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ICANN: New gTLD Auction Proceeds

ICANN new generic Top Level Domains logoAuctions are the mechanism of last resort to resolve string contention within the New gTLD Program. ICANN expects that most string contention will be resolved through other means before reaching an Auction conducted by ICANN’s authorized Auction service provider, Power Auctions LLC.

However, there is a possibility that significant funding will accrue as a result of several Auctions. Auction proceeds will be reserved and earmarked until the Board determines a plan for the appropriate use of the funds through consultation with the community. Auction proceeds are net of any Auction costs. Auction costs may include initial set-up costs, auction management fees, and escrow fees.

Information about the Auction process or Auction Results can be found on the Auctions page or Auction Results page, respectively.

Below is a breakdown of Auction proceeds as of 22 October 2014.

Description Proceeds Costs Net Proceeds
Auction Development Costs
Direct Contention $ 230,000
Indirect Contention $ 120,000
Wilmington Trust Annual Fee $ 1,750
Subtotal: Auction Development Costs $ – $ 351,750 $ (351,750)
4 June 2014 Auction
Completed Auctions $ 600,000 $ 24,000
Escrow Fees $ 500
Subtotal: 4 June 2014 Auction $ 600,000 $ 24,500 $ 575,500
9 July 2014 Auction
Scheduled and Cancelled $ 10,000
Escrow Fees $ 500
Subtotal: 9 July 2014 Auction $ – $ 10,500 $ (10,500)
6 August 2014 Auction
Scheduled and Cancelled $ 20,000
Escrow Fees $ 500
Subtotal: 6 August 2014 Auction $ – $ 20,500 $ (20,500)
17 September 2014 Auction
Completed Auctions $ 14,349,776 $ 573,991
Scheduled and Cancelled $ 60,000
Escrow Fees $ 3,750
Subtotal: 17 September 2014 Auction $ 14,349,776 $ 637,741 $ 13,712,035
22 October 2014 Auction
Completed Auctions $ 12,889,463 $ 515,579
Scheduled and Cancelled $100,000
Escrow Fees $5,750
Subtotal: 22 October 2014 Auction $ 12,889,463 $ 621,329 $ 12,268,134
Current Total $ 27,839,239 $ 1,666,320 $ 26,172,919

 

This ICANN announcement was sourced from:
http://newgtlds.icann.org/en/applicants/auctions/proceeds