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Wanted Domain Liquidation Platform - Seeking input for new Epik project

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Dear Namepros,

The team at Epik is exploring the development of a project that aims to shift the painful domain name expiration process into a more profitable experience for domainers. Perhaps you have read my opinions about registrars selling expired domains and refusing to help registrants in recovery. The time to disrupt this with action has come!

In the meantime, since joining Epik last month, I decided to do something about it with the help of some amazing engineers. The goal of this "name liquidate" idea is to sell domains directly to buyers that may otherwise wait to acquire these domains at expired auctions or being filled as registrar backorders which pays zero to the registrant.

The planned solution addresses two domainer pain points,
1. Liquidation of expiring inventory brings much needed capital, meaning you can renew more of your portfolio.
2. Buyers get clear title and dont waste time bidding on names that can be recovered post-expiry.

Here is the process,
1. Submit your domains: you unlock your domains, provide auth codes.
2. Seller acknowledges that a fast-transfer of the domain will occur once domain has a bid.
3. Bidders agree to non-revocable change of ownership if their bid prevails.
4. Sellers receive a large portion (80%?) of auction proceeds.

The process begins with a 7 day reverse auction counting down hourly/daily, down to $1 plus renewal/transfer for delivery. The domain doesn't have to be expired or expiring. You can submit the name multiple times during the life of the name but not more than once per year. Once the auth code is verified:
• Epik parks the domain with auction template with Make Offer pricing so retail bids can come in.
• Wholesale buyers are informed of expired auction inventory update.
• Domain goes through reverse auction in 7 days
• Domains are fast transferred to Epik as soon as one bid is made.
• If seller locks name, all domains will be removed and no further listings will be accepted from seller.
• Domains already at Epik are pre-qualified for "name liquidate" services, but you must opt in manually.
• External domains are eligible once auth codes are verified.
• Data will include number of views, expiration date, and expected delivery.
• Pre-set domain buys will give you the ability to buy any name when a price hits a certain target.
• Once a bid is submitted, it cannot be revoked. All purchases a final non-refundable.
As for brand name, we are considering NameLiquidate.com — very descriptive name and targeted at a very specific audience. That said, open to considering other names. A separate brand naming project is coming shortly for what Rob describes as the “Ultimate Digital Brand Marketplace”. This is separate.
 
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The views expressed on this page by users and staff are their own, not those of NamePros.
The beauty of a dutch (reverse) auction is that you no more need to do this. Bidders are expected to determite their max. bid from the very begining, and pay this exact amount as the public price is constantly decreasing. Yeah, it works - but in competing environments. NameLiquidate had little or no bidders in the first week or so, but now there are different buyers competing. Rob recently posted a NameLiquidate sale in high 3 figures range - a perfect example. We are no more in $1...$9...$10 sales range exclusively. As for proxy bidding, it was originally intended to help folks who many not be online in the moment of the decreasing price reaching their desired amount - so it is one time shot by nature. One cannot go back in time and change their decision if he is online but just lost the domain in reverse auction (somebody else accepted higher price), so, why should proxy bidding work differently?

Let's think about this without proxy bidding for a moment. If I see a name and the current price is let's say $500 and I think I like it but I am not willing to pay $500 so I'll come back online when it falls to $100. A short while later it has fallen to $200. I could now decide that actually I'm willing to pay $200 and want to snatch it up before someone else does so I go on and click buy now at $200.

So now bringing proxy bidding back into this, allowing someone to change their proxy bid is really no different and should be allowed.
 
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The beauty of a dutch (reverse) auction is that you no more need to do this. Bidders are expected to determite their max. bid from the very begining, and pay this exact amount as the public price is constantly decreasing. Yeah, it works - but in competing environments. NameLiquidate had little or no bidders in the first week or so, but now there are different buyers competing. Rob recently posted a NameLiquidate sale in high 3 figures range - a perfect example. We are no more in $1...$9...$10 sales range exclusively. As for proxy bidding, it was originally intended to help folks who many not be online in the moment of the decreasing price reaching their desired amount - so it is one time shot by nature. One cannot go back in time and change their decision if he is online but just lost the domain in reverse auction (somebody else accepted higher price), so, why should proxy bidding work differently?

Exactly right -- that is why NameLiquidate is clever.

Proxy bidding is a required ingredient for enabling people with more time than money.

We also need a curated hot list, @DanSanchez has an eye for it and will be driving that.

I do like the trajectory, especially with a lot more features on the way.
 
