As I predicted when Rick announced that there would be multiple live domain auctions at TRAFFIC New York, Moniker just announced that they are reducing their period of exclusivity. From an email that was just received:
Selling names in Moniker’s Live and Extended Domain Auctions just got easier, with a new seller’s agreement that reduces exclusivity terms down to 60 days. This important revision reinforces our commitment to sell domains on behalf of our clients, and is now one of the lowest terms available on the market. The combined selling power of Moniker and SnapNames makes it possible for us to do this – together Moniker and SnapNames offer the widest reach to domain buyers worldwide.
Facing increased competition from other auction houses, Moniker had to alter their standard agreement, as domain owners seem to be opting to list their domains elsewhere. Another telling sign of this is that Moniker is still accepting submissions for the TRAFFIC auction which will be held in less than a month. As I recall, previously, Moniker closed the submission acceptance period much longer than a month before the auction.
Exactly, increased competition forced this change.
“….reinforces our commitment to sell domains on behalf of our clients…”
I think Moniker waited to long to do this. I already sent mine to Aftermarket.com because they only had the 90/30 exclusive from the start. At that time Moniker was 120/60. Better late then never I guess. 🙂
Overall a good outcome…Kudos to Rick S. for creating some friendly competition.
Monikers auctions lately have been pathetic and they really make no efforts to sell the domains other than just putting them in the auction itself.
Between technical failures, lack of marketing, and a commission that makes Dick Cheney look pious I believe that Moniker’s auctions are doomed for failure.
Cut your comissions to 5% moniker, actually take out ads in places like newspapers, and stop hiding your terms and conditions and maybe more domainers would be interested.