1. Introduction
Welcome to the Atom.com Domain Auction Platform. By participating in our auctions, you agree to be bound by the following auction-specific terms and conditions, as well as Atom.com’s general Platform Terms & Conditions. These terms apply to all participants (bidders and sellers) in the auction marketplace and govern the use of our platform.
2. Definitions
Auction: A timed event where a domain name is offered for sale to the highest bidder or through a price-drop system.
Forward Only Auction: A traditional auction format where bidding progresses only in an upward direction from the starting bid amount.
Forward + Reverse Auction: A dual-format auction starting with a traditional forward auction. If no bids are received, the auction transitions to a reverse format with daily price drops.
Reserve Price: The minimum price at which the seller agrees to sell the domain name.
Bid: A monetary offer made by a bidder in an auction.
Bidder: Any user who places a bid in an auction.
Seller: The owner of the domain who lists it for sale via the auction platform.
Proxy Bid: An automated system that bids incrementally on a bidder's behalf up to their maximum limit, keeping them in the lead at the lowest possible price.
3. Eligibility and Approval to Participate
To participate in Atom.com domain auctions, all users must:
Be at least 18 years of age.
Have a verified Atom.com account in good standing.
Be approved by Atom.com to participate in auctions. Approval is at Atom.com’s sole discretion, and approval requirements may vary by user.
In some cases, Atom.com may require an advanced deposit from bidders before allowing participation in auctions.
Atom.com may request users to verify their identity using a third-party online identity verification service.
4. Auction Types and Process
4.1 Auction Types
Forward Only Auction:
Bidding progresses only in an upward direction from the starting bid.
The domain will remain unsold if the reserve price is not met by the auction’s end.
Forward + Reverse Auction:
This auction starts as a traditional forward auction (with a minimum starting bid ranging from $10 to $50)
If the domain receives no bids within the set forward auction period, it automatically converts to a reverse auction format.
4.2 Forward + Reverse Auction Process
Reverse Auction Conversion:
If no bids are received in the forward phase, the auction switches to a reverse format with daily price reductions.
Daily Price Drop:
The Reverse auction starts at $50 on the first day. The domain price will decrease by $10 each day, creating an incentive for bidders to purchase at any point.
Reverse Auction Termination:
The reverse auction continues until the price drops to a minimum of $10.
If the domain is not purchased at or above $10, the auction will close, and the domain will remain unsold.
5. Bidding Rules
5.1 Placing a Bid
Bidders must meet the minimum bid increment in Forward Only auctions to place a valid bid.
In Forward + Reverse auctions, the domain can be purchased at any point in the reverse phase at the current listed price.
If a bid is placed within the final 10 minutes of an auction, the auction end time will automatically extend by an additional 60 minutes to accommodate active bidding.
All bids placed are binding and cannot be withdrawn once submitted.
Atom.com reserves the right to remove or disqualify any bids suspected of violating platform policies or engaging in bidding manipulation.
5.2 Proxy Bidding
Bidders may choose to use the proxy bidding option, which automatically raises their bid to outbid other participants up to a maximum amount they have set.
Proxy bidding operates in line with minimum bid increments and the fixed reserve price.
5.3 Prohibition of Shill Bidding
Shill bidding, defined as creating multiple accounts or otherwise colluding to artificially inflate the auction price, is strictly prohibited.
Users found engaging in shill bidding will be permanently banned from the Atom.com platform and may face legal action.
Atom.com reserves the right to monitor and investigate bidding patterns to prevent shill bidding and protect auction integrity.
Atom.com reserves the sole discretion to take actions, including suspensions or termination of accounts, in response to suspected or actual bidding violations. Such actions may be enforced without the need for prior notice, justification, or proof.
5.4 Sellers Bidding on Atom-Registered Domains
For Atom.com-registered domains, the original sellers may bid on their own domain names if they wish to transfer domain ownership from Atom.com to themselves.
In the event that the seller wins the auction for their domain, they will still be eligible to receive a commission on the final sale price according to their commission eligibility.
6. Winning and Payment
6.1 Winning the Auction
In Forward Only auctions, the highest bid at the close of the auction will be deemed the winning bid, provided it meets or exceeds the reserve price.
In Forward + Reverse auctions, a bidder can win by purchasing the domain at any point in the reverse auction phase at the listed price.
Atom.com will notify the winning bidder and facilitate the transfer of ownership upon receipt of payment.
6.2 Payment Terms
The winning bidder has 72 hours from the close of the auction to make the payment for the winning bid.
If the winning bidder fails to make payment within 72 hours, the domain will be offered to other auction participants, who have 24 hours to purchase it at the winning bid price.
Failure to make payment within the time allotted by the winning bidder is a violation of Atom.com’s terms, and may result in penalties, suspension from future auctions, and potential legal action.
7. Seller Obligations
7.1 Listing Accuracy
Sellers are responsible for providing accurate and complete information about the domain, including ownership verification and any relevant terms or restrictions.
7.2 Fulfillment and Transfer
Upon payment notification, sellers must complete the domain transfer process within 72 hours to the winning bidder.
7.3 Reserve Price
In some cases, Sellers may set a fixed reserve price before the auction begins. This reserve price cannot be changed once the auction starts.
7.4 Requirement of Transfer
By initiating a Forward + Reverse Auction, you agree to transfer the domain to the winning bidder. The final bid in this auction will not be lower than $10.
By initiating a Forward Only Auction, you agree to transfer the domain to the winning bidder. The final bid will meet or exceed the floor price if one was established before the auction began.
8. Fees, Commissions, and Refunds
8.1 Auction Fees
Atom.com does not charge any listing fees for auctions.
8.2 Commissions
Atom.com charges a commission of 10% on the final auction price or closeout purchase price, with a minimum commission of $3.
For Atom.com-registered domains, the original seller will receive a commission based on the original commission rules. For example, if a seller is eligible for a 25% commission and the auction closes at $100, the seller will receive $25, and the domain ownership will be transferred to the auction winner.
8.3 Refunds
All sales are final. Refunds will only be issued in the event the seller is unable to transfer the domain to the auction winner (which is against our Auction Terms).
9. Auction Termination
9.1 Termination Rights
Atom.com reserves the right to cancel or terminate any auction at its discretion, especially in cases of suspected fraud, technical malfunctions, or violations of these terms or Atom.com’s Platform Terms & Conditions.
Additionally, Atom.com may cancel an auction if the domain being auctioned is sold to a retail buyer through the retail marketplace