Third .Mobi auction to be rerun on January 23rd, 2008

[SedoCoUk]

Hello everyone,

Many of you have been asking about the December .mobi auction that was interrupted due to our server crashing. Per the DotMobi registry's requirements, the December auction results have been declared void. The auction will be rerun on January 23rd, 2008. Please read on below for Sedo's official announcement.

"On December 5, 2007, the third and final .MOBI auction was scheduled to close on Sedo’s domain auction platform. In line with the previous two .MOBI auctions, the available domains garnered significant attention and received many competing bids in the seven days the auction ran. The domains received so much attention in the final moments that Sedo’s auction servers crashed before the completion of the auctions, rendering our system incapable of processing many validly submitted bids, including proxy bids set by user’s using the feature to automatically bid up to a maximum amount, and sending out winner notifications in error.

While Sedo takes steps to ensure the stability and security of our services, the crash that occurred could not have been predicted given traffic spikes more than ten times higher than anticipated by previous high-traffic auctions. Decisions were made with the intention of protecting all parties involved, but as we have learned from investigating the crash more carefully since December 5th, the auction was compromised and as such, DotMobi has exercised its right to declare the auction results void and will conduct a new auction at Sedo.com beginning on January 23rd, 2008. Sedo will be contacting everyone who participated in the auction to inform them of this decision.

Sedo apologizes for any delays responding to user concerns about the close of the auction, but a thorough investigation was necessary to determine what exactly occurred when the servers failed. As the world’s largest marketplace for buying and selling domain names, we take great pride at Sedo in our efforts to ensure the operation and security of our marketplace at all times. While this crash has forced us to reconsider the maximum levels of traffic our site may receive at any given time, we can ensure all of our users that steps are being actively taken to strengthen our protective measures to ensure any auction—whether one domain or special auction event such as .MOBI—run smoothly and close without any of the problems we experienced on December 5th.

Thank you for your understanding and best wishes from Sedo during this holiday season!"

Thanks,
Monica

 

[CyrusL]

And the plot thickens...

 

[Devil Dog]

And the plot thickens...

True.

 

[Theo]

"the auction was compromised"

What exactly happened, in non-generic terms?

 

[CyrusL]

"the auction was compromised"

What exactly happened, in non-generic terms?

"this is what our legal department advised would be best"

 

[whitebark]

"the auction was compromised"

A reassuring quote for every Sedo user...

 

[Gerry]

How embarrassing...





for Sedo.

Considering that this may have potentially been a tax deduction for some in 2007 so close to the end of the year, an example of another investment strategy.

And that some of the "losers" (keep it down) of the bidding process have already taken those funds allocated and shifted strategies by purchasing other domain names and assets.

I certainly can not speak for everyone, but whether this was a .mobi or any other domain extension, unquestionably many of the winning and losing bidders have lost confidence in Sedo.

 

[muris]

Does it mean "611" has solid ground to support his complains?

 

[Gerry]

Whoa, I can't believe what I am seeing and reading elsewhere.

This may not even be the final word to this fiasco.

 

[nametrader]

I am not satisfied with the mentioned reason... is it that internet is virtual anything can be amended at will without consulting the persons involved(I am talking about bidders)

Are there no predefined set of rules and terms describing the solutions in such incidents? or is it just the blunt "auctions can be void at our discretion".

I will be happy if some light is shed on this so that people involved will rest at peace, as of now it looks like their feelings are hurt and there is nothing they can do!

 

[sashas]

what happens to those who got names for a lower price in the last auction? This is not exactly the right way to handle this. Wouldn't you be pissed if you won a name for 10k, and now it goes for 20k? I know I would be.

There's no way Sedo's coming out of this without leaving some very angry investors behind. I'm sure most of them will stop doing business with Sedo altogether.

 

[Creature]

DotMobi has exercised its right to declare the auction results void

Sensible. Who can blame DotMobi for declaring the auction void? Good move imo.

