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04|09|2010 02:02 pm EDT First Daily Auction Rings In Over $130,000 In Sales

by Adam Strong in Categories: Domain Auction announced that the switch from a daily sales newsletter to daily auctions just yesterday and the auction’s are off to a running start.  Reminiscent of the early days of, the inaugural auction featured all 117 domains with $1 starting bids.

From our “unofficial” tally (see at bottom of post), the auctions closed today with $132,045 in sales.  Top bids were received on at $25,000 and at $16,500.

The auction seemed to run smooth on Latonas platform, much smoother than the last time. We did experience a few minor hiccups on the site pages not immediately loading and I also noticed that some auctions that actually said CLOSED on the catalog page  still showed time on the clock when I went to that auction’s page.  All fairly minor bugs and it appears all bids are going in and the site is staying live. When we talked to Rick he said that they appreciate any feedback.

As a bidder, one thing to take note of on the auctions.  I noticed while bidding that there were 2 type of bidding options that aren’t typical in other platforms.  There are 2 fields to enter a bid,  a “proxy bid” and a “fixed bid”.  It’s important to take note of which type of bid you are placing especially if your intentions were to use  a proxy bid, be sure to use the correct option. When you don’t use the proxy option at the top, and you enter a “fixed” bid (the lower option) the maximum bid you placed is bid all at once.   Not reading this carefully, I bid $200 on a name and the previous bidder only had a $70 proxy. Fortunately for me it was a small amount and I got outbid quickly anyway.

Most online domain auctions use just the proxy bidding system so that users don’t end up spending all their money on a domain that had no other competition in that range, but sometimes a bidder may just want to plunk down their maximum bid and walk-away.  If you watch a live auction, you’ll see these types of actions often.  A bidder will silently wait as bids climb up and then suddenly the bidder shouts out a number that eclipses the current bids . . . It silences the auctioneer and often times stops the auction at that bid.  It’s a lot more effective in a live environment where bids are slowly elevating but Rick told us that he thought the online auctions were as good a place as any to include this option.

Interestingly the $25,000 bidder on didn’t appear to have a whole lot of competition at that level as they bid an amount that skyrocketed above the last proxy bid of a mere $572.  Latona informed us on the phone that he has already reached out the bidder and the bidder told him that it was no mistake and essentially he didn’t want anyone else bidding on this name.  This user is a perfect example of what a Fixed Bid is intended for, it gets other bidders to back off and quickly jumps an auction forward.   I might suggest that this bidder does this closer to the end of the auction next time.  It’s not effective to “show your hand”  this early.

gtbit2010 25,000 USER BID Apr 09, 2010 – 08:09:45 AM
MAuricchio 572 PROXY BID Apr 09, 2010 – 01:11:31 AM

This is a great showing for a daily auction and it would be great to see the team keep up this pace on a daily basis.  Good luck Rick !

See the list of the results after the jump.    $100    $30    $1350    $1350    $120    $2373    $1351    $900    $1100    $20    $601    $16    $825    $50    $1335    $455    $310    $240    $75    $16,500    $2764    $166    $110    $850    $1075    $735    $175    $71    $125    $344    $950    $5722    $103    $1751    $2222    $600    $2914    $352    $401    $256    $202    $644    $50    $701    $450    $455    $250    $725    $60    $210    $277    $30    $750    $75    $150    $805    $526    $750    $110    $916    $564    $501    $150    $501    $205    $1751    $775    $551    $622    $1501    $210     $8005     $212    $1112    $210    $82    $25    $102    $101    $7010    $101    $13    $11    $158    $411    $375    $318    $25,000    $106    $1    $30    $256    $40    $52    $3750    $8888    $155    $1270    $212    $177    $110    $46    $664    $85    $560    $50    $311    $250    $260    $11    $2055    $325    $313    $11    $107    $2450

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[…] Just an FYI. sold for $7,010, but we understand the point. First Daily Auction Rings In Over $130,000 In Sales | Domain Name News Best, […]


April 9, 2010 @ 2:52 pm EDT

I’m glad you brought up the lot, I was under the impression that it was a mistaken proxy bid, and that the sale would be canceled.

