Moment of Truth for NetFleet's New System

[Chris.C]

So it looks like today was the moment of truth for NetFleet's new system...

This was the first time, that I can remember, where we had a number of big ticket domains go up for sale on the new platform.

I previously wondered if the tender format would result in lower bids on the bigger ticket domains because there would be no "frenzied" last minute bidding...

Looks the tender system hasn't made much of a difference on the big ticket domain of Wollongong.com.au:

Drop = $8555
NetFleet = $8000

Total value of all bids:

Drop ~ $19600 (78 domains)
NetFleet ~ $21600 (70 domains)

Thoughts?

 

[johno69]

Thoughts?

There were obviously two bidders on Drop both willing to pay more than the price Nefleet got for the same domain.

For me that shows people are reluctant to put all the money on the table when bids are fixed.

Had either of the bidders at $8555 bid on Netfleet they'd have won it.

 

[snoopy]

So it looks like today was the moment of truth for NetFleet's new system...

This was the first time, that I can remember, where we had a number of big ticket domains go up for sale on the new platform.

I previously wondered if the tender format would result in lower bids on the bigger ticket domains because there would be no "frenzied" last minute bidding...

Looks the tender system hasn't made much of a difference on the big ticket domain of Wollongong.com.au:

Drop = $8555
NetFleet = $8000

Total value of all bids:

Drop ~ $19600 (78 domains)
NetFleet ~ $21600 (70 domains)

Thoughts?

Need to compare how the difference in bidding was perviously. If I remember rightly Netfleet used to have "somewhat higher" bids when they were both auction systems.

Sounds like now it is "much the same" and will probably result in Drop having higher bid levels if they consistently can catch names at a similar rate to Netfleet.

 

[findtim]

dare I say that earlier today I stated that my prediction was higher proxies on drop and lower bids on NF for Wollongong.

tim

 

[findtim]

Need to compare how the difference in bidding was perviously. If I remember rightly Netfleet used to have "somewhat higher" bids when they were both auction systems.

Sounds like now it is "much the same" and will probably result in Drop having higher bid levels if they consistently can catch names at a similar rate to Netfleet.

its blatantly obvious that the tide will now shift to drop if they can start catching more domains..... it already has, you can see the tactics have changed by domainers, I imagine more emails,PM's and phone calls are happening now and don't tell me to shhhh as only an idiot wouldn't know this is going on.

"you take this one and i'll take that one"

all you are left with then is the RARE Wollongong that comes along once a month......maybe,

NF changed the game on domainers so the domainers changed the game on them and no doubt will continue in the future.

Wollongong was a really good test of NF system, I think it failed, it was a prime domain that needed some razzle dazzle but all we saw was a blank screen with enter your bid.

so I bid $10, so then I get a screen saying something like " well you know what, if we like it we may give it to you but maybe not, so wait for 14 minutes after the auction and we will tell you " which is REALLY interesting as you can just go to whois and find out if you won after @ 4 minutes !!!!!!!!!!!

currently the fastest way to find out if you had a chance on NF is to refresh DROP !!!

chicken pie theory: you don't know what you don't know thus you don't know what you are missing out on.

tim

 

[Scott.L]

I hate this new system....it's non competative and the non transparency feels scammy (mistrustful) It's all about netfleet making money for itself than about the market competing for a domain. If the bin it hit say so, why continue when it's done and dusted.

 

[johno69]

why continue when it's done and dusted.

Can you still bid higher than the BIN?

Who knows what's going on there anymore really.

 

[Scott.L]

It's stupid, it's anti comparative and I thought there were rules to govern anon bidding

 

[findtim]

Can you still bid higher than the BIN?

Who knows what's going on there anymore really.

you can BUT it doesn't make you the winner, the first person to BIM wins.

i suggest if you do BIM then screen shoot the domain and time, to open NF should somehow post the logs of BIM's but even then are you bidder 1?

tim

 

[Scott.L]

That's right Tim...what assurance does the bidder have? I refered a mate to the site to get a name that was dropped he had no idea what to do he asked me and I haven't used the system until yesterday and I found it to be an negative useless experience..it's an unfair system and should be scrapped.

 

[Scott.L]

What gives netfleet the right to value the domain, it's up to market forces to evaluate it...German Sheppard would of gone higher than it did

 

[dave]

I agree.

Bought my first domain for a while the other day and found the whole system frustrating.

 

[zhenjie]

It's a terrible system from a users point of view. Great user experience is not Netfleet's/Netregistry's priority. Never has been and never will be.

 

[plano]

One of the problems with this comparison is that bidders for the more valuable domain names are using drop to get an idea of how much they will need to pay for a domain name before making a bid on netfleet (if there is no BIN or if the BIN is inflated).

In other words, the bids on drop are partly determining the bids on netfleet. It is an error to then do a straight out comparison of which system is more profitable because without drop as a reference netfleet bids (for the more valuable domains) might be a lot lower.

 

[Scott.L]

Good point Plano, drop can be used as a guide and it plays into drop should nefleet loose the catch.

 

[findtim]

Good point Plano, drop can be used as a guide and it plays into drop should nefleet loose the catch.

not always the case, and note this is written at 1.56pm
http://screencast.com/t/Ojju0uwQHw

2 bidders on redword but no extension of time, 1 bidder is either given up or is now heading over to NF instead having given a false appraisal of what they are willing to pay?

tim

 

[plano]

Was redwood a valuable domain name? How did it compare with wollongong?

 

[findtim]

Was redwood a valuable domain name? How did it compare with wollongong?

nowhere near wollongong, my post was about the bidding tactic only.

tim

 

[findtim]

What gives netfleet the right to value the domain, it's up to market forces to evaluate it...German Sheppard would of gone higher than it did

they have every right to do it as its now a BIM ( buy it maybe) price, just like any tender auction, its just if you want to play that game or your own.

the reality is nobody is forcing us to place bids or BIM domains, sniping hasn't gone its just getting played a different way, NF use to take "the milk" and now have decided to take the cream as well, all it will take is another player into the market and the ballpark changes again.

but for now its exit strategy for NF, get as much as they can for as long as they can and I am sure none of them give a sh^t as they probably have already moved onto something they think will yield better $

tim

 

[Scott.L]

Netfleet may have a right that in the end proves them wrong

Fake bids are not allowed by auction websites, such activities do occur and are a concern. My concern is the transparency of the bidding, I place allot more trust in netfleet more than I should for a domain that they could decide goes to a mate. o wait, its ok mate, you can trust us.