Drop-catching: Your way

[S-B]

Hello everyone,

I am working with a partner to develop a new drop-catcher. I am interested in discussing the project and listening to your suggestions.

1. How much should a backorder cost?
2. How long should an auction run (3, 5 or 7-days)?
3. What is your preferred payment method (Paypal or...)?
4. What are the most important features you need?

I will also need some beta testers in he coming month.

If you're interested in the service and would like to be part of the development process, please answer the question above and let me know that you're interested.

Please keep all comments, suggestions and beta requests in thread.

Thanks,
Shane

 

[N-A]

• How much should a backorder cost?

• How long should an auction run (3, 5 or 7-days)?

• What is your preferred payment method (Paypal or...)?

• What are the most important features you need?

I've always felt that a backorder should initially be free. A way to offset this with multiple backorders could be to charge a backorder fee once the domain is caught. This way, you could get $x minimum in the bank account, once caught. If you are to catch multiple domains a day, you would have $x charges that stack up for those who place the backorder. This money could then sit in the bank until the backorder goes on either public or private auction, of course applied to it, and thus allowing you to earn interest on it. Once the auction is over and the money is then paid, you refund the "losers". This method would only work if it went to private auction, as nobody would place a backorder for a domain when they know it will go to public auction (e.g. DropCatch).

A deleting domain should be picked up within 72 hours for anyone to reap the benefits of it having multiple backlinks.

Preferred payment can be any electronic payment, if it's below a certain threshold. I would prefer to pay via PayPal, but if it's in excess of $5000, I would feel more comfortable with a credit card payment or audited escrow service.

The most important service of a drop catch is the ability to catch the name.

 

[starizec]

Volunteering for beta :D

 

[main]

First off, you need to be able to actually catch domains with competition. Needs to at least be able to beat Name, GoDaddy, Dynadot, and Pheenix at a good rate (not even expecting competition with the big 3). Otherwise, it would have zero value. By the way, I'm guessing DropCatch.com would go after you for using [domain removed] for the same kind of service. I think the best use of the [domain removed] would be a blog.

 

[S-B]

I've always felt that a backorder should initially be free. A way to offset this with multiple backorders could be to charge a backorder fee once the domain is caught. This way, you could get $x minimum in the bank account, once caught. If you are to catch multiple domains a day, you would have $x charges that stack up for those who place the backorder. This money could then sit in the bank until the backorder goes on either public or private auction, of course applied to it, and thus allowing you to earn interest on it. Once the auction is over and the money is then paid, you refund the "losers". This method would only work if it went to private auction, as nobody would place a backorder for a domain when they know it will go to public auction (e.g. DropCatch).

A deleting domain should be picked up within 72 hours for anyone to reap the benefits of it having multiple backlinks.

Preferred payment can be any electronic payment, if it's below a certain threshold. I would prefer to pay via PayPal, but if it's in excess of $5000, I would feel more comfortable with a credit card payment or audited escrow service.

The most important service of a drop catch is the ability to catch the name.

Some very interesting thoughts.

From a business standpoint, I love the idea of charging upfront for a bid placed on a backorder then refunding those who lost the auction. As a user, I'm not sure I would like that though.

Does anyone have any input on this idea? Would it deter you from using the service?

A 72-hour turnaround sounds like it could be achieved without any issue. I'll double check with my partner and report back.

So basically, multiple payment options would be ideal. Dually noted.

Thanks for your input, David!

 

[Kostas]

1. $10, this way you can market it as the cheapest and you won't lose anything as the backorder fee is returned to the losers of the auction.
2.2-3 days, while there is still a lot of interest for the given domain.
3. I think you will have to support all most known payment methods
4. Backorder service for new gtlds

 

[S-B]

First off, you need to be able to actually catch domains with competition. Needs to at least be able to beat Name, GoDaddy, Dynadot, and Pheenix at a good rate (not even expecting competition with the big 3). Otherwise, it would have zero value. By the way, I'm guessing DropCatch.com would go after you for using [domain removed] for the same kind of service. I think the best use of the [domain removed] would be a blog.

Heh. I was trying to leave the name out of it. I do not want to advertise the service here. I'm merely looking for input on the user experience. I do appreciate your comment though.

 

[S-B]

1. $10, this way you can market it as the cheapest and you won't lose anything as the backorder fee is returned to the losers of the auction.
2.2-3 days, while there is still a lot of interest for the given domain.
3. I think you will have to support all most known payment methods
4. Backorder service for new gtlds

A 3-day auction does sound viable. I agree it'll keep people interested. I constantly forget to bid on auctions that last longer than that.

