Rules on Auctioning Names

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Rules on Auctioning Names

Post by WagerHost on 10/9/2012, 11:07 pm

After a discussion with Divine, we've both come to a conclusion that the ONLY way to sell names on this forum is by auctioning it. This will be treated like any standard auction with a time limit, set price, and auto win price.

Of course doing this there will be a bit of trust involved. The seller can refuse to sell their name after their auction has reached the end of their time limit but of course this would end up resolving in a TWC issued.

For people thinking you'll end up getting a very low ball bid by the end of the auction then just set a higher starting bid that you're satisfied with.

Please read the requirements carefully if you wish to become an auctioneer:

http://www.smokinelite.com/t66438-official-display-name-auction-application-not-open-yet
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Re: Rules on Auctioning Names

Post by Heartstop123 on 11/9/2012, 12:40 am

WagerHost wrote:After a discussion with Divine, we've both come to a conclusion that the ONLY way to sell names on this forum is by auctioning it. This will be treated like any standard auction with a time limit, set price, and auto win price.

Of course doing this there will be a bit of trust involved. The seller can refuse to sell their name after their auction has reached the end of their time limit but of course this would end up resolving in a TWC issued.

For people thinking you'll end up getting a very low ball bid by the end of the auction then just set a higher starting bid that you're satisfied with.

Please read the requirements carefully if you wish to become an auctioneer:

http://www.smokinelite.com/t66438-official-display-name-auction-application-not-open-yet

I don't understand why they would get a TWC for that?
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Re: Rules on Auctioning Names

Post by Julian on 11/9/2012, 12:50 am

Heartstop123 wrote:
WagerHost wrote:After a discussion with Divine, we've both come to a conclusion that the ONLY way to sell names on this forum is by auctioning it. This will be treated like any standard auction with a time limit, set price, and auto win price.

Of course doing this there will be a bit of trust involved. The seller can refuse to sell their name after their auction has reached the end of their time limit but of course this would end up resolving in a TWC issued.

For people thinking you'll end up getting a very low ball bid by the end of the auction then just set a higher starting bid that you're satisfied with.

Please read the requirements carefully if you wish to become an auctioneer:

http://www.smokinelite.com/t66438-official-display-name-auction-application-not-open-yet

I don't understand why they would get a TWC for that?

It's pretty much like false advertising. You and someone else fight out over a name and after you finally win, he lies and doesn't sell the name. It is just to insure we are getting serious sellers.
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Re: Rules on Auctioning Names

Post by Heartstop123 on 11/9/2012, 12:58 am

Jewlian wrote:
Heartstop123 wrote:
WagerHost wrote:After a discussion with Divine, we've both come to a conclusion that the ONLY way to sell names on this forum is by auctioning it. This will be treated like any standard auction with a time limit, set price, and auto win price.

Of course doing this there will be a bit of trust involved. The seller can refuse to sell their name after their auction has reached the end of their time limit but of course this would end up resolving in a TWC issued.

For people thinking you'll end up getting a very low ball bid by the end of the auction then just set a higher starting bid that you're satisfied with.

Please read the requirements carefully if you wish to become an auctioneer:

http://www.smokinelite.com/t66438-official-display-name-auction-application-not-open-yet

I don't understand why they would get a TWC for that?

It's pretty much like false advertising. You and someone else fight out over a name and after you finally win, he lies and doesn't sell the name. It is just to insure we are getting serious sellers.

I wouldn't consider it lying, and i don't think it deserves a TWC
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Re: Rules on Auctioning Names

Post by Ahmed on 11/9/2012, 2:08 am

Heartstop123 wrote:
Jewlian wrote:
Heartstop123 wrote:
WagerHost wrote:After a discussion with Divine, we've both come to a conclusion that the ONLY way to sell names on this forum is by auctioning it. This will be treated like any standard auction with a time limit, set price, and auto win price.

Of course doing this there will be a bit of trust involved. The seller can refuse to sell their name after their auction has reached the end of their time limit but of course this would end up resolving in a TWC issued.

For people thinking you'll end up getting a very low ball bid by the end of the auction then just set a higher starting bid that you're satisfied with.

Please read the requirements carefully if you wish to become an auctioneer:

http://www.smokinelite.com/t66438-official-display-name-auction-application-not-open-yet

I don't understand why they would get a TWC for that?

It's pretty much like false advertising. You and someone else fight out over a name and after you finally win, he lies and doesn't sell the name. It is just to insure we are getting serious sellers.

I wouldn't consider it lying, and i don't think it deserves a TWC

Agreed, especially if the price dosent satisfy the owner. What if you were auctioning a 500M+ name and only got 300m?

There are special cases, but most of the time honest sellers just dont like the price they are offered.
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Re: Rules on Auctioning Names

Post by WagerHost on 11/9/2012, 2:14 am

Ahmed wrote:
Heartstop123 wrote:
Jewlian wrote:
Heartstop123 wrote:
WagerHost wrote:After a discussion with Divine, we've both come to a conclusion that the ONLY way to sell names on this forum is by auctioning it. This will be treated like any standard auction with a time limit, set price, and auto win price.

Of course doing this there will be a bit of trust involved. The seller can refuse to sell their name after their auction has reached the end of their time limit but of course this would end up resolving in a TWC issued.

