Intro to $10 Domain Auctions

[neddy]

We have introduced this sub-forum to enable members to list any domains they may be dropping / not renewing.

This is a great opportunity for sellers to get a small return for some of their domains; and for buyers to potentially pick up some bargains!

Just remember that (sometimes) many domains that get dropped end up selling for $100 / $200 plus.

These are the basics:

• Listings run for 48 hours e.g. you list at 10am Monday; it closes 10am Wednesday. Please state time zone e.g. 10am Monday QLD or AEST.
  
  
• Auction must run its course - no B.I.N. allowed.
  
  
• Starting price $10 - thereafter in $2 increments.
  
  
• Nothing to stop someone putting in a higher fixed bid during auction.
  
  
• Domain must be sold - can't be withdrawn if there is a bid on it.
  
  
• If there are two identical bids at the close of auction, then winner will be judged on priority of post. e.g. two people could put in identical bids of $15 at one minute before deadline -
  therefore winner would be person whose post appears first.
  
  
• If a higher bid is received after auction closing time - even by one minute; this bid will not be allowed. If there are no bids, then seller can elect to take late offer at their discretion.
  
  
• COR fee to be paid by purchaser, and amount will be included on invoice. (That way seller controls process). Buyer and seller to cooperate with regards registrar, but it would seem logical
  to do it through Drop at $29.95 - or Ventra at $19.95.
  
  
• If seller is registered for GST, then GST will be added to invoice.
  
  
• As these are dropping domains, COR will invariably need to be done very quickly so as to avoid any expiry problems. 24 hours seems reasonable.
  
  
• DNT is only providing the platform, and is not responsible in any way for the sale or purchase.
  
  
• Normal market place rules apply - however we will allow one "bump" within the 48 hours.
  
  
• Maximum of three individual listings per day per member - though nothing to stop a multiple listing. e.g. list two or more domains in the one listing and hope that the price gets above $10!

This would be a typical sample single listing:

Domain: greatdeals.com.au

Auction expires: 9am QLD time on Wednesday 16 May 2012.

Registrar: Drop.com.au

Comments: (if any)

-------------

This would be a typical sample response:

$10

 

[aus11]

Great initiative Ned! Looking forward to seeing what is on offer.

I've noticed a lot of sales threads get off topic pretty quick. Do we have a rule that responses can only be bids, not comments?

 

[neddy]

Great initiative Ned! Looking forward to seeing what is on offer.

I've noticed a lot of sales threads get off topic pretty quick. Do we have a rule that responses can only be bids, not comments?

Indeed Tom!

In this particular instance, a bid is all that is required. e.g. $10. No comments.

Should anyone have any questions (which would seem unusual), they can PM seller.
.

 

[Ash]

Great idea! Need to add timezone to example just to drum it in.

 

[neddy]

Great idea! Need to add timezone to example just to drum it in.

Thanks Ash - done.

 

[Ash]

Given that timezones can be confusing (especially when daylight savings applies to some states/territories but not others) would it be reasonable to allow an extra bump when the auction is within two hours of closing, that way regardless of time difference everyone knows there are two hours remaining before close of auction. Just an idea?

EDIT: Scratch that... probably just confuse things.

 

[fcdoms]

Excellent - thanks Ned. Tweeted.

 

[Honan]

I believe if a name expires shortly, the COR might be double
What do you reckon, Andrew?

 

[domainlover]

Good initiative Ned, nothing worse than seeing one of your names drop and then go for a pretty penny.

 

[neddy]

Good initiative Ned, nothing worse than seeing one of your names drop and then go for a pretty penny.

Thanks Angelo! However it wasn't my sole initiative by any means - FPR was the catalyst along with a few others.

Now don't be bashful or embarrassed - what was that domain you let drop ......... ?

 

[segator]

Hi Ned,
Any chance of having a fixed upload template to create an auction?

 

[neddy]

Hi Ned,
Any chance of having a fixed upload template to create an auction?

I'm not sure Segator - it's probably easier to cut and paste someone else's listing and edit.

But FPR will perhaps comment.

I'm sure we will have a few refinements to the process along the way.

Actually, as much as it pains me to say (because he will laugh), Honan the Rebel's suggestion of making the listing 48 hours from time of post is not a bad one. It does time stamp it and will avoid any possible arguments.

So a listing would read (in part):

Auction expires: 48 hours from time of post (see top left hand corner of this post) - or approximately 12.30pm AEST on Wednesday 16 May 2012.
.

 

[findtim]

great idea, one mans trash............

admin you should add to the "basics" for the future readers that "dnt reserves the right to change the rules in the future"

i think as this evolves you will find changes need to happen.

but essentially a great idea.

tim

 

[findtim]

I believe if a name expires shortly, the COR might be double
What do you reckon, Andrew?

i think most people would know they are going to drop a domain at least a month in advance, i get 90, 60, 30, 14, 5 and 1 day reminder emails for renewal so maybe the domains should have at least 14 days life on them just so everythign goes smoothly.

tim

 

[Drop.com.au]

I believe if a name expires shortly, the COR might be double
What do you reckon, Andrew?

Hi Joe,

I would advocate not leaving this kind of sale until the last minute - give yourself at least 7 days prior to expiry - 2 days for the auction and 5 days for Payment and COR, longer if you have to use paper COR's or transfer the domain into VentraIP or Drop.

You certainly don't want to pay for a renewal and a COR.

Admin - is it worthwhile defining a timeframe for invoicing and payment?

Andrew

 

[Honan]

Hi Joe,

I would advocate not leaving this kind of sale until the last minute - give yourself at least 7 days prior to expiry - 2 days for the auction and 5 days for Payment and COR, longer if you have to use paper COR's or transfer the domain into VentraIP or Drop.

You certainly don't want to pay for a renewal and a COR.

Admin - is it worthwhile defining a timeframe for invoicing and payment?

Andrew

Thank you cobber

 

[neddy]

I believe if a name expires shortly, the COR might be double
What do you reckon, Andrew?

The beaut thing about Drop is that even if the domain has expired and you are in the 30 day grace period, you can still do a COR (without renewing domain).

Admin - is it worthwhile defining a timeframe for invoicing and payment?

Good point Andrew - have added this to initial post / rules.

As these are dropping domains, COR will invariably need to be done very quickly so as to avoid any expiry problems. 24 hours seems reasonable.

 

[Drop.com.au]

The beaut thing about Drop is that even if the domain has expired and you are in the 30 day grace period, you can still do a COR (without renewing domain).

Unfortunately you can't COR on an expired domain, Ned

 

[Drop.com.au]

Unfortunately you can't COR on an expired domain, Ned

Ned followed me up on this and I stand corrected.

We believed that you couldn't COR an expired domain so we sought clarification from auDA and ausregistry and apparently you can!

That's great news!

So to clarify...

Provided the domain is registered with Drop.com.au, you can do a COR on an expired domain, as long as it's in the 30 day grace period.

Thanks for being so insistent Ned!


Andrew

 

[neddy]

Thanks for being so insistent Ned!

When there is a loophole to be had, you can trust me to find it.