P2P Auctions went Live this morning

[OthirMan]

Knowledge Base

--- https://community.secondlife.com/knowledgebase/english/creating-your-own-auctions-r1514/

[Lisa006 Baxton]

Hopefully LL will release an official announcement about it today! Thank you for the heads up. 

Edited February 26, 2019 by Lisa006 Baxton

[Alyona Su]

1 hour ago, OthirMan said:

Knowledge Base

--- https://community.secondlife.com/knowledgebase/english/creating-your-own-auctions-r1514/

Possibly. They often write those ahead of when it goes live.

[Gabriele Graves]

Interesting.  Considering you cannot auction the land as a group and the land transfers to a LL holding account for the duration of the auction, I wonder what happens to your tier during that time.  Does it become freed up or stay allocated?  If the former, it makes me wonder what would happen once the land is transferred back to you if the auction ends and it didn't sell but you already used your tier for something else.  Tier up or fail to hand it back?  Having the tier stay allocated would seem to make more sense.

I notice that you can only auction for a maximum of a week too, considering how long it can take to shift land, this could result in lots of relistings.

15% commision seems a lot for an auction too.

[Inara Pey]

Having noticed this myself and blogged on it, Alexa Linden tapped me to inform me the user-to-user auctions are not officially live as yet, but still undergoing final testing.

[Ethan Paslong]

don't schedule the party yet.. if it's done at the Linden way it might be broken before its running.
 

[Alyona Su]

On 2/26/2019 at 11:55 AM, Gabriele Graves said:

Interesting.  Considering you cannot auction the land as a group and the land transfers to a LL holding account for the duration of the auction, I wonder what happens to your tier during that time.  Does it become freed up or stay allocated?  If the former, it makes me wonder what would happen once the land is transferred back to you if the auction ends and it didn't sell but you already used your tier for something else.  Tier up or fail to hand it back?  Having the tier stay allocated would seem to make more sense.

I notice that you can only auction for a maximum of a week too, considering how long it can take to shift land, this could result in lots of relistings.

15% commision seems a lot for an auction too.

Tier is calculated on a monthly basis and unless you schedule an auction where it is in play across your normal due date, then I would *presume* - if the land sells then you will not be responsible for the tier after the fee-renewal date (the following month.) If it does not sell then, well, you own land again when it is transferred back to you and will have to pay the tier for that month.

15% is not enough. It should be 25%. To keep the land-flippers in check. But then again, seeing so many Yellow Blocks all over the grid (and some are actually very nice and not too pricey) I suppose that 15% is just fine; I think the land barons are, well... struggling already.

I like how ownership of the land is transferred to an LL bot (It's Escrow - just like RL) and 15% take is just fine as it is - these are all to help prevent "abuse" of the system.

Here's something else that you (everyone) may not realize: in order to have a Places page for your land, you must turn ON the "Show in Search" option and that is L$30 a week. If you don't turn that on then your Places Page will not function, and you will need a Places page to auction your virtual land away. I *LIKE* this.

I *DO* have a Places page. So if I see any buttons allowing me to auction my place (hell no, I *LOVE* my place) - it will mean the system is definitely live. I'll post that update here if no one else does before me.

Edited February 27, 2019 by Alyona Su

[Sarahbuxso]

What is wrong with being a flipper as appose to a land lord, there is no difference Alyona we all pay the same amounts, all of us. 

[ItHadToComeToThis]

5 hours ago, Sarahbuxso said:

What is wrong with being a flipper as appose to a land lord, there is no difference Alyona we all pay the same amounts, all of us. 

Usually because "flippers" set the price at like 15-100+ lindens psqm. Its part of the reason I don't ever really buy mainland.

I would love to purchase a mainland full sim and reap the benefits of the lower tier, however, at 200-500k lindens and thats before I start paying the tier. I don't think so. I can rent a full sim privately for 14-15k a week. For the initial purchase price on most of the full sims I can pay from a few months to over a years worth of tier. And thats usually before you even get in to the cost of water sims.

Even smaller parcels suffer from it. I saw a 1024 on that auction last night for 15k..nothing special about it, no water, land locked..15k..land flippers are a cancer on mainland.

Edited March 27, 2019 by ItHadToComeToThis

[Alyona Su]

14 hours ago, Sarahbuxso said:

What is wrong with being a flipper as appose to a land lord, there is no difference Alyona we all pay the same amounts, all of us. 

Maybe. But if you go with auctioning, you also have to pay the 30L per week List in Search fee. Will land-barons also suck that up, too? LOL Also - the buyer market will shift as more and more people learn about the auction option. Better deals to be had through auctions as compared to what land-flippers are doing. So that 100L-per-M2 parcel may end up next to a parcel with a starting bid of 50L auction with no risk (if you're outbid you get your money back, if you win then you paid only what you think it's worth). Which do you suppose more people are going to opt for?

Edited March 27, 2019 by Alyona Su

[Alyona Su]

8 hours ago, ItHadToComeToThis said:

Usually because "flippers" set the price at like 15-100+ lindens psqm. Its part of the reason I don't ever really buy mainland.

I would love to purchase a mainland full sim and reap the benefits of the lower tier, however, at 200-500k lindens and thats before I start paying the tier. I don't think so. I can rent a full sim privately for 14-15k a week. For the initial purchase price on most of the full sims I can pay from a few months to over a years worth of tier. And thats usually before you even get in to the cost of water sims.

Even smaller parcels suffer from it. I saw a 1024 on that auction last night for 15k..nothing special about it, no water, land locked..15k..land flippers are a cancer on mainland.

Maybe, maybe not. Land-flippers always will way over-priced. But the "regular" people like me will have the option. I have abandoned the equivalent of half a region in the last year just so I could move quickly. Didn't even bother putting it up for sale. But now with auctions, I'd literally start it out at 1L per M2 - the same as LL does it. Then let it rock and roll for a week (or until a couple of days before land-use-fees are due) - then if it doesn't sell I'll abandon, otherwise, I make some money.

Maybe it takes six months, maybe a year, but as more and more "jane and john resident" discovers resident-to-resident auctions, you're going to see more and more. The land-flipper are in for some very interesting, very-changing times.