For Sale New MYID Auction - Working or not?

[lionfish]

The MyID.ca auction is covered in today's DnJournal lowdown:

http://www.dnjournal.com/archive/lowdown/2008/dailyposts/10-08-08.htm

MyID.ca's latest online Canadian (.ca) online domain auction is underway and will continue until 1pm (Eastern Standard Time) tomorrow (Oct. 9). More than 150 .ca domains are up for grabs including Single.ca, Lesbian.ca, Payment.ca, Races.ca, Shipment.ca, HomeBusiness.ca and Swimsuits.ca. Lesbian.ca has already met its reserve and the current bid is $20,000.

You can sign up to bid in the auction here: http://auction.myid.ca/biddereligibility.php and the auction itself can be found at http://auction.myid.ca.

 

[theinvestor]

Looks like... 8 out of 166 domains sold at MYID auction.

That's 5% ...not good.

 

[Kamloops]

Reserves were high on a lot of names, maybe even on my own. How do you see the final results anyways?

 

[stewie]

just by watching it... I dont think there is a spot yet.. that would be nice though.

 

[ianccc]

just logged in to MyID - the auction has been removed
of my 3 domains only one had a bid (did not meet reserve) - so MyID did mention that if
a domain did not meet reserve the seller can accept the highest bid even though it did not meet reserve?

 

[theinvestor]

Even if you are allowed to accept the highest bid. I assume the buyer has to accept it also. His bid isn't binding since the auction did not meet reserve.

 

[stewie]

Not just this auction but all auctions:

What is the advantage of hidden reserves???

...why not just start the bidding at sellers reserve price ... if there is a bid it goes to auction and the highest bid wins the domain.

any input would be nice...thanks

 

[theinvestor]

Apparently stewie. If people know reserves they are more likely to contact the users after the auction and then MYID doesn't get commission. That's what they told me...but i don't buy it.

Putting a starting price will probably get people to not put ridiculous reserves. That way you actually get some bidding going on.

 

[ianccc]

a Bid is a Bid - they committed to the price and signed the MyID agreement - not sure if the close of the auction negates this?

Even eBay has the last chance offer for sellers

so if any shenanigans are going on congrats you own it...........)

 

[theinvestor]

ian, that's not how it works. If i am bidding on a domain, and i know there is a reserve..and it does not meet reserve. I do not have to pay the price i put. Reserve was not met, plain and simple.

Just like LionFish said before...if you have a budget...you may go after a different name that does meet reserve. Why should i have to pay for a name that didn't meet its reserve now?

This was basically my point before though...to rule out funky bids...starting price should be your reserve price. How many names got bids and did not meet reserves? Give me a break!

 

[liberator]

theinvestor is correct I accepted a bid on a previous auction and it had to be re-approved by the bidder as they could have spent there $ on another name. As for reserve sellers have their choice of range or exact amounts

 

[whitebark]

I set my reserves really low and got bids but none sold. I won't be offering them to the bidders. The lack of sales is obviously a symptom of the larger economy in general. The reserve levels set by many reflected a market that existed nine months ago. I'm going to renew, hold and develop to ride this out. (though online sales have slowed as well)

 

[theinvestor]

What do you guys think about the names that did hit reserves?

overvalued? or fairly priced?

 

[hugegrowth]

It's been a brutal week in the stock market, lots of uncertainty and fear, so the timing of any auctions right now is unfortunate. Couldn't have been foreseen, but I think it had an effect on the outcome. There could still be some sales in the post-auction period though.

I can't believe how far the Dow has fallen, and how much billions in stock value has just evaporated. In my twenty years of market watching this has got to be the worst period I've seen. Nobody really knows how bad it's going to get, or when we'll reach the bottom. Some people like Jim Rogers had predicted this kind of scenario but it's incredible to watch it play out.

I am increasingly taking the position to focus on renewals, make the most from the names I have from all sources, and keep an eye out for distress domain sales to pick up some bargains if possible. I haven't done much fresh regging in the last month or so, and don't plan to for the near future.

This could be a period like 2001 to 2003 again where good buys in domains can be had for those sitting on cash. The internet and domains still have a good future compared to other media, so I'm still glad to be in this market.

 

[theinvestor]

Although i agree with you hugegrowth.
I wouldn't say that what has been selling has been a bargain.
The names in the auction were not cheap ..even the ones that sold.

 

[ianccc]

bidding history per domain is available to sellers in their MyID CP

 

[theinvestor]

How long does it take to receive the names after myid auction?

 

[stewie]

are the final results from the MyID auction posted anywhere???

 

[theinvestor]

Just to report...my first big transaction with MYID auctions went surprisingly well. It was much faster than i thought. Paid and domains pushed. Customer support by Gus is great.

 

[stewie]

Good to hear :yo: congrats!!!