Flippa Strategies? How Much Do Upgrades Work? Any Tips To Share? Let's Discuss!

[NameFu]

I've hear a lot of things from $1 reserves to setting an auction for no longer than 7 days. Does anyone have any tips that are proven to increase your bids?

One things for sure:

1) The more views you get, the more likely you'll get more bids
2) The longer your auction, the more exposure it *could* get before it closes

But what about the other factors like advertising upgrades? Have any of you had luck with any kind of upgrades in particular? I for one have never tried the premium auction upgrade before, but I'm seriously considering it.

Another factor is how an auction's description is composed. Any tips to share? I'm always an open book and looking for input from others.

One thing that I've seen work over and over again with some of the more successful sellers is listing the past sales history of similar domains with the same keywords. I think this is becoming a popular tactic for a reason, but do any of you believe that doing this can cause harm to your auction's appeal?

Another tactic that I've seen used by some sellers on Flippa is keeping it REALLY simple. And by that I mean max 5-6 sentences. Sort of a take it or leave it approach....letting the domain speak for it's self?

It's worked! But maybe different strategies for different domains? Let's discuss!!

 

[HeyNow]

Yes there is a difference but that does not mean flippa is driving up the price of that. What are they gaining a 10% fee, it is different if they gained 100% profits but their are not.

The Seller is gaining, because, according to Flippa's CEO, the Seller is in on the scheme. Happy Sellers = more business for Flippa. Screw the clueless, bidders/buyers, right? What they don't know won't hurt them.

 

[900Worldwide]

lol I have to laugh because the article clearly stats that they are allowed to bid if the employee is interested. Remember auction are supposed to be bid, If i bid on something you have listed who wins you the seller and me the buyer. Seems pretty fair to me. How can the seller be in on something that most people know about or dont know about . All buyers have a budget if he or she get out bid who fault is that the bidder with lower budget.
Of course I am not saying screw the buyer or bidder, just saying flippa is not shill bidding.You make it sound like flippa is going around bidding on everyones listing which is not true and a #Fact.

 

[FPForum]

@HeyNow: So, you're saying the seller is gaining here - Not Flippa? The seller is in on the scheme with Flippa? You're saying Flippa is going to "shill bid" the price up and if they wind up being the highest bidder they just won't pay and the seller will have to re-list it, costing some of them another 1/2 relisting fee? Otherwise, if the employee is the highest bidder and pays and goes through with the transaction like any other bidder than why would that a problem?

For one-of-a-kind domains that an employee wants, sure they might be bidding it up..Because they want it just like you and the next guy does. Any interested party is going to bid the price up until they reach the maximum amount they're willing to pay. That's the point of an auction.. On top of that, you're saying "one-of-a-kind domains" such as premium domains. These types of domains usually have tons of bidders.. How many do you think are Flippa employees?

For a website as large as Flippa..with all their traffic..their reputation.. It just seams a little odd they would do such a thing for a slight increase in their 10% success fee. I personally feel if they are going to make it clear they're an employee they should be allowed to bid just like the next person. Maybe they have more money than you and will outbid you. Guess what? There are tons of these domains listed on a weekly basis and there will always be others.

 

[900Worldwide]

@HeyNow: So, you're saying the seller is gaining here - Not Flippa? The seller is in on the scheme with Flippa? You're saying Flippa is going to "shill bid" the price up and if they wind up being the highest bidder they just won't pay and the seller will have to re-list it, costing some of them another 1/2 relisting fee? If the employee is the highest bidder and pays and goes through with the transaction like any other bidder than why is that a problem?

For one-of-a-kind domains that an employee wants, sure they might be bidding it up..Because they want it just like you and the next guy does. Any interested party is going to bid the price up until they reach the maximum amount they're willing to pay. That's the point of an auction.. On top of that, you're saying "one-of-a-kind domains" such as premium domains. These types of domains usually have tons of bidders.. How many do you think are Flippa employees?

For a website as large as Flippa..with all their traffic..their reputation.. It just seams a little odd they would do such a think for a slight increase in their 10% success fee. I personally feel if they are going to make it clear they're an employee they should be allowed to bid just like the next person. Maybe they have more money than you and will outbid you. Guess what? There are tons of these domains listed on a weekly basis and there will always be others.

