2007 Internext Domain Auction

[BELLC1]

And we went down to 47 names on auction.


...as of 4:26 CST, 24 names...

 

[Terminator]

OK, my domain went to live, didn't sell, went to silent and didn't sell. I know Monikers agreement was 60 days, I submitted on 12/18/06, so that puts me at 02/18/07 before I'm no longer committed. My question is, what happens from now until then? does it just sit in the marketplace? and if it sells, is their commission rate still 15%?

 

[BELLC1]

OK, my domain went to live, didn't sell, went to silent and didn't sell. I know Monikers agreement was 60 days, I submitted on 12/18/06, so that puts me at 02/18/07 before I'm no longer committed. My question is, what happens from now until then? does it just sit in the marketplace? and if it sells, is their commission rate still 15%?

I was wondering the same thing myself. I had 4 sell in Live and 5 in Silent, but I still have 67 of the 76 accepted that didn't sell in Live or Silent. I think they will sit in Moniker's marketplace. They wanted the 60 days to cover post-auction purchases that their auction may have found the buyer.

I think they also got 15% ftom the Seller and 15% from the Buyer -- not bad.

Lots of room for improvement next time, we all know that. I think I will skip the TRAFFIC show this time until they get this Silent stuff fixed.

 

[GoPC]

In a word... YEP.

Enjoy

GoPC

 

[Terminator]

I think they also got 15% ftom the Seller and 15% from the Buyer -- not bad.

Total commission is 15%, the buyer pays nothing additional.

 

[BELLC1]

Total commission is 15%, the buyer pays nothing additional.

You are probably right. I'm trying to find where I saw "Buyer should add 15% to the purchase price for auction fees" or something to that effect. I deal with so many auction houses, it may not even have been Moniker. Thanks for pointing that out.

 

[Terminator]

Bellc1,

Not a problem Bellc1, I was at the auction where Monte repeated to all of us that the buyers pay nothing additional, so I know this to be true.

 

[StrictlyNames]

in the regular marketplace... when the buyer is bidding or placing an offer, it states:

Note: A 15% service fee will be added to all transactions at checkout.

This is probably what you saw Bellc1

 

[MinionDH]

OK, my domain went to live, didn't sell, went to silent and didn't sell. I know Monikers agreement was 60 days, I submitted on 12/18/06, so that puts me at 02/18/07 before I'm no longer committed. My question is, what happens from now until then? does it just sit in the marketplace? and if it sells, is their commission rate still 15%?

Correct me if I'm wrong but according to the agreement we signed, the 60-day Exclusive Sales Period automatically renews if it is not cancelled by the seller.

Here is a direct quote from the agreement form:

"Seller grants Buyer/Seller Agent the exclusive right and authority to sell the Names for a period of sixty (60) calendar days from the date of this Agreement, or such later day as Buyer/Seller Agent’s exclusive right and authority may be extended by the Parties in writing (the “Exclusive Sale Period”). This Exclusivity Period will automatically renew if not cancelled by either party within each active period whether initial or extended period."

 

[GoPC]

yikes! better get those cancellations in!!!

GoPC!

 

[Creature]

This Exclusivity Period will automatically renew if not cancelled by either party within each active period whether initial or extended period."

Good to know, thanks.

 

[BELLC1]

I just sent in my cancellation and was informed I was correct in doing so.

Did anyone who sold a name at SilentAuction get ANY notice from Moniker yet?

 

[Raider]

I'm horrible at this by not reading what I'm signing.....Thanks for the post MinionDH, my cancellations are on the way.

 

[BELLC1]

Just got my notice from last night's auction. Let's see how long it takes for the complete turnaround and final payment.

I decided to hold off on Traffic West this time. If payment for the LIVE auction had been completed before the deadline for submitting names today, I might have considered it.

 

[GoPC]

Got mine too... was yours a BULK mail to everyone (and no one) with instructions to unlock the domain and a statement that the sales agreement is forthcoming?

GoPC

 

[Terminator]

Just got my notice from last night's auction. Let's see how long it takes for the complete turnaround and final payment.

I decided to hold off on Traffic West this time. If payment for the LIVE auction had been completed before the deadline for submitting names today, I might have considered it.

Are you saying its taking too long to get paid or just the timing of the two?

 

[PRED]

is it to late late to submit for traffic?
if not, where do we submit? i've pmed the rep on here for Moniker, or should i pm the cahnmeister?
cheers
Pred

 

[BELLC1]

Yup, it was a bulk email. I had to pick my five and send it all in.

LinkGuy, it's a combination of both. I've never dealt with Moniker before other than approving transfers of previous domains. This is my first "auction" with them. From the Live auction, I thought with 2 million in sales on the table, they would have done their best to settle the sales the next day using everyone on their staff if necessary. I have no idea yet whether the buyers have even paid, or if they paid while at the auction, or ... communication is lacking unless I do all the asking. I'm not new with domains and I've never had less communication with the many buyers, sellers and agents I've dealt with before this.

Now the Silent is over. It was over 24 hours before I received notice of the outcome. Had I not had my domains in my watchlist, I couldn't pull up the auction results as their was no posting of the sales on the Silent auction website.

So, yes, I'm a little bit disappointed. Two of the people at Moniker have been responsive, but only after I posed the questions. And since I haven't heard anything more about the Live auction payments, and Traffic West's deadline was yesterday, it doesn't make a whole lot of sense to me to jump on board for something new until the old business is cleared up.

It is NOT my intention to badmouth Moniker. Maybe they were stretched thin throughout the entire process. Maybe the website they used was the best template they could find. Maybe... well, improvement will have to come from the top.

 

[Monte]

Folks - completing sales involves transfers of domains to escrow and funds transfer. EPP transfers can take up to 10 days. They are all in process and there is no reason for us to delay the process....or for you to delay your submissions for the next auction which is due TODAY.

Live and Silent auctions - Seller pays commission. Marketplace Buyer would pay their commission as well if the name is there.

The system, process, etc continue to improve through each auction. This is still new to everyone participating and a little different then selling physical merchandise. Please be patient and a little understanding as things went pretty smooth for an event such as this. Results were good and feedback from the InterNext community was overwhelmingly positive. They cannot wait for the next one in August.

TRAFFIC auctions are scheduled for March, June, and October.

 

[BELLC1]

Just curious since it will be two weeks tomorrow since the Live auction:

Has anyone who sold or bought a domain completed the transaction yet?
Have you heard anything since you filled out the paperwork?