Is this a bad idea ?

[silversurfer]

Hi. I was thinking about setting up a domain name auction site.

My question to you all as domain name pros is would you use a new auction site like this where I would take a small cut (Let's say 5%) of the end sale value?

Or are there already too many similar sites out there? Sedo, Pool, Afternic etc.

The other downside is that all the domain name forums have sections where you can buy and sell domains without paying anyone a percentage of the end sale value.

There might be more of a market for end users rather than wholesale users.

I could probably get the site up and running for $200-300 and then have to spend some money advertising it.

If you would use a site like this, then what would you want included that you can't currently get? Features, options etc etc.

Is this a worthwhile investment of my time and money?

I appreciate all your thoughts.

Thanks

Shak.

 

[Jennifer]

It's hard Shak! There is an over abundance of auction sites out there, and only the elite make it! I would say place your bets on another horse because that race has already been won! IMHO

** I do have to add though... stranger things have happened! There's always a possibility that an auction site might take off, but it is very rare!

Much Success
Jennifer

 

[Raf]

You might have some success with starting such a site, however the chances of you getting potential customers would be quite unexpected (meaning you don't know for sure if they will choose the service or not). I would say that one thing people are mainly looking for is for reliable service as well as affordable prices. A 5% from the end-user sale doesnt sound to bad.

 

[DomainSage]

As ManicGirl says there are plenty of sites out there to sell off your domain names ( quite a lot are free ) .... Might be worth looking at launching an auction for a niche market of domains. For example you could just list medical domains.

All the best

Richard

 

[Raf]

You also might want to make some features that other sites don't have, that usually brings attention to other potential customers.

 

[marcuss]

I think if your domain auction site got anything unique and special feature - then you would have a chance to make it. if its just another auction place I think its really hard because its easier to stay with something that works.

my opinion would be not to jump on the project before you've found that unique special feature that would attract all the users/visitors that would make your work pay off.

however, whatever you decide, good luck!

 

[Coastalguy]

You would need a nice high profile sale generated from your site. Maybe a $xxx,xxx name. That would certainly get people's attention. Or have your site endorsed by a high profile domain name player. That would help. There are always people looking for the right place to list their names and see them sell but like it has been said previously...there is lots of competition out there.

Good-luck with it if you decide to give it a go.

ST