Moniker’s live domain name auction starts at 3PM EDT tomorrow at TRAFFIC conference.
Monte Cahn of Moniker addressed attendees of the TRAFFIC conference this morning in New York to explain how tomorrow’s live auction will work. The auction runs from 3PM to 6PM EDT.
Moniker received a record 80,000 domain submissions for this auction. 200 were selected for the live auction and another 3800 domains for the silent auction. The silent auction has already begun and runs through June 27. The silent auction has a number of great domains including Beef.com, HGH.com, Tune.com, and Teaching.com. Silent auction domains will close on a staggered schedule. Any bid received in the final 15 minutes of an auction will extend the auction another 15 minutes. You can expect some popular auctions to be extended up to 24 hours.
In order to speed up the closing process, buyers will sign contracts before leaving the conference. Moniker is also introducting telephone and proxy bidding to this auction. This should help drive prices up and allow for bidder anonymity.
Domain Capital is on site to offer financing to buyers. According to Monte Cahn, Domain Capital provided over $1M in domain financing at the last TRAFFIC auction.