GoDaddy to Launch “Signature Auctions”
Friday, July 6th, 2007
Domain registrar GoDaddy is launching premium domain auctions through its TDNAM platform.
GoDaddy, the world’s largest registrar, is the latest company to announce a new platform for auctioning high-end domain names. The company will launch “Signature Auctions” to auction off domains worth $10,000 or more.
According to information recently posted on the GoDaddy web site:
If you have a domain you feel is worth $10,000 or more, put it up for auction and then put some cash in your pocket!
Signature Auctions are one-day online auctions where only the most exclusive, high-value names are auctioned off in a live-auction setting. Your auction ends only when the bidding stops.
Domain aftermarket Sedo , which already has an auction platform that has resulted in 6 and 7 figure sales, also recently announced a new auction format for high end domain names. The week long online auctions for premium domains will be run through its newly acquired Great Domains site.
GoDaddy hasn’t given a timeline for when its Signature Auctions will occur, only to say that they “will only take place at select times during the year.” GoDaddy’s web site says that if a domain is accepted, the company will reach out to qualified buyers in advance of the auction.
More competition in the auction space is always welcome. Here’s what GoDaddy will need to do to make this successful:
1. Make it easy. Create a dedicated site for these premium auctions that isn’t buried amongst the rest of GoDaddy’s products on its home page.
2. Effectively screen domains for value. TDNAM is notorious for having very bad domains listed at very high prices — such as 3g4free.com currently listed for over $16 million. (Anyone can list a domain for any price at TDNAM). GoDaddy must screen the signature domains to make sure they are worth over $10,000. If .ws domains or myreallybaddomain.com start showing up in the signature auctions then they will lose credibility.
3. Limit auctions to 100 domains. There aren’t that many $10,000 domains for sale at any given time. If there are hundreds or thousands of domains to sort through then people will just give up. (If auctions are held infrequently then perhaps a greater number of listings is warranted.)
4. Really reach out to qualified buyers. It’s one thing to say it. It’s another to actually pick up the phone and call qualified end users for domains.
The submission form for signature auctions isn’t available yet, but you’ll be notified here when it is.
[...] GoDaddy will soon allow participants in their TDNAM auction system to list “premium” domains with a value of over $10,000 USD in 1 day “signature auctions”. Looks like this is GoDaddy’s answer to Sedo’s purchase of GreatDomains, which is being turned into a once-a-month premium domain live auction site. [via DomainNameWire] [...]
[...] Godaddy.com has released the final list of domain names to be auctioned off in their new Signature Domain Auctions beginning November 6th. The list of 30 domains was compiled from submissions from the Godaddy website. Godaddy put up a page about the Signature Domain Auctions earlier this year and have been vetting submissions and preparing for the release since the announcement. [...]
[...] Godaddy.com has released the final list of domain names to be auctioned off in their new Signature Domain Auctions beginning November 6th. The list of 30 domains was compiled from submissions from the Godaddy website. Godaddy put up a page about the Signature Domain Auctions earlier this year and have been vetting submissions and preparing for the release since the announcement. [...]