I think in fixed bid situations, it’s better to do it early rather than near the auction’s end. The point is to make a bold statement and scare everyone else out. If you wait too long, you run the risk of several people getting in to a bidding war and driving it above the price before you even get to drop the hammer… exactly what you’re trying to avoid.

I think the buyer timed it well. Not early enough where competitors have a chance to re-group, and not late enough where other bidders could have already stolen his thunder.

Anyway, thanks for the great coverage and for checking with Rick on the sale.


April 9, 2010 @ 3:41 pm EDT

I am not sure if others noticed this or not but I pointed it out to Rick and he stated it will be fixed by next auction.

The “Minimum Bid” function was not working. Although it stated a specific price for the minimum fixed price bid and proxy bid, a person could actually bid lower than the stated minimum bid.

Example, I was winning for $31. The minimum stated fixed bid price was then $131, although I got out bid by somebody who put in a later fixed bid of $41. Technically, the bidder should have had to bid the minimum increase of $100 and bid at least $131 but clearly the minimum stated bid default was not working and allowed bidders to ignore the minimum bid price.

I may or may not sue because of this. :) J/K


April 9, 2010 @ 4:13 pm EDT

Jamie, I noticed the same thing. One of the auctions I was watching was at $125, and it said the minimum bid was $225. I wish I had known it wasn’t working, I would have bid on it.

Anyway, a $100 increment when the bidding is that low is crazy. I hope the issue was that it wasn’t displaying the correct min bid, as opposed to it showing the correct amount but it getting ignored.


April 9, 2010 @ 4:20 pm EDT

From chatting with Rick, it just appears the system was not noticing the minimum displayed bid amount, compared to what a bidder could enter and bid. I agree that $100 bid increases when an auction amount was $1 is a bit steep and likely hurt the prices on some domains sold. Some domains likely sold for more because of the “minimum bid” price shown but on the flip side… may have pushed some bidders away like yourself that would have bid again, just not at $100 increase.

The site is still in beta and these things are expected but the money being paid is real as well. ;)


April 9, 2010 @ 4:40 pm EDT

“I might suggest that this bidder does this closer to the end of the auction next time. It’s not effective to “show your hand” this early.”
How can you say it is not effective when the guy got the domain name at a price he was prepared to pay for it? I’ll bet the buyer doesnt share your view here.


April 9, 2010 @ 5:15 pm EDT

There is no better way to intimidate all other bidders than to place your max bid right away, versus trickle up bidding. Many experienced bidders do exactly that. Overall, a great start at


April 9, 2010 @ 7:39 pm EDT

I expressed my sentiment toward that seller’s agreement over here:

WAY too restrictive.


April 9, 2010 @ 10:33 pm EDT

” There is no better way to intimidate all other bidders than to place your max bid right away, versus trickle up bidding. ”

Theres also no better way to pay more than by doing this as well lol

Adam Strong

April 9, 2010 @ 11:53 pm EDT

@Michael and @huh . If you put your fixed bid in early you show your hand. Every domainer under the sun is going to wonder “what does this guy know that I don’t?” If you know something about a lot that nobody else does it’s best to bluff imho. Why would you give anyone any indication of your intent until necessary ?

Bidding early and bidding large like this always draws in more attention to the auction. The tactic used to scare people away should be used only when it’s necessary. This auction wasn’t climbing at a pace which would dictate that imho. Rick even told me himself he had to call the bidder to verify that he didn’t make a mistake, so he was clearly surprised by the timing/tactic.

As Josh points out, it’s highly likely this guy paid a bit more than he needed to but maybe his time is more valuable. That’s his call not mine.

Beth Adams

August 23, 2013 @ 3:34 pm EDT

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Thanks for the information about the
auctions very helpful.

P { margin-bottom: 0.08in; Thanks for the information about the
auctions very helpful.

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