For Sale Enom Club Drop new rules

[bocajohnh]

Here's an excerpt from enom's Club Drop T&C. I know it answered the questions I had, hopefully it helps others. Link to their page is at the bottom of this post.
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Bidding rules: You will have to place an initial Bid on the Expired Domains in your Drop List. The minimum Bid is 10 eNom Points ...

Bid Permutation A. If no one else lists the same Expired Domain in their Drop List, and if the Expired Domain is acquired, you will be awarded the Expired Domain and charged the Bid amount and registration fees, per Section 10.

Bid Permutation B. If you bid 30 eNom points or more, and if no one else bids 30 eNom points or more, and if the Expired Domain is acquired, you will be awarded the Expired Domain and charged the Bid amount and registration fees, per Section 10.

Bid Permutation C. If at least two of the Club Drop subscribers bid 30 or more eNom points, and if the Expired Domain is acquired, then a private auction will take place among only those who listed the Expired Domain(s) in their Drop Lists and bid 30 or more eNom points (those who bid less than 30 points will not participate in the private auction). The starting Bid during the private auction will be the highest Bid.

Bid Permutation D. If no one bids 30 or more eNom points, and if the Expired Domain is acquired, the Expired Domain will be moved to a public reverse auction, in which any Club Drop subscriber can participate, and in which the starting bid will be 60 Points. The starting price in the reverse auction will stay at 60 Points for 12 hours, thereafter the bid will be reduced by 5 Points every four hours. Your Bid at the time of the Release Date will be your Bid in the public reverse auction. You can only increase your Bid once the public reverse auction begins, you cannot reduce it. Anyone can select the Buy It Now option during a reverse public auction and will obtain the Expired Domain unless there is a Proxy Bid for the Expired Domain which is equal to or higher than the price level when the Buy It Now option is selected.

Bid Permutation E. Proxy Bids are available in the reverse auction (Proxy Bids are also described below in Section 3). A Proxy Bid in a reverse auction, much like a Proxy Bid in a standard auction, is the maximum amount which the bidder is willing to pay for the domain name. In a reverse auction, the Proxy Bid system will attempt to obtain the domain name at the lowest possible price which is at or below your Proxy Bid amount and above the next highest Bid. Additional examples of Proxy Bids in reverse auctions are provided in the FAQs and elsewhere.

Link to official enom.com document:
http://www.enom.com/auctions/clubdropsignup.asp

 

[Harmonia]

Thanks for the info.

Flora.

 

[David G]

Sure sounds complex, makes the unpopular Pool system sound simple by comparison.

Glad I never participated in Enop Drop Club as I would not want to learn all of that stuff.

 

[mole]

Glad I never participated in Enop Drop Club as I would not want to learn all of that stuff.

If you never participated in Club Drop or Pool, how do you ever get your names? :huh:

 

[stuff]

If you never participated in Club Drop or Pool, how do you ever get your names? :huh:

maybe snapnames?

 

[typeins]

It all sounds really complex but its pretty easy.

If 2 people only put bids of below $30 on a name and they get it then it goes into a reverse auction.. If you bid $30 on a name and nobody else bids $30 or more you get it right away.. if 2 people bid $30 or more than it goes into an auction.

 

[dvdrip]

What they should do is, not allow bids of $10 or $20 if a bid of $30 is already placed.
Also notify users that have placed $10 or $20 when a $30 bid is placed.

 

[typeins]

What difference would that make?.. The $10 bids mean nothing anyway so its not going to change anything by removing them.

 

[bocajohnh]

What they should do is, not allow bids of $10 or $20 if a bid of $30 is already placed.

Agreed, but it is really the bidder's fault if they don't see this when they place their $10 or $20 bid. All you have to do is look.

Also notify users that have placed $10 or $20 when a $30 bid is placed.

I don't trust their emails, yet. I check before the 10AM custoff, and decide if I want to up any bids.

 

[StockDoctor]

Too much crap!

They should just have the $10 thing, and if more than 1 bidder it should go to an auction. Simple. The other 30 and 60 dollar stuff is just them trying to squeeze the small stuff. These registrars are getting a little nuts.

 

[clemzonguy]

The new rules are very confusing but does allow the option to buy domains that you didn't originally add which I think is good overall. It cuts down on bottom feeding.

 

[stuff]

Actually I have picked up very good domains in reverse auction.
I really like it.

 

[mikesherov]

sounds simple enough to me:

if you really want a name, bid 30 points.
if you sorta want a name, bid 10 and pray no one else does.
if you kinda want a name, skip club drop altogether and pray that it drops under the radar so you can hand reg.

 

[typeins]

Yep its very simple.. they should have worded it like that though instead of all these permutations

They should have the "clubdrop for dummies" version of it under the text input box hehe