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The 5 minute window??

Discussion in 'Drop.com.au' started by James, Jun 4, 2011.

  1. James

    James Membership: VIP

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    Hi Drop,

    I like the service, but the thing that annoys me the most about DROP is the 5 minute window at the end of auctions which blocks new bidders. NF does not have this window and it leaves the chance for new bidders to come in late.

    Just curious to why this is in place with DROP? I think it is loosing you potential business.

    Regards,

    James.
     
  2. Drop.com.au

    Drop.com.au Membership: VIP

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    Hi James,

    The DROP.com.au auction actually ends at 12:54PM AEST.

    Where any domain receives a bid in the final 5 minutes the auction for that domain will be extended a further 5 minutes - i.e. until the final extended auction closes at 12:59PM AEST.

    The extended auction feature is designed to minimize any benefit gained from last second bidding or “snipe bidding”.

    Generally the extended bidding is a popular feature (well maybe not with snipers:)) - In fact Ned was requesting a similar feature in the Netfleet aftermarket auctions here.

    We would have multiple extensions if we could, but due to the nature of the drop there is only one extension.

    Cheers,

    Andrew
     
  3. zhenjie

    zhenjie Membership: VIP

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    Snipe bidding will happen regardless on any moderate domain name. What this 5 minute window does is sometimes stop you bidding on a domain with no bids on it. Its happened many times for me before as I'm switching between two platforms and making last minute choices.

    What could have been revenue for Drop is lost to Netfleet because I end up bidding there.
     
  4. Drop.com.au

    Drop.com.au Membership: VIP

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    Hi Zhenjie,

    We've had positive feedback in general about extended auctions. If you really want to make sure that you catch a domain it's best to bid before our closing time of 12:54PM AEST.

    Andrew
     
    Last edited: Jun 5, 2011
  5. James

    James Membership: VIP

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    100% what I am saying,

    DROP is clearly loosing business to Net Fleet, I look at auctions daily and compare results, some days DROP might have 2 domains sold compared to netfleet having 50 domains sold via snapper auctions.

    Many domains I do not even touch until the very final minutes.
     
  6. davids

    davids Membership: VIP

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    Forgive me if my logic is backwards but I can't understand how they would be losing business? If they catch the domain, they've already won business that netfleet has lost, and vice-versa.

    The only difference is that Drop is disallowing a person to bid in the final seconds/minutes unless they've been participating earlier. I think that's actually a lot better because there's a limited time-frame to bid and if someone new snipes it, what opportunity does it afford someone else who has been participating to reconsider what their highest bid may be?
     
  7. James

    James Membership: VIP

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    I am referring to the late influx of bids on names, for example the other day I was bidding for a name on NF and it shot up to around 100ish, the same name on drop had no bids at all...I instantly tried to sign in to bid but as it was past the 5 minute mark I missed out on bidding for it via DROP.

    It just seems funny to cut off auctions with no bids 5 minutes prior.
     
  8. zhenjie

    zhenjie Membership: VIP

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    James explains it quite well.

    If Drop has the domain bidding ending before NF, then NF will get more of the late influx of bidding on certain domains. The system might work if both platforms had the same policy in place, but right now people would just end up bidding on NF and they in turn they are getting the revenue.

    IMO, it doesn't just prevent sniping. It prevents a few of us who bid impulsively last minute or see a particular domain heat up on NF and we want to get in on the action.
     
  9. neddy

    neddy Membership: VIP

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    auDA Member:
    Yes
    To be fair to Drop, they have tested many systems since the beginning of the "drops". They have always shown that they are willing to listen to constructive suggestions. Having said that, what some people like, others will dislike. ;)

    I love the "extended bidding" feature on aftermarket auctions. It can create a real contest. Obviously that is not practical on "drops" (this sort of change would have to be driven by auDA).

    Personally, I don't mind their current system. The feeling when you do snaffle a domain for $1 (and it goes for plenty on Netfleet) is awesome. :)

    That doesn't happen very often though - any half decent domain generally attracts bidding on both platforms (and thus triggers the 5 minute auto extension).

    All I can reiterate is what many others have said: You need to cover your position on both platforms.

    I don't think this has much to do with when the bid is placed. At the moment, Netfleet is by far the dominant player by virtue of their technology / systems. But I'm sure a lot of us can remember when it was the other way round! You just have to look at some old threads here on DNT!

    And it may well change again - I'm sure Drop is working on it!

    I can see your point of view here Zhenjie. And I guess that's a business decision that Drop has to make. But as I said before, most half decent domains will have bids on them on both platforms - and thus finish at exactly the same time. So there isn't an issue when this happens.
     
  10. DavidL

    DavidL Membership: VIP

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    auDA Member:
    Yes
    I think it's good that the two platforms have their differences - it's good to see different approaches from service providers is it not?

    I, for one, don't know why people don't cover both platforms with the same bid... just makes sense.

    I remember when we were losing a lot, we'd see that a client's max bid on NF was for $500, say, but we'd miss it, then through WHOIS see that they won it on Drop for $1,000. So we asked how come you didn't put a proxy in of $1,000 on NF? Answer would sometimes be something like "I didn't think you were going to win it and I knew I'd have to pay more to win it on Drop so I went in harder there"

    That doesn't make sense to me.... Surely with a proxy system, you put your max bid on both and cross your fingers for the lowest actual bid platform to win it?
     
  11. neddy

    neddy Membership: VIP

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    auDA Member:
    Yes
    Well, here is a real life example of the above.

    I won a domain on Drop today for $1 as I was the only bidder.

    Of course I covered my position on Netfleet as well. I was one of five bidders, and I got outbid at $57.

    The guy that outbid me on NF didn't see it right until the end, and thus didn't have a chance to bid on Drop.

    But why did the other 3 bidders not put a bid on Drop? They weren't last minute on NF and thus had plenty
    of time to bid within Drop's closing times. :confused:
     
  12. Chris.C

    Chris.C Membership: VIP

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    I think the reason it doesn't make sense is because you are assuming people are rational...

    Unfortunately we are not.

    There has been many a great business idea that has failed for virtually no other reason that lack of human rationality.
     
  13. Drop.com.au

    Drop.com.au Membership: VIP

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    Your win, others loss Ned. The domain you are talking about had a bid on NF quite early in the piece - it would have made send for that bidder to have placed a bid on Drop.com.au too. Go figure.

    I think the other important thing to remember is the hidden bid feature - we hide all bids until more than one bidder is involved in that domain auction. Just because you can't see any bids on Drop.com.au it doesn't mean that there aren't any.

    I'll keep on saying this - if you really want a domain, it makes sense to keep all your bases covered and have a bid on all the platforms.

    Andrew
     
  14. Timmy

    Timmy Banned

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    Snooze ya lose!