A little heads-up about selling at Dynadot Marketplace.

[Primary Names]

TLDR
You may already know that if your domain sells at DD marketplace then you have to pay 5% marketplace commission. You may also know that the sold amount goes to your "account credit". Then you have to request for a "payout".

What you probably do not know is that if the amount is lesser than $500 they WILL NOT release the money to you. Why ? Because it is their "policy". What you also probably do not know is that when they make the "payout" to you they deduct another 5% as a "transaction fee". So that is a 10% commission baby !

Bottomline - My money is stuck at Dynadot, and whatever little liquidity I would have is now gone.
-----------------------------------------

THE STORY
This morning, I got a $1xx offer on a domain which happens to be also listed at DD marketplace. It ended up being finalized at $3xx. The communication was through their private messaging system. After negotiations, I set the BIN. Buyer hit the BIN. And then I received the following email from DD :

A buyer has purchased xxxxxxxxxxxx.com from your listing in our marketplace. The domain has been moved to the buyer's account. Your Dynadot account will be credited xxx USD for this sale once the processing period is over.

@Dynadot Whaat ? I never asked you to send it to my "Dynadot account" ! Why can't you just pay me like any other domain market and simply send it to my paypal or something ..? just take your commission and pay the rest ! Isn't it wrong to hold seller's funds like that ? I do not know of any other domain marketplace that does this.

Now I realiz that it was a terrible terrible decision use DD marketplace for a domain sale. Had I known this would happen, I would have definitely taken the lead to either EPIK, UD or NameSilo.

TAKEAWAY
If you really really really have to use DD then please remember to price your domain above $500 + 10%.

REQUEST
Anyone knows of any other way I could withdraw this money to my Paypal ?

@Dynadot I have already spent $700+ this year in my DD account. Is it possible to make an exception in your policy and pay me the amount of my domain sale which is $3xx ?

 

[alcy]

yeah... I read about that somewhere.

5%
then 5%

but then also I think I do not do mass pay to paypal.. therefopre you pay 4-5% more to paypal when money hits your accnt.. true?

 

[Primary Names]

yeah... I read about that somewhere.

5%
then 5%

but then also I think I do not do mass pay to paypal.. therefopre you pay 4-5% more to paypal when money hits your accnt.. true?

Damn. That would be worse then what I have assumed so far.
I thought Dynadot are nice guys you know !

 

[Steven McEvoy]

Dyandot v Namesilo ^

 

[alcy]

well they have nice support..
ok interface
and good prices

so still good choice.

just not for selling low price..

I mean if u sell domain there for 2k roi vs not selling it at all elsehwere.. then who cares about 15% fees.

 

[Primary Names]

Dyandot v Namesilo ^

NO. This is not a DD vs NS discussion.

 

[Primary Names]

I mean if u sell domain there for 2k roi vs not selling it at all elsehwere.. then who cares about 15% fees.

Yup. Didnt know about the "must sell higher" rule.
Hoping to bring some awareness in community, especially newcomers.

 

[domains21]

Yep, I remember reading all of this on the pages they direct you to before proceeding to use their marketplace and thinking 'yikes!'.

 

[private123]

What you probably do not know is that if the amount is lesser than $500 they WILL NOT release the money to you. Why ? Because it is their "policy". What you also probably do not know is that when they make the "payout" to you they deduct another 5% as a "transaction fee". So that is a 10% commission baby !

Thanks for aware !

 

[FavourB]

thank you for this thread am going to use another name server probably namesilo

 

[WhoaDomain.com]

how is the "action" over at the dynadot auctions?

 

[creataweb]

Most people have no need for $500 of credit. Just give them their money in stacks DD

 

[Primary Names]

how is the "action" over at the dynadot auctions?

Sorry. I don't see how your question relates to the topic of this thread ..

 

[Asfas1000]

What's more, this credit (that you will eventually use to buy from Dynadot) does not contribute to your yearly spend with them. Your yearly spend determines your discount level.

 

[Primary Names]

I asked to DD support, what happens if I add the remaining amount to my prepay, so as to reach the $500 threshold and then attempt a withdrawal. Guess what ? Prepay are non-refundable ( this one I knew ) so it wont add to the refundable-pool !

I do get the concept of prepaying one's account and it being non-refundable. But I really do not get their logic of holding the money generated from a domain sale. Are they doing this just because they can ?

