discuss BIN on More Than One Marketplace?

[gericsb]

Hi All,

I know the conventional wisdom is to ONLY set a BIN on one Marketplace (usually Afternic) with Make Offers everywhere else ( Dan, Epik, Uni, Sedo etc.)

I understand WHY this is the case but as a buyer (occasionally) I pass over any items without a price. Not just domains, either. Real Estate, vehicles etc.

I can't help but think that maybe adding BINs to MORE than one Marketplace would help increase sales.

Maybe on Afternic and Dan (with lease option).

Aren't the chances of two buyers hitting BIN on two different marketplaces simultaneously next to impossible?

And what if the million to one scenarip does happen? What am I as the seller on the hook for?

Basically, what is the penalty?

Thanks!

 

[Samer]

The penalty is in the small miniscule chance it sells in more than one place; you look like unprofessional

Also think about this:

Let’s say someone’s watching it. Sees it sell But then he sees it at another marketplace slow to update, since you insist multiple bin. He pulls the trigger, thinking 2nd chance, and you look unprofessional, lucky not to get banned for not honor sales at a market imo.

Just join network” like afternic (biggest reach) DAN, and SEDO. Dont have multiple BINs… If sells, make sure ASAP delist everywhere else. Personally, 1 recommend afternic, up to you; but dont multiple bin imo. Just avoid trouble… “Make offer” shouldnt be that hard replace “bin -^Personally, i think it’s harder to price my Dns.

 

[gericsb]

Thanks, Samer.

I always value your opinion! But...if the risk is simply that there is a million-to-one chance I will 'look unprofessional', I would take it to increase chance of a sale.

Now, if the penalty is Afternic bans me for life, then that's not something I am willing to risk.

Any other opinions?

 

[zomainhacks]

But...if the risk is simply that there is a million-to-one chance I will 'look unprofessional'

The risk depends on the domain demand and on your pricing. Let's say (for absurdum) you price home dot com with $10k BIN, then the risk of two guys triggering the BIN button is very high (the same might happen with less premium domains but with very convenient BIN prices).

edit: also the risk increases with your portfolio size.

 

[gericsb]

Hi zomainhacks,

Yes, I agree with everything you stated. My idea is to have one price on Anic and then, perhaps, higher price on Dan (due to lease option) etc.

IF anything sells, I will immediately remove the domain from other marketplaces.

My portfolio size is just over 100 domains. 111 to be exact now.

Does anyobe here do BINs on more than one marketplace? How's it working out?

 

[gericsb]

Would love to hear some input from the usual suspects on this discussion:

What do you guys think:
@twiki
@biggie
@johnn

 

[noneisnone]

go for it broski the chances of it selling at BIN at the same time are slim to none just make sure you delist after

 

[gericsb]

Thanks noneisnone...

 

[noneisnone]

to put you at ease i had that happen before where a domain sold on two platforms not by bin but stupid mistake from my end sedo was understanding and they didn't ban me but it was a bit of a headache

 

[gericsb]

Thanks for sharing that noneisnone...makes me feel better about taking the chance!!

 

[DuDD]

absolutely
I agree

 

[biggie]

Does anyobe here do BINs on more than one marketplace? How's it working out?

Hi

i do not have BIN on more than one marketplace.

the rationale is,
whatever platform you point your names to, is where BIN should be set, if you decide to set one for that specific domain.

imo...

 

[gericsb]

Thanks for your input, biggie!

 

[uzver]

For the last 2-3 years I go against conventional wisdom and set BIN on three major platforms (Afternic, Sedo, DAN) simultaneously.

My portfolio size is ~500 domains, and I park all domains at my own website with BIN buttons pointing to DAN.

So far so good (albeit with a couple of exceptions). I sell roughly 20-35 domains per year (just to give you some idea on how it works for me).

If you want to follow this strategy in a more or less safe way I would advise to set the same price everywhere. I did have a couple of issues when buyers placed the domain into cart somewhere on Afternic DLS, but purchased the domain via DAN lander when the price was cheaper at DAN. And I have never had any issues when the price was same (50% of the time).

 

[gericsb]

Thanks, Uzver....

That is very interesting I had decided to do exactly that: set BIN prices on Afternic, Sedo, Dan but wasn't sure whether to set them all to the exact same amount at each venue.

I haven't developed my own website as of yet, but am considering a similar setup at some point.

Glad that you shared your strategy!

 

[Etim Abasiama]

Thanks to all who commented on this, it was really helpful. I will immediately delist sold Domains from other market place.

I've been feeling so lazy to do that, never knew I could get ban

Thanks guys

 

[SuperDudePro]

For the last 2-3 years I go against conventional wisdom and set BIN on three major platforms (Afternic, Sedo, DAN) simultaneously.

My portfolio size is ~500 domains, and I park all domains at my own website with BIN buttons pointing to DAN.

So far so good (albeit with a couple of exceptions). I sell roughly 20-35 domains per year (just to give you some idea on how it works for me).

If you want to follow this strategy in a more or less safe way I would advise to set the same price everywhere. I did have a couple of issues when buyers placed the domain into cart somewhere on Afternic DLS, but purchased the domain via DAN lander when the price was cheaper at DAN. And I have never had any issues when the price was same (50% of the time).

I used to use the same 3 for BIN, but since I sell so little on Sedo and my portfolio is getting bigger, I dropped down to just BIN at Afternic and Dan. My landers are split between the 2 with 90% at Dan.

I keep the prices the same on both. I've never had an issue. I don't really buy the 'unprofessional' claim. In the grand scheme of domain investing, having an identical BIN at 2 marketplaces doesn't really make me question someone's integrity. I think it says more about the people who get salty about it than it does about the people doing it.

If an offer or buy comes in, I get the BIN off of the other marketplace immediately and then delete it from all other marketplaces once it's sold. I can only hope for the day that I have an issue with domains selling simultaneously across platforms.

 

[Donnyd]

Would put all Buy it now on dan, then make an offer on all aftternic names. You will lose out on money when you can't have a conversation on afternic with buyer or know who they are. Dan you can have conversation with and will know who you are dealing with in most cases.... by IP, email, and just asking.

 

[HotKey]

I don't do it out of respect and courtesy to the would-be buyer, and alleviate my own potential headaches.

Looking at it logically, how can you offer a domain for sale instantly, if it's also available instantly somewhere else? As a buyer, it would add a roadblock to me to hitting that BIN..

But.. it's possible many first-time buyers aren't checking other marketplaces, so it could work to your advantage as long as your on top of keeping house.

 

[AbdulBasit.com]

I've never faced any instance where the buyer(s) did BIN on 2 marketplaces simultaneously. All of my domains are listed with Sedo and Afternic having BINs.

Whenever a domain is sold from either of the platforms, I just go ahead and remove from the other one.