 

[Gerry]

I am not satisfied with the mentioned reason... is it that internet is virtual anything can be amended at will without consulting the persons involved(I am talking about bidders)

There were winners (pre-blackout) and winners (post-blackout) and losers all the way around. I lost out on one particular domain as the blackout failed to capture my proxy bid. I received notice of losing an auction for less than the sum I bid.

Now, was I the winner? If my proxy bid was not executed then neither were any of them. But based on my initial notice from Sedo, I did not win. But the amount disclosed that this one particular domain went for was not near my proxy.

The big issue now becomes will this solution of rerunning the auction be the answer. It may not even happen as I am under the impression that there are still some willing to take legal action and if necessary get an injunction.

Forget that it is a dot mobi, dot com, or dot anything. It is an auction. If this had been a collector car auction online and I found out that I was a winner of a 1954 Corvette for a hammer price of $125K only to find out later that someone won the same car for $150K due to some glitch, I would be highly pissed.

What further complicates matters is the downtime was not widespread. Bidders in Australia supposedly experienced NO blackout time, no Sedo down time. It was 4:15 am Aussie time. If this is the case, then I can not begin to imagine how complicated all of this can and perhaps will be.

But wait! There's more! Now Sedo has to refund all those that have already paid and some sites have already been built or planned or funded in progress! I am reading on other sites and blogs about winners being pissed off because they are now being told the domains are being pulled from the registars and their money is being refunded. Who in the hell is going to reimburse their fees, time, and interest lost?

No, I would not want to be in Sedo's seat. This is not some local estate auction down the road. This was international in scope and could get interesting.

Happy happy happy holidays!

 

[nametrader]

I have seen domains being reserved by the TLD authorities before, but those were never sold in public. When DotMobi started auctioning the creme themselves, I thought it is evolution of domain business. Now when they exercise their so called right to VOID the auction I started to feel that this is DICTATORSHIP and nothing else making fools out of investors. A task well done!

I know some of the concerned may wish to kick my a** but I don't give a damn!

Please note that these are my personal views as a domainer and DNF has nothing to do with this, forget that I am a MOD here for now.

 

[DomainingCom]

That's really a good decision, congrats SEDO.
Very profesionnal to admit your problems/errors and it's fair to simply void this auction.
On my hand I admit I am glad to can compete again to buy this great dot mobi name I lost simply because I was busy during the last minutes of the auction.

 

[Gerry]

Please note that these are my personal views as a domainer and DNF has nothing to do with this, forget that I am a MOD here for now.

Love the disclaimer!

But is it a right to void the results offered to all sellers? It may be.

For instance, I have exercised my right (and have insisted on such) to nullify the sales of an auction after the winning bidder did not honor his contract to pay within 10 days, as per Sedo's terms.

Sure, that's a different circumstance. But such controversy is not really mTLD's fault. The fact that a system in place (Sedo) failed may in fact be grounds for voiding the auction. I, for one, can not imagine anyone totally discarding a few millions of dollars had they thought this was done justly and fairly.

and i do not work for mTLD or Sedo...that's my disclaimer

 

[WeBuyThe.Com]

Timing is interesting. I believe this is the same date as the first live SNAP auction...

 

[Fearless]

Maybe some of the idiots that bid ridiculous amounts of money for .mobis will wise up and avoid the re-auction.

 

[Creature]

That's really a good decision, congrats SEDO.

Perhaps congratulations should go to DotMobi rather than Sedo.

"DotMobi has exercised its right to declare the auction results void"

 

[nametrader]

Perhaps congratulations should go to DotMobi rather than Sedo.

"DotMobi has exercised its right to declare the auction results void"

Who gave the right? Is it self defined and issued? or added to it's Terms and Conditions after this fiasco? or is it there before the auction took place.

If it is the latter I shut my mouth and go away from this thread.....

All of you who bid went ahead and Bid like crazy like there is no tomorrow, how many of you read the FINE PRINT