TRAFFIC Auction

[nitronet]

Monte, after reading your long post I was impressed how knowledgeable you were about the domain business, but then...I remembered you partnered with Kanoodle.

 

[Creature]

Monte, how does a name qualify for the 'live auction' ? My names are mostly brandable single word .coms but they don't get too much traffic.

 

[Monte]

Nitronet - it is obvious you are unaware of who Kanoodle/seevast really is or where their expertise is...that's OK, hardly anyone does. The investment group that put us together, certainly does know the domain market and has been involved in some of the most successful companies in the domain space. I guess you can wait and see what happens with us and the overall company.

It's just a small step in a big future my freind.

Creature - just email me and I will provide you next steps.

 

[Fearless]

Monte hijacked my thread. :twitch:

 

[GeorgeK]

Fearless: Why not post the names you were planning to sell, before the deadline for submitting names to TRAFFIC's auction, to see if you can sell them on your own here?

 

[nitronet]

Fearless: Why not post the names you were planning to sell, before the deadline for submitting names to TRAFFIC's auction, to see if you can sell them on your own here?

Because he is not Fearless, he is afraid.

 

[Creature]

The ultimate way to sell has to be in a live auction at Traffic.

 

[Monte]

I have to when information is not accurate.

If you submit names for live auction then you cannot sell them after they are submitted. The longer it takes to submit them, the lesser the chance they will make it to the final list.

Live auctions produce higher prices due to the nature of the live event. Open competition, emotions, excitement, the great opportunity to get great domains that have never been offered before, etc.

 

[StockDoctor]

When might we be able to see a list of what's up for auction? Be nice to see a few high end US names make the 200 cut too. If Desk.us and Desks.us sold for $3k each last year, imagine if you had some of the top US represented.

 

[denny007]

How about to allow PROXY bids in advance ? With irrevocable 10% deposit prepaid....

 

[Monte]

The submitted names will be viewable by the TRAFFIC attendees with a special access so if you are going to be at TRAFFIC you will have access to the list next week.

There will also be more than 2M names available on our new marketplacepro system at that time as well.

 

[Monte]

By the way, I confirmed today with sotheby's, christies, and Ocean Tomo that they charge 25% + (15% to seller and 10% to buyer) for their live auctions.

that fee excludes some other fees as well and is considered standard in the live auction industry.

Thought I might let everyone know who had opinions without understanding the industry standards and facts.

See you at TRAFFIC!

 

[Fearless]

By the way, I confirmed today with sotheby's, christies, and Ocean Tomo that they charge 25% + (15% to seller and 10% to buyer) for their live auctions.

Monte you're no Sotheby's or Christies.

 

[Creature]

I think a seller would expect to pay a little more than 10% (sedo) for a live domain auction and there is a comparison. What Sotherby's and Christies are for furniture etc, Moniker are the same for domains at the moment. Who else has live domain auctions in Vegas? Radical. However as a possible seller it would be great to see those commissions reduced if at all possible. They do seem a bit high and I would like to see them closer to the 10% mark.

 

[EM @MAJ.com]

I think a seller would expect to pay a little more than 10% (sedo) for a live domain auction and there is a comparison. What Sotherby's and Christies are for furniture etc, Moniker are the same for domains at the moment. Who else has live domain auctions in Vegas? Radical. However as a possible seller it would be great to see those commissions reduced if at all possible. They do seem a bit high and I would like to see them closer to the 10% mark.

I second the 10% mark, 15% is like you're shooting the business down to drain.

Don't wait for other domaineer to create a separate auction during conference just to satisfy this needs.

my 2 cents.

em

 

[Monte]

Fearless - that's right, we are MONIKER baby. Even Ocean Tomo admires what has been pulled off with a live domain auction. They still can't get more than $15K for a domain.

Like I said, 5% does not make or break a domain sale and given that the standard fees for live auctions are 25%+, I think taking any more time defending the fee any further is wasting time. There are a lot of costs to prepare and conduct an event such as this and we will work our hardest to make sure that folks get their monies worth.

 

[Fearless]

It's not 5% making or breaking a sale. It's 15% making or breaking a sale.
I've been told Sotheby’s International Realty commonly charges 6% or less on high end stuff. You're estimating $5,000,000.00 in sales. Do you really think collecting $750,000.00 from domainers for a minimum amount of work is fair?
If you didn't take this gouging route, I could see you getting in the middle of whole portfolio auctions.
Would you still want to collect 15% on a few 30 million dollar portfolio auctions?

Also I conducted live weekly domain auctions here for free. I love domainers.

 

[Monte]

minimium amount of work generating $5M in domain sales? That's pretty funny Fearless. How often is there $5M in domain sales generated and how long does that usually add up in our industry?

Fearless - thought you were not even going to the event or selling any so why do you continue to complain about a fee that you will not be paying since I will not be selling any of your domains?

I love how making money for customers in domain sales by bringing in unheard of ROI is all the sudden "gouging" in your opinion. Kind of funny how its OK to not allow a registrar to make any margin on your domain registrations and renewals, but when we create huge return and value to the entire industry, we not allowed to make 60% of what is normal an acceptale fees by bringing buyers and sellers together and creating market value transactions that will help every domainer in the future...since more and more investors will jump into our space when they see safe and market created and tested transactions.

You just keep holding your names buddy. Don't worry, my guess is that my "minimum" work will only increase the value of your portfolio the more names Moniker sells at 7X+ what every other company sells them for.

 

[David G]

It's not 5% making or breaking a sale. It's 15% making or breaking a sale. I've been told Sotheby’s International Realty commonly charges 6% or less on high end stuff. You're estimating $5,000,000.00 in sales. Do you really think collecting $750,000.00 from domainers for a minimum amount of work is fair? If you didn't take this gouging route, I could see you getting in the middle of whole portfolio auctions. Would you still want to collect 15% on a few 30 million dollar portfolio auctions? Also I conducted live weekly domain auctions here for free. I love domainers.

Your position on this is not at all realistic Fearless. There is absolutely no comparison to selling homes vs domains. There is a vibrant established market for properties and they are 'real' assets vs a domain which is the opposite. It's ridiculous to say because Realtors charge 6% or less commission that Monte should do the same. Monte is a pioneer and to be commended for doing all of this rather than thinking of gouging and negatives.

 

[RatherGood]

Monte,

Will we be seeing any .MOBI premium names auctioned off at traffic or elsewhere?