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So now bringing proxy bidding back into this, allowing someone to change their proxy bid is really no different and should be allowed.
Yeah. If and only if everything is private - existence of other bids, number of other bids, $$$ offered by other bidders. Private for all parties - both general website visitors (which is current case) and current bidders. Indeed, if I was willing to pay $900 but mistakenly entered $90 - then the system should allow me to edit my proxy, no doubts :)
 
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The beauty of a dutch (reverse) auction is that you no more need to do this. Bidders are expected to determite their max. bid from the very begining, and pay this exact amount as the public price is constantly decreasing. Yeah, it works - but in competing environments. NameLiquidate had little or no bidders in the first week or so, but now there are different buyers competing. Rob recently posted a NameLiquidate sale in high 3 figures range - a perfect example. We are no more in $1...$9...$10 sales range exclusively. As for proxy bidding, it was originally intended to help folks who many not be online in the moment of the decreasing price reaching their desired amount - so it is one time shot by nature. One cannot go back in time and change their decision if he is online but just lost the domain in reverse auction (somebody else accepted higher price), so, why should proxy bidding work differently?
Yeah, I understand how a Dutch auction works. To me, Epik's adjustment to the process makes it better than a traditional dutch auction, since there is the ability for proxy bids. I'm not sure if you feel that better prices (for sellers) will be had as a result of NOT allowing proxy bids to change, or if it's just your personal preference. Or maybe you consider it from a buyer's POV. Personally I feel that sellers will obtain better prices if proxy bids can be increased, so I guess if your view is opposite we'll have to agree to disagree on that one. So far I have been a buyer much more than a seller, but still my preference is always to see a seller get the best possible return (since I will also be a seller at times).
 
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Yeah. If and only if everything is private - existence of other bids, number of other bids, $$$ offered by other bidders. Private for all parties - both general website visitors (which is current case) and current bidders. Indeed, if I was willing to pay $900 but mistakenly entered $90 - then the system should allow me to edit my proxy, no doubts :)
But weren't you just arguing a few minutes ago that proxy bids shouldn't be changed under any circumstance?...
 
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But weren't you just arguing a few minutes ago that proxy bids shouldn't be changed under any circumstance?...
Thanks to Ryan217's post, I now agree that it should be allowed - sometimes :)
 
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Or maybe you consider it from a buyer's POV.
I'm trying to think from both points actually :) Selling something, buying something on domainer-2-domainer platform is what the NameLiquidate is about. For me, at least. And, reverse dutch auction is a fresh air. No way to abuse it with shill bidding, no snipping, no hugedomains, full transparency.
 
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Is there a way (or will there be a way) for a seller to drop in a "reserve" price, a floor? For example, I list a domain and it begins the declining price auction around $990 I think. I know in my heart the domain is worth more than $9 so I enter a reserve of $100. Buyers dont see that reserve of course but they know it exists (on domains which have them). Once the decline hits the reserve, no bids = no sale and domain is removed from auction. Just wondering if that can be something to consider?
 
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Is there a way (or will there be a way) for a seller to drop in a "reserve" price, a floor? For example, I list a domain and it begins the declining price auction around $990 I think. I know in my heart the domain is worth more than $9 so I enter a reserve of $100. Buyers dont see that reserve of course but they know it exists (on domains which have them). Once the decline hits the reserve, no bids = no sale and domain is removed from auction. Just wondering if that can be something to consider?
Rob has said before that this is coming, so hopefully that's still the case. It works for the low end and the high end. I would prefer a minimum of just a few $ as there are a bunch of names that I would risk that one, but I wouldn't put $9 into them (plus renewal fee). It would be totally up to the seller of course whether they would allow it to go that well. In fact, maybe there could be a default reserve price of $9 (which is basically the case now), or if sellers so choose then they could manually enter a different reserve. A few dollars at the low end, or maybe $99 at the top end. I know Rob has said that it's a liquidation platform so the max reserve shouldn't be more than that sort of figure.

With it being a dutch auction and the possibility that a name can disappear from the list (bought through BIN or proxy bid) or keep going down to anywhere between say $3 and $99 I can imagine a slogan (borrowed from another) like: "Down and down she goes, where she stops nobody knows". ;)
 
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Is there a way (or will there be a way) for a seller to drop in a "reserve" price, a floor? For example, I list a domain and it begins the declining price auction around $990 I think. I know in my heart the domain is worth more than $9 so I enter a reserve of $100. Buyers dont see that reserve of course but they know it exists (on domains which have them). Once the decline hits the reserve, no bids = no sale and domain is removed from auction. Just wondering if that can be something to consider?

