Changing Monikers Live Auction

[Raider]

I was thinking about this "reserve" issue with Monikers live auction, I agree with them that a lower reserve encourages more bidding, and the domain will mostly likely sell, but most owners who have valuable domains, don't want to risk selling it for far less than what they deem its worth, like myself for example.

Moniker could very well conduct its auctions much like ebay does with some modifications, where the owner can set a fair reserve price (approved by Moniker) and hidden from public view, and then have a low starting price for the domain, as the price is bid up, they can show when the reserve price is met on the projection screen.

When I attended Internext, many domains missed the reserve that were not far off from the top bid placed, I realize bidders were given a price range, but the range was SO wide, bidders had no clue how close they came to meeting the reserve, ranges like 250K-500K, 25K-50K 10K-25K etc. when they didn't meet reserve, the auctioneer said something like, "were going have to pass on that one" and moves onto the next.

I appreciate the huge effort of Moniker putting these Live auctions together, but I feel there is much room for improvement, I'd like to hear opinions from those who listed your domains for either Live or Silent, and if your there Monte, feel free to jump in anytime!.

 

[PRED]

You bring up some good points raider girl.
I think objectively, Moniker can improve this area .
Put it this way, i am a huge Moniker fan & love their auctions, so why do i want nothing to do with their silent auctions?
Top businesses are always concerned when die hard customers want nothing to do with one element of their business.
I'd like to see a lower percentage for starters. Otherwise i may as well buy private when it doesn't sell. Domains are unique in the sense that (most of the time) you can get the sellers details.
Also the bandings are too broad in the pricing like you say & buyers should be allowed to put the reserves, they want.
Secondly ,the silent pages are as dull as hell. You've got web developers, use them.
Make it an enjoyable experience, brighten it up & make it visually interesting.
Thirdly, get rid of the tie in periods & the necessity to have to manually cancel or it gets automatically placed in other auctions, this is a 'process', i wouldn't associate normally with a Great company like Moniker.
You need to look at these issues as a lot of domainers feel this way imo.
Look forward to any feedback.
The Predmeister :smilewinkgrin:

 

[reclad]

> Put it this way, i am a huge Moniker fan & love their auctions,
> so why do i want nothing to do with their silent auctions?


I’m heading in the same direction PRED.

The feeling that I’ve been conned by Moniker is now overpowering.

I do have a series of names presently in their silent auction, and when
I read of the unprofessional shambles that masqueraded as a live
auction, I wonder what on earth I’ve gotten myself into.

The old line about feeling like a mushroom (kept in the dark and
fed on BS) resonates.

Moniker certainly induced me to put absurdly low reserves on the
names I submitted, with winning (e-mail) lines like:

“ …Remember that auction pricing strategy is different than other sales
environments. If a name is priced low enough, it will likely get several
bidders and the price should shoot up well into a range that is very
pleasing to the seller. … “ - Albert.

There must be horrified sellers (at the live auction) who saw their
valuable assets being tossed out in a cavalier fashion at the end.

And now we wait, totally in the dark (deliberately uninformed ?)
to see what's happened with our silent-auction names.

 

[Fearless]

The auction has attracted some deep pockets. I think they should do away with hidden reserves in the live auction. A lot of time is wasted with bidding on names that don't reach the reserve. The owners of names at the end of the list get short changed. That way those lower reserves will sell and those with ridiculously high reserves will quickly be set aside.

 

[Raider]

The auction has attracted some deep pockets. I think they should do away with hidden reserves in the live auction. A lot of time is wasted with bidding on names that don't reach the reserve. The owners of names at the end of the list get short changed. That way those lower reserves will sell and those with ridiculously high reserves will quickly be set aside.

If they completely did away with hidden reserves, I would think it would result in less bidding and less sales, no? I do agree that it would take up much more time, perhaps splitting the auction up into 2 days is something to consider. You want bidders to get caught up in the heat of the moment, that's what makes auctions so exciting, that's why I'm in favor of low starting bids as Moniker is, but the owners need a reserve to protect their assets as Reclad says.

As for the owners getting short changed at the end of the list, I happen to agree, bidders funds get depleted which leads to less bidding.

The 60 days automatic renewal of the seller agreement as Pred mentions, is in my opinion "scraping the bottom of the barrel", I too expect more from Moniker, if they MUST have one, I think they should set up a web page where the owner can log into and cancel at anytime, whats wrong with that?.

the silent pages are as dull as hell. You've got web developers, use them. Make it an enjoyable experience, brighten it up & make it visually interesting.

Could not agree more, what I would also like to see happen, is when a domain goes to Silent auction, the commission percentage should be cut to 10%, the 15% as I remember was derived from the cost of putting the live auctions together, this is not a live auction, so why the 15%?