For people thinking you'll end up getting a very low ball bid by the end of the auction then just set a higher starting bid that you're satisfied with.

Please read the requirements carefully if you wish to become an auctioneer:

http://www.smokinelite.com/t66438-official-display-name-auction-application-not-open-yet

I don't understand why they would get a TWC for that?

It's pretty much like false advertising. You and someone else fight out over a name and after you finally win, he lies and doesn't sell the name. It is just to insure we are getting serious sellers.

I wouldn't consider it lying, and i don't think it deserves a TWC

Agreed, especially if the price dosent satisfy the owner. What if you were auctioning a 500M+ name and only got 300m?

There are special cases, but most of the time honest sellers just dont like the price they are offered.

If you were auctioning a 500m+ name why would you set the starting bid at 300m when you know yourself you wouldn't even take it for 300m?
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Re: Rules on Auctioning Names

Post by Fire on 11/9/2012, 3:37 am

WagerHost, one thing doesn't make sense to me -

I've recently been running a RSN Selling shop. My method was to wait until someone showed interest in a name (who would post on the thread or PM me) and THEN start the auction.

Is this still allowed? If not, I think the rules should be tweaked so it is.


EDIT: I think we should use the reserve method that I saw somewhere. This is where you have a starting bid and a autowin, and a reserve price. If by the time of the auction ending the price hasn't hit the reserve price yet, the seller doesn't have to sell. The seller has previously sent the reserve price to WagerHost.
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Re: Rules on Auctioning Names

Post by WagerHost on 11/9/2012, 3:57 am

Fire wrote:WagerHost, one thing doesn't make sense to me -

I've recently been running a RSN Selling shop. My method was to wait until someone showed interest in a name (who would post on the thread or PM me) and THEN start the auction.

Is this still allowed? If not, I think the rules should be tweaked so it is.


EDIT: I think we should use the reserve method that I saw somewhere. This is where you have a starting bid and a autowin, and a reserve price. If by the time of the auction ending the price hasn't hit the reserve price yet, the seller doesn't have to sell. The seller has previously sent the reserve price to WagerHost.

And yes I think that it's fair that the auction officially starts right after the first offer or interest has been made.

Also a no for the reserve price as that is easily abused.
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Re: Rules on Auctioning Names

Post by Heartstop123 on 11/9/2012, 4:11 am

People are going to set insane minimum prices and no names will be sold. Bad rule.
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Re: Rules on Auctioning Names

Post by Obbyshaggz on 11/9/2012, 7:19 am

I Agree with this rule, Seems fair as the whole point of an auction is to sell the name for Whatever the bids reach up too. That's the whole point of an auction anyways Lol
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Re: Rules on Auctioning Names

Post by Daxaal on 11/9/2012, 11:18 am

So is winning auctions now the only way to get a name?
What about name shops why aren't they allowed to sell their names anymore why must it be auctioned? There were some good ones out their like these shops
http://www.smokinelite.com/t62865p30-adri-s-display-name-shop
http://www.smokinelite.com/t66280-fire-s-rsn-shop
http://www.smokinelite.com/t66306-namestop-buy-sell-names-here
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Re: Rules on Auctioning Names

Post by WagerHost on 11/9/2012, 3:19 pm

Daxaal wrote:So is winning auctions now the only way to get a name?
What about name shops why aren't they allowed to sell their names anymore why must it be auctioned? There were some good ones out their like these shops
http://www.smokinelite.com/t62865p30-adri-s-display-name-shop
http://www.smokinelite.com/t66280-fire-s-rsn-shop
http://www.smokinelite.com/t66306-namestop-buy-sell-names-here

You can still do that just put a starting bid and auto win at the same price o.o
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Re: Rules on Auctioning Names

Post by Fire on 11/9/2012, 11:04 pm

I agree with Heartstop.

Another thing - could the vouch requirement be lessened? I'm one of the more highly trusted public members, but with 22 vouches I fall short of the requirement. Maybe revise it so that it is either 30 vouches OR something else? (ie 20 vouches + 100+ reps, or amount of time since forum registration, etc)

In the Services forum, people with 20+ vouches are often trusted with far more than most of these names are selling for. Maybe have something like a minimum vouch requirement for different prices? For instance:
-To sell a name with an autowin at 10m or less, you need 10 vouches
-To sell a name with an autowin at 20m or less, you need 15 vouches
...
-To sell a name with an autowin of 100m-200m, you need 30vouches
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Re: Rules on Auctioning Names

Post by WagerHost on 17/9/2012, 3:35 am

Fire wrote:I agree with Heartstop.

Another thing - could the vouch requirement be lessened? I'm one of the more highly trusted public members, but with 22 vouches I fall short of the requirement. Maybe revise it so that it is either 30 vouches OR something else? (ie 20 vouches + 100+ reps, or amount of time since forum registration, etc)

In the Services forum, people with 20+ vouches are often trusted with far more than most of these names are selling for. Maybe have something like a minimum vouch requirement for different prices? For instance:
-To sell a name with an autowin at 10m or less, you need 10 vouches
-To sell a name with an autowin at 20m or less, you need 15 vouches
...
-To sell a name with an autowin of 100m-200m, you need 30vouches

Your asking the requirement to be lessened to specifically benefit yourself. Also for the minimum vouch requirement, that would be far too complicated.
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Re: Rules on Auctioning Names

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