 

[FavourB]

This is really hurting, probably you have to wait for another sale to come through.
Sorry for the troubles Dynadot is causing you.
the good news is you made a sale and will make another one soon

 

[karmaco]

I think it’s unfair and wrong for them to hold your money hostage. I like Dynadot but would never sell there. Thanks for warning others.

 

[WhoaDomain.com]

Sorry. I don't see how your question relates to the topic of this thread ..

Sorry. As someone who has spend $700 over at dynadot and shown a preclusion to selling via their auction I thought you would be uniquely qualified to answer that question but I'll remove it or mods will. Sorry. I guess you are pissed at this situation of yours over at dynadot.

 

[Primary Names]

Sorry. As someone who has spend $700 over at dynadot and shown a preclusion to selling via their auction I thought you would be uniquely qualified to answer that question but I'll remove it or mods will. Sorry. I guess you are pissed at this situation of yours over at dynadot.

No need to be sorry bro. I just participated and won one auction so don't know about the overall action there. Most of the money I spent on regs there. I am generally cautious. This one just caught me offgaurd as I wasn't excepting such tactics from DD.

Also, mine was a make-offer listing, not an auction.

 

[Dynadot]

I'm sorry to hear of your disappointment, when we introduced the payout policy we did allow lower amounts to be withdrawn, but unfortunately due to changes in Paypal's fee structure our team increased that to the current $500 limit. Our account managers may be able to make an exception however, we would just need to ask you to contact them at [email protected] with your account information.

We do feel that the total fee of 10% for a sale and withdrawal is fair and competitive, but I will pass the feedback on to our team for further discussion.

 

[alcy]

I'm sorry to hear of your disappointment, when we introduced the payout policy we did allow lower amounts to be withdrawn, but unfortunately due to changes in Paypal's fee structure our team increased that to the current $500 limit. Our account managers may be able to make an exception however, we would just need to ask you to contact them at [email protected] with your account information.

We do feel that the total fee of 10% for a sale and withdrawal is fair and competitive, but I will pass the feedback on to our team for further discussion.

your support told me once on phone that you do not do mass payouts to paypal.
which implies we pay another payment reception fee according to paypal fees... on top of the 10% total you mention.

can you confirm either way? ty

 

[BaileyUK]

This $500 limit on payouts is just another way of keeping your domains and therefore renewals at Dynadot. You could understand if they operated a minimum commission structure like most of the rest. Which, by-the-way seems to add up to about the same as the others anyway

 

[Dynadot]

your support told me once on phone that you do not do mass payouts to paypal.
which implies we pay another payment reception fee according to paypal fees... on top of the 10% total you mention.

can you confirm either way? ty

You shouldn't need to pay any further fees to Paypal, our team have advised that there is a fee when sending funds to non-USD Paypal accounts but that we would cover that fee and you would still receive the full amount listed on our site.

 

[alcy]

You shouldn't need to pay any further fees to Paypal, our team have advised that there is a fee when sending funds to non-USD Paypal accounts but that we would cover that fee and you would still receive the full amount listed on our site.

I deal wth many markets for sale payouts etc.. like most people here.

so this is not an issue of "there shouldn't be" fees.

its strictly an issue whether your payouts are made as MASS PAYMENT or not. mass payment means there is absolutely never a fee for receiver.

it should be easy for you to confirm as a yes or no whether you send it out as mass payment or not. in definite way.. where there are no doubts or questions left for anyone.

if you can do that it'd be appreciated. otherwise, there will just be confusions and issues from lack of clarity.

and in such a way that if you say "no fee" then if anyone ever receives a fee, they can refer back to your post here and have their misunderstandings resolved.

thanks alot.

 

[Dynadot]

I deal wth many markets for sale payouts etc.. like most people here.

so this is not an issue of "there shouldn't be" fees.

its strictly an issue whether your payouts are made as MASS PAYMENT or not. mass payment means there is absolutely never a fee for receiver.

it should be easy for you to confirm as a yes or no whether you send it out as mass payment or not. in definite way.. where there are no doubts or questions left for anyone.

if you can do that it'd be appreciated. otherwise, there will just be confusions and issues from lack of clarity.

and in such a way that if you say "no fee" then if anyone ever receives a fee, they can refer back to your post here and have their misunderstandings resolved.

thanks alot.

By mass payment do you mean us paying out multiple users at once? If so, that wouldn't be the case and all payout requests are paid out individually.