 

[FPForum]

I agree..Not everyone is going to like every marketplace. With some places like SnapNames or NameJet (or even GoDaddy expired auctions) I don't think employees should be allowed to bid. The company is making 100% of the profits on it and shill bidding would be completely wrong to customers/bidders. At Flippa, the employee becomes a bidder just like everyone else. In the end, the property is owned by a third party. Reserves are set, bids can be accepted/rejected by the third party, and those who have won and not paid auctions I've held in the past had their accounts suspended, so I imagine the CEO of Flippa would hold his employees to the same standards.

 

[HeyNow]

@HeyNow: So, you're saying the seller is gaining here - Not Flippa? The seller is in on the scheme with Flippa? You're saying Flippa is going to "shill bid" the price up and if they wind up being the highest bidder they just won't pay and the seller will have to re-list it, costing some of them another 1/2 relisting fee?

Can you read?

1) Yes, the Seller gains, because more bidders means higher sale price. Seller likes that, get it?

2) Seller is on the scheme with Flippa, as stated here by Flippa's CEO. Read question and answer #6: http://tldinvestors.com/2012/11/quick-chat-with-david-slutzkin-ceo-flippa.html

3) I never said Flippa is going to "shill-bid" anything. Sounds like you're saying that, not me. Shill-bid means the shill-bidder doesn't really want the domain, but is merely jacking up the price. Flippa employees may want to actually buy the domain on which they bid, but the fact is, if they bid, they drive the price up.

Please read what I say carefully before you mis-quote me. Don't play fast and loose with the truth and accuracy.

 

[Archangel]

It's irrelevant IMO. Would you be happier if they bid & jumped up the price compared to me doing the same? Really, there is 100% no difference. The price will be increased. Yes, I'm aware you'll quote this post and go on a rant a la "There is a lot of difference!" And then you'll go on a tirade to prove yourself. Facts are as they are: if a person bids, the price will raise, no matter the bidder. There is, as I've said, 100% NO DIFFERENCE and thus, your argument has no legs. If, on the other hand, their workers bid on domains they had no interest in, my 100% remark wouldn't be correct. But you can't bitch and whine just because a worker wanted the domain, too. If they bid merely to inflate the price, that'd be different. There are no sign of it, and there is some transparency in the issue. I trust Flippa a helluva lot more than Snapnames.

 

[900Worldwide]

Flippa point blank is a safe and secure marketplace and growing. I know this is different but an employee can by shares of the company they work for. No should have a problem with their workers bidding on good s they want.

 

[FPForum]

Not trying to start an argument or anything along those lines. If you think I misquoted you @HeyNow then I apologize. However, I can read and am not really sure if you're comprehending what I'm saying?

1) That's obvious. But, what makes you think Flippa would want to "side" with sellers by bringing them more business and screwing over the buyers instead? For the small increase in their 10% success fee?

2) I've already read the interview..Nowhere does he state that sellers are "on the scheme"..Do you know what "scheme" means? What he says is that sellers are notified that it's a Flippa employee. I'm sure that seller still has the right to 'decline' that bid/offer from that employee!

3) Sorry if I "jumped the gun" towards shill-bidding..but I did so because it's the only reason you should have a problem with them. If you chimed in on this post about Flippa simply because their employees have the freedom to bid on an auction (after notifying the seller) just like any other bidder than I think you might be a little crazy..

 

[900Worldwide]

Not trying to start an argument or anything along those lines. If you think I misquoted you @HeyNow then I apologize. However, I can read and am not really sure if you're comprehending what I'm saying?

1) That's obvious. But, what makes you think Flippa would want to "side" with sellers by bringing them more business and screwing over the buyers instead? For the small increase in their 10% success fee?

2) I've already read the interview..Nowhere does he state that sellers are "on the scheme"..Do you know what "scheme" means? What he says is that sellers are notified that it's a Flippa employee. I'm sure that seller still has the right to 'decline' that bid/offer from that employee!

3) Sorry if I "jumped the gun" towards shill-bidding..but I did so because it's the only reason you should have a problem with them. If you chimed in on this post about Flippa simply because their employees have the freedom to bid on an auction (after notifying the seller) just like any other bidder than I think you might be a little crazy..

Lol

 

[HeyNow]

It's irrelevant IMO.

Your opinion has been noted. Lots can be learned about a person from his/her opinions, and not all of it is good.

 

[HeyNow]

If you chimed in on this post about Flippa simply because their employees have the freedom to bid on an auction (after notifying the seller) just like any other bidder than I think you might be a little crazy..

