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{{CompanyInfo|

{{CompanyInfo|

| logo            = Innovative auctions logo.png

| logo            = Applicant_auction.png

| type            =  

| type            =  

| industry        =  

| industry        =  

| founded        = 1993

| founded        = 2013

| founders        =  

| founders        =  

| ownership      =  

| ownership      =  

| headquarters    =  

| headquarters    =  

| country        = USA

| country        = Hong Kong

| businesses      =  

| businesses      =  

| products        =  

| products        =  

| linkedin        =  

| linkedin        =  

| twitter        =  

| twitter        =  

| keypeople      = [[Peter Cramton]], Chairman<br>

| keypeople      = [[Ulrich Gall]] - Founder<br>

[[Ulrich Gall]], Director<br>

[[Lindsay Holden]] - Business Development<br>

[[Lindsay Holden]], Director<br>

[[Sheel Mohnot]] - Business Development<br>

[[Sheel Mohnot]], Project Director

[[Ben Hanna]] - Operations<br>

[[Peter Cramton]]<br>

}}

}}

'''Innovative Auctions''' specializes in providing advice on auction and market design for multiple industries in many different countries. They are the only group that has resolved gTLD contention sets via private auction. Their auction was designed by [[Peter Cramton]], who is a lead expert on auction design and strategy. The firm is offering [[gTLD Auctions|gTLD auction]] services to applicants in contention in [[ICANN]]'s [[New gTLD Program]].

'''Innovative Auctions''' (IAL) is a Hong Kong based company that specializes in providing advice on auction and market design for multiple industries in many different countries. The firm is offering [[gTLD Auctions|gTLD auction]] services to applicants in contention in [[ICANN]]'s [[New gTLD Program]]. Their auction was designed by [[Peter Cramton]], a leading expert on auction design and strategy.

 

==ICANN New gTLD Auctions==

==ICANN New gTLD Auctions==

In response to the need to determine winners of contention sets for each TLD applied for by more than one applicant, numerous companies have offered their own models [[gTLD Auctions|gTLD auction models]] in contrast to ICANN's private auctions, which are by definition a last resort. Innovative Auctions has designed a private auction, competing with [[Sedo]] and [[Right of the Dot]]. All three groups offer slight variations on implementation and services but share commonalities in their proposed models. In all cases, the winner will pay the amount of the second-highest bid, and money will be split either equally or proportionally between the losers, so that all applicants receive a percentage of their initial investment back.<ref name="worldipreview">[http://www.worldipreview.com/newsstory.asp?ID=46 New gTLD applicants ponder private auctions], WorldIPreview.com. Published 14 November 2012. Retrieved 6 December 2012.</ref> All applicants must agree to participate in a private auction model in order for it to proceed; otherwise, the contention set will be managed via ICANN's auction system, in which all proceeds go to ICANN as "excess funds" that will be allocated at a later date.<ref>[http://www.slate.com/articles/technology/future_tense/2012/11/icann_s_gtld_auction_proceeds_should_be_used_to_bring_mesh_technologies.html ICANN, Make a Difference], Slate.com. Published 27 November 2012. Retrieved 6 December 2012.</ref>

Numerous companies have offered their own models [[gTLD Auctions|gTLD auction models]] for resolving contention among multiple applicants for the same TLD. ICANN, whose auctions are by definition a last resort, has encouraged parties to resolve contention themselves. Innovative Auctions has designed a private auction, competing with [[Sedo]] and [[Right of the Dot]]. All three groups offer slight variations on implementation and services but share commonalities in their proposed models. In all cases, the winner will pay the amount of the second-highest bid, and money will be split either equally or proportionally between the losers.<ref name="worldipreview">[http://www.worldipreview.com/newsstory.asp?ID=46 New gTLD applicants ponder private auctions], WorldIPreview.com. Published 14 November 2012. Retrieved 6 December 2012.</ref> All applicants for each contention set must agree to participate in order for a private auction to proceed; otherwise, the contention set will be managed via ICANN's auction system, in which all proceeds go to ICANN as "excess funds" that will be allocated at a later date.<ref>[http://www.slate.com/articles/technology/future_tense/2012/11/icann_s_gtld_auction_proceeds_should_be_used_to_bring_mesh_technologies.html ICANN, Make a Difference], Slate.com. Published 27 November 2012. Retrieved 6 December 2012.</ref>

