Latonas Set to Challenge Bido with Daily Domain Auctions

Elliot Silver
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Latonas.comI just received Rick Latona’s Daily Newsletter email, which informed subscribers of a change to its format. Instead of listing domain names for sale at fixed buy it now prices, each listed domain name will be for sale in a 24 hour auction on Latonas.com. This is big news, which is sure to drive up interest and participation in upcoming newsletters.

To be eligible to bid, domain buyers must register for an account on Latonas.com. Bid increments will depend on the current price of the auction, but auctions are slated for 24 hours each. Full details can be found on Latonas.com.

Since Sahar launched Bido, he has been discussing the importance of liquidity in the domain space. Similar to Bido, Latonas.com promises to bring liquidity to the marketplace, as buyers will set the price/value of domain names in auction rather than the sellers. It’s a gamble, but as Latona revealed in his newsletter, at least “15,000 domain, internet marketing professionals, and businesspeople” are subscribers.

The quality of domain names is what will set these two competitors apart. With Rick Latona’s ability to offer great in-house domain names as well as pawn-default domain names, he immediately brings a strong product to the market. Likewise, with good names bringing good buyers, it’s likely that others will be willing to take a chance and list their domain names for sale on Latonas.com.

In fact, I am going to be placing several bids today and will probably send a few of my domain names to sell in the coming days.

Some Sales May Not Seem to Make Sense to Me, But They Make Sense to The Buyer

Elliot Silver
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I frequently see domain sales reports that don’t make a whole lot of sense to me at face value. The sales prices may seem off the charts compared to names I believe are similar. Does this mean that a sales venue or seller has fraudulently reported it or that there was something else nefarious that caused a sale to happen? In most cases, that is unlikely (especially because Ron does his best to verify sales). It’s more likely that the people analyzing the sales – like myself – just don’t have enough information about the sale in order to form an educated opinion on it.

As I have mentioned in the past, you sometimes need to overpay to get the domain name(s) you want or need for a project. Sellers frequently need to be convinced to sell their domain names, and it can take a significant offer to make it happen. With a proven business model or a strong business plan, these domain acquisitions may make sense to the buyer, although they leave others shaking their heads.

Likewise, a domain name may have certain attributes (like type-in traffic) that results in significant revenue opportunities. When this is the case, a buyer may have a plan to monetize the traffic much better than the seller, and he can therefore pay more for the domain name than others would value it at. A sales price may seem high, but in reality, the price is favorable to the buyer.

Aside from questioning the validity of specific sales, another thing that some people do is transpose their perceived rationale for a domain sale onto the value of their own domain names.   “XYZ.com sold for $100,000, so my domain name, e-XYZ.net must be worth $10,000,” some people exclaim. This is usually not the case since domain names are unique.

While abnormal domain sales take place all the time, uninformed domain investors shouldn’t question the validity of the sales without any type of evidence (other than their own perception), especially in a public forum. Further, domain investors shouldn’t presume their domain names are worth the same amount since all domain names are unique assets.

Sex.com Sale To Be a No Reserve Auction

Elliot Silver
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As I previously reported, Sex.com will be up for auction at the law offices of Windels Marx Lane & Mittendorf, LLP, 156 West 56th Street, New York, New York on March 18, 2010 at 11 am. The auction is a result of a foreclosure, a few years after the 2006 sale, which was reported (but never confirmed) to be in the ballpark of $14 million.

At the time of my initial article, neither the auction house nor the law firm representing the lender would confirm the opening price/minimum bid for the auction, although it was stated that a $1,000,000 certified check would be required to bid.  

I was just informed by Richard Maltz of Maltz Auctions that there will be no reserve price for the Sex.com auction. Registered bidders will be permitted to bid online or in person at the Windels Marx Lane & Mittendorf, LLP offices. In addition, Maltz added, “the secured party does reserve the right to bid under the law.”

