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Josh Reason's Domain Name Wholesale Exchange DNWE Marketplace

Located in Domain Marketplace Reviews, started by Lox, Feb 12, 2020

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  1. wot

    wot Top Contributor VIP ★★★★★★★★★★

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    Yes, the .io are quite weird. Submitted 2 .io that were actual country names reserved in most extensions at mid $xxx and they were rejected!
     
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  2. Josh R

    Josh R Josh.co PRO VIP ICA Member

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    Hi Ryan -

    We will look to add a payment method filter. That makes sense to me.

    I'll loop in @jstenn13 on the submission tips. He tackles 99% of our submissions at the moment.

    I think he does a fantastic job at curating the marketplace and he's always happy to help users with questions around the approval criteria and process.

    Josh R
     
  3. Josh R

    Josh R Josh.co PRO VIP ICA Member

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    Would you mind sharing the domains?

    I haven't seen even the most popular country names sell very well in .io to be honest so I can see why they may have been rejected.

    We've obviously collected quite a lot of data on what sells at what price point across external and internal platforms.

    For .io in particular it really needs to be a 1 word "brand" or popular name/brandable that can be used as a brand.

    "Liquid" .io names will normally have dozens of companies already using that exact match brand for their company name and for .io in particular you typically want it to work as a "techie" brand.
     
    Last edited: Jun 1, 2020
  4. wot

    wot Top Contributor VIP ★★★★★★★★★★

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    One was a one word country name but did not meet the criteria, the other was a long one so understandable. You have you standards/requirements no problem for me.
     
  5. ddfenton

    ddfenton Established Member

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    I've also seen some clinkers - some obscure scientific .nets and retired company names (a couple still alive with international extensions, and one seems trademark vulnerable), a 19 letter three word .com (dropped or deleted name) with the Estibot value "Very Long: Domains longer than 15 characters are not as memorable" greyed out, domains held by or procured by Drop Catch, some specialized, foreign location names, a few generic .coms with all the extensions available, and the list goes on.

    This wouldn't be a big deal if this was a comprehensive offering but this narrow and perhaps undeservedly elitist selection serves neither seller nor buyer.

    I noticed a Dan listed name at over $4k listed at $299, demonstrating that prices are what someone will pay. I submitted a couple of old one-word dictionary names I was surprised to see "weren't worth $299." The rejection letter should be reworded, especially for a such subjective call.

    I am disappointed because I thought this was an opportunity for wholesalers to sell to wholesalers but the curated element seems exclusionary, too limited, and the metrics (if any) make no sense. It keeps everything the same old, same old.

    The rotation moves slowly. I've not observed more than a couple of the 150 names (give or take) sell. The inventory can still be selective at 300 - 400 or up.

    As an aside – what's the allure of paying more at a drop catch or a registry auction than directly to a seller on, say, NamePros or Epic? If this industry doesn't support the "little guy," everyone is going to lose – IMHO.
     
    Last edited: Jun 2, 2020
  6. NLP

    NLP Top Contributor VIP ★★★★★★★★★★

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    I recently purchased by first domain on DNWE - a 1999 two-word .COM that's specific to an industry, but is a category killer for the businesses in that industry. It's clearly one the seller was looking to get rid of, but I was more than happy to snap it up (it's 19 characters and was recently expired, so it might be the one you're referring to. Although this name is two words, not three).

    Payment was handled via Epik, with a few emails to confirm things. The process was easy, and was over in 2 days. I think the platform can be competitive as it grows and evolves.

    I've also seen a few headscratchers listed — specifically one pretty egregious typo, and a few .io and .CO that didn't seem that exciting. Nothing at all listed under "Others," which prompted me to ask Josh S. if they were accepting and planning to list .ME, .TV, or other extensions (he said they would).

    One of the hardest things about launching any new marketplace is making sure there's enough supply — and you're right that when there are so few names, investors have a lot of places they could turn to instead.

    As more people become aware of it, and they get more submissions, I'm sure there will be better quality and variety. I haven't submitted any names yet, but I plan to.
     
  7. Kassey Lee

    Kassey Lee Grandseeds.com VIP ★★★★★★★★★★

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  8. ddfenton

    ddfenton Established Member

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    There don't seem to be enough names there to justify a bulk search. I don't know why the "quality control" is so stringent, albeit inconsistent- perhaps less is more, but there's not enough there to need to check on it much as a buyer and won't be floating any new names out as a seller. The tone and impersonalness of the form letter belie the size of the inventory, and a business that is building may regret not putting more effort into relationship building and appearing more welcoming, Ostensibly, most of us will be replenishing, with perhaps more desirable stock. It is possible to be both discriminating and inviting - or at least not dismissive. To have a more professional decision letter shouldn't take extra time. And I know this is the second time I'm saying it - it's opening the floodgates giving a reason for a turndown based on "quality" and not being worth $299. "Not what we're looking for," is sufficient. Sedo has a pretty good wording of what they look for, as I recall. It's specific but avoids seeming judgemental. I'm sure DNWE works for some and maybe will better serve the community as a whole as it gains traction. One good thing - you weren't kept in suspense long - even during the weekend. The decisions were quick - maybe too quick :).
     
