Moniker looks forward to the next chapter in domain name auctions.
Moniker put the live domain name auction on the map. So it was a surprise to many in the industry when T.R.A.F.F.I.C., host of many of Moniker’s live domain auctions over the past few years, announced that Rick Latona Auctions would be its only auction provider in 2010. That leaves one more Moniker/TRAFFIC auction this fall under the company’s existing contract.
An end of an era? Not really. Moniker has established a brand for its live auctions. Even though sales aren’t what they were two years ago, the company is finally hitting some of its long term goals, including selling to end users.
I caught up with Monte Cahn (founder of Moniker) and Peter Celeste (Senior Vice President and General Manager, Domain Services at Oversee.net) to discuss the future of Moniker’s live auctions and the live auction scene in general.
Change of Venue
With TRAFFIC off the table, Moniker will look to other venues in 2010. Its next large auction (after October’s TRAFFIC) will be at the company’s own conference, DOMAINfest Global in January. The company also plans another large auction later in 2010. Oversee.net is considering adding a second DOMAINfest event next year, perhaps on the East coast, so this would be a logical venue for its second large auction of the year.
“If you look at the attendance at DOMAINfest Global compared to some of the other shows out there, it’s clear that it is the industry’s premier show,” said Celeste. Celeste said it attracts a diverse audience, which is key to holding a successful auction.
Moniker will also offer online themed auctions, with the first scheduled for July 16. These auctions will run on the SnapNames platform.
Selling to End Users
Moniker has tried to sell directly to end users through its auctions. It has been a tough slough. It turns out end users are eager to participate in domain auctions, just not in person, said Cahn.
“Many of them don’t want to show their face and raise their paddle,” said Cahn. “We had more end user buyers at the last auction participating online than we’ve ever had before. That was a credit to our efforts in reaching out to the corporate world and getting our list out a little bit earlier this time. We feel that trend is going to continue.”
Cahn says 20-30 of the domains at the last show were sold to end users. For example, a bottled water company bought BottledWater.com.
Industry Landscape
Right now there are several live domain auction providers. Celeste sees some shakeout ahead. “You need a large audience and a diverse set of customers” for a successful auction, said Celeste. “Very few shows can provide that. I think it’s going to take a year or so for the rest of the industry to understand that.”
Moniker is adjusting to a new market reality. Gone are the days of frothy investor-to-investor sales propped up by domain parking earnings. The future of domain auctions will be dependent on end users and reaching out beyond the domain industry’s comfort zone. It will be exciting to watch.
FLK says
Good info.
David J Castello says
Monte is a class act and his influence on our industry cannot be understated.
Domain Investor says
David, I totally agree with you.
Plus, at this point, Monte is DomainSponsor/Snapnames/Moniker.
It is the only face of the company.
Who else do we really know with the 3 divisions anymore?
Monte can’t be everywhere and do everything. I believe they are destined for a train wreck.