Multiple live auction companies to host auctions at event.
I’m sure there’s a backstory on this, but Rick Schwartz, who co-produces the TRAFFIC domain name conferences, just sent out an e-mail announcing that Moniker will no longer be the exclusive provider of domain auctions at his conferences.
For the first time at any domain show we are going to have multiple live auctions presented by multiple auction houses. This is going to be a game changer! Howard and I have nothing to sell. Our job is to promote the industry as best we can and also be as inclusive as we can. In tough times like this there will actually be an increase in domain acquisitions. Domains that would have never been sold will now be on the auction block. Plus, with multiple companies promoting the live TRAFFIC auctions in New York City, the bidding action and excitement will be better than ever. More info will be released soon.
This certainly came as a shock to me. As Elliot Silver points out on his blog, this could force Moniker to ease up on its onerous restrictions for domain sellers.
As I’ve written before, Moniker has a lengthly exclusivity period of 2-4 months after the auction. Worse, this exclusivity period automatically renews unless you cancel it in writing 15 days before the expiration.
More likely, Moniker will have to compete on commissions and ease of submitting domains for consideration. I personally think a 15% cut is more than fair, but if a competitor shows up at the same conference offering 10% commissions, Moniker may be forced to act. For the latter — ease of submitting domains — Moniker recently streamlined the process to make it much more automated and user friendly.
I’m sure you’ll hear more about this soon…
Seyi says
mmh.. It would be interesting to see Afternic, Sedo, Moniker, NameJet, even fresh-face Bido conducting sales under the same roof. No doubt domainers would have move options and more to gain from this one.
Andrew says
Well obviously someone approached Rick about getting in on the game. Wild guess…Bido?
Seyi says
@ Andrew:
Possibly…., if that happens, then Bido would have to re-draft their “1 domain per day” policy…. expect more clauses. As Sahar once said that we are still learning…. which could change lot of things in the future. In any case, it would all be for domain industry good or soundly, a “game-changer” as Rick said.
steven says
I doubt Traffic would allow other companies to come in at a lower sales commission than what they charge Moniker. This is a for profit business!
I think you will see different types of auctions presented by another company.
I do not think the company auctioning off the names makes a differance. If they have similiar technology, same bidders, but a different auctioneer i think names will sell for less than a 3% variation between companies.
IMO, the simple calculation for a successful auction is:
1. Qualified Buyers
2. Domains Priced ATTRACTIVE to sell
3. Quick and effecient technology to complete sales
M. Menius says
Completely positive. Some new players are more than welcome!
FX says
this looks like a way for Rick to finally push Monte and Oversee out of his shows.
Andrew says
@ Steven – valid point. Of course Rick could just say “regardless of how much you charge, you have to pay me 5%”. Then if someone wants to be competitive they will charge less than 15% to steal business from Moniker.
I agree that there shouldn’t be much of a difference in sales prices between auction houses. But it will allow some other companies to get “TRAFFIC prices” for their domains, which they may not have been able to do before.