New Moniker Auction Registration Rule

[ck89102]

Received a Domain Sponsor email today regarding Moniker & Snapname auctions ("Auction Alert"). As previously discussed here, here is the new registrar rule for their auctions going forward -
Quote:
Important: In order to facilitate faster pay-outs to sellers and transfers to buyers, we are now requiring all domains selected for the Live and Extended Auction be transferred to your Moniker or SnapNames registrar account prior to the auction. All sold names not transferred prior to the auction will be charged a $100 handling fee, please transfer early to avoid this fee!

 

[DNP]

Is there anything related to that posted on either Moniker or Snapnames sites?

 

[ck89102]

I don't see it posted anywhere but I just sent you the Domain Sponsor email via PM. The rule is definitely coming.

 

[DNWizardX9]

So it just means you can't screw moniker and refuse to transfer them the name later on..

 

[Cartoonz]

that has always been the "rule" on SnapNames live/extended auctions.
You can certainly opt to not transfer until afterwards, after all - it might not sell and then where are ya?

 

[Theo]

To implement new rules in an existing contract (the type of which is active for 120 days) an addendum needs to be signed by both parties. No more Moniker auctions for me until they change this attitude.

 

[HWW]

Is there anything related to that posted on either Moniker or Snapnames sites?

Not sure about Moniker but there is this on snapnames
https://www.snapnames.com/domainsales/agreement.action

 

[chois]

Huh? I don't remember anything in contract about Moniker charging $100 fee.

But you know what?

I prefer to pay $100 fee per a domain after after sales(if they sells!!!) rather than transfering my domains to Moniker before the auction.

 

[ck89102]

The new rule is not for Domainers Meeting in Paris. I got word it will start with Moniker's Adult Auction at the next Internext Expo (Adult Domains; Miami August 8-10).

 

[chois]

The new rule is not for Domainers Meeting in Paris. I got word it will start with Moniker's Adult Auction at the next Internext Expo (Adult Domains; Miami August 8-10).

Thanks for clarifying Craig.

 

[sevent]

I don't think it will make any difference. I bought a name in the last auction. It was transferred by the seller to Moniker's account about a week ago and they still haven't pushed it into my own Moniker account. Bottom line is they are just slow no matter what and you often have to call or email to get things done. If I bid at this upcoming auction I'll hold back at least a few hundred for the inconvenience.

 

[dominator]

I do not understand why they do not notify owners of the domains, when they are accepted for the auction. There would be still enough time to transfer. And also it would be more conformable to know the selected domains without searching.

 

[DNP]

To implement new rules in an existing contract (the type of which is active for 120 days) an addendum needs to be signed by both parties. No more Moniker auctions for me until they change this attitude.

Talking about addendum signature(s). My contract with Moniker has been signed but there are no names / addendum in it. Names have been attached in separate .xls file and sent via email and never been printed and signed. Thoughts?

 

[walker]

Moniker is trying to find new ways of making money,I guess they are thinking , maybe owner renew his/her domain at moniker , also they take more share than sedo if the domain will be sold but a lot of domains are submitted to the auction only a few of them are sold.

 

[dominator]

Moniker is trying to find new ways of making money,I guess they are thinking , maybe owner renew his/her domain at moniker , also they take more share than sedo if the domain will be sold but a lot of domains are submitted to the auction only a few of them are sold.

for example domainer meeting:

Over 50,000 domains have been submitted for consideration in this auction. The SnapNames team is currently evaluating all of these submissions in order to select the best 2,000 domains.

 

[BELLC1]

Think about this ---

The "terms" clearly state that once accepted for auction, the domain names must be moved to Moniker. It doesn't matter if it sells or not, Moniker gets 2500 names added to their registry each auction and the revenue associated with that transfer. If it does sell and you haven't transferred the domain, there is a $100 penalty. Moniker may or may not be enforcing this provision yet, but you are obligated once you click to accept the terms.

My Moniker rep responded to my questions with, "It will just make it easier if a name sells to have the name here at Moniker. (All your names should be here anyway) ;-) No, Moniker will not pay to move/transfer them back ... If you don’t transfer your names and they are selected and it sells at auction, there’s $100 fee for names that sell that haven’t been transferred prior to the auction. (This is not something that’s in stone yet) ... The commission % is still 15%."

So then I asked the questions:

1) Has there been any changes to the auction process, like, Buyers MUST settle up by the end of the auction day? (As many of us learned the hard way, Moniker has always given Buyers 4-6 weeks to make payment in the past).

2) Does Moniker now have the staff to transfer and pay the seller within 7 days or is it still 4-6 weeks? (Has anyone on this forum ever been paid in less than 6 weeks except for the $100k name sales?)

Moniker's response:

"The new auction submission process just went into place.

There haven’t been any changes to the auction process, like, Buyers MUST settle up by the end of the auction day? I wish! ;-) but having the names here at Moniker will hurry the process up. "

Guess that says it all.

 

[Gramma]

i wonder what the percentage of late payment was attributed to the seller vs to the buyer.
my big sale on the last internext was finalized in less than 2 weeks - buyer paid up nearly immediately. I had smaller ones that drug on a while - through no fault of mine.
I really wish Moniker would put in some regulations to favor the sellers (without which they wouldn't have a venue) like requiring the buyers to PAY UP - making them prequalify with a credit card or something so they could be charged should they not pay in a timely manner. They're making a contract when they bid - we're held with our feet to the fire on OUR contract side of it - the buyers need to be held to some strict rules as well.
I don't mind transferring the domains in auction to Moniker. Can always jerk them out later.

 

[Brady]

Has anyone on this forum ever been paid in less than 6 weeks except for the $100k name sales?

Yeah, around 3-4 weeks for $x,xxx names.

 

[chois]

Talking about addendum signature(s). My contract with Moniker has been signed but there are no names / addendum in it. Names have been attached in separate .xls file and sent via email and never been printed and signed. Thoughts?

Same here...

 

[simon]

For your domains to qualify, they must:

* Be at Moniker.com so sales can quickly be filled and you can quickly be paid,
* Domains must have at least six (6) months registration remaining so the buyer receives value for the buyer.
* The domains must be a com, .net, .org, .info, .biz, or .us. And yes, .mobi will be allowed shortly.
* The commission is 20% of the sale amount.

isnt 20% asking too much? even realtors who work so hard to sell a house will only get 7% comission