Over the past couple of weeks, Rick Latona’s team at Latonas.com has had a series of one day domain auctions, with all but two auctions having all domain names listed at $1.00 reserve prices. When a seller opts to list 50+ domain names in a single auction with basically no reserve price, they must have confidence in the venue. If interested buyers aren’t present or a technical glitch prevents people from bidding, it can end in disaster for the seller.
So far, the people who have held auctions at Latonas.com – and Latona’s company itself – have all made out fairly well with their auctions, netting well over a quarter of a million in sales. Here are the auction totals so far:
- House Auction: $132k
- House Auction: $19k
- Richard Whitney auction: $46k
- .MX auction: $3k
- $1,000 House auction: $93k
- Edwin Hayward auction: $27k
- Eddie Sherman auction: $8.5k
I think Snapnames is the only other auction venue that allows private domain investors to hold personal auctions on its own proprietary platform (Bido may, although I am not 100% positive). The major difference though is that Latonas.com only has one auction during that day, so all of the marketing focus is on the one single auction.
Today, Domain Capital is holding an auction, with the prize domain name being Dolares.com (meaning dollars in Spanish). The auction already has over 40 bids and a price of $2,000 with just a few hours remaining. There are a few other good names in the auction, but with a fairly small auction like this, the best name stands out even more for people to bid.
Will Rick be able to build off of this great momentum? Only time will tell, but there are a number of companies out there with sizable portfolios who would love to drive 5 figures in revenue in a single day, and there are plenty of people out there looking for good deals to keep the sales prices honest.