Moniker Streamlines Auction Submission Process
No more e-mailing spreadsheets; Moniker enables online auction submissions.
Anyone who has submitted a domain name to Moniker for inclusion in its auctions knows how much of a pain it can be. You have to fill out lots of data on a spreadsheet and send it into your account representative. Then you have to fill out and fax in a contract.
Today, Moniker disclosed a fresh online submission process for auctions that significantly reduces the time and headaches. Here’s how it works:
1. Go to marketplacepro.moniker.com/auction/index.html
2. Select an auction from the list.
3. Link your Moniker account to your SnapNames account:
3. Download a simple spreadsheet and enter your names. At minimum you need to fill in the domain name, reserve price, and category. That’s only three columns, compared to what seemed like a dozen in the past.
4. Upload the spreadsheet and accept the terms (see discussion below):
5. Your domains are now submitted and you can view and print a confirmation:
Ahead of you submit your domains you ought to read the terms, as they are fairly strict. First of all, there’s a 15% sales commission, which is entirely reasonable. But you’re also agreeing to an exclusive term that you need to be aware of. Moniker will have exclusive rights to sell the domain name for the latter of 120 days from when you submit the domain or 60 days following the auction. If you sell the domain elsewhere during that time you will need to compensate Moniker 15% of the sales price.
Although exclusivity periods are common, there’s a kicker in Moniker’s terms that I don’t like: the exclusivity period automatically renews if you don’t notify Moniker in writing 15 days ahead of it expires. You’ll need to put a reminder on your calendar to do this, and there’s no simple way to do it via an online control panel.
To expedite the closing and transfer of domains, domain names selected for auction must be transferred to Moniker prior to the auction. If you don’t do this and the domain sells, there’s a $100 processing fee. So if your domain is selected and you’re reasonably confident it will sell, it makes sense to transfer it ahead of the auction.
