Its finally here. After what I assume must have been a lot of work for RJ & the rest of the auction team, an entirely new live auction system has been introduced at NamePros.

How it works: List your domain, domain goes into a  ‘Silent Auction’ where people can prebid on it. Once 50% of reserve is met via prebids the domain goes into Live Auction. Hopefully this will ensure that only quality names that people are willing to bid on get into the Live Auction, which are to be held twice a month.

5% transaction fee with a $5 min., so don’t put $1 as the reserve unless you’re really confident that the close price will justify the $5 min.

Here’s the info from NP itself:

List your domain for sale in the NamePros Live Auction

All NamePros members in good standing can receive a free listing in our live auction. The NamePros Live Auction is held twice monthly and features domains for sale in a dynamic online event hosted by a live auctioneer team. The final value fee for sellers is only 5% with a $5 minimum payable after a successful transaction.

The following types of domains may not be sold at live auction:

* Explicit adult names

* Sub-domains or non-standard domains

* Domains expiring in less than 30 days, unless renewal is to be included.

* IDN domain namess are permitted if they are identified as IDN with the punycode in the description.

A reserve price is required for all auction lots. If winning bid meets or exceeds your reserve price, it is considered a binding contract that is expected to be completed within seven (7) days of the live auction event.

Using a reasonable reserve price is strongly recommended. Potential bidders will be shown a general indication of your reserve range. For example: Mid $xxx, High $xxxx, Low If you wish to make the exact reserve known to bidders you can include it in the description.

NamePros auctions feature a $5 minimum bid and a $5 minimum reserve with a $5 minimum value fee due after a successful sale. Reserves of $5 are an excellent way to encourage bidding and qualify your domain for live auction, but be mindful that the final auction results will be binding.

What happens after you submit your name? Your auction lot is immediately entered into our silent auction. The silent auction is a queue of domains that allows interested buyers to bid prior to the live auction. A domain becomes eligible for the next live auction when it receives a verified bid within 50% of the seller’s reserve. Final value fee is due seven days after successful live auction sale and must be paid before participating in future events. Buyers and sellers that do not complete deals will receive negative feedback and be barred from future participation.

Great news tbh, hopefully will provide some much needed liquidity for domainer to domainer sales. Cheers!