This morning, I learned that there will be an online component to the domain auction that is being held at the TRAFFIC conference in two weeks in Ft. Lauderdale.
Victor Pitts from Above.com sent me a note today to let me know that his company will be sponsoring the TRAFFIC conference silent domain auction. It’s not a traditional “sponsorship” though. Above.com is hosting the silent auction on its Domain Marketplace platform.
Auction lots are currently listed for sale on the marketplace right now, and interested parties can place their bids now if they would like. I asked Victor how the silent auction will work, and he explained it to me:
“If a name meets reserve in the Silent Auction, before the Live Auction then the domain would not move from the Silent Auction.
If the domain does not reach reserve in the Silent Auction, before the Live Auction, then Traffic
organizers have the option to move them to the Live auction.
TRAFFIC organizers have the option to move any domain that does not sell in the Live Auction, to the Silent Auction.”
It is good to see that there is an online component to the TRAFFIC auction. Although there will not be online bidding during the live auction, people who do not wish to use phone bidding may participate prior to the auction. It also gives a second chance to domain names that weren’t purchased during the live auction.
I think this format benefits all parties, and it’s nice to see an online component to the auction thanks to Above.com.