Epik

Marketplace with PayPal payout?

Located in General Domain Discussion started by richtrading, Jan 9, 2019.

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  1. richtrading

    richtrading Established Member

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    9 Jan exchange rates.

    We sell via Escrow.com but get hit for the USD->GBP currency conversion cost. 2.7% (1.30 USD -> GBP). Costs us $20 for the payout bank transfer.

    PayPal also give us 1.30 USD ->GBP (today 9 Jan), but at least they don't force us to convert it every time.

    Today's spot rate is actually 1.27 USD ->GBP

    Example Escrow.com transaction fees.

    2500 USD

    If Escrow Concierge:
    If buyer pays by wire transfer or check $162.50
    If buyer pays by credit card or PayPal $238.75

    WITHOUT Concierge:
    If buyer pays by wire transfer or check $81.25
    If buyer pays by credit card or PayPal $157.50

    Quick sum, assuming buyer pays PayPal, no concierge, and bank payout.
    PayPal: $157
    My bank: 2.7% of (2343 USD): $63

    Net in USD is[​IMG] $2280

    Escrow.com has cost me 9% fees.

    Afternic I believe charges me 20%.

    I'd like to get these fees lower!

    [​IMG]
     
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  2. frank-germany

    frank-germany F1lter.com xpired domain search engine Gold Account VIP

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  3. alcy

    alcy Active Member VIP

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    undeveloped is great. they take 9% fee
    but you pay nothing to get paid out to paypal (mass payment).

    so basically this means you pay undeveloped like 4% fee.. versus receiving buyer paypal payment directly to you (not recommended).. which would cost you round 5%.

    as far as I know escrow.com has no paypapl payout at all. at least not to canada.
     
  4. alcy

    alcy Active Member VIP

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    epik now charges a sale fee on their market... since 2 months. and their external escrow costs too.. with a really bad 75$ fixed rate min fee regardless of price.
     
  5. richtrading

    richtrading Established Member

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    Hi Frank, do Epik support paypal payout?

    Just to add, Escrow would be 6.3% if I didn't get stung for the 2.7% USD conversion fee my bank imposes.
     
  6. frank-germany

    frank-germany F1lter.com xpired domain search engine Gold Account VIP

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    I think they pay me via paypal
     
  7. golan

    golan Leo.Domains Gold Account VIP

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    +1 for Undeveloped. And it's only 5% if you import a lead.
     
  8. thekiller

    thekiller Active Member VIP

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    +1 for uniregistry, they charge 6.88% if you negotiate yourself. BIN commissions are 10%.

    Their payout is also fast, most of time received within 48 hours.
     
  9. richtrading

    richtrading Established Member

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    Is that payout via paypal?

    Escrow is only 4% if buyer pays via bank-transfer, or 7% if buyer pays via creditcard/paypal.
     
  10. thekiller

    thekiller Active Member VIP

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    I never got payout via PayPal, but I was referring the good rates I'm getting from them on currency conversion. I do receive via Wire Transfers.
     
  11. Crypto King

    Crypto King RFQ.com . UY.net . Peculium.com VIP

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    I tried to use Escrow.com with payout to a transferwise account (they give spot rate conversions and you can get create accounts in multiple currency for recieving). However, Escrow.com did not allow me to use that even though the account was in my name.

    I was planning on doing this:

    • Payout from escrow.com to USD account with Transferwise (no exchange rate as same currency).
    • Then use Transferwise to convert from USD to GBP where they will use the spot rate but charge a small fee of like 0.4%.
    • Draw out money from the GBP transferwise account to my bank account (no exchange rate as same currency)

    so for example if it was a $10,000 net payout (after escrow.com fee) the conversion to GBP would have only cost $40 as opposed to $270

    It is not huge saving but if you are talking about $50,000 then it starts to add up --> $200 as opposed to $1,350
     
    Last edited: Jan 9, 2019
  12. richtrading

    richtrading Established Member

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    That's a great idea you tried. I wonder if Revolut would work?
     
  13. biggie

    biggie Top Member VIP ★★★★★★★★★★

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    Hi

    why not ask buyer to pay fee

    or

    increase your prices to net more cash

    also, if you pay taxes, then fee's and commissions are deductible as expenses


    imo....
     