Sure, I'm crazy, but I'm not stupid. Sounds to me like Flippa's non-employee customers participate while stupid, not knowing that Flippa employees might be bidding against them.

Why doesn't Flippa notify the buyers/bidders that the competition for a domain name might be a Flippa employee? Deal with that question before you call ME crazy.

Must be crazy to wonder why the outside customers/buyers are left stupid while the sellers are entitled to that bit of information. Although I think the answer is very simple. I believe Flippa realizes customers would run away and not look back if they knew Flippa employees might be bidding against them.

 

[FPForum]

Sure, I'm crazy, but I'm not stupid. Sounds to me like Flippa's non-employee customers participate while stupid, not knowing Flippa employees are bidding against them.

Why doesn't Flippa notify the buyers/bidders that the competition for a domain name might be a Flippa employee? Deal with that question before you call ME crazy.

We're certainly all entitled to our own opinions. It's a free world so you're not obligated to buy or sell anything there. Your question is a good one..Flippa does have a feedback email address and that might be something worth asking them. It's kinda like voting - If enough people agree with you and complain maybe they'll change things, lol. I don't know if I would go calling all of their non-employee customers "stupid" but to each their own...

 

[HeyNow]

I don't know if I would go calling all of their non-employee customers "stupid" but to each their own...

Great, then let's call them purposely uninformed.

I don't care enough to contact Flippa to ask why they choose to leave the customers/outside bidders less-informed than the sellers. Their in-place policy speaks volumes about their character, as far as I'm concerned. And due to that I wouldn't participate there, period. Like I said, the stank rubs off on the sellers too, so I wouldn't even sell there.

 

[Archangel]

We all have opinions. But are we forgetting the bad rep Snapnames got from their 'little' issue? Flippa is a giant. I don't seriously see a worker shill bidding, ever. It could happen, but I think Flippa would try their best to avoid that stigma.

 

[FPForum]

We all have opinions. But are we forgetting the bad rep Snapnames got from their 'little' issue? Flippa is a giant. I don't seriously see a worker shill bidding, ever. It could happen, but I think Flippa would try their best to avoid that stigma.

Yup..and GoDaddy had to go through something similar (Adam Dicker). I think in the interview here he mentions having a crew of like 12 people.. That many employees is probably much easier to oversee then the other two. Flippa has a pretty good reputation and I just don't know if they would risk it.. But once again, to each his own

 

[HeyNow]

Yes there is a difference but that does not mean flippa is driving up the price of that. What are they gaining a 10% fee, it is different if they gained 100% profits but their are not.

They're gaining sellers. They're gaining new profits on new sales from repeat and new sellers.

I get the feeling the spin-doctors are in the house, trying to obscure the reality of Flippa's policy as described by their own CEO in this interview, question and answer #6: http://tldinvestors.com/2012/11/quick-chat-with-david-slutzkin-ceo-flippa.html

 

[FlippaDomains]

Hey Everyone -- I'm Flippa's Domains Manager, and while a bit late to this thread, I'm going to be replying to individual comments as NamePros allows. I appreciate the opportunity to discuss best practices for domain sellers, as well as set the record straight in regards to our employees and their involvement in the marketplace. Anyone who would like more information can contact me directly.

 

[FlippaDomains]

I've hear a lot of things from $1 reserves to setting an auction for no longer than 7 days. Does anyone have any tips that are proven to increase your bids?

One things for sure:

1) The more views you get, the more likely you'll get more bids
2) The longer your auction, the more exposure it *could* get before it closes

But what about the other factors like advertising upgrades?
Another factor is how an auction's description is composed. Any tips to share?

Hi there,

Here is the general email I share with new sellers, as far as best practices are concerned:

My recommendations in setting-up your listing are as follows:
-- set an opening-bid of $1, with low- or no-reserve
-- set the auction's duration at 14-30 days, careful not to end it on a weekend
-- redirect the domain name to your Flippa auction, so type-in visitors will have the option of bidding

In starting the bidding at $1, domains will receive more bids, which bounces the listing into 'Most Active' territory, which increases exposure (thus helping to generate more bids, and...the cycle continues).