Without a reserve price set, I would expect several bidders to participate in this landmark auction. Full auction details, including the terms and conditions (pdf) of the auction are available on the Maltz Auctions website.

Exclusive Domain Conference Being Held at The Palms on March 22-23

Elliot Silver
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Did you know there’s an exclusive domain conference being held at The Palms resort in Las Vegas on March 22-23? The Domain Madness 2 conference is being run by DomainConsultant.com, and it sold out within a few days. Most of the attendees are domain investors who attended last year, and a few others received personal invitations.

Last year, the conference was held in a private suite at The Palms, and I heard it was a great event. Like last year’s conference, there’s going to be a live domain auction held at the event. Bidders can bid on site or they can bid online using a platform that will be announced soon.

You are welcome to submit domain names for review, but they are looking for great domain names only. Visit the Domain Consultant website for more details on domain submissions.

Could .Jobs Get a Boost and Help Future gTLDs?

Elliot Silver
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I read an article in the Sydney Morning Herald today about the former President of Monster.com, Bill Warren, who is now working as the Executive Director of DirectEmployers Association, an organization that intends to utilize a network of domain names across the .Jobs domain extension. The effort could give a boost to the .Jobs domain extension, which has been around for a while but hasn’t made inroads in consumer awareness.

According to its website, DirectEmployers Association is a nonprofit HR consortium of leading global employers formed to improve labor market efficiency through the sharing of best practices, research and the development of technology. In total, over 500 large companies such as AT&T, IBM, American Express, and Johnson & Johnson are involved with this organization.

DirectEmployers Association plans to combine its software with regional and career-related .jobs domain names. The article used Atlanta.jobs as an example, and that domain name was registered on February 4, 2010. The domain name currently resides on WowEmployers.com name servers, which are registered to DirectEmployers  Association. A reverse IP search of the Atlanta.jobs IP range shows other names such as Florida.jobs, Health.jobs, Europe.jobs, and many others.

According to the SMH article, this is how the organization will work:

Companies that belong to the association pay a $15,000 annual membership fee and will receive prominent placement on the “.jobs” Web sites. Smaller companies can purchase a “.jobs” domain name for about $125 a year and then post jobs for free. They can also work through their state employment agencies, which post jobs online at no charge.

At those prices, the new “.jobs” system could be another online innovation that undercuts what currently exists _ much as the invention of job boards themselves undermined newspaper help-wanted ads.

If this becomes a popular job search tool, it could provide a boost to future gTLDs. .Jobs is a relatively unknown extension, but it has much more actual meaning that extensions like .com, .net, .mobi…etc. It could train people to use actual words such as .Jobs when they are browsing the web.

Of course there will also be major obstacles to this. It will require human resource departments to ensure their listings are placed on the appropriate .jobs websites in addition to their own corporate sites. I am sure they will also use proven websites like CareerBuilder.com and Monster.com, in addition to other sites like TheLadders.com. Likewise, they will also have to get web browsers to visit .Jobs websites, which is something to which most people are unaccustomed.

This is going to be a very interesting project to observe, and it could provide a glimpse into the future if and when gTLD domain names are approved by ICANN.

Successful Domainer Starts Domain Blog

Elliot Silver
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One of the most successful domain investors is also probably one of the youngest and someone that has sort of flown under the radar. He is a 24 year old Czech domain investor who got his start in the business in 2007, and he has rapidly grown his business in a very short period of time. He prefers to keep his name private, but he is the real deal.

This past week, he announced the launch of his domain blog, Facing the Absurd, which offers his take on the domain industry. His business encompass many verticals, including domain names, lead generation, affiliate marketing, domain monetization, a car insurance broker, search, arbitrage, Facebook apps and games, and even a liposuction clinic. In total, his companies employee 70 people.

This blog promises to offer a different perspective on the domain industry than most, and it is destined to become one of the better resources for domain investors. Check it out when you have a chance.

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