New one minute auction site...Starts Monday, May 15th

len · May 16, 2009

New auction site - DNKO - The New Standard For Domain Name Auctions

Looks like the first auctions start on monday May,18th.... and guess what...each auction only lasts for 60seconds!! Wow, a quick way to make money if it takes off!!

The site looks and feels very professional and the actual auction process is outlined in full: DNKO - The New Standard For Domain Name Auctions

Be very interesting to see how this goes.... Apparently they are looking at three auctions periods a week with all domains that are entered for each auction period going on the block for one minute each. Pre-bidding is allowed and reserves can be set for a small fee.

If a domain is sold then the sales fee is a very reasonable 5% ->>>>> Off to submit some domains.

Disclaimer: I am in no way, shape or form affiliated with this site.

bensd · May 16, 2009

What a rediculous idea

golddiggerguy · May 16, 2009

60 seconds

Madness 60 minutes maybe yes but seconds erm NO

doodlebug · May 16, 2009

If pre-bids are being taken then 1 minute must just be for the auto bids to be placed therefore a 1 minute result time.

The actual auction time would be from the time the first pre-bid is placed. So could actually be days or weeks.

doodlebug · May 16, 2009

How about goneinsixtyseconds,co,uk :lol:

len · May 16, 2009

One thing I have learned in life.......Don't knock anything until you have tried it!

golddiggerguy · May 16, 2009

Almost sounds as though your running it Len

len · May 16, 2009

golddiggerguy said:
Almost sounds as though your running it Len

I wish....Lol

Found out it is the brainchild of someone from another forum. Maybe they will have to change the time to let's say 5mins if it doesn't work out but I think we domainers should give it a try.

There's no harm in that and it's the only way we can see if this is going to work or not.

Always room for other auction alternatives in this business IMO.

len · May 17, 2009

Update: There are now 90 domains entered into the auction on Monday!!

jasman · May 17, 2009

Daft idea. If you're selling, you're bound to miss out on bids if it's just 60 seconds, so why would anyone want to put a name up for auction using that system? Not surprisingly the domains in the auction look crap.

len · May 17, 2009

jasman said:
Daft idea. If you're selling, you're bound to miss out on bids if it's just 60 seconds, so why would anyone want to put a name up for auction using that system? Not surprisingly the domains in the auction look crap.

I think the platform bodes more towards pre-bids. The concept being that if you see a domain you want and it's resonably priced then making a pre-bid is more likely to get you the domain as there is only 60 seconds for other bidders to try and snag the domain once the auction starts.

How many domains have you seen go through Sedo for seven days that never see another bid?

BTW if you have ever been in an auction you will know that most of the bidding occurs in the final minute or so.... Also, any bids at DNKO will extend the auction by 15secs from the time the bid was made.

Oh, and if there is so much "Crap" in there why don't you submit one or two of your "Superior" domains!