NameWinner Goes to Post Auction Format

[Frontline]

Just got this in the mail:
Starting soon, we will be giving you even more time and opportunities
to bid on great domain names by extending active auctions with more than
one bid by 72 hours.

Here’s how it works:

Day of Domain Drop

· 10 a.m.: Opening bid amount of $40 ($30 for grandfathered NW
customers). NameWinner will attempt to grab domains with at least one bid by 10
a.m. Names with no bids by 10 a.m. will not be grabbed and will be
deleted from the auction.

· 10 a.m. to 1 p.m.: Domains are deleted from the registry. NameWinner
will go after any domains with bids on them. By 1 p.m., any
successfully grabbed domains with one bid only will be awarded to the bidder. Any
successfully grabbed domains with more than one bid will go into an
extended 72-hour auction and bidding on those names will re-commence.

Extended Auction Period for Domains with multiple bids

· Extended 72-hour auction occurs for domains successfully grabbed with
more than one bid. Any new bidders who have not previously made a bid
before 10 a.m. on the day of the drop can buy into the auction for a fee
of $50. If the bidder wins the name the $50 fee will be applied to the
final bid amount.

Day 3: End of Extended Auction Period

· Names will be awarded to the top bidder unless there is a bid placed
within the last 5 minutes of the auction (9:55 – 10 a.m.). If a bid is
placed within the last 5 minutes of the 72-hour extended bidding period
the auction will be extended 5 minutes. The auction will be extended in
5 minute increments until there is no further bidding for a full 5
minute period.

These changes will take effect tomorrow, June 22nd. For all the
details, please visit www.namewinner.com.

 

[strongvis]

:evil:

 

[dvdrip]

They don't actually catch a lot and they will catch even less if this approach...
This is really stupid...

 

[Anthony Ng]

... and they will catch even less if this approach...

Interesting. Care to elaborate a bit? Thanks.

 

[hiOsilver]

They don't actually catch a lot and they will catch even less if this approach...
This is really stupid...

They will make much more money on what they do catch. This is just one more example of how more and more of the profit in expiring domains is going into the pockets of the registrars and the dropcatchers. If NW makes more money, they can hire more registrars, so they will end up catching more.

 

[puravida]

Really... it's about damn time.

I've been b*tching about NW being sooo stupid as a pre-catch auction house for the longest time. I didn't mind so much 5 years ago when they used to catch most of the domains (as there was no competition), but now it's just stupid for anyone to have a model that isn't post-catch auction.

Namewinner is just another example of a poorly run company in the right place at the right time and still getting run over by competitors because the owners are still stupid, don't care about their customers, and lack vision!!

[/rant]

-Wesley

 

[dvdrip]

Up until now it was easier for them to know which names were the best. i.e. higher bids. This way they could focus on higher bids. They weren't so good at this...

Now they will have to work harder competing with Pool that is really good at finding good names. This takes a lot of time to learn.
And they will not know how many people are interested in a domain because:
A lot of people don't like open auctions like myself. I will stop participating in the pre-auction bids. I will not even make a single bid. If I really want a domain I will pay the $50. They don't actually catch a lot.

 

[dvdrip]

Well you are right on this one but It will not be my money they will get...

They will make much more money on what they do catch. This is just one more example of how more and more of the profit in expiring domains is going into the pockets of the registrars and the dropcatchers. If NW makes more money, they can hire more registrars, so they will end up catching more.

 

[puravida]

I will stop participating in the pre-auction bids.

Hi DvdRip,

How did you take the time for the pre-auction bids in the first place?
What a waste of time now that NW grabs less than 1 in 100.

I only bid with them on extremely valuable domains and even then, not on every one. My time is too valuable to waste bidding on something they do not own and I'm 99.9999% sure they will never own.

It's like me trying to sell you a ferrari hoping that someone will die and leave me one in their will... just not gonna happen.

-Wesley

 

[Nodnarb]

I emailed them when they raised their prices and told them I would take my chances on drops rather than pay them $30 for marginal names. Bummer! I'm sure they're trying to earn more $$$ but nailing established customers in the head like this is a bad tactic.

 

[spietreser]

Ohno!

I sure hope that the bidding at Namewinner will be more transparent than the bidding at Pool... :worried:

 

[Togoodhlth]

Yeah that $30 sucks!!!
Ok, the post drop bidding is smart on their part however Like dvdrip I will just pay the $50 to get in on the auction for really good names and not waste my time.
Hmm, will they catch less of the good names than they do now? i mkean since they don't know what people want because there are not 4 figure bids to steer them?

I guess it remains to be seen.
There will definitely be a lot less customers which is maybe what they were shooting for.

 

[WebCat]

Wonder if they will change the name to.. NamePool? PoolWinner? PoolWhiner? NameWiener? :goofy:

 

[guiwang]

A POOL's brother born.

 

[spietreser]

There will definitely be a lot less customers which is maybe what they were shooting for.

Aahhh, so THAT's why they're doing these things...

 

[Nameable]

Looks like they did alright out of the gate. I just got emails on 3 names that have entered the extended auctions.

Especially interesting is the ability to join one of the private auctions for a $50 fee after it's started.

 

[clemzonguy]

Nice....maybe someone can let us know about some good auctions to join.

 

[puravida]

Especially interesting is the ability to join one of the private auctions for a $50 fee after it's started.

wha wha whaaaat?!

 

[HLK]

This is the format that makes the most money for the service.
Why would they have it any other way?

 

[adoptabledomains]

I can see this getting a lot more lazy but rich or retail buyers into the market. It can take a lot of work to search for good domains coming up for auction and which may have value when caught. Even with pool, you have to know what to bid on before the domain is caught, by looking or searching long lists. Now with NW doing this, some could just join and sit back waiting to pay $50 to enter after the fact and after knowing there is demand for a domain. I wouldn't be surprised if Pool adopted this as well to get more bidders and take prices higher.