Monte, Howard and Rick

[Honan]

Monte, Howard and Rick wanted a $500 non refundable deposit from ppl who were not going ,but want to bid at the vegas traffic conference auctions

It is very long plane ride for me, so I thought I would not go, however I would like to bid

$500 deducted from the cost of any names won sounded reasonable

But hold on

I wanted 3 names where the reserve was $5k to 10k

So I was going to bid $8k on each
Then I realized that if the reserve was $8001 , and the names were passed in Monte, Howard and Rick would get to keep my $500.
The seller would get nothing
I would get nothing

Strange way to conduct business
I suppose they know what they are doing
Some competition from another live auctioneer would not go astray though

Just needed to vent about not wanting to risk paying $500 and getting nothing

 

[Focus]

Are you suggesting they would rip you off?

 

[Honan]

Are you suggesting they would rip you off?

Of course not.

I am saying that if my bids are under the partially disclosed reserve they get my $500 and I get nothing

 

[dolansco]

there are many reasons for this...

Reduces the risk of non paying bidders
Encourages bidders to place a higher proxy bid
Makes money for the boys ( least important reason IMO )
amongst others..

 

[Creature]

.

 

[yulili]

I suppose they know what they are doing
Some competition from another live auctioneer would not go astray though

You nailed it. The competition is the key. For those entrepreneurs, you heard it here. There is a demand for the alternatives in the market place. If you open the shop, people will come. I know I will.

 

[Theo]

Very simple solution: offer competitive services. If TRAFFIC east, west or whatever is the only public venue for domain auctions, they hold both the cake and the knife.

 

[Honan]

You nailed it. The competition is the key. For those entrepreneurs, you heard it here. There is a demand for the alternatives in the market place. If you open the shop, people will come. I know I will.

PS. I noticed that you sold Grandma. It must be a sad story. If there is any consolation, I still have the Grandma picture. That is GrandmaPicture.com. If the picture can bring back some fond memory of the Grandma, please let me know.

Yes, the market will sort it out for those that suffer from the tyranny of distance and someone will offer live genuine professional auctions without the ridiculous Catch 22

Sometimes that sale of the grandma is regretted
Perhaps owning the DN picture would assuage some guilt
Grandpa is getting very nervous

 

[NAK]

they want serious bidders in the auction room, people that will bid and not just sit there for entertainment, by charging $500, they doing the same thing as Rick preaches, by charging high prices to come to his traffic shows, if they dont charge, they are bipassing Ricks way of thinking....no difference.

 

[Deleted member 70408]

Of course not.

I am saying that if my bids are under the partially disclosed reserve they get my $500 and I get nothing

I would imagine they will tell you what the reserve is either before or while you are bidding in the silent auction. Hypothetically, if a reserve is $9,000 and you bid $8,000 and don't win, they only receive $500. However, if you know the reserve is $9,000 and you win, they will get $1,800 in commission. They would rather have you win a silent auction and get the 20% commission instead of the $500 bid fee.

 

[Theo]

Nice thread hijack.

 

[TheLegendaryJP]

there are many reasons for this...
Makes money for the boys ( least important reason IMO )
amongst others..

:lol:

And that is why you will never be called a greedy man. :smilewinkgrin:

 

[Raider]

Nice thread hijack.

I'm afraid to ask what this means?...but then again I like popcorn threads. :lol:

 

[Theo]

It means he's posting his domain for sale.

 

[yulili]

It means he's posting his domain for sale.

I only try to poke some fun at this serious subject. Inadvertently, answered a question which I should have not. Sorry about that.

 

[shopperx]

I agree with charging a $500 fee, it will guarantee that the participants are really interested in bidding and ready to spend good money.

Traffic is not about auctions only, you can learn some tips from experts and share ideas with fellows domainers. I would love to meet you guys in person.

 

[Creature]

.

 

[olebean]

I'm unaware of any legitimate auction that charges such fees without a refundable element...

IMO its an unscrupulous practice

 

[foundrstack]

If you can afford to spend $10,000 in domains, you can afford a $500 deposit. That's probably their reasoning. People tend to put more value on things they have to buy. Those aren't low priced domains they are selling. So basically it keeps the watchers out while keeping the buyers in.

 

[olebean]

Tia

Unless my understanding is incorrect... why cant they refund the $500 if you fail to win the domain?