I agree with the multiple payment methods.

I am not sure we would offer nGTLD backordering at this point. Since the price points are different for each extension it would make for a confusing experience. I will make a note of your suggestion though!

Thanks for your input.

 

[Messiah]

That's a good one @this_username_was_banned . Here is my opinion.

1. Backorder should be made free but make it so that the one who do backorder should have a minimum amount like ($5 to $10 in their account) in order to make a backorder request. This is because if someone who do backorder are bound to buy the domain. You can then add a fees of like $20 to $50 (If there are more backorder request for same domain, then the domain should go for auction).
2. Auction should run for 3 days imo.
3. Should support most of the online payments. PayPal and Credit card is must.
4. Apart from all the basic features, only additional feature should be "the auction should not go public in case there are more than 1 backorder request."

Count me in for Beta testing. I'm in.

Thanks,
Messiah

 

[S-B]

That's a good one @this_username_was_banned . Here is my opinion.

1. Backorder should be made free but make it so that the one who do backorder should have a minimum amount like ($5 to $10 in their account) in order to make a backorder request. This is because if someone who do backorder are bound to buy the domain. You can then add a fees of like $20 to $50 (If there are more backorder request for same domain, then the domain should go for auction).
2. Auction should run for 3 days imo.
3. Should support most of the online payments. PayPal and Credit card is must.
4. Apart from all the basic features, only additional feature should be "the auction should not go public in case there are more than 1 backorder request."

Count me in for Beta testing. I'm in.

Thanks,
Messiah

Ok. So you think backorders should be free until they are won. I think many others will share that sentiment.

It's starting to sound like many of you will want 3-day auctions! Good to know.

Multiple online payment options, check.

The auction would definitely not go public.

I understand that it would increase revenue but it just doesn't seem right to me.

Thanks for volunteering!

 

[Asfas1000]

1. How much should a backorder cost? Up to $25
2. How long should an auction run (3, 5 or 7-days)? 3 days
3. What is your preferred payment method (Paypal or...)? Whatever...
4. What are the most important features you need? Private auction - I believe the public auction - based model is a flawed business model

Count me in Shane !

 

[S-B]

1. How much should a backorder cost? Up to $25
2. How long should an auction run (3, 5 or 7-days)? 3 days
3. What is your preferred payment method (Paypal or...)? Whatever...
4. What are the most important features you need? Private auction - I believe the public auction - based model is a flawed business model

Count me in Shane !

All points noted.

I disagree that it is a flawed business model but I do think it puts USERS at a disadvantage.

Thanks for your input, Asfas!

 

[N-A]

1. Backorder should be made free but make it so that the one who do backorder should have a minimum amount like ($5 to $10 in their account) in order to make a backorder request. This is because if someone who do backorder are bound to buy the domain. You can then add a fees of like $20 to $50 (If there are more backorder request for same domain, then the domain should go for auction).

Actually pretty good. I'd deposit a certain amount in my account to count towards credits if success was somewhat guaranteed.

(success being catch rate, not necessarily the domain being guaranteed as mine)

 

[muttus]

I do agree with most here

1. How much should a backorder cost? Depends on your catching abilities but I think many domains are not ordered by drop catching services due to high price. 20-40$ seems reasonable for many domains. I also prefer not to prepay (but i do not mind to have my cc charged automatically if caught)
2. How long should an auction run (3, 5 or 7-days)? 3 days
3. What is your preferred payment method (Paypal or...)? I prefer CC or Paypal
4. What are the most important features you need? Ability to catch names, transparent closed auction environment where shill bidding is not existing, smooth interface with options to get reminders about auction development, ordering time close to drop

Count me for beta.

Thanks

 

[S-B]

Actually pretty good. I'd deposit a certain amount in my account to count towards credits if success was somewhat guaranteed.

(success being catch rate, not necessarily the domain being guaranteed as mine)

I also agree. I think that is more reasonable.

 

[S-B]

I do agree with most here

1. How much should a backorder cost? Depends on your catching abilities but I think many domains are not ordered by drop catching services due to high price. 20-40$ seems reasonable for many domains. I also prefer not to prepay (but i do not mind to have my cc charged automatically if caught)
2. How long should an auction run (3, 5 or 7-days)? 3 days
3. What is your preferred payment method (Paypal or...)? I prefer CC or Paypal
4. What are the most important features you need? Ability to catch names, transparent closed auction environment where shill bidding is not existing, smooth interface with options to get reminders about auction development, ordering time close to drop

Count me for beta.

