Tips to Run a Successful (Large) Private Auction on a Platform Like Sedo
Last week, I wrote about the ongoing Brands-and-Jingles .ME Auction at Sedo. I think it’s quite smart to work with a company like Sedo (or a competitor like Aftermarket.com) to hold a large auction event like this because it will bring interested buyers who may end up buying more than one domain name. It will almost certainly generate more revenue than individual listings at an aftermarket website.
If you think you have a good enough group of domain names to run a private auction on a platform like Sedo or Aftermarket.com I want to share some tips on how you can drive traffic to your auction and generate additional revenue.
- Advertise on Domaining.com. Many people who are active in the domain industry reading Domaining.com on a daily basis. If you have a sponsored post listing the top names from your auction, it will almost certainly add revenue if your prices are fair. I think the cost is $150/day, and I have found it to be well worth the cost.
- Send out a press release. I think most people who have blogs receive Google Alerts when press releases and news stories are posted with domain name news in them. If we receive a press release for a notable auction, it will probably be posted in an article.
- Post in forums. Many people who invest in domain names read domain forums like DNForum, Domain Boardroom, and NamePros every day. Start a thread about your auction and mention some of the better names. Be prepared for positive and negative feedback. It comes with the territory.
- Advertise on blogs. There are quite a few excellent blogs, and I am sure some allow short-term advertising at great rates. Reach out to blog owners and ask for the rates.
- Have the auction house email buyers. Most auction houses have lists of potential buyers, especially if it’s a niche auction like .ME, .TV, .CO…etc. Ask them to send their buyers an email to notify them of the upcoming auction.
- Email potential end user buyers. Let these end user buyers know about your auction and be sure to instruct them on how to sign up, when to sign up, and how to bid. Put them in touch with the auction house. Don’t make assumptions like the auction house will get in contact with them. Send an introduction email to the buyer and your account representative and then send a follow up to make sure they connected.
I think the key to running an auction is making the right people aware of the auction and telling them how they can participate. If you have any tips to add, I welcome them in the comment section below.