Flippa domain experience...business/mortgages.com

[NickB]

Hello all,

Not sure if this the right thread...... BUT.......I would like to briefly outline my auction experience and see where I went wrong as the name did not sell.

Any feedback on the below would be greatly appreciated... If you read any of my older posts , I do believe in being open as it provides a platform for honest, constructive feedback and I think it's the best way to learn

I originally bought the name for just shy of £1,000 earlier this year (still think it is a good purchase price) It's 18 years old, says what it does on the tin and fits into a nice profitable industry....IMO!

This was my first Domain auction!

On Flippa I did not pay for the full "package" so to speak, just for an initial showcase on the front page - my posts and final stats are below.

"As there is only 5 days to go I am open to sensible offers.....feel free to message me!

This name will be pushed to your Godaddy account (if you don't have one it is very easy to set one up)"

Tue, 12 Jun 2018 15:22:50 AEST
"MASSIVE DISCOUNT now available for the last 48 hours!!

Have dropped BIN to only $12,000 (Originally 20k)
Reserve dropped to $10,000 (originally 15k)

There will be NO more price reductions

If this is not sold on Flippa I will be reaching out to banks, brokers and financial Institutions where a healthy profit can me made on this great name."


The auction on flippa ran out today - my final stats are below

$1,000
Current Price
Reserve: $10,000
0
Bidders
Total bids: 0
2
Comments
5
Watchers
317
Views
0
Discussions

************

Did I mess up on the quality of the domain name, my marketing during the auction, pricing or mixture of all 3?

Or any other variable?

I look forward to your replies

 

[golan]

It's impossible to say anything without knowing the name.

But in general, no one goes putting 10K reserve. Unless your domain is sex.com or crypto.com or so. It's just insane, no one is going to bid on this. For any buyer it's just waste of time.

 

[JudgeMind]

Is the domain businessmortgages dot com?

 

[golan]

Also, only 5 watchers - definitely speaks for the domain quality. Not in its favor of course.

 

[JudgeMind]

I’ve personally only had good success on Flippa selling at no reserve.

A big risk to take if I’m auctioning a name I paid $2,000 for but experience and knowing the true value of the name plays a big part in that.

If the name is strong, it will create a buzz of interest from bidders.

Other benefits to no reserve; the more bids the better chance of getting listed in the most active auctions category and there is actually a column now on the domain homepage for “reserve met” listings.

You don’t need to pay the $249 to promote your auction. Run it at no reserve. Buy the domain homepage upgrade for $49.. if this gets you some interest and bids then buy it again.. you may also want to buy the Flippa homepage feature if it’s a domain that’s drawing a lot of attention..

Some other things I do religiously is promote the domain auction on LinkedIn, Facebook, Twitter and email perspective buyers to inform them it’s in auction. All of this is a recipe for success!!

MARKETING IS THE KEY TO SELLING ON FLIPPA

PS - if you’ve got a really strong name, it doesn’t hurt to email Flippa and ask for it to be considered for ed choice!

 

[Kpett]

I have found Flippa to be a market for selling domain names to other domainers, not end users. Therefore, a name like business mortgages dot com just isn't going to attract other domainers to bid starting at $1000.

 

[NickB]

It's impossible to say anything without knowing the name.

But in general, no one goes putting 10K reserve. Unless your domain is sex.com or crypto.com or so. It's just insane, no one is going to bid on this. For any buyer it's just waste of time.

sorry the name is in the thread title..

 

[NickB]

Is the domain businessmortgages dot com?

yes

 

[NickB]

I’ve personally only had good success on Flippa selling at no reserve.

A big risk to take if I’m auctioning a name I paid $2,000 for but experience and knowing the true value of the name plays a big part in that.

If the name is strong, it will create a buzz of interest from bidders.

Other benefits to no reserve; the more bids the better chance of getting listed in the most active auctions category and there is actually a column now on the domain homepage for “reserve met” listings.

You don’t need to pay the $249 to promote your auction. Run it at no reserve. Buy the domain homepage upgrade for $49.. if this gets you some interest and bids then buy it again.. you may also want to buy the Flippa homepage feature if it’s a domain that’s drawing a lot of attention..

Some other things I do religiously is promote the domain auction on LinkedIn, Facebook, Twitter and email perspective buyers to inform them it’s in auction. All of this is a recipe for success!!

MARKETING IS THE KEY TO SELLING ON FLIPPA

PS - if you’ve got a really strong name, it doesn’t hurt to email Flippa and ask for it to be considered for ed choice!

Thank you for the detailed reply...appreciate your feedback

 

[JudgeMind]

Thank you for the detailed reply...appreciate your feedback

Best of luck with your future endeavours

 

[NickB]

It's impossible to say anything without knowing the name.

But in general, no one goes putting 10K reserve. Unless your domain is sex.com or crypto.com or so. It's just insane, no one is going to bid on this. For any buyer it's just waste of time.

Cool... lesson learnt by the look of it.

Will do some more research before my next auction - thanks for your feedback

 

[NickB]

Best of luck with your future endeavours[/QUOTE

Thanks, appreciate it!

 

[SuperDudePro]

In addition to @JudgeMind excellent reply, I don't think you did yourself any favors dropping that much towards the end. It sounded kind of desperate and wouldn't convince anyone that it was coming off the market for good.

All that said, I don't like flippa for auctions because I don't have anything I'd be willing to lose if I sold at no reserve and am not good enough to know what domains would be relatively sure to get action there.

I like flippa for picking up domains at almost no cost from people.who guessed wrong.

 

[wackawacka1]

I'm new to domaining myself and started out a few months ago selling some domains on Flippa that I had held for several years for actual websites in our businesses but blew through a lot of money paying for the upgrades. In many cases, the upgrades costed me more than the amount our domains sold for. I think some folks do hit gold on Flippa with really high value domains, but in most cases if you have the time you'll be much better off waiting for end users. I don't use Flippa anymore other than to see if I can swipe a domain at a low price. Whenever I check, I see a lot of trash that people have wasted money to upgrade (and that, not surprisingly, isn't hitting reserve). Lots of delusional folks with trash names and $10,000+ reserves. Seems to mainly be a big transfer of money from amateur domainers (like me, not too long ago) to Flippa.

 

[wackawacka1]

And out of the few domains I "sold" on Flippa, one of them was won by a buyer that didn't end up paying. Lucky for us in the long run, because it would have sold for way below value. And I paid for several upgrades with the final price not even covering the upgrades. Lots of sketchy buyers on there that don't end up paying. We declined the offer for the free re-list and will just sell the name on our own. Lesson learned though. I also have seen lots of shill bidding, and some domains that seem to continually get re-listed (and get the editor's choice every time) for months on end.