Thanks

Automatic charging is definitely on the list. So no worries there.

Looks like everyone is in agreement that 3-days should be the auction length.

Both payment methods are doable and will be seen on the live site.

Reminders are also important. I'm glad you brought that up. I hate receiving a reminder after an auction has closed!

Thanks, friend.

 

[main]

Auctions should be transparent and show the bidders' aliases (unlike GoDaddy).

 

[S-B]

Auctions should be transparent and show the bidders' aliases (unlike GoDaddy).

I agree with you! Thanks for taking the time to help out.

 

[S-B]

Ok so here's what we decided (this could be subject to change if new information comes to light):

A preliminary estimate for the price of a backorder is $30.

We are planning on a 3-day auction format.

We can instantly transfer a domain upon receipt of payment.

We are thinking of accepting payments through Paypal, Credit Card and Escrow.com. The latter being for high value domains, to eliminate the risk of chargebacks.

Does that sound good to everyone?

 

[yogiDomain]

I like they way pheenix works.
Few Suggestions :
$15 -18$ fee if domain is caught.
Auction should be max 3 days. Increments starts with 1$ and will increment as the auction progress.
Payment through CC,Paypal or anything whichever can be trusted.
Pheenix interface needs lot of improment IMO, You need to have a good interface. Free Multiple backorders is must.
If a auctions winner doesnt pay the next highest bidder should be awarded the domain, it should not go in auction again.

 

[muttus]

I think this sounds reasonable and fair. If you will be able to catch 25% of requested domains - beating some of major players in the process on some occasions this format should work well. As i said in previous comment. 59 or 69 price tag discourage many people from back ordering since many domains may have much lower reseller price (increasing risk for future owners). Having lower price (30) should eventually bring lot more customers and we all know how bidding frenzy can makes domain prices to sky rocket. Let us know once beta is available. I would be happy to give it a try and share my thoughts.

 

[S-B]

I like they way pheenix works.
Few Suggestions :
$15 -18$ fee if domain is caught.
Auction should be max 3 days. Increments starts with 1$ and will increment as the auction progress.
Payment through CC,Paypal or anything whichever can be trusted.
Pheenix interface needs lot of improment IMO, You need to have a good interface. Free Multiple backorders is must.
If a auctions winner doesnt pay the next highest bidder should be awarded the domain, it should not go in auction again.

@yogiDomain

We really aren't trying to compete on price with Pheenix. In my honest opinion, they offer a substandard user experience.

Our pricing is based on undercutting the big boys in the industry. So far, the thread seems to agree that somewhere between $20-$40 is fair. Maybe one day we will be able to lower the price even more. It's definitely something we will consider.

3-day auctions are our goal and the domain shouldn't be re-auctioned if someone fails to pay. I will confirm with my partner though and update the thread accordingly.

Thanks for your input.

 

[S-B]

I think this sounds reasonable and fair. If you will be able to catch 25% of requested domains - beating some of major players in the process on some occasions this format should work well. As i said in previous comment. 59 or 69 price tag discourage many people from back ordering since many domains may have much lower reseller price (increasing risk for future owners). Having lower price (30) should eventually bring lot more customers and we all know how bidding frenzy can makes domain prices to sky rocket. Let us know once beta is available. I would be happy to give it a try and share my thoughts.

I will definitely let you know! Thanks for your input.

 

[Asfas1000]

Sounds reasonable to me...

If a auctions winner doesnt pay the next highest bidder should be awarded the domain, it should not go in auction again.

This can be manipulated (for instance, LLL.com auction, Bidder1 -> $100 , Bidder7 ->$30k , Bidder7 vanishes, Bidder1 gets domain for real cheap). The runner up should pay , say, at least 70% of the winning bid for the auction to stand.

 

[S-B]

Sounds reasonable to me...



This can be manipulated (for instance, LLL.com auction, Bidder1 -> $100 , Bidder7 ->$30k , Bidder7 vanishes, Bidder1 gets domain for real cheap). The runner up should pay , say, at least 70% of the winning bid for the auction to stand.

This isn't a reserve style auction though. For example, if bidder 7 bid $30,000 that would mean that the previous bidder would have to had to bid $29,900 (if the auction was at $100 increments at that point). Make sense?