Associated Cities GeoDomain Expo

[Provider]

I am not sure how this sytem called. I am pretty sure that most of the bids
were placed "on behalf of the sellers" - kind of didn't exist in reality. Please
keep in mind though that this was a small auction for one small niche of domain
names. Combination of factors led to poor sales.

 

[Creature]

At best that sounds controversial imo.

 

[Provider]

Monte actually explained it pretty good on another forum. This is a totally acceptable
system according to him. When I said that the bids weren't real I didn't want you to assume
that there is some kind of controversy here. At the end of the day if the name is sold it is better for the seller. If let's say you wanted to bid on holland.net. I placed reserve there
for 25k + moniker adds to it , so the total price is 30k. The auctioneer knows that this
name can't be sold under this amount. So he is calling any price to get the bid, but this
price that he calls is going to be less than the reserve. So, there is no ned to be upset
about anything here. If you are seller he is bidding on your behalf to the reserve price.
If somebody bids above the reserve the name will be sold. If you are the buyer you won't
buy this name below reserve anyway. So, basically this system is just to make it more
interesting for the room.

 

[DNWizardX9]

Well I will not be bidding in any of these auctions

 

[Monte]

the auctioneer getting to reserve is not only common practice, its almost required by large auction houses. You do not want an auction full of passes without some activity. Regardless, the bids of all the names were legitimate. go to any auction - christies, sotheby's, jacksons, they can start off high and work down or work low and get to reserve. Auctioneers work both ways depending on the venue, the asset, and then even mixes it up.

 

[Creature]

Nice explanation here about 'bidding off the wall':

http://www.videojug.com/interview/property-auction-craft#what-is-bidding-off-the-wall

 

[Rockefeller]

Anyone signed up for silent auction? If so, please contact me.

 

[muris]

Anyone signed up for silent auction? If so, please contact me.

PM'ed

 

[chois]

Anyone has any update on Silent Auction?

 

[oveber]

Anyone has any update on Silent Auction?

No bids

 

[chois]

GeoDomain Silent Auction has no bids at all?
Wow! That's amazing and really sucks...

Thanks for the info oveber.

 

[muris]

There are going to be some – they’ll start one hour before auction ends, as usual.

 

[oveber]

Update:

mexicocityblog.com $ 1,180.00 3 hours
newyorkboxoffice.com $ 530.00 3 hours
newjerseycabs.com $ 360.00 3 hours