Rob has said before that this is coming, so hopefully that's still the case. It works for the low end and the high end. I would prefer a minimum of just a few $ as there are a bunch of names that I would risk that one, but I wouldn't put $9 into them (plus renewal fee). It would be totally up to the seller of course whether they would allow it to go that well. In fact, maybe there could be a default reserve price of $9 (which is basically the case now), or if sellers so choose then they could manually enter a different reserve. A few dollars at the low end, or maybe $99 at the top end. I know Rob has said that it's a liquidation platform so the max reserve shouldn't be more than that sort of figure.

With it being a dutch auction and the possibility that a name can disappear from the list (bought through BIN or proxy bid) or keep going down to anywhere between say $3 and $99 I can imagine a slogan (borrowed from another) like: "Down and down she goes, where she stops nobody knows". ;)

Also @AGAME you can manually remove the name at any time. There just no automated removal at a reserve price....yet.
 
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Also @AGAME you can manually remove the name at any time.

I remember this being mentioned earlier, and it is something I would be willing to do. However, thought I read somewhere about a potentially negative impact for removing domains while the auction was in progress. Is that still the case? If I find the info, I'll quote it.
 
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You cannot lock the domains once provided and you cannot pull them from reverse auction once it begins. If you do, I will devise a penalty system for repeat offenders.

Here's the 1st mention of a negative impact/for removing domains once auction begins. Granted, it was during the initial phase of the project/platform, and setting reserves had only been mentioned in passing at the time.
 
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Thanks for the kind words @Rob Monster the difference is belonging to one of the highest performing teams in the industry. Perhaps THE highest? With time we should define it as so.

A quick update on the process of the submissions to list on NameLiquidate - We are actively discussing the changes needed to get this fully operational for tomorrow. My content progression has been slow but steady. Should be completed shortly.

When you log into Epik, you can simply navigate to NameLiquidate.com and your accounts will the same.

On the very top of the site you will see the "ADD" button, which will take you here: https://registrar.epik.com/portfolio-liquidate

The 5 boxes you must agree to are absolutely required to list on the site. You cannot re-lock the domains, if you do this by mistake please contact me ASAP. But we will assume it was made to block the ability to transfer external domain transfers. You will be blocked from submissions for 30 days on the first occurrence and 3 times means permanent ban from NameLiquidate. We obviously don't want to ban anyone, so please honor your word and let's liquidate!

nQLK6TH.png


Obviously there is no way to verify if you contacted a buyer after making a sale, but we hope the honor system works in this case.

Any questions, suggestions, etc are always welcomed.

2nd mention of penalty for removal of domains (4th checkbox). Again, not sure if this is still applicable for those who intend to remove their domains once a certain price point has been surpassed (in lieu of no functional reserve method at the time of this post).
 
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I just finished my portfolio revision and determined what would I renew (or drop) up to the end of 2020. Which would allow me to add more stuff to NameLiquidate :) I may even decide to still renew some of them later - not 100% sure yet. Which makes me think again of some custom min. price with NameLiquidate - not $9 but at least $19 ... $29... $59. GoDaddy regged stuff will all be grabbed on their expired auctions in 3 figures range anyway. @Rob Monster - are there any updates? To simplify everything, the system might offer a few fixed options - like $9 (current), $29 or $59 for example. It would be also more practical from buyers point of view - checking lists with 100% random reserves is too hard.
 
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The above post reflects natural sellers point of view. I completely understand and agree that it is not 100% compatible with liquidation idea. What should be better? It is a dilemma...
 
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I just finished my portfolio revision and determined what would I renew (or drop) up to the end of 2020.
Wow, that is certainly being prepared. Despite my best intentions I am usually lucky to get 1-2 months ahead, let alone 10!
 
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Is there a way (or will there be a way) for a seller to drop in a "reserve" price, a floor? For example, I list a domain and it begins the declining price auction around $990 I think. I know in my heart the domain is worth more than $9 so I enter a reserve of $100. Buyers dont see that reserve of course but they know it exists (on domains which have them). Once the decline hits the reserve, no bids = no sale and domain is removed from auction. Just wondering if that can be something to consider?

There will be in the future, but for now I suggest you enforce a floor by removing the domain manually.

You can see the orange link under "LIQUIDATE" - Which is found on every domain regardless of listing it on NameLiquidate.com
lu8cbuI.png



2nd mention of penalty for removal of domains (4th checkbox). Again, not sure if this is still applicable for those who intend to remove their domains once a certain price point has been surpassed (in lieu of no functional reserve method at the time of this post).

