Changes

Cramton's original model proposed to run auctions during the first quarter of 2013, before ICANN announced the results of their Initial Evaluation. Such a model would allow losing bidders to receive 70% back from their ICANN application fee, but would pose difficulties if winning applicants later discovered their applications were rejected. Other applicants will have withdraw already, and the new gTLD would be left without an owner. The former model also lumped all TLDs that an individual applicant had applied for in one package. Criticisms stating that such a model would benefit larger companies led to a change, so that auctions will now proceed on a TLD-by-TLD basis, with all auctions being simultaneously resolved at the same time.<ref name="domainincite"></ref>

Cramton's original model proposed to run auctions during the first quarter of 2013, before ICANN announced the results of their Initial Evaluation. Such a model would allow losing bidders to receive 70% back from their ICANN application fee, but would pose difficulties if winning applicants later discovered their applications were rejected. Other applicants will have withdraw already, and the new gTLD would be left without an owner. The former model also lumped all TLDs that an individual applicant had applied for in one package. Criticisms stating that such a model would benefit larger companies led to a change, so that auctions will now proceed on a TLD-by-TLD basis, with all auctions being simultaneously resolved at the same time.<ref name="domainincite"></ref>

Applicants also have to decide on when they wish to enter into private auctions. Those who withdraw their applications before ICANN posts its Initial Evalution results will receive a 70% refund of their $185,000 application fee; those who wait until after the IE stage will only receive a 35% refund.<ref name="worldipreview"></ref>

Applicants also have to decide on when they wish to enter into private auctions. Those who withdraw their applications before ICANN posts its Initial Evaluation results will receive a 70% refund of their $185,000 application fee; those who wait until after the IE stage will only receive a 35% refund.<ref name="worldipreview"></ref>

Benefits of the private auction model include the following:<ref name="circleid">[http://www.circleid.com/posts/20121203_gtld_contention_set_auctions_private_auction_alternatives/ gTLD Contention Set Auctions: Private Auction Alternatives], CircleID.com. Published 3 December 2012. Retrieved 6 December 2012.</ref>

Benefits of the private auction model include the following:<ref name="circleid">[http://www.circleid.com/posts/20121203_gtld_contention_set_auctions_private_auction_alternatives/ gTLD Contention Set Auctions: Private Auction Alternatives], CircleID.com. Published 3 December 2012. Retrieved 6 December 2012.</ref>