I received an email this afternoon from Flippa about a potential upcoming auction showcase.
They are looking to promote the auction heavily according to the email. You must be willing to set a $1 starting price and they would like the domain to be valued at greater than $1,000.
I will be interested to see how many submissions they get.
Kevin Fink commented,
To be clear, we won’t be running this auction unless we receive a specific number of premium assets to include in the ledger. Operative word being “Premium.”
Hi there,
We’re looking to run a $1 Reserve Showcase Auction next month. Interested in being a part?
Submit your domains to see if they qualify.We’re seeking domain names valued at > $1,000, with no limit on how many you submit. If accepted, you must agree to our terms that you are willing to sell to the highest bidder, no matter the bid. $1 start price, which means it could end at $1 – so if this concerns you, please do not submit.
There are no upfront costs, and the flat commission if sold is 15%.This will be a heavily marketed event; the date, time and method is TBD.
For more details, email Domains@Flippa.com
Thanks for the post, Ray.
To be clear, we won’t be running this auction unless we receive a specific number of premium assets to include in the ledger. Operative word being “Premium.”
An extreme example is something like Mineral.com, which was listed with a $1 reserve last year and generated a lot of buzz to eventually sell for $30,000.
An example of something that won’t work is someone trying to liquidate their knick-knacks.
This auction will be heavily marketed so we can maximize exposure and targeted buyers to one place. Date, duration, method and timing to be determined, contingent on achieving the submissions we need to make this worthwhile for our sellers.
We’re excited to mine through our submissions and will have an update in the days to come.
Thanks for the clarification Kevin. Best of luck.
I received this email too, do you know when this auction will begin?
Hi Ray + Everyone –
A quick update on this:
We are not proceeding with this $1 Reserve “Showcase” Auction. We did not receive the inventory needed to conduct a worthwhile auction for our sellers. This was understandable, given the considerable risk in launching with a $1 reserve.
We will have an announcement in our blog and newsletter this coming Monday that will highlight a revised Showcase auction we will be running.
In short: it will be a No Reserve auction, which means you can submit your domains at the minimum price you will wish to retain (after 15% commission), and the first bid guarantees a sale. You do not need to submit with a $1 Reserve, though those submissions are welcome. For example, if you have an LLL .com and are looking for $30,000, you can submit that domain with a $30,000 reserve – and if it gets a bid, it is guaranteed to sell. All submissions are subject to approval.
Flippa will offer a pre-bidding process to gather buyer intent as well as to vet all interested buyers. More information to follow…