The January 3rd Auction is heating up. The domains are starting to come in and there are already some good domains being submitted. A lot of sellers are claiming that a reduction of 20% from the reserve price is not fair if the domain does sell during the auction. It could be imagined that bidders looking for deals will not bid and try to acquire the domain for less after the auction. This is far from the truth, if multiple bidders want the domain it is going to go far higher then the reserve price during the auction. However the unsold domains should be reduced a little to stimulate action. We are going to compromise on this and try and reduce fears by lowering it to a 10% reduction after the auction. Our goal as an auction house is to help owners sell domains. We do a lot of promotion of the domains before the auction and we are selective about what we choose so generally the list of domains that do not sell needs help after the auction.

Post auction unsold domains
A price reduction of 10%. Commission will also go down 10%. We will only charge 9% instead of 10% if the domain is sold below the reserve price. However, It is possible for domains to sell higher then the reserve price post auction if we have multiple people approaching us.

Submission Cut Off Date
Christmas Eve is the cut off date, everyone will wake to the final list of domains being sold on Christmas day. What better way to wake up then to see what domains are under the auction tree.

I would encourage people to submit domains early, it is harder to make the final list at the end then in the beginning.

Please read yesterday’s previous announcement for more rules.