GTLD Auctions: Difference between revisions
| Line 40: | Line 40: | ||
Right of the Dot suggests three models, though it stresses that it is a flexible consultancy with experience to work out unique remediation processes as well. The three auction models are an ascending clock model, a sealed bid, and a live auction. An ascending clock model, is they type to be used by [[ICANN]] in its last resort auctions and the only model offered by competitive provider [[Cramton Associates]]. Right of the Dot recommends the sealed bid auction, which sees each applicant submitting a sealed bid, the highest bidder wins and pays the amount of the second highest bid. It also recommends that the proceeds are not distributed evenly but proportionate with the bid made by each loser.<ref name="CircleID Article">[http://www.circleid.com/posts/20130122_contention_is_best_settled_by_those_who_know_the_players_industry/ Contention is Best Settle By Those Who Know the Players Industry, CircleID.com] Published Jan 22, Retrieved Jan 24</ref> Live auctions are held in real time as bidders shout out or submit electronic bids. One of Right of the Dot's overall goals is to offer applicants "flexibility", and cater to the "desires of the participants".<ref name="CircleID Comments">[http://www.circleid.com/posts/20130102_private_vs_icann_auction_of_last_resort/ Comments by Mike Berkens, Private vs. ICANN Auction of Last Resort, CircleID.com]Posted jan 2 2013, Retrieved Jan 7 2013</ref> In comments on a [http://www.circleid.com/posts/20130102_private_vs_icann_auction_of_last_resort/ CircleID Post] by [[New gTLD Program|new gTLD applicant]] [[Raymond King]], Mike Berkens of Right of the Dot claims that their main opponent, [[Cramton Associates]], is restrictive, writing: "the other auction solution is offered only during highly restricted time frames, and in a highly restricted manner, which we think was designed in mind with the those with largest number of applications." He goes on to say: "We believe that other auction solutions are overly complex and overbearing [which] we believe is more subject to game playing and over paying by winning bidders. We think each auction should stand on its own; each participant should know what their fees will be based on their own auction(s) not be based off auctions they are not participating in; and most importantly should be held at the time and in the manner in which the applicants to each string desire." Their flexibility is extended to the point that Right of the Dot offers to design unique auctions if requested by the applicants.<ref name="ROTD About">[http://rightofthedot.com/gtld-contention/ gTLD Contention RightOfTheDot.com]Retrieved 7 Jan 2013</ref> | Right of the Dot suggests three models, though it stresses that it is a flexible consultancy with experience to work out unique remediation processes as well. The three auction models are an ascending clock model, a sealed bid, and a live auction. An ascending clock model, is they type to be used by [[ICANN]] in its last resort auctions and the only model offered by competitive provider [[Cramton Associates]]. Right of the Dot recommends the sealed bid auction, which sees each applicant submitting a sealed bid, the highest bidder wins and pays the amount of the second highest bid. It also recommends that the proceeds are not distributed evenly but proportionate with the bid made by each loser.<ref name="CircleID Article">[http://www.circleid.com/posts/20130122_contention_is_best_settled_by_those_who_know_the_players_industry/ Contention is Best Settle By Those Who Know the Players Industry, CircleID.com] Published Jan 22, Retrieved Jan 24</ref> Live auctions are held in real time as bidders shout out or submit electronic bids. One of Right of the Dot's overall goals is to offer applicants "flexibility", and cater to the "desires of the participants".<ref name="CircleID Comments">[http://www.circleid.com/posts/20130102_private_vs_icann_auction_of_last_resort/ Comments by Mike Berkens, Private vs. ICANN Auction of Last Resort, CircleID.com]Posted jan 2 2013, Retrieved Jan 7 2013</ref> In comments on a [http://www.circleid.com/posts/20130102_private_vs_icann_auction_of_last_resort/ CircleID Post] by [[New gTLD Program|new gTLD applicant]] [[Raymond King]], Mike Berkens of Right of the Dot claims that their main opponent, [[Cramton Associates]], is restrictive, writing: "the other auction solution is offered only during highly restricted time frames, and in a highly restricted manner, which we think was designed in mind with the those with largest number of applications." He goes on to say: "We believe that other auction solutions are overly complex and overbearing [which] we believe is more subject to game playing and over paying by winning bidders. We think each auction should stand on its own; each participant should know what their fees will be based on their own auction(s) not be based off auctions they are not participating in; and most importantly should be held at the time and in the manner in which the applicants to each string desire." Their flexibility is extended to the point that Right of the Dot offers to design unique auctions if requested by the applicants.<ref name="ROTD About">[http://rightofthedot.com/gtld-contention/ gTLD Contention RightOfTheDot.com]Retrieved 7 Jan 2013</ref> | ||
Further options that the team will facilitate include giving the proceeds of the auction to a third party charity.<ref name="CircleID Article"</ref> | Further options that the team will facilitate include giving the proceeds of the auction to a third party charity.<ref name="CircleID Article"></ref> | ||
Right of the Dot has partnered with [[Escrow.com]] to facilitate their auctions. The auction fees begin at 4% and depend on the auction model selected.<ref name="ROTD About"></ref> | Right of the Dot has partnered with [[Escrow.com]] to facilitate their auctions. The auction fees begin at 4% and depend on the auction model selected.<ref name="ROTD About"></ref> | ||