Think twice before selling at Live Auction Events

[LarryWentz]

I found a good article that everyone should read before being talked into selling their domains at lower prices that they want at these live auction events. I almost made a major mistake for one of my premium domains and unfortunately did make a mistake selling another at a portion of what I feel was fair domain value. My other domain I still own that was featured is now out their in Internet La-La land shown for sale at a lower price that I have no desire to sell it for - I don't like that as well. These live auctions "will not" guarantee you top buck for your names.

http://www.successclick.com/live-domain-auctions-boom-or-bust-for-domainers_2008_07_03/ (successclick is a member here)

Good & accurate quote from article - "Finally, from many domain sellers’ past experience, they get convinced by the LDA reps to list their domain’s reserve lower than the seller wants so the LDA can at least “get some bids” on the domain at a “bargain value”. Why? Because the LDA will get their commission when the domain sells, regardless if the domain is sold far below its true value. "

 

[Theo]

It goes without saying that a reserve must be set by the seller and to not succumb to pressure exerted by the auctioneers to either set a low reserve or no reserve.

 

[SuccessClick]

It goes without saying that a reserve must be set by the seller and to not succumb to pressure exerted by the auctioneers to either set a low reserve or no reserve.

You said it, Acro, and so did I. It had to be said, because too many people have complained about it.



Thanks for the kind comments, Larry. I wouldn't sell your Weightlossprogram.com domain for less than $500k minimum.

 

[carlton]

Excellent and informative article.

I personally saw a client of mine be encouraged to lower his domain reserve in order to “make it into the LDA”, and then watched his face sadly when only one bidder triumphantly bought up his best domain for the lowest price.

Sellers need to prepare for all contingencies. As we've seen, many of the recent auctions had very thin turnout. When you consider that 80% of the live auction domains are getting "passed", think how risky it is to have your name pushed to the silent auction. You must insulate your investment from being scooped away on the cheap.

On Bido, I agree with the author. That format is still in the early phase so they can work out the bugs. Bido are truly unique and can gain steam incrementally as the quality of the name selection goes up. I believe they intend to get things right and I admire that. Growing a business is sometimes done best in a slow controlled manner so that good analysis can drive the next level of improvements.

 

[silverdom]

Bido are truly unique and can gain steam incrementally as the quality of the name selection goes up.

Excuse me , what makes Bido so unique ?

May be Sedo alike name ? or they offer something special ?