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In an e-mail this morning, SnapNames CEO Jeff Kupietzky and general manager Craig Snyder notified SnapNames customers that an ex-employee was involved in up to 5% of auctions between 2005 and 2007. They have also announced a reimbursement program for some of the affected customers. Customers who won auctions where the ex-employee is believed to have bid up the price will receive a refund of the difference with interest. I spoke to a SnapNames employee this afternoon who confirmed that the fired employee was in fact Nelson Brady who used the handle ‘halvarez’ when bidding on SnapNames auctions. A photo of Nelson Brady is available on DNjournal here.
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Sedo had a good week of sales last week with the total number pumped up by Resumes.com selling for $400,000 and the single character .BIZ domains. The international domains had a good showing with Tisch.de making the biggest splash, “tisch” is German for “table.”
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While there are one or two domain auction companies that have a checkered past when it comes to ethics and the law, the vast majority of companies conducting domain auctions today are worthy of trust. The question of trust, however, should extend beyond rigging auctions to an analytics and economics level. Do you worry that placing a large bid at an auction house has the potential to have a negative impact on your domain acquisition economics?
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In a successful auction ending today, Sedo was able to clear out all 31 single character .BIZ domains on the block. We estimate the auction pulled in $369,195 at an average price of almost $12,000 per domain name. This was the first time the Neustar, the .BIZ registry operator, has released single character domains. There was much speculation about where prices would end up because of the rarity of single character domains. Sedo set a minimum price of $5,000 for the domains, and all met the minimum.
You’re at the tail end of a 4 day auction. There were one or two early bids, but the price is way below your max. With 10 minutes to go, someone comes in and bids up the domain, but you’re still ahead. Five minutes later they do it again to extend the auction. After 30 minutes of extensions you’re ready to yell because they keep delaying it and you have an appointment to make.
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