink: :santa:

Thanks much.
-Jeff

 

[Ross]

Im sorry about all the questions, but what is the DT Rank and how is it determined?

 

[Carlton]

Final auction list to be posted 12/25 was told in email.

 

[Jeff]

:hi:
You guys getting pumped up for Christmas Day? :lala: :santa:

Please post updates here (#/submissions accepted, etc.) if you'd be so kind ... :talk:
Thanks and best of luck!
-Jeff

 

[Sameh]

:hi:
You guys getting pumped up for Christmas Day? :lala: :santa:

Please post updates here (#/submissions accepted, etc.) if you'd be so kind ... :talk:
Thanks and best of luck!
-Jeff

i'm eager to hear about it but i think it will be by 12/25 as posted above.

 

[Jeff]

i'm eager to hear about it but i think it will be by 12/25 as posted above.

Righto ... I meant to post our updates here (for instance, how many were accepted of ours, etc.) after the Christmas morning notifications! :red: :imho:

More gifts & presents ... gimme. gimme. :p :lala:
-Jeff

 

[Sameh]

I was checking my list today and i saw this new notice :

Congratulations, you are done!
We will send you an email when we finish reviewing 20 of your domain(s)

 

[Michael]

I was going to submit 545.com, but I decided against it because of the 10% below reserve rule if it doesn't sell at auction. The whole point of a reserve is that you don't have to sell if bidding doesn't go over that amount.

Lets say I want to set a $10k reserve because if it only goes up to $9k I'd rather just keep holding the name. If I do that and it doesn't sell initially, I'd be forced to sell at a price I'm not comfortable with. Thus I'd have to submit it at a 10% higher reserve than I actually want, which might discourage bidding.

Are these auctions only for people who don't actually care about a reserve?

 

[npcomplete]

I was going to submit 545.com, but I decided against it because of the 10% below reserve rule if it doesn't sell at auction. The whole point of a reserve is that you don't have to sell if bidding doesn't go over that amount.

Lets say I want to set a $10k reserve because if it only goes up to $9k I'd rather just keep holding the name. If I do that and it doesn't sell initially, I'd be forced to sell at a price I'm not comfortable with. Thus I'd have to submit it at a 10% higher reserve than I actually want, which might discourage bidding.

Are these auctions only for people who don't actually care about a reserve?

545.com is a great name. You made the right decision imho. In the discussion above there was mention of two primary reason for names not selling: high reserves and low quality names. I would add a third reason: auction attendance. If the people at the auction are not representative of the market, then the results can either be no sale or low priced sale. With a name like this I might be inclined to wait too... and look for better conditions or market representation. With a domain like 545, I would not sign a contract that forced me to sell at *any* level after the main auction is over, let alone 10% below the auction reserve.

Marc

 

[wot]

I have pulled all mine pending what happens in the next few auctions- In no hurry to sell low. :gl:

 

[DotWeekly]

Simply put.....

If you are worried your domain will not sell in the auction, but you would list it for X amount, simply add 10% to what you were going to list it for! Then no matter what, you will get the price you were asking.

DT better start accepting soon... lol, because I keep changing all my domains. Soon, I will have a All New Batch in there then when I first submitted.

 

[Michael]

I would add a third reason: auction attendance.

Very good point that nobody seems to have touched on yet. I'm sure there are people with crazy reserves on LQ names, but if the players aren't there then all is for nothing.

If you are worried your domain will not sell in the auction, but you would list it for X amount, simply add 10% to what you were going to list it for!

But the higher the reserve the more it discourages bidding. If someone has a reserve close to the real market value of the name, they'll either be forced to make it overpriced or risk selling at 10% below market value. Neither of those is a good choice IMO, which is why is pulled my names.

 

[DotWeekly]

But the higher the reserve the more it discourages bidding. If someone has a reserve close to the real market value of the name, they'll either be forced to make it overpriced or risk selling at 10% below market value. Neither of those is a good choice IMO, which is why is pulled my names.

If you are investing wise, 10% off market value should be not an issue. By you saying your worried about selling and I assume it's your NNN.com, let's say at $6,500 usd. If you purchased at - 10% of that, $5850 it was a long term investment, and shouldn't be sold now anyway. Would it sell at $6,500, I think so. Would it sell at $5,850, yes it would.

Those who take risks will be rewarded. imo . I think a big miss here, that is not pointed out that much. It's an Online Only auction, and I think this is Great. Last auction had over 1,000 people online. I just watched a video from the PubCon auction and there was probably less then 100 people in the room and there was NOT an option to bid online. It's Way more likely to have people at the auction when it's FREE and Online. I still think the Online/Live auction is the best, like the last DT auction but Online only, in a Real Time auction is a very close second.

 

[sashas]

Yofie, what would you say is a better bet at this stage: the DRT auction, or the Snapnames Live auction?

 

[DotWeekly]

Yofie, what would you say is a better bet at this stage: the DRT auction, or the Snapnames Live auction?

Are you asking about the April 8th auction or the Jan 3rd ?

 

[sashas]

The Jan 3rd one..

 

[DotWeekly]

The Jan 3rd one..

That's what I figured but I wouldn't consider the Jan 3rd auction as a DRT auction. The Domain Round Table auction is the April 8th event, which is a Live Auction as well as an Online auction.

Anyway,

Personally, I like the DT (DomainTools.com) auction. People already have used the interface. You do not have to Transfer your domains to some odd registrar. DT is marketing to all past customers who bid in the last DRT auction among others.

Why I wouldn't choose the Snap Live Event Vs the DT online auction.

1.) You have to transfer your domain to Udomain. This would be ok if you were guaranteed the domain would sell, but you are not.

2.) First time event. Although many of us have bid at SnapNames, this does not mean they will be using the same bidding interface with the live auction. It is totally different to hold a Real Time Auction, instead of a Live Auction.

3.) Two day event. I just don't like this idea. Takes up more of peoples time. I think most will pick One Day to bid if they like a domain.

4.) Have to submit your domains well over 1 month in advance. (DT is really only 10 days)

5.) There is a Download Required to see/bid in the auction online. This might not be a big deal to some, but is still a pain and could be a problem for the last minute bidders. Let alone if they have troubles with the downloads due to not having a certain plug in etc.

6.) Buyers can only pay with Paper Check or Wire only.

7.) 15% commission. (DT is 10%)

8.) Costs $595.00 - $995.00 to get into the Live Event.

 

[Spade]

Well... Forced to add a Credit Card for verification - instead of just using paypal. (also forced to pay $1)... A bit annoying, but perhaps necessary.

Justin

 

[gubera]

Well... Forced to add a Credit Card for verification - instead of just using paypal. (also forced to pay $1)... A bit annoying, but perhaps necessary.

Justin

I just pulled the one name I submitted because of this. Didn't have much of a chance to be in the auction anyways.