NameSilo

NameLiquidate.com Liquidation Platform (Official Thread)

Located in Domain Marketplace Reviews, started by DanSanchez, Mar 8, 2020

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  1. Mayaki Abdulhakeem

    Mayaki Abdulhakeem Established Member

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    Does NameLiq works only for domains registered at Epik?
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. Telodomains

    Telodomains Established Member

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    No. You can liquidate domains from other registrars.
     
  3. M0rd0r

    M0rd0r Established Member

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    Hi!

    I am wondering if could be possible to have the reserve price included as a feature in the csv file I can download on NameLiquidate? Or at least, not hidden on the website.
     
    Last edited: Jun 2, 2020
  4. KWNG

    KWNG Established Member

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    I’m a few months late in saying this: brilliant concept. Just haven’t had the time to research this. If this service was widely expanded in China then this would dominate. 😊😊😊

    I tried to find .cn domains in which none were available
     
    Last edited: Jun 2, 2020
  5. Grilled

    Grilled Black Lives Matter VIP

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    Issue resolved.
     
  6. DanSanchez

    DanSanchez Brokerage & Acquisitions Epik.com Staff VIP ★★★★★★★★★★

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    Any domain can be listed, so long as it isn't 15 days past expiration. You need a valid auth code and the domain unlocked for transfer. Feel free to DM me any questions!

    Not at this time, the reserves are a double edge sword for sellers and buyers. Sellers think they can get above their reserve, which may be true for a select number of domains that will attract more than one buyer. And buyers get comfortable when the domain reaches the reserve, a validation of their belief in a lesser valuