Auction Order

adoptabledomains · Feb 2, 2003

Having all $1 auctions first definitely attracts the bidders since there is chance of getting a real bargain. I'd like to see that go a step further with the randomizing of all names within same price points, so that after all $1 names, then come all $2, $3, etc. This would be an incentive to keep starting bids low, kind of like bidding for position in the auction. If that 5 figure name is really worth it, it will keep those who can afford it hanging around until the auction end to get it or see who does.

chatcher · Feb 2, 2003

Why not just do away with starting bids above $1? Those who want to set their own prices can sell their domain names the way they always have, and those that are willing to let the bidders decide the value of their names can use the auction.

I love auctions. I have sold over 3,000 items on eBay, including over 500 domain names (back in 2000 when eBay was a decent domain name market). I can tell you that high starting bids and reserve prices reduce the final selling price almost all of the time. A low starting bid results in more bidders participating, and each bidder who has placed a bid has a psychological attachment to the item and is more likely to bid again. Anything you do that reduces the number of people bidding potentially reduces the high bid.

With 80 bidders including professionals, semi-professionals, and end users bidding here, your domain name will most likely reach or exceed its true wholesale value. If you want more than that, you need to find another venue!

(Personally I have no problem with listing higher starting bid names after the $1 names are done, but I'm unlikely to stick around to bid on them.)

CoolHost.com · Feb 2, 2003

I'm not sure what the final count (number of folks attending) was for last night's auction ... or whether this amount has pretty much stayed the same, or increased over the past three (3) auctions. If this number has been increasing ... and my guess is, it has ... doing away with 'Starting bids over $1.00 MAY make more sense, as Arbitrage has suggested. I think Greg stuck to his guns on this point ... and it has served the auctions very well, to date. Also, if more and more folks ARE attending (AND listing), these auctions could go into the wee-wee hours, otherwise.

PS. I ran some very QUICK numbers here today for the heck of it ... regarding the auctions, to date (3). The numbers are pretty formidable!!

If I'm off by much, please excuse ... and/or correct me where appropriate:
Total domain name sales: 238 for $10,000 U.S.
Esteemed (european) member "MikeMike" having purchased $2,837 worth of our domains ... you gotta love this guy!! Thanks.
Way to go Greg, Mod's, membership, and DNF "Live auctions"!!

Take care.

Duke · Feb 2, 2003

Originally posted by adoptabledomains
Having all $1 auctions first definitely attracts the bidders since there is chance of getting a real bargain. I'd like to see that go a step further with the randomizing of all names within same price points, so that after all $1 names, then come all $2, $3, etc. This would be an incentive to keep starting bids low, kind of like bidding for position in the auction. If that 5 figure name is really worth it, it will keep those who can afford it hanging around until the auction end to get it or see who does.

I agree completely and posted this thought in another thread before finding that you had already done so.

I agree with arbitrage's point as well. On Ebay I NEVER bid on an auction with a reserve - it is an automatic skip. Same with auctions with high opening bids, even if the opener is around the true value of the name.