Scott7
Top Contributor
Flippa domain name auction page for Clocks.com.au
4 day auction, no reserve.
4 day auction, no reserve.
Clocks.com.au Domain Auction No Reserve
- Thread starter Scott7
- Start date
findtim
Top Contributor
thats great , soooo tell the story? ( i've never used flippa)
you put it on flippa no reserve so why was it not successful? no bids? how does that work? how did you pull it off the auction?
how'd ya find the end user?, via flippa?
we don't need to know price unless you want to, but how was the negotiation process?
i'd be very interested having never done it
tim
you put it on flippa no reserve so why was it not successful? no bids? how does that work? how did you pull it off the auction?
how'd ya find the end user?, via flippa?
we don't need to know price unless you want to, but how was the negotiation process?
i'd be very interested having never done it
tim
Scott7
Top Contributor
There were no bids in the auction. I set a high starting price and if there had been a bid, the domain would have sold. So there was no reserve above the starting price that potential bidders had to guess. There's no way I'd start a no reserve auction for a valuable domain on Flippa with a $1 starting price.
I found the enduser through some outbound email marketing shortly after acquiring the name, which was a long time before the Flippa auction. We had corresponded on and off for many months. I had a very firm minimum price that I would not budge on, however, the enduser felt that this amount was too much. He had also negotiated with the previous owner and was unwilling to pay his minimum sale price which was lower than what I was asking.
The three factors that I believe finally closed the sale were: 1. He really wanted the domain and had been after it for a long time. 2. He realised that he had my best price and that there was no way I was going to sell it for less. 3. He finally grasped the fact that the domain wouldn't have to generate many sales of the high end clocks sold by his business to pay for itself.
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findtim
Top Contributor
oohh ok, i took no reserve as starting at 0
$0, thats how its been in auction i have been involved in.
so really there was a reserve? semantics?
i also ALWAYS use NET breakeven not gross and STATE that " so you sell 200 boxes of chocolates at $30, net $15, so thats 200 x 15 = $3k, and you'll seel that in X months then its ALL profit !!!!
thanks for the info, the no reserve was what i didn't understand from your post
tim
$0, thats how its been in auction i have been involved in.
so really there was a reserve? semantics?
yeh, thats where its at, i've posted this a million times, start breaking down the numbers and create a "breakeven point " for them.
i also ALWAYS use NET breakeven not gross and STATE that " so you sell 200 boxes of chocolates at $30, net $15, so thats 200 x 15 = $3k, and you'll seel that in X months then its ALL profit !!!!
thanks for the info, the no reserve was what i didn't understand from your post
tim
Scott7
Top Contributor
I take 'no reserve' to mean that you don't need to bid more than the starting price for the item being auctioned to be 'on the market'. If there is a bid, it will sell - no need to guess how much you have to bid to get to the point where the item will be sold. Otherwise you could say, 'so really there was a reserve' in the case of an auction starting at $1 where the item would be 'on the market' after the first bid. A reserve implies that the item may not sell even if there is a bid.
Scott7
Top Contributor
Yeah. I may not be correct in my understanding of 'reserve', however, what I stated above was what I meant when writing 'no reserve' in the original auction post. I wasn't trying to be misleading, but rather, wanting to let potential buyers know that if they placed a bid there would be a winner.
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