Moment of Truth for NetFleet's New System

[Scott.L]

I think Netfleet has an "obligation" to make known bidding between parties, this allows the relative bargaining strengths of the parties to play out in market "fairness". Therefore, the onus of proof of "reasonableness" must be upon the representor. The failure to mention the qualification involved [to win the bidding war] makes the representation of the auction misleading.[Netfleet is Concealing the facts from competing parties and thus pressuring a BIM set by its own valuation]

 

[findtim]

I think Netfleet has an "obligation" to make known bidding between parties, this allows the relative bargaining strengths of the parties to play out in market "fairness". Therefore, the onus of proof of "reasonableness" must be upon the representor. The failure to mention the qualification involved [to win the bidding war] makes the representation of the auction misleading.[Netfleet is Concealing the facts from competing parties and thus pressuring a BIM set by its own valuation]

you are correct in many ways but this system has now been in place for quite a while and auda has done nothing that we know off so they must be obeying the rules OR auda isn't doing their job ! so which is it?

we had a very long thread on this when NF changed and very few people/members came to the party to voice their opinions based on the % of thread views it received.

basically it comes do to private enterprise, auda rules and lack of solid competition, this would not happen in a coles/woolies world.

so does the obvious need stating? someone is taking the p!$$

tim

 

[Chris.C]

It's a terrible system from a users point of view. Great user experience is not Netfleet's/Netregistry's priority.

Zhenjie's right, but can you blame em?

I mean are any of us here for the warm fuzzy feeling we get from domain ownership?

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.

Right...



Their new system actually ensures no funny business goes on. You submit your bid, if you are the highest, you win. Pretty simple. If the domain sold for a price below your bid your would KNOW they had scammed you.

So if you think shill bidding is prevalent then accusing NetFleet of being non-tranparent doesn't make sense.

Anyway, I suspect most people's tune will change toward the new system once they reopen the AMA and they get better results selling their domains.

 

[findtim]

Anyway, I suspect most people's tune will change toward the new system once they reopen the AMA and they get better results selling their domains.

chris, chris, chris it isn't coming back ! you're the maths guy ! so why can't you see that it doesn't work for them now.

cost/benefit/% income

the numbers don't add up for them + their current system of blind tendering of drops you can surely see their focus is somewhere else.

tim

 

[Data Glasses]

kinda lost interest in the whole thing

 

[Rudy]

is anyone working on a new competitor site to Netfleet? Their blind bidding system is so frustrating and stupid from a buyer perspective. I'm suprised no one has setup a competitor yet. I used to love Netfleet and I would gladly stay there if they reverted back, but obviously their test phase is over and they feel there is more money in it for them as it stands. OK, so time to move on if that's the case. Sadly.

 

[Chris.C]

chris, chris, chris it isn't coming back ! you're the maths guy ! so why can't you see that it doesn't work for them now.

Have NetFleet told you this?

Because I've heard other things...

the numbers don't add up for them + their current system of blind tendering of drops you can surely see their focus is somewhere else.

That's exactly why I think it's coming back. Their new system has proven very successful.

Also you are implying that the AMA and Snapper are mutually exclusive (ie that you can't have one with the other) which isn't the case at all.

I've mentioned this previously, but I actually think that an AMA helps lift domain values (of which NetFleet and Drop are the biggest beneficiaries of) because it gives liquidity to the market which gives investors more confidence to own domains and it brings higher quality domains onto the market which helps generate buzz and brings more buyers to the auctions.

The problem with the old AMA wasn't that it didn't work, it was that the results were very poor, so people selling domains didn't use it very much (at least not in the no reserve format).

Now that the results are about twice as good I think you will see at least a 3 to 10 times increase in domains being sold via the new AMA.

If you look at the best months of the last AMA it was selling 300 domains a month. So if I'm right the new AMA could generate 900 to 3000 domain sales a month for NetFleet. That would be SIGNIFICANTLY more than they sell via Snapper (they have average 690 snapper sales a month over the last 12 months).

Sure you could say, "but Chris they only make 8% commission with AMA sales", but my response would be "according to my figures the average AMA sale was 3.4 times larger than the average Snapper sale because AMA domains are typically higher quality and they also make money out of the transfer which when done in high volume will be significant".

So assuming that the commission remains at 8% and my assumption of 3 - 10 times more AMA sales via the new system, then the new AMA system would bring in revenues that are between 35% and 150% of their current Snapper revenues!

I don't know about you, but that seems like a pretty decent incentive, not to mention a great way to diversify their own revenue and business risk away from being exclusively dependent on expiring domains which they compete for against Drop.

 

[findtim]

chris.c I won't quote you as it would extend the thread down the page to the antarctic

with all due respect your maths and rhetoric is sound, it is VERY much like a person who rang me last year and said

HI, I have this GREAT idea and want an ecommerce website, I'm a home mum and make paper butterflies, I sold 50 at the markets the other day at $1 each and it only takes me an hour to do each one !!

seriously, even though I dislike the NF system I do understand that these guys are smarter then the average yogi bear !

it isn't coming back

tim

 

[Chris.C]

With @Jonathan Gleeson arrival at NetFleet I thought I would bump this thread back up to both offer some food for thought and restart the conversation on some of these past NetFleet projects that stalled.

Would love to hear people's thoughts or if it is in NetFleet's development pipeline.