Morning Folks!!
Submissions will be limited to quality domains only.
Have a GREAT Day!
Rick Schwartz
TRAFFIC’s New Quality Based Premium Domain Auctions Announced
In 2004/2005 T.R.A.F.F.I.C. held the first “Live” domain auctions and in 2007 we had the largest Live Domain Auction ever and that record still stands! Some of those auctions were momentous, far more were just boring. As much as I tried to influence the direction, we were not happy at the way that things were going. So we opened up the auction process to everyone. We quickly found out that that was overkill. But now we have found a formula for a happy medium and a formula that will INSURE all future T.R.A.F.F.I.C. auctions will be exciting and important.
For the FIRST TIME in 2011, Howard and I will be controlling the auction from start to finish. In doing so, we will provide the venue and the auctioneer All auction houses may submit domains for the live auction. But WE will select the domains that make it into the auction.
Submissions must all have domainer reserves and not end user reserves.
If a domain has an end user reserve then the auction house must bring 3 end users to the auction.
Auctions will be much faster moving and will start with a reasonable opening bid. No fake bids of any type whatsoever will be allowed. The live auction will be reserved for premium domain names only.
We invite all of the auction companies to speak with us at T.R.A.F.F.I.C. to ensure that you become part of our team. Give the domains the visibility they deserve and let the marketplace show their real value. If a domain does not sell, the bids will help to establish “Current Market Value.” We will do this by changing how reserves are listed and it will eliminate “Show boat bidding”.
If you are not familiar with the meaning of “Show boating” it is when, for example, you have a $5M reserve on a domain name and you bid $4M to show everyone that you can make a $4M bid, while all the time knowing that you are protected because the owner won’t take anything less than $5M. AKA, Faker!
So, this is just some of the things that T.R.A.F.F.I.C. will be doing differently in 2011. We will be opening the auctions in the right manner and cleaning up the nonsense that we never before had any control over.
Jim
How do we submit a domain?
Rob Sequin
Sounds interesting.
First, I assume you mean this policy will start after the Latona auction in Miami.
Second, I think you might find it challenging since auction houses would have to have the domain under contract before submitting to you for final review?
So, the auction house would get a domain under contract but then you would have veto power over the contract?
Rob Sequin
Sounds interesting.
First, I assume you mean this policy will start after the Latona auction in Miami.
Second, I think you might find it challenging since auction houses would have to have the domain under contract before submitting to you for final review?
So, the auction house would get a domain under contract but then you would have veto power over the contract?
Jim Holleran
Rick,
I already got my names accepted by Latona and under signed contract with him. Therefore, I assume it’s a go based on that. Are you saying, you can reject some of the names after approval and under contract by Latona??? Please clarify this more because I had inquires and I am going to direct those to the live auction.
Response by Rick: This is for 2011
Anunt
Traffic vs. Domainfest — world war III…LOL
Rick, you must have read or heard about my comment on thedomains.com in the domainfest auction article where i was stating that there was alot of fake bidding (show boating) going on at domainfest auction.
Rick, in your show-boating example, are you talking about the domainfest auction for restaurants.com …nice blow Rick…LOL
Anyways, I’m glad you are putting an end to this show boating bullshit!
Good Luck with your Traffic Show!
Stephen Douglas
Is Latona invited? His name seems to be glaringly absent in your post. Is he still producing your auctions for TRAFFIC?
LR
Ar you only taking one word com’s?
Rick Schwartz
Not at all. Great domains come in many lengths and words.