Furthermore, I blog and deploy a domains-only newsletter to over 170,000 subscribers every Thursday. If your domain hits 'Most Active' status, there's a good chance it will receive weekly coverage. Extending the duration 3-4 weeks helps extend this coverage.​

Premium Upgrades are most effective, though costly and usually only a worthy investment if you're selling a higher-value asset. Established sellers have less trouble listing $1 Reserve auctions and getting traction, but I wouldn't necessarily recommend this for newbies (unless you're fine with fire-sale'ing stuff).

It takes about 1-3 months to get more established as a seller, through consistent effort.

Here to help with any further inquiries!

 

[FlippaDomains]

Is it just me or are there people bidding on their own auctions and even buying their own domains when it doesn't sell, for the sake of not having an unsold auction on their record? It seems like there is a lot of this going on...

If you or anyone sees any evidence of this, you must immediately email Support@Flippa or hop on our Live Chat. We have a zero tolerance for this or related behavior, and since this past year have beefed-up our Trust and Safety + Customer Success Team, to deal with such suspicious activity.

 

[FlippaDomains]

That is against Flippa's rules. Any suspected shill bidding should result in a intimidate ban. Wasn't there a thread on here recently by someone that got banned because he claimed a friend logged into his own Flippa account from his laptop or something?

Interested in being pointed to that thread -- as I've stated earlier, our Trust and Safety Team is vigilant, and unfortunately, sometimes that means false positives as far as account bans are concerned! Cleaning up the marketplace is an ongoing process, but if someone feels they made an honest mistake, we do listen and take all into consideration...

 

[FlippaDomains]

Yeah, I know it's against the rules, but I'm totally convinced that people bid on their own domains because their auctions start almost immediately with 1 bid. I've also seen 2 people who admitted to buying their own domain in comments. For example there was a guy who put up a domain and it sold for 50k and he actually admitted when it was relisted to a commenter that he bought the domain in his previous auction....why woud he do that I have no idea, but he didn't get banned from what I can remember. I do see people getting banned often on that site though.

My biggest problem with Flippa is when people are lying about their exact match searches. There's one particular seller who has sold many domains for 15 - 30k dollars and he's almost always exaggerating his google numbers.

Also very often I see people saying that their google search results are actually exact match searches....it's disgusting and flat out lying. Even if they don't know the difference between search results and exact match searches they should still get penalized for this kind of nonsense...because they put buyers at risk with their bold ignorance....

1/ It's totally against the rules to bid on your own stuff, so please report this to myself or Support immediately, if you suspect anything.

2/ This also bugs me -- erroneous stats. STAY TUNED for a major overhaul of the domains page, that will make it harder for sellers to fluff-up stats in this way. As a caveat, however, the buyer must always do their due-diligence...This is not the responsibility of Flippa's Domains department; that said, we are ensuring that all Website listings become stat-verified.

 

[FlippaDomains]

If you want me to answer your question its $250

To mark the answer in bold - add $5

To include italic lettering - add $9

To have me post my answer to my twitter feed that no body reads - add $45

To have me email my answer to my entire email list of newsletter subscribers that could care less - add $75

I hope this answers your question

PS you are better off spending money asking domain shane to mention your listing (think he charges like 15-25 bucks). Obviously if you have a bad domain nothing matters.

Sellers that work with me get discounts on upgrades (2-for-1 Premium upgrades, free listings, etc) and we have a new section emerging called "Flippa Exclusive," that is completely free for hand-picked premium inventory. Please contact me to assess the best strategy for the listing(s).

 

[FlippaDomains]

Does anyone knows what happens when a new bidder places the highest bid in the last hour of your auction but you are not online to accept or reject the bid? Will the auction be extended with another hour anyway?

You can allow for auto-approval of bids, and yes -- that will extend the auction. But if you choose to manually approve bidders (which we recommend, so you can vet their legitimacy), the bid won't count until you approve.

 

[FlippaDomains]

I'm sure there is shill bidding going on through Flippa..but, you could probably expect that just about anywhere. I personally have tried the frontpage listing upgrade before. It does increase views but so many people buy them your listing will only be there for 24-48hrs. Never tried the full premium upgrade, but I have received "free" premium upgrade promotions before through email which I've taken advantage of... It has increased the views quite a bit. As for bids, that can be a little hard to really pin-point because I've only done it twice and I use multiple methods for promoting my auctions.

@dv82 to answer your question..it does extend it by an hr whether you go in and confirm it or not..You could wait until there is 5 minutes left and deny it if you want..you still get the extra hour out of it!

Interesting; I've actually not experienced that -- regarding listing extension. Thanks for schooling me on it, haha