  9. X7 Ryan

    X7 Ryan Owner, X7 Media Gold Account

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    @Josh R

    Is there a way to appeal a decision or is it final?

    I just had a name approved but I asked to list it at 999 based on comps I found. And while it was approved it was only approved at 299. Thats flat out a joke. Its one thing when that happens to a name i was trying to sell and 399 or even 499 but this is a HUGE difference.
     
  10. Josh R

    Josh R Josh.co PRO VIP ICA Member

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    What’s the name?
     
  11. Josh R

    Josh R Josh.co PRO VIP ICA Member

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    We get hundreds of submissions that are MANUALLY reviewed every single day by @jstenn13 - You’re getting free appraisals from someone that owns some of the best names in the industry and knows the wholesale market VERY well.

    Anyone who feels a decision is unjust, I would suggest posting the name in this thread and the price you submitted it for. For now we’ll take another look at all submissions IF they wish to appeal them inside this thread (must be visible to all).

    We’ve made a few exceptions in the past and the names never sell but we continue to go above and beyond to cater to as many people as we can. When evaluating domains it’s obviously somewhat subjective but also massively based on data which most people don’t really look at.

    We’ll continue to base our curation on wholesale data and commercial application which has resulted in extremely high sell through rates with dozens of well regarded buyers and sellers using the platform actively on a daily basis.
     
    Last edited: Jun 4, 2020
  12. Josh R

    Josh R Josh.co PRO VIP ICA Member

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    What metrics do you use to determine wholesale value? I would venture a guess that we use a lot more data/metrics than you do but I’d be happy to be proven wrong.

    Any examples of some names you’re disappointed with being rejected?
     
    Last edited: Jun 4, 2020
  13. Josh R

    Josh R Josh.co PRO VIP ICA Member

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    When a user submits a name that we believe has a wholesale value below $299 then our message is the following:

    Thanks for your submission. Unfortunately, this domain does not meet our quality requirements. We don't feel it has a current liquid value of at least $299.
    Unfortunately "Not what we're looking" doesn't suffice because people want to know why. I know this because our decline message was very similar to what you said when we initially launched and people wanted to know why..

    I wish we could be more personal with 1000+ users and over 100 submissions per day but that's impossible as well. I guess we could charge for submissions but I'm assuming nobody wants that.

    I want to make sure it's clear that we are 100% "judging" domain submissions so if it comes across as judgemental, I can understand why, but It's nothing personal.

    I also want to make sure it's clear that we are NOT always right. Sometimes we decline names that are borderline. Sometimes we accept names that are borderline. Sometimes we price names too high. Sometimes we price names too low... At the end of the day, the user has the choice of whether they want to publish the domain or not.

    DNWE is just a resource for investors. The best thing about an additional resource like DNWE is that you don't have to use it if you don't want to.

    @MediaCode has bought and sold DOZENS of domains with us. We often decline his names. We also reprice his names frequently and if he doesn't like the pricing then he doesn't publish them. That's fine.

    Again if we don't think your domain has liquid value of at least $299 it's not personal. We have a highly curated platform that has shown significant value to serious investors. If you don't think myself of @jstenn13 have the knowledge/experience to curate a wholesale marketplace then you definitely won't like DNWE.

    If you want to have success on DNWE then you HAVE to know the wholesale market and you can't be blinded by love for your own domain names ( we are all guilty of this from time to time).

    If you don't follow the wholesale market then it might be difficult to comprehend some of our decisions - Especially if you're using tools like Estibot to determine value..

    Finally - If you don't like the idea of a highly curated wholesale marketplace for investors then DNWE is not the place for you.
     
    Last edited: Jun 4, 2020
  14. ddfenton

    ddfenton Established Member

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    “If you don't follow the wholesale market then it might be difficult to comprehend some of our decisions - Especially if you're using tools like Estibot to determine value..”

    NamePros follows the wholesale market. Like all markets, it is mutable – and I probably DON’T understand it, but I've read a lot about what (some) wholesalers look for in a name. If your decisions aren’t determined by profit and loss speculation, then you are correct - I don’t comprehend them.

    As far as Estibot, I thought EVERYONE uses it to some extent as a go-to metric and dismisses it to a large extent. And let's be clear - wholesalers at what level? I was there looking at spending no more than $500 - probably under $400.

    In terms of inventory selection, of course, it's not personal - business isn’t supposed to be. But I meant to say personable, not personal when referring to the rejection notices :).

    It's a given that a name is turned down because someone has determined it won’t garnish a minimum of $299. That's not a reason why, which is why I objected to it and thought it problematic. If someone submitted a godawful domain name that you thought would SELL, I imagine it would not be turned away :).

