GoDrops.com Drop Auctions!

Today I’d like to try something different. I’ve been scratching my head overnight about how to do auctions during the Live Chat + Drop. It inevitably happens: two or more people see a name that HAVE to HAVE, but only one, of course, can eventually register it.

I’d like to figure out some rules for running an auction during the chat… here’s what I’ve come up with so far and I’d like to try it out during drop today:

• 2 or more GoDroppers vote to hold an auction for one domain
• The auction starts immediately
• All auctions start at $1 with a reserve of $10
• Bid increases are set at $1 or more
• Anyone may participate in an auction
• No PM offers, all offers must be in the public chat record
• Auctions end with a 1) going once… 2) going twice… 3) and… 4) sold!
• Payment to be agreed upon by the seller and winner by PM (Private Message)

I think these rules make sense… let me know if you think this is absurd or crazy! The goal these auctions is to:

• only hold an auction on domains people are actually interested in
• start auctions quickly
• end them quickly