I have an idea for a private auction service that can combine the efforts of a well-respected company like Moniker with the service of an exclusive domain broker such as Kevin or Alan. My idea is that a company creates a private auction for a single domain name on behalf of a client. The company would reach out to potential end users who would be most interested in purchasing the domain name. For example, if Candy.com was on the block, the company would reach out to Mars, Inc., Hershey’s, or Cadbury.
Similar to Scott Boras’, infamous blue satin binder he creates for every player he represents, the company would put together a formal presentation highlighting the attributes of the domain name and why it is of significant value. This presentation would be mailed to the C-Suite and Marketing Department of interested companies, and it would be followed-up with a call. The more highly the domain name is touted, the greater the interest.
Bidding on the domain name would be similar to the posting system in place for Major Leage Baseball teams to bid on Japanese baseball players. After a specified period of time, the executives would be required to submit a sealed bid for the domain name. On a set date, the auction company would provide the domain owner with the anonymous bids and allow him to review the bids. After 48 hours, the domain owner would decide whether to accept the highest bid or not.
Although there is more risk for the auction company than a standard auction, personally reaching out to end users is a much more lucrative audience than a domain investor conference. This service is also different than a broker’s service as the broker may not have the contacts in his rolodex, and this would be much more formal.
You’re right on here, Elliot. This is the kind of vehicle I’m looking for when I think about selling one of my “big” domain names (like bar.com or place.com). I hope somebody takes you up on this.