    If the site is getting over 100 submissions a day, the slim pickings are by design. Fair enough.. some people seemed to think it wasn't generating submissions. I absolutely welcome a curated market - however lean.

    Why should I doubt that you have the experience and knowledge to curate a wholesaler market? Especially if the wholesalers are affiliates and their preferences are known or predictable. Which is what I took umbrage with. Name Drop has multiple platforms to sell on. I hoped DNWE would provide an opportunity for people and companies with less exposure and available resources.

    I think there's room for another curated wholesale market that has more names and is open to different domain extensions and more eclectic choices (ie - I saw no AI, 5G, VR - maybe those are too faddist or there aren't enough quality submissions).

    I appreciate your responses and wish DNWE great success - I see no reason why it won't be.!
     
    Last edited: Jun 4, 2020
  15. Josh R

    Josh R Josh.co PRO VIP ICA Member

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    I love how in depth you are :)

    I’ll keep it short, but we will likely cater to a wider range of names soon ($99-$298).

    We are looking into a solution with DAN that will assist in automation so we’ll be able to do a lot more transactions at the lower end of the wholesale market.

    Thanks for your participation in this thread :)
     
  16. wot

    wot Top Contributor VIP ★★★★★★★★★★

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  17. Don Gondon

    Don Gondon Established Member

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    Would be great if there was a way to show / highlight / sort by the domains you haven't seen yet.
     
  18. ddfenton

    ddfenton Established Member

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    "And you can't be blinded by love for your own domain names" - how true. Otherwise, how could you liquidate them :)?
     
    Last edited: Jun 5, 2020
  19. ddfenton

    ddfenton Established Member

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    I think the pricing leaves a lot of room -- I'm guessing the ask would be at about 1/4 -1/3 of (the realistic) retail value? It's more the extensions and novelty type names that could use representation. I didn't submit any naughties (mylabia.com - also my guess is that it would fall short of the $299 bar), cannabis or extensions not captured on namebio.com (map.srl)...
    Come to think of it, maybe the lower price point is a factor. Well, I am neither knowledgeable or experienced enough to curate a wholesaler market.
    By the way, I think it's great that you're partnering with different entities.

    Thanks!
     
  20. MediaCode

    MediaCode MediaCode.com VIP ICA Member

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    My success in domain investing mostly took off when I learned to ignore Estibot and GoDaddy valuations, especially when I sold domain names to end users for far more than the valuations spit out by algorithms. Ultimately, you have to go by your gut, your perceived price sensitivity of target buyers for each name. Mom and pop buyers are far more price sensitive than large, global corporation buyers. Names that appeal to different target buyers will have different gut valuations. A large, global corporation is dealing with profits in the billions USD. What's $100,000 to them? It's a rounding error. To mom and pop, it's mentally, if not financially, insurmountable. One is far more easy to get a deal done with.

    When you focus on the 'highest and best use' of each domain name, you're typically looking at a well-funded start up and/or a large, global corporation as the target buyers and you're typically looking at a one-word or a brandable. Or, really strong two words in .com that have strong commercial appeal at a global level (i.e., simple English words that are easy to spell and have positive connotations for people all over the world). Something like OpenBank.com (just an example). Estibot says it's valued at only $56,000. If I owned it as an investor, I wouldn't accept anything less than six figures for it. Alas, it's moot point – an end user already owns and uses OpenBank.com so it's not for sale. But, my looking up the valuation at Estibot.com was a waste of a good 15 seconds of my time. That's true for most domain investors as well.

    Get to a point where you can value domain names based on gut feel. Automated valuation tools simply pump out misinformation and can lead to malinvestment. You'll also save a lot of money because you will pass over far more domain names than you did in the past because you won't see those domain names as worth your time, effort, and scarce investment capital. Your gut will be telling you, 'why bother'?
     
  21. wot

    wot Top Contributor VIP ★★★★★★★★★★

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    Sold another name via DNWE.com and Epik Escrow. 10% of those submitted have been sold.

    Today sold two names that were rejected as having value as under $299 a few weeks ago, sold each for $1400.
    Had previously sold another rejected name for lowish $xxx so something is wrong with the selection process-thank goodness. :xf.smile:
     
  22. Josh R

    Josh R Josh.co PRO VIP ICA Member

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    *wholesale value* :)... Names we reject can certainly be sold elsewhere. Especially if sold at retail.

    Hand regs sell every day for $x,xxx on platforms like BrandBucket and SquadHelp. Doesn't mean we should accept them on DNWE for $299+.
     
    Last edited: Jun 16, 2020
  23. Rhinnnn

    Rhinnnn Established Member

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    Does DNWE send email notifications when names are approved?

    I know there are no notifications when names are rejected (which makes sense).
     
  24. wot

    wot Top Contributor VIP ★★★★★★★★★★

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    Yes, they will also show rejected /accepted on your interface.
     

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