My thoughts initially were to penalize the removal by locking the domain AFTER the domain has sold. Which is still the case. If you fail to honor a transfer request after the domain has sold, we will likely limit your activity on the site for a period of time.

The removal of domains BEFORE they sell was discussed extensively internally, as well as the forums, and I do agree: You have full control of the price you get for your liquidations. That being said, there is a penalty to the individual domain for removal. You cannot re-list the domain for 90 days.

I just finished my portfolio revision and determined what would I renew (or drop) up to the end of 2020. Which would allow me to add more stuff to NameLiquidate :) I may even decide to still renew some of them later - not 100% sure yet. Which makes me think again of some custom min. price with NameLiquidate - not $9 but at least $19 ... $29... $59. GoDaddy regged stuff will all be grabbed on their expired auctions in 3 figures range anyway. @Rob Monster - are there any updates? To simplify everything, the system might offer a few fixed options - like $9 (current), $29 or $59 for example. It would be also more practical from buyers point of view - checking lists with 100% random reserves is too hard.

Congratulations on doing what many of us have not yet done!

This will have to be implemented, and we are seeing more activity on the buy side now. Working to improve daily takes some time to build up. For example, I will be running a weekly newsletter to highlight domains that represent above average opportunities.

I do like how you present the idea, "select one of these three options to implement a reserve." The domain gets removed at that point and buyers will be able to see there is a reserve (just not what it is.) Let me see how we can get this done and I will keep you updated. It seems like an advanced feature to my simple domainer brain.

For now, liquidate what you are not going to miss and get whatever price the market sets for you. I lost a few domains to aggressive buyers, like Motor.Care, I bid for it and lost! It was painful to see someone else was willing to bid more.
 
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Quick question:

Right now in NameLiquidate and Epik marketplaces in general we don't show you a seller user handle. As I browse the inventory of NameLiquidate, I wonder if it might be handy to know who is the seller.

In other words, if I know that a certain seller sometimes sells names I like, I might filter by seller, or be alerted when that seller adds inventory, i.e. "Follow" the seller.

What do folks think on that? Useful or creepy?
 
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What do folks think on that? Useful or creepy?
It would not affect domain selection process on buyers end. One would reasonably guess that domains are deliverable (since they were unlocked anc correct authcode was provided), so the main aftermarket sites problem (outdated or otherwise incorrect listings) is non-existent @ NameLiquidate. Moreover, since not all domains are equal - but all are in liquidation - having sellers id would not be useful for any purpose.

The last but not the least, the sellers may not want to see their portfolio being trackable (as a portfolio) on any level... privacy reasons, business reasons, even not linking public handles (forum usernames etc - anything social) with business (not social). Which is exactly why for example some afternic sellers disable links to other domains they own and to extra details on afternic pages.

So, it appears that the proposes feature would not be beneficial.
 
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Quick question:

Right now in NameLiquidate and Epik marketplaces in general we don't show you a seller user handle. As I browse the inventory of NameLiquidate, I wonder if it might be handy to know who is the seller.

In other words, if I know that a certain seller sometimes sells names I like, I might filter by seller, or be alerted when that seller adds inventory, i.e. "Follow" the seller.

What do folks think on that? Useful or creepy?

I could see the use but some senders may want to list inventory anonymously. So I think if so the seller should have the option to opt out of it?
 
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What do folks think on that? Useful or creepy?

Not useful info for me...I think it should be a 'pure' experience with clean as possible information...I don't want more info other than name and price...makes it easy for me to quickly analyze the list.
 
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In general, the user should not be diverted away from what they plan to do. It is more like sending the leads away. They may click on the user handle, check out their profile/inventory, and so on and forget where where they started.
 
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One piece of advice for anybody reading this, and maybe @DanSanchez or @Rob Monster could note on the NL site, if you use proxy bids make sure to setup a backup payment method.

My credit card on file failed which has now caused a bit of a problem I am working with Epik support to resolve. Though now I added my PayPal account as a second payment method which will hopefully avoid this in the future. But it might be good to note to ensure a backup payment is in place.
 
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I have a handful of domains that used to be on NameLiquidate and did not sell. Is it OK to re-list these domains and if so, how to do it since the link to list on Liquidate is grayed out. Do I click the "remove" link and try list again or is this not permitted?
 
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I have a handful of domains that used to be on NameLiquidate and did not sell. Is it OK to re-list these domains and if so, how to do it since the link to list on Liquidate is grayed out. Do I click the "remove" link and try list again or is this not permitted?
I believe you can't relist for 90 days. It's how they make sure there are always fresh domains.
 
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