  14. alcy

    alcy Active Member VIP

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    i dont know since when but uniregustry now charges mib 175$ on all sales.

    which is beyond greed and disgusting..beating even the awful min 60 fee on sedo.

    so sell a name for 200 on unireg and u get 25...


    i will never use them. they are pure greed..on all levels...monthly plans now etc
     
  15. Crypto King

    Crypto King RFQ.com . UY.net . Peculium.com VIP

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    I think that is only for brokered deals. For seller negotiated, the commission is 0.

    upload_2019-1-9_16-12-39.png
     
  16. alcy

    alcy Active Member VIP

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    i think u are right...but i always smell some fishy detour try from unireg to get my leads to brokers.. even when i set it all to selfbroker..anyone else get this weird feeling.... i feel taken for ride each time i get lead there or get broker msg..like bad vibe i get nowhere else ..
     
  17. Crypto King

    Crypto King RFQ.com . UY.net . Peculium.com VIP

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    I did get a lead there recently, through domain tools apparently (syndicated lead) which means commission is 20%. Feels way too high.
     
  18. Bob Hawkes

    Bob Hawkes formerly MetBob NameTalent VIP

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    I have many sales on Namecheap Marketplace - it only works for domains registered there though. You can withdraw to PayPal but only once your amount withdrawn is at least $100. They do not charge PP fees per se, but depending on your country PayPal may. You can use smaller amounts to pay for domains or other services at Namecheap. Their commission is a flat 10% with a $5 to $1000 price range.

    As others have already noted Undeveloped pay quickly without payout fees via PayPal. They charge 9% commission in general (lower rate if you bring your own lead).

    Bob
     
  19. alcy

    alcy Active Member VIP

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    do u have some secret trick to yer many nc sales..or its just good names at good prices? i ask cause i never heard anyone having great success seling on nc market...ty
     
  20. Crypto King

    Crypto King RFQ.com . UY.net . Peculium.com VIP

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    Good question! I have a 3 letter.com registered at NC but I think the max you can list at is $50K and I want more than $50k for that name :) ... Unless I'm missing something?
     
  21. Bob Hawkes

    Bob Hawkes formerly MetBob NameTalent VIP

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    I am not sure if I have true secrets. I think it is mainly that it is a good place to sell domains you are willing to part with at bargain prices. If I am unlikely or unsure whether to renew, I always list my NC domains there. I also list during the first 60 day period before I list on Undeveloped/Afternic etc.

    Here are my hints...
    • It seems to me that it is best for sales in the $$ range. I have had the odd lowish $$$ but rare.
    • Maybe it is me, but it seems to me a better place to sell ngTLDs than legacy. I have tried both and sold about 30 ngTLDs, a handful of general country code (mainly co), but never a legacy TLD.
    • It's a pain, but listing for short period and then relisting will get you nearer the top more often and most of my sales happen when a listing is about to expire.
    • Most do not, but I almost always include descriptions with my domain names (I keep a master file so can copy and paste the text easily when I list)
    • Perhaps the most effective thing you can do is when I have the BIN place the NameCheap marketplace I set the DNS forwarding so that if someone enters the domain name it goes immediately to the for sale page at NameCheap Marketplace, i,e. it becomes the lander.
    • I have links both to all my NCM ones, and individually for domains, from my own website. I occasionally use social media to indirectly promote a name (very rarely).
    If I was asked what is most important it would be price aggressively, use shorter listing periods and make it the lander for your domain name.

    Most of the time I do not use it for my domains that are priced above $200 (except for first registered ones).

    Bob

    PS I need to update it, but some months ago I did write a detailed post re selling on the NameCheap Marketplace.

    PPS I also meant to add as a tip that the closing time probably matters. It probably depends on the type of domain, but early morning (North America time) closings seem more often to sell for me. You do get a contacts change notice, so I can sometimes guess where buyer is, or sometimes the name gets developed. I don't see much of a trend, with some sales definitely to Asia, some to Europe and some to North America. Of course stats for one person pretty meaningless.
     
    Last edited: Jan 9, 2019
  22. Bob Hawkes

    Bob Hawkes formerly MetBob NameTalent VIP

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    I don't think you can even list it, maybe with special permission, at that price range but in my opinion it is NOT the place to list domain names that are at all near that price range. For those I would definitely consider mainly Sedo, Afternic and Undeveloped.

    Bob
     
  23. richtrading

    richtrading Established Member

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    There's a real opportunity for an entrepreneur to set up a domain Escrow company for low fees, eg 2%. They could dominate this market and make eg $160 for every $8000 sale.

    Is there an appetite for such a service?


    I also think about just accepting payments directly, if buyer trusts me, that also works well and saves all costs.

    How often do you get buyers prepared to wire you $8000 directly though?
     
  24. frank-germany

    frank-germany F1lter.com xpired domain search engine Gold Account VIP

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    it's standard in Germany
    when you send an invoice as a business
     
  25. Crypto King

    Crypto King RFQ.com . UY.net . Peculium.com VIP

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    Germany is awesome
     

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