I've had this idea for a while and the more I think about it the better it sounds. Please do tell me if I am crazy though.
The idea is for a reverse auction platform for selling UK domain names. The format would be so that users can create an auction, set a start date and end date, then set the starting price and the rate at which the price drops and thus the lowest selling point. If you have ever seen the following thread you'll understand how this format works:
http://www.acorndomains.co.uk/domai...e-letter-domain-kkk-co-uk-only-one-pound.html
I feel this idea has the following two distinct advantages over the traditional bid based auctions:
I honestly feel an auction platform with this format can work and can improve the market for us all. If this was built a lot of effort in promoting and educating end users on domain values will also go into it.
What do you all think? Have I gone mad? Am I barking up the wrong tree?
Many thanks in advance!
The idea is for a reverse auction platform for selling UK domain names. The format would be so that users can create an auction, set a start date and end date, then set the starting price and the rate at which the price drops and thus the lowest selling point. If you have ever seen the following thread you'll understand how this format works:
http://www.acorndomains.co.uk/domai...e-letter-domain-kkk-co-uk-only-one-pound.html
I feel this idea has the following two distinct advantages over the traditional bid based auctions:
- Increased sale prices because the risk of losing an auction will feel far greater, thus enticing buyers to hit purchase and snap up a domain for perhaps a higher price than they anticipated simply out of fear of losing it.
- Shill bidding will be non-existant for obvious reasons.
I honestly feel an auction platform with this format can work and can improve the market for us all. If this was built a lot of effort in promoting and educating end users on domain values will also go into it.
What do you all think? Have I gone mad? Am I barking up the wrong tree?
Many thanks in advance!