 

[Wot]

The reserves were certainly not completely hidden - they are in fact listed on another forum so that one is out the window. I do not agree that they should be shown but just my opinion!

Low reserve to attract more buyers - just tried that with quite a good name at Sedo, on their advice, yeah I know!- got stiffed with a late bid and a lucky guy, in my opinion, has just walked off with a $x.xxx for low $xxx - se la vie! The name was lost in a myriad of third rate cctlds with no reserve!

First and last time.

 

[Raider]

Low reserve to attract more buyers - just tried that with quite a good name at Sedo, on their advice, yeah I know!- got stiffed with a late bid and a lucky guy, in my opinion, has just walked off with a $x.xxx for low $xxx - se la vie! The name was lost in a myriad of third rate cctlds with no reserve!

First and last time.

This is what I'm afraid is going to happen to most sellers in the next 14 hours, when Monikers silent auction begins, I hope I'm wrong about this, but well have to wait and see.

 

[ibydesign]

One of the things to look at in these auctions, is the fact is that it is, in effect, largely intra-industry. Domainers who realize that we're still way ahead of the curve are deliberately looking for a bargain (why not?), and find the auctions a great place to get one. In fact, this is one of the things that is hyped about the Traffic auctions; (ala don't miss out on the great deals at this auction; I can't believe some of the great deals that are going to be available, and so on). One could ask oneself a lot of questions about the impact domain prices from such an auction, can have, if the world only sees these purchase prices, which are (with some exceptions) mostly wholesale buyers and industry insiders. What would be really neat is to get these auctions into vertical markets and conferences that are the end user's natural annual conferences. (Cars, insurance, loans, etc. inidividually, and have a niche-focused domain auction in some of those hot areas.) I wonder if they would buy at all. I wonder if they would buy for more.

Before that happens, I agree a lot of bugs need to be worked out, not the least of which is establishing written criteria for how names are chosen to get into the auction (either one) in the first place, because a lot of choices for what gets in (and are kept out) seems completely illogical to me, if you look at the venue, what's hot in the market right now, etc. Obviously, there's some criteria I'm missing.

The reserve thing is meant to be a basement, and has ended up being the opposite threshold. It's unfortunate, and something's gummed up in the works on that, because a lot of sellers are ending up frustrated.

I also think it's ridiculous to be a seller, to be the ones bringing the domains to the auction in the first place, and not be able to track the progress of your own name(s) in the silent auction, if you can't attend. If eBay buyers had to be paid members to purchase on eBay, they would STILL give eBay sellers visibility of their own auctions. eBay respects their sellers, and so they should. They are the lifeline of the auction business.

That being said, and a lot left unsaid, I still applaud Moniker, and particularly Monte, for making progress each time, and hope the kinks get worked out soon. I know it's a lot of work.

 

[PRED]

One of the things to look at in these auctions, is the fact is that it is, in effect, largely intra-industry. Domainers who realize that we're still way ahead of the curve are deliberately looking for a bargain (why not?), and find the auctions a great place to get one. In fact, this is one of the things that is hyped about the Traffic auctions; (ala don't miss out on the great deals at this auction; I can't believe some of the great deals that are going to be available, and so on). One could ask oneself a lot of questions about the impact domain prices from such an auction, can have, if the world only sees these purchase prices, which are (with some exceptions) mostly wholesale buyers and industry insiders. What would be really neat is to get these auctions into vertical markets and conferences that are the end user's natural annual conferences. (Cars, insurance, loans, etc. inidividually, and have a niche-focused domain auction in some of those hot areas.) I wonder if they would buy at all. I wonder if they would buy for more.

Before that happens, I agree a lot of bugs need to be worked out, not the least of which is establishing written criteria for how names are chosen to get into the auction (either one) in the first place, because a lot of choices for what gets in (and are kept out) seems completely illogical to me, if you look at the venue, what's hot in the market right now, etc. Obviously, there's some criteria I'm missing.

The reserve thing is meant to be a basement, and has ended up being the opposite threshold. It's unfortunate, and something's gummed up in the works on that, because a lot of sellers are ending up frustrated.

I also think it's ridiculous to be a seller, to be the ones bringing the domains to the auction in the first place, and not be able to track the progress of your own name(s) in the silent auction, if you can't attend. If eBay buyers had to be paid members to purchase on eBay, they would STILL give eBay sellers visibility of their own auctions. eBay respects their sellers, and so they should. They are the lifeline of the auction business.

That being said, and a lot left unsaid, I still applaud Moniker, and particularly Monte, for making progress each time, and hope the kinks get worked out soon. I know it's a lot of work.

excellent post. you make some great points
Predator :-#: