So NamesCon conducted what I think was a successful live auction last night. Mike and Monte and Richard did a great job and with a 65% sell through rate, it shows Monte is still the best when it comes to conducting live auctions. I live tweeted it for four hours, not one problem with the Snapnames stream, kudos to them.
My first thoughts when the list came out prior to the conference were, Is it too early ? Is it too early to auction off new gtlds and have them sharing the spotlight with some great .com domains ?
Certainly Dot Club is the most popular kid at New Gtld High School. They are able to sell names for prices most would not have had thought possible. Wine.Club for $140,000 is an excellent sale, it is an all cash sale and nothing like the previous $100,000 Coffee.Club transaction.
The people at Dot Club can have laser like focus, this is their baby, they don’t have 300 strings and vying for more every month. They can hone in on how to best market their baby.
56 out of the 87 sales last night were new gtlds, Dot Club had 6 of those sales, they had 4 out of the top 5 new gtld sales in the auction. Dot Nyc had 15 sales but nothing over $1,100.
.Xyz had 6 sales, nothing over $1,000. The Dot Ink extension produced 4 sales all in the $1,300 to $1,600 range. Dot Wiki had 7 sales and Dot Vegas put up 10.
Email.host sold for $6,500 congrats to Radix. (Full Disclosure Radix Advertises on TLDinvestors and TheDomains, where I write)
No reserve auctions were certainly the key to getting sales, the new gtlds with $10,000 – $25,000 reserves seemed to be too pricey for a domainer mostly audience. Dot Club went against that tide and was able to sell some names where they had higher reserves.
We need to keep the conversation balanced, domain investors were not the beneficiary of the larger sales and the feedback I have gotten from some in private and on forums is, “Who cares ? The money went to the registry and that means jack**** to me” We are in the early innings of the new gtld game, many are going to lose a lot of money, let’s make that clear, there are new domain investors regging names that make no sense in .com or their chosen extension, these people need to stop and step away from the keyboard. We all pick some bad domain names but some of these newer entrants are setting themselves up for financial ruin.
We also have to remember Dot Club did not get rights to the extension for just $185,000 and some working capital. I like their approach they know what they are and they are out to make sales and market the extension. You can’t just sit back and wait.
Hopefully the auction showed new gtld investors there is an inkling of interest in the aftermarket but we have to remember this was a captive audience ran by some of the best in the business. You have to be selective in your registrations and learn the best way to market and sell, to borrow from the “If you build it, they will come” when it comes to new gtld investing you need to be doing a 180 from that axiom, “If you just reg it, they won’t come” there is endless supply and you need to market your wares.