Fusu - Introducing Domain Auctions

[Mark]

A few members have already noticed this and listed items - But I have not seen an actual thread about this :

Dear Fusu users,

we are happy to announce the introduction of domain auctions to Fusu.
Fusu Auctions allow you to list your domains for sale and gain exposure to
the Fusu community of domain investors. We have two auction formats:

* Anyone can list a domain for a Standard Auction. Fusu does not require
domain ownership verification in this case, nor process payment, but
provides just the auction platform. We charge 1% of the reserve price.
* For Premium Auctions, Fusu verifies the domain ownership and acts as
escrow agent for the payment and transfer. The domain owner can choose
whether to hold the auction as pre-paid (the bidders have to transfer
funds to Fusu before they can bid) or post-paid (the winning bidder pays
after the end of the auction through Fusu). In both cases, Fusu charges
its signature 1% fee to the winning bidder and to the domain owner.

We hope that the new Auction system will add further liquidity on both
ends of the market spectrum: On the low end, small, lower volume auctions
so far were typically handled through forums. The Fusu Standard Auction is
a cost effective and easy way to hold an auction. For high end auctions,
where payment and transfer security is paramount, the Fusu Premium Auction
introduces for the first time in the industry pre-paid auctions,
effectively eliminating the risk of bidders not following through on their
wins.

Check out the auctions now - we start big with a no reserve auction of a
premium three-letter domain, HMT.com:
http://www.fusu.com/members/auctions/auctions

Happy Fusu'ing!

Your Fusu Team

PS: We also wanted to take the opportunity to say a big THANK YOU to you.
We have so many GREAT users who provided invaluable feedback and
suggestions over the past months, while being enthusiastic about our
service. Thanks - You rock!

Nice fees

 

[deleted984054565403]

Cool - I signed up. I really like their fee system. It keeps people from asking for crazy reserves.

My only problem is that this looks more like domainer-to-domainer sales. Potential end users might not be aware of this site as they are of the Afternics and Sedos of the 'Net.

 

[Ross]

Sold a domain there not to long ago through their auction system.

A+++

Very fast and attentive to whats going on!

 

[brandukraine]

Nice system, but without a plenty of users auctions will be quite miserable

 

[Mark]

The "Stock Exchange" portion of the site has actually caught the eye of several Top Domainers and others ... I wouldn't be so quick to dismiss what type Traffic/Visitors are going there and will see the auctions. Besides , Exposure for your domains for sale is never a bad thing

 

[-REECE-]

I think it'll have to be D2D -- there's no chance imho that a new auction site could start up today and end up with more members than Sedo (700,000+). Even with 1-2% commission, prices will likely still be lower than Sedo on expensive names (where Sedo's member base really benefits a seller) in most cases. Compete.com stats current approx 1% of Sedo's.

I think the fee system is genius -- people willing to set low/no reserve can list for near-free/free and people who want to set an extremely high reserve will have to pay 1% of an extremely high number.

That said, I do worry that encouraging low/no reserves could have 1 detrimental effect -- namely, an increase in non-paying bidders over what is seen at other venues.

Will be interesting to watch what happens in coming weeks.

Cool - I signed up. I really like their fee system. It keeps people from asking for crazy reserves.

My only problem is that this looks more like domainer-to-domainer sales. Potential end users might not be aware of this site as they are of the Afternics and Sedos of the 'Net.

 

[Ross]

When i had auction my name off over at Fusu.com they kind of have this escrow type system for "premium" auctions. It is free to use the premium auction system. Basically before the auction i transfered the domain over to a fusu.com account and then when the auction was over i was paid instantly.

That said, I do worry that encouraging low/no reserves could have 1 detrimental effect -- namely, an increase in non-paying bidders over what is seen at other venues.

Will be interesting to watch what happens in coming weeks.

 

[deleted984054565403]

When i had auction my name off over at Fusu.com they kind of have this escrow type system for "premium" auctions. It is free to use the premium auction system. Basically before the auction i transfered the domain over to a fusu.com account and then when the auction was over i was paid instantly.

I'm really glad you posted that, Ross. I just had a Fusu agent e-mail me asking me to transfer my domain. I've never heard of that being done before, but thinking about it some more, it sounds like it would be a great way to complete a fast transfer.

I was a little scared to have someone ask for one of my domains.

 

[Ross]

It speeds up the process after the auction is done. I mean litterally right after the auction was done i had the money and had no worry of the domain at all anymore.

If you are worried about chargebacks or anything it is impossible to get them as well. The way they pay you is with Fusu Credit and you can transfer that from fusu to your paypal. So in all reality you dont even deal with the buyer at all and your money and domain is 100% safe.

I think it is a good system but it will take a while to catch on because of it being new and with so many auction platforms out there right now. Although i would rate the platform itself in the top 3 and think once it catches on will be a great force in the domain industry.

I'm really glad you posted that, Ross. I just had a Fusu agent e-mail me asking me to transfer my domain. I've never heard of that being done before, but thinking about it some more, it sounds like it would be a great way to complete a fast transfer.

I was a little scared to have someone ask for one of my domains.

 

[Mark]

Thanks for the remarks Ross - Pretty helpful :tu:

 

[deleted984054565403]

One thing I'm slightly annoyed by is a limit of 5 auctions running at once. Hopefully that's just a testing thing, or maybe that will go away when I'm "verified" or something. :p

 

[Ross]

One thing I'm slightly annoyed by is a limit of 5 auctions running at once. Hopefully that's just a testing thing, or maybe that will go away when I'm "verified" or something. :p

Send them an email and find out. They are pretty quick to answer usually.

 

[domainer50]

Im not to familiar with the auction platform. But I bought 49 shares of some LLL.com 7 weeks ago, and the share price hasnt changed

 

[nicedomains]

I signed up with fusu recently and am looking into buying some shares possibly. I am curious about their standard auctions. I have started to get daily emails when a standard auction has been started. Seems like this idea to email all users when one starts an auction starts could certainly shed some light on auctions there..

Anyone else starting standard auctions there? I think they are $7 to start, it's 1% commission on top of that as well, correct?

 

[Ross]

I signed up with fusu recently and am looking into buying some shares possibly. I am curious about their standard auctions. I have started to get daily emails when a standard auction has been started. Seems like this idea to email all users when one starts an auction starts could certainly shed some light on auctions there..

Anyone else starting standard auctions there? I think they are $7 to start, it's 1% commission on top of that as well, correct?

When i did a premium auction they didn't charge me anything but the 1%. Never heard of the charge to start an auction on there.

EDIT:

Here are the auction formats, the one in bold is the one that i did:

Premium/Prepaid Auction:
The domain is reviewed and guaranteed by Fusu.
In order to bid, users have to charge their Fusu account with the amount they want to bid. This guarantees that the winning bidder will pay for the domain, but may have an adverse effect on bidding motivation.
Fusu charges both buyer and seller a 1% fee of the winning bid.

Premium/Postpaid:
The domain is reviewed and guaranteed by Fusu.
After the end of the auction, the winning bidders pays using Fusu as escrow agent, via Paypal or wiretransfer.
Fusu charges both buyer and seller a 1% fee of the winning bid.

Standard:
The domain is listed immediately for auction.
The domain is not reviewed or guaranteed by Fusu.
After the end of the auction, the winning bidders pays the domain owner directly.
Fusu charges 1% of the Reserve Price. If the domain owner choses an auction without Reserve, there is no charge.

 

[DNK.it]

I've started recently a premium auction at FUSU and domain is already at 1,500$, and I've seen some hours ago hmt.com at $20,500.00 with still 37m left ( don't know at what price is finished ), I think there are some big players signed at FUSU.
Really impressed by the support, the domain need to be verified before go to auction with a push on fusu account, this is good to avoid scam.

 

[nicedomains]

Yes, fusu does seem like they have thought through the potential problems of running auctions and have a good support system.