During [[ICANN 45]] in Toronto, [[Peter Cramton]] outlined an "ascending clock" model, where a price is increased by the auctioneer at each stage; bidders and sellers can then either drop out or bid on the increased amount.<ref name="domainincite">[http://domainincite.com/10828-heres-how-donuts-wants-to-resolve-its-158-new-gtld-contention-fights Here's how Donuts wants to resolve its 158 new gTLD contention fights]. Domain Incite. Published 2012 October 23. Retrieved 2012 November 13.</ref> This model is also preferred by [[Right of the Dot]], though it has also proposed "sealed bid" and "live auction" models. In a sealed bid model, applicants securely send money via a courier and packages are stored in a safe place until they are opened at the auction session.<ref name="worldipreview"></ref>

During [[ICANN 45]] in Toronto, [[Peter Cramton]] outlined an "ascending clock" model, where a price is increased by the auctioneer at each stage; bidders and sellers can then either drop out or bid on the increased amount.<ref name="domainincite">[http://domainincite.com/10828-heres-how-donuts-wants-to-resolve-its-158-new-gtld-contention-fights Here's how Donuts wants to resolve its 158 new gTLD contention fights]. Domain Incite. Published 2012 October 23. Retrieved 2012 November 13.</ref> This model is also preferred by [[Right of the Dot]], though it has also proposed "sealed bid" and "live auction" models. In a sealed bid model, applicants securely send money via a courier and packages are stored in a safe place until they are opened at the auction session.<ref name="worldipreview"></ref>

Innovative Auctions Limited (the group using the Auction model proposed by Peter Cramton) have secured their fees at 1% for the first round and 4% for subsequent rounds. The first round took place in June and 6 contention sets were settled for a total of $9.01M .<ref name="applicantauction">[http://www.applicantauction.com/blog/2013/6/19/first-applicant-auction-settled-next-auction-august-13th FIRST APPLICANT AUCTION SETTLED, NEXT AUCTION AUGUST 13TH]. Applicant Auction. Published 2013 June 19. Retrieved 2013 July 10.</ref>.

Innovative Auctions has secured its fees at 1% for the first round and 4% for subsequent rounds. The first round took place in June and 6 contention sets were settled for a total of $9.01M .<ref name="applicantauction">[http://www.applicantauction.com/blog/2013/6/19/first-applicant-auction-settled-next-auction-august-13th FIRST APPLICANT AUCTION SETTLED, NEXT AUCTION AUGUST 13TH]. Applicant Auction. Published 2013 June 19. Retrieved 2013 July 10.</ref> To date, the Applicant Auction has resolved contention for over 70 gTLDs.<ref>[http://www.applicantauction.com/ ApplicantAuction.com] Retrieved 01 Dec 2014</ref> In the first two auctions (comprising 14 strings), the total sales price was $18.6 million; results from subsequent auctions have not been disclosed.<ref>[http://www.newyorker.com/tech/elements/the-great-internet-land-grab The Great Internet Land Grab] ''The New Yorker'', www.newyorker.com, Retrieved 01 Dec 2014</ref>

[[Peter Cramton|Dr. Cramton]] has conducted research on auction theory and practice since 1983, and has facilitated a variety of high stakes auctions, including a large variety of government auctions for resource rights and distribution rights, with Cramton Associates.<ref>[http://www.cramton.umd.edu/ca/ About, Cramton.umd.edu/ca]</ref> Highlights from his high-profile and unique auction experience includes holding the world's first auction on greenhouse gas emissions in the UK in 2002, designing electricity and gas markets in Colombia, and leading the FAA process to auction airport runway slots for New York City airports.<ref name="Cramton Home">[http://www.cramton.umd.edu/ca/ Home, Cramton.umd.edu/ca]Retrieved 7 Jan 2013]</ref>

[[Peter Cramton|Dr. Cramton]] has conducted research on auction theory and practice since 1983, and has facilitated a variety of high stakes auctions, including a large variety of government auctions for resource rights and distribution rights, with Cramton Associates.<ref>[http://www.cramton.umd.edu/ca/ About, Cramton.umd.edu/ca]</ref> Highlights from his high-profile and unique auction experience includes holding the world's first auction on greenhouse gas emissions in the UK in 2002, designing electricity and gas markets in Colombia, and leading the FAA process to auction airport runway slots for New York City airports.<ref name="Cramton Home">[http://www.cramton.umd.edu/ca/ Home, Cramton.umd.edu/ca]Retrieved 7 Jan 2013]</ref>

Innovative Auctions' model is preferred by [[Donuts]], the largest [[TLD]] applicant.<ref>[http://domainincite.com/10828-heres-how-donuts-wants-to-resolve-its-158-new-gtld-contention-fights Here's How Donuts Wants To Resolve its 158 Contention Fights, DomainIncite.com]Published 23 Oct 2012, Retrieved 8 Jan 2013</ref> [[TLDH]] has also signed on to participate in private auctions with Innovative Auctions, settling contention for four gTLDs in the August 2013 Applicant Auction<ref>[http://www.tldh.org/2013/08/first-private-auction-and-%e8%b4%ad%e7%89%a9-update/ First private auction and .购物 update]Published September 2013</ref>. [[Raymond King]], applicant for 10 TLDs with [[Top Level Design]] expressed his support for Private Auctions in general, and Innovative Auctions specifically, in an [http://www.circleid.com/posts/20130102_private_vs_icann_auction_of_last_resort/ opinion piece on CircleID]. Several other parties have also expressed that they participate in IAL's Applicant Auction model, including [[Demand Media]]<ref>[http://unitedtld.com/blog/o74geglafca7inqzxq4r1hy7v944ii Readying for the First Private gTLD Applicant Auction]</ref> and [[.CLUB_Domains_LLC]]<ref>[http://dotclubregistry.wordpress.com/2013/05/29/club-domains-llc-set-to-particpate-in-private-auction-for-the-new-top-level-domain-club-company-raises-3-5-million-financing/ .club Domains headed to private auction for new gTLD .club</ref>.

 

Innovative Auctions' model is preferred by the largest [[TLD]] applicant, [[Donuts]].<ref>[http://domainincite.com/10828-heres-how-donuts-wants-to-resolve-its-158-new-gtld-contention-fights Here's How Donuts Wants To Resolve its 158 Contention Fights, DomainIncite.com]Published 23 Oct 2012, Retrieved 8 Jan 2013</ref> [[Raymond King]], applicant for 10 TLDs with [[Top Level Design]] expressed his favor for Private Auctions in general, and Innovative Auctions specifically in an [http://www.circleid.com/posts/20130102_private_vs_icann_auction_of_last_resort/ opinion piece on CircleID]. Several other parties have also expressed that they will use the model designed by Cramton, including [[.CLUB_Domains_LLC]]<ref>[http://dotclubregistry.wordpress.com/2013/05/29/club-domains-llc-set-to-particpate-in-private-auction-for-the-new-top-level-domain-club-company-raises-3-5-million-financing/ .club Domains headed to private auction for new gTLD .club</ref> and [[Demand Media]]<ref>[http://unitedtld.com/blog/o74geglafca7inqzxq4r1hy7v944ii Readying for the First Private gTLD Applicant Auction]</ref>

==References==

==References==

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