Moniker live auction -- does anyone else feel misled?

[minimalist]

Did anyone else submit names to Moniker under the impression that it was for the "premium live auction", only to find they were included in the "extended auction" instead?

- In December I submitted a domain name (booboo.com) for consideration in Moniker's "Live Auction".

- On December 21st, I received a message requesting that I lower the reserve. I never replied, as I thought the original reserve was already low ($4000) (I've had offers for much more).

- On Thursday (January 21) I received a message that the name had been included in the "extended auction" (not the live auction) at the reserve I'd originally requested.

I contacted Moniker and requested the name be removed from the extended auction, as I'd never intended the name to be included in the extended auction. They replied that if it were to be removed from the extended auction, I would be charged the commission on the reserve, presumably because of the the anti-circumvention policies (https://www.snapnames.com/domainsales/agreement.action). When I complained that their correspondence made it sound as if the "live auction" was distinct from the "extended auction", they replied that I was taking the term Live Auction too literally, that Live Auction encompasses all of their auctions.

Am I alone in finding this very misleading?

 

[stewie]

rule 1... never set a reserve you are not happy with.

then you can't go wrong!!!

 

[minimalist]

Stewie, you have a good point, but don't you agree that it sometimes makes strategic sense to set a lower reserve for a live auction that will have the attention of more participants?

 

[BLazeD]

I think they were pretty clear that you were going into the extended auction if you weren't picked for the others.

I got a domain into the low reserve live auction, pretty excited bout that.

 

[paidvisit.com]

which auction domainfest?

 

[minimalist]

@paidvisit.com - yes, DOMAINfest.

@BLazeD - hmm, wish I'd printed the submission pages, because I don't have a record of the agreement. I don't doubt that the binding commitment was detailed in there somewhere, just that it wasn't readily apparent. Then again, I may be asking in the wrong place, as probably most readers here are auction veterans (I've only submitted names on one other occasion).

It's a good thing I learned my lesson with this name, I'll be more careful with my higher value names . . . and, in view of this experience, probably not use Moniker.

 

[DTalk]

minimalist...

My experience in submitting names to Moniker, is that Moniker's domain selection approach generally, in practice, is to give preference to names with what they consider not to be too high a reserve....They write to you, asking you to reduce the reserve if they think its higher than they would like....If you don't comply, they put it into their Extended Auction.


...Understand your disappointment in not getting the name into the Live Auction - but, it IS on auction (in the Extended Auction) - with the reserve you wanted, isn't it?

...So, why would you want the name pulled out?

 

[paidvisit.com]

not saying your name but there a lot of domains in domainfest with crazy reserves

 

[stewie]

The problem with setting a low reserve price is when you set the reserve price and submit your domain...you don't know if the domain will make the Live Auction or just the extended... I would not want a great domain with a low reserve price in the extended auction.

So set the domain at the price you would sell it for, or you are taking a risk. JMO

*I've have had Moniker come back a few times and ask me to lower the price crazy amounts...(not a chance) and about a month or two later sold the domain through Sedo or some private for close to what I submitted to Moniker. If you have a great domain you have to find the right buyer, not just any buyer.

 

[minimalist]

@paidvisit.com: It's one of 25 6-character .com names in the extended auction. 17 of those names have higher (in most cases much higher) reserves. I suspect that at $4000 it's almost a crazy low reserve.

@DTalk:

why would you want the name pulled out?

I set my initial reserve low to improve its chances of being accepted into the premium auction. My rationale was that it was worth risking a low sale for the additional exposure. I didn't realize that Moniker would just toss it into the extended auction without consultation. Now I have the risk of a low sale with only marginal additional exposure. I'd have increased the reserve to reflect the reduced exposure. Moniker was unwilling to remove the name or consider an adjustment to the reserve, even within the publicized range, without charging a commission.

Essentially, Moniker's attitude may be summarized as: "sorry sucker, you lose".

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[paidvisit.com]

@paidvisit.com: It's one of 25 6-character .com names in the extended auction. 17 of those names have higher (in most cases much higher) reserves. I suspect that at $4000 it's almost a crazy low reserve.

@DTalk:
I set my initial reserve low to improve its chances of being accepted into the premium auction. My rationale was that it was worth risking a low sale for the additional exposure. I didn't realize that Moniker would just toss it into the extended auction without consultation. Now I have the risk of a low sale with only marginal additional exposure. I'd have increased the reserve to reflect the reduced exposure. Moniker was unwilling to remove the name or consider an adjustment to the reserve, even within the publicized range, without charging a commission.

Essentially, Moniker's attitude may be summarized as: "sorry sucker, you lose".

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set up a fake moniker account and bid it up if it gets bid on and it isnt high enough for what you want to sell it for then dont pay as a non paying bidder in a fake account. Didnt that guy that worked at snapnames do that?

 

[minimalist]

set up a fake moniker account and bid it up

@paidvisit.com: LOL, I like your style. Unfortunately shill bidding is a violation of the seller agreement. I might be aggrieved at Moniker, but I play by the rules. Even if it means getting screwed over by them this time.

 

[minimalist]

Thanks everyone for your input. I've reluctantly decided not to pull the name from the auction. Now the next hurdle: transfer to Moniker. I initiated the transfer last Thursday, but it's still pending. Hope to avoid being hit with the $100.00 fee if it sells.

 

[URLtrader]

They asked me to lower reserves for some of my domains. I did not .

Guess what ? They included my domains in Extended Auction at my original reserves.

 

[minimalist]

They asked me to lower reserves for some of my domains. I did not .

Guess what ? They included my domains in Extended Auction at my original reserves.

My impression is that's what they did with many, if not most, submissions. Just dilutes the value of the extended auction, IMHO.

 

[shack]

Moniker has misled me and maybe others in this industry. I sent over one hundred domains for their Domain "Live Auction" a few year's back, I won't mention that live auction, But not even one of my Dot com's was taken into that auction or extended. The selection process must change for picking domain names into Live Auctions, I heard they receive over 30,000 domain names and they have to pick the right names to go into their live and extended auctions. I found out of 3,000 domains in that live and extended auction. that one person from Moniker's account holders got their domains in, over 500 of 3,000 domains in one aucton, now that's just not right! The selection process of getting your domains into the Live "Traffic Domain Auction" or extended shouldn't be so hard. We as domainers want to see the best domains around the world for sale and that's no politics would be involved or who you know to get your name in. This past Domain "Live Auction" I couldn't believe some of those domains for sale and with those prices.

Moniker has misrepsented their company and I would never do business with them.

 

[carlton]

I set my initial reserve low to improve its chances of being accepted into the premium auction. My rationale was that it was worth risking a low sale for the additional exposure. I didn't realize that Moniker would just toss it into the extended auction without consultation. Now I have the risk of a low sale with only marginal additional exposure. I'd have increased the reserve to reflect the reduced exposure. Moniker was unwilling to remove the name or consider an adjustment to the reserve, even within the publicized range, without charging a commission.

Essentially, Moniker's attitude may be summarized as: "sorry sucker, you lose".

Excellent summary and points you make.

This morning I wrote a pretty extensive piece on this exact topic: Domain Auction - Guidelines

 

[Onward]

Believe it or not...getting your name into the live auction is not the Holy Grail....not much selling these days to the domainer audience it attracts.

 

[hostsam]

Excellent summary and points you make.

This morning I wrote a pretty extensive piece on this exact topic: Domain Auction - Guidelines

Great piece of work, congratulations Carlton