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First exclusive .au domain name live auction

Discussion in 'Networking Events' started by demandclass, Dec 4, 2011.

  1. demandclass

    demandclass Membership: Community

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    Hi all. I'm putting together the first exclusive .au domain name live auction to be held in Sydney at the Billich Gallery at the Rocks on March 6, 2012. I am still working out many of the details as the event planning infrastructure is fixed, but plugging in all of the details is going to be taking place over the next 6 to 8 weeks. Here is what I can release for now:

    Place: 106 George St, The Rocks Sydney | Billich Gallery

    Time: 6.30pm - 10.00pm

    Inclusions: 1 bottle of Pomeroy champagne for all attendees- (1 signed bottle by Billich); 4 course meal, open beer and wine bar with quartet music entertainment; major sponsor professional address;myself speaking- a bit of industry, but more will be about appreciation of synergy and the importance of networking; special celebrity business person speaking; live auction; after party at a location to be named.

    Auction Start Time: 8.30pm

    Host/MC: Mr. Mark Tonelli / Real Estate News on Sky News Business

    Auctioneer: Mr. Paul Casarotta / Auctioneer on Channel 9's The Block

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    If you have a premium domain name that you would like included in this historic auction, then please submit it to james@virtualpropertyexpert.com.au and I will be in touch. I am taking soft submissions until February 7, 2012.

    Thanks and there will be much more to come about this in the coming weeks.

    James
     
  2. Rhythm

    Rhythm Membership: VIP

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    Awesome!
     
  3. zhenjie

    zhenjie Membership: VIP

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    This will be a great milestone in au domaining!
     
  4. demandclass

    demandclass Membership: Community

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    Thanks Rhythm and thanks zhenjie. The time is right and as long as it's done properly, and I do believe that my business plan for it is fantastic, then all involved will win. As we move into 2012, there will be many firsts and a lot more acquisitions of web based companies as well as domain names, hence virtualproperty.com.au will be born. The amount of work seems endless, but as long as I keep having fun with creative ideas and can stay focused, who knows where this road will lead. Thanks again.

    James
     
  5. soj

    soj Founder

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    This is good stuff James. I admire your initiative and positivity.

    Don't need to teach you "how to suck eggs" ;), but if I could add some input, I think it is vital to have:

    • Names that are both attractive (for whatever reason) - and are priced to sell. In other words, realistic expectations from vendors.

    • Potential buyers lined up - in the room or on the phone or on a live auction stream.

    • Momentum. "The Block" finale auction was widely viewed as being a bit of a fizzer because only one out of four sold on the day.

    But you know all that, and I'm sure you will factor all that in to your planning.

    Good luck. :)

    Cheers, Ned
     
  6. segator

    segator Membership: Trader

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    Fantastic news. Well done James.
     
  7. demandclass

    demandclass Membership: Community

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    @ Ned:

    > How to suck eggs or dodge them ;)

    Yes mate I'm very well aware of the fizzer effect. The approach to this is to first and foremost be successful, therefore, being realistic with the determination of value to match the participants and have the buyers dictate the market value on the day is my ultimate goal for a true win/win/win. I like "win win" as it's been instilled in me that both parties truly need to win in the deal to make headway for further deals to happen. When I say win/win/win, I am speaking of seller, buyer and industry.

    I'm working on a format now with some software as well as an independent firm that will be handling that side of it. Even though I am not participating, I still want the entire thing out of my hands with the exception of negotiating afterwards in case a name doesn't meet reserve.

    I already know of 4 domain names that will be in it that I own and my goal is to have 100% of my names sold and be realistic with expectation of market. I have put almost 900 of my domain names on Netfleet.com.au in their Aftermarket Auction and none of them have reserve. Most were registered, but some are ones that were purchased aftermarket privately as well as in the expired auctions on NetFleet and Drop that cost hundreds and one or two I believe over $1k. < I'd have to tangle back through the invoices, but I'm pretty sure from recollection that there is at least one over $1k mark and possibly another.

    I want to know the status of the market today across a range of vertical markets and what names like forexcalculator.com.au and fxcalculator.com.au as well as lunchrecipes.com.au and silvertrading.com.au will bring on this platform with no reserve. :)

    Regarding the buyers, I have my marketing strategy well in play and I already know for a fact that 2 of the companies that are going to be invited have each paid over $100k for domain names and more importantly, their competitors know it and see it in their seo budgets as they try and catch them in the serps. The maximum in personal attendance will be 100 (50 rsvp respondents and a guest).

    Thanks again Ned for the great advice and we will be having a chat soon regarding it. :)
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    Thanks as well for the affirmation Segator. I appreciate it.

    James
     
  8. Drop.com.au

    Drop.com.au Membership: VIP

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    Hi James,

    Can you share the fees associated with selling a domain in this auction?

    Cheers

    Andrew
     
  9. demandclass

    demandclass Membership: Community

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    Hi Andrew. Thanks for your question. Right now everything with regard to pricing is soft planned and I'm looking at the existing model on Netfleet Aftermarket Auctions as seller covering the COR etc and I'm weighing pros and cons. There is definitely a fee and I do know that it will not exceed $250 per entry. I will have more information once it's firmed up how I'm going to structure it. Thanks again.

    James
     
  10. Max

    Max Membership: Community

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    //it will not exceed $250 per entry//

    Domain name entry per domain or vendor with multiple domain names ? attendee entry ?
     
  11. James

    James Membership: VIP

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    I may be interested with a few people coming too.
     
  12. demandclass

    demandclass Membership: Community

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    Hi Max. Thanks for your interest. I'm in the process of firming everything up and it will be live on VirtualProperty.com.au by New Year's day. The website is being built out now and should be completed by January 1, 2012.

    To assist you a bit, it would be $250 per domain name accepted to be included. There is no cost for attending if you have domain names in the auction or you a buyer. It will be an Aussie/American dinner and bar. I have had to change the strategy of the auction per no interest from the supply class in participating. I am committed 110% to doing it as deposits are already in motion and I've received as of today 16 rsvp from buyers interested in purchasing domain names.

    So for now, there will be no domain name industry related participation and as of now, I'm looking to do only my names and the few that I would choose to include into the auction that I believe will sell. It's not about the $250 fee per name for me to revenue raise as I'm not interested in that at all. I am interested in supplying buying participants the best value for money domain names and making the event successful.

    Thanks again for your question and all of the info will be up by 1/1/2012.

    James
     
  13. demandclass

    demandclass Membership: Community

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    Hi James. Thanks for your interest. Same as to Max above- all information will be on virtualproperty.com.au on Jan 1st. :)

    Thanks again.

    James
     
  14. xwdomains

    xwdomains Membership: Community

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    Great news james
     
  15. DnEbook

    DnEbook Membership: VIP

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    would love to see it filmed for future reference ?
     
  16. demandclass

    demandclass Membership: Community

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    What a great idea Rod. I will get that done. Fantastic idea and I love creativity. Why not archive the first ever exclusive live .au domain name auction. That is genius. It will add to my inflated budget, but will make sure that it gets done as it will be historic for sure. Thanks Rod.

    James
     
  17. Designer

    Designer Membership: Community

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    What's happening with auction? Nothing on your website.
     
  18. demandclass

    demandclass Membership: Community

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    Hi Designer and others. I am firstly sorry for posting this late as I've now known for a couple of weeks that I would be postponing this event. There are 3 factors that I've decided to delay the auction and it's the right and responsible decision for me personally at this time.

    I will update this thread when I put it together. I still do hope that I'm first to market as one of the factors was that there is no real belief in the .au market even by the major players that are currently benefiting from domain name sales and even setting new records. I hope this changes in the coming months.

    Thanks again.

    James
     
  19. Designer

    Designer Membership: Community

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    So believe it when we see it?
     
  20. Designer

    Designer Membership: Community

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    @demandclass - Auction idea officially dead?