Krossat’s Blog

[REVIEW ADDED]

DNForum is holding their first Online Auction in another 12 hours. Some nice names have been put up for sale including ABBC.com, Image-Gallery.com, NHQ.net, HostingScript.com, DNGuide.com, CrunkFest.com and a host of others. The hosts of the auction recently stated that their focus would be on getting better names and prices than playing with numbers. Looking at the list, I think they wouldn’t be dissapointed. What reserves have been put up, and whether the bidders meet them, remains to be seen.

NamePros has been holding an Online Auction for sometime now with success, and is getting better with each upcoming one. The lots at NamePros have increased in size and more and more users are including their domains for sale.

The Auction at DNForum is looking pretty good. This auctions lot has a different flavor of domains being put up, with Dictionary Words, Two word generics, LLLL.com’s, LLL.nets and a host of other niches. This will definitely give domainers another solid platform to put up domains for sale.

In fact, I believe auctions like these are a much better option than the Big Auction Houses demanding high fee and showing dismal results. Forum Auctions seem more personal, are very low on fees, and have a more generous criteria for inclusion. Good parameters for a successful auction. I’ll keep this article updated with the results

Review:

Last night’s auction was great fun. With members participating reaching 49, it was something the DNForum chat room had never seen before; so many members actively participating in an event held there.

There were 53 lots out of which 13 converted to sales. Some bids reached very close to the reserve, but did not convert. Total Recorded sales were of $482. while the lots were promising, the turnout did not have a lot of potential buyers. Some members were there to witness the first ever auction, with an intent of checking out how it goes, and probably taking part in the next one.

For a first time attempt, it was a success by all means. All credit goes to Johnn, Dadster and BILLBO for handling the event professionally.

Now for a few things which could be improved in the format:

1. Automated script for the auction is an absolute essential. It would save a lot of  the auctioneers time and efforts, and would make the whole event as smooth sailing as possible.
2. Some good advertising and Notifications of the upcoming event need to be implemented. The potential buyers need to know when the event is and what they are being offered.
3. After looking at the lots, for a small auction of only 50+, a themed auction would be better. People coming to the auction would come expecting more domains to their liking. The auction would be more targeted and the competition would be to offer better prices on the same platform / niche.
4. Bidding Increments must be firmly defined. Saves a lot of time and confusion.
5. Pre-bidding should be allowed. Saves time and gives the lot a head start
6. “No Reserve” and “Reserve Met” auctions should be listed first. This enables faster sales initially and bidders who cant wait long can be active in these sure shot sales lots.

These are just a few things which would make the auction event smooth and professional. But all in all, last nights event was one to be remembered. Good going guys!