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Today's AfterMarket Auction

Chris.C

Top Contributor
Looks like the vast majority of domains that have received bids this week have already reached reserve which is always good to see.

http://www.netfleet.com.au/index.php?a=auctions

Do you think that having a domain that has already reached reserve makes it more or less likely to get more bids going into the final minutes of the auction?
 

Chris.C

Top Contributor
That's a good attempt to give your listings a "bump". ;)
Was definitely part of the motivation, but the other part was really trying to get a gauge on how the NF AMA ends.

I often don't watch the end of the AMA's if I'm not actively pursuing any of the domains listed, so I'm a bit nervous about how the bidding goes towards the end, ie is it like the expiry auctions where it's jut a mad flurry of bids because they know all domains up for auction are going to sell and this is their one chance to get it, or is it more like people are over bidding because they have been bidding for a week and it just cruises to the end?

That said, I was honestly surprised by how many domains had met reserve, often I go the NF AMA look at the domains that don't meet reserve and am like it's pretty time consuming and expensive to have your domain pass in (NF listing and reserve price costs in addition to time and advertising expenses).

So I often think that people are better off lowering their reserve a bit just to increase the chance of a sale not to mention that you don't want to scare of prospective buyers.

I know I think it's always annoying to spend time working out what you think a domain is worth only to find that the domain owner is in lala land about what it's worth on the NF AMA, this is probably the biggest reason why I have bought very few domains via the NF AMA compared to the expiry auctions.


Part of me actually wishes that there was an "orange flag" or something that indicated the domain was "near reserve" or maybe even better, that the owner had the right to remove the reserve and push it to market at any point during the auction. So if they saw with 5 minutes to go that they weren't likely to get reserve but they might be 70% of the way there they might say, it's better to do the deal today at 70% of what we thought it was worth than hope we can get 100% in the future and having to reinvest all the time energy and money into selling the domain again and maybe still not get 100%.

Thoughts?
 

Mark

Top Contributor
I know I think it's always annoying to spend time working out what you think a domain is worth only to find that the domain owner is in lala land about what it's worth on the NF AMA, this is probably the biggest reason why I have bought very few domains via the NF AMA compared to the expiry auctions.

Part of me actually wishes that there was an "orange flag" or something that indicated the domain was "near reserve" or maybe even better, that the owner had the right to remove the reserve and push it to market at any point during the auction. So if they saw with 5 minutes to go that they weren't likely to get reserve but they might be 70% of the way there they might say, it's better to do the deal today at 70% of what we thought it was worth than hope we can get 100% in the future and having to reinvest all the time energy and money into selling the domain again and maybe still not get 100%.

Thoughts?

Thanks Chris, great suggestions. In the next release of our auction software, we will be encouraging Buy It Now (BIN) prices which of course gives you an indication of reserve if set, the ability to make reserve prices public or not, and as you say, a flag that indicates how close you are to a reserve.

When we release our next version, we will juggle the options to find the most effective auction solution, and the challenge as ever is to make it work for both buyers and sellers.

Anthony's post has further details on v2 - http://www.dntrade.com.au/sneak-peek-into-whats-next-t3399.html

Cheers, Mark
 

DamianLondon

Top Contributor
Like the idea of being able to shift the reserve (up or down). Sort of like the auctioneer of a real estate agent coming back after being told by the owners they are willing to put their house on the market.

Tends to push bidding a little more.
 

Data Glasses

Top Contributor
Like the idea of being able to shift the reserve (up or down). Sort of like the auctioneer of a real estate agent coming back after being told by the owners they are willing to put their house on the market.

Tends to push bidding a little more.

If i bid on a name and then the reserve goes higher ...........goodbye :mad:
 

DamianLondon

Top Contributor
In hindsight, I agree Neddy/Spacey/Chris. Pushing the bid up is not going to work.

Pushing the bid down I think is probably the only option here, it says "the property/domain is now on the market".
 

DamianLondon

Top Contributor
The flag is a good idea, gives the buyers an indication that they are close.

Also, some ideas if the auction finishes and the name doesn't sell:

- negotiating after the auction with the owner for the bidders

- Once the auction is over, it would be handy to link the auction listings back to the standard listings for a few days for names that don't reach the limit.

E.g. Barossavalley.com.au (name I own) got to 3.5K in the Last Auction, I have it for sale for $4,250 as a standard listing.
 

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