> 
> So the (likely) tenure of the license would presumably be a 
> significant
> influence on the price.
> 

The auction is for the right to obtain the licence for that name when the
new registry system goes live next year. It is one way of resolving a
situation where multiple parties which to register the same name.

The licence is for two years, and is renewable for further 2 year periods
provided the registrant is still eligible under the policy in place at the
time they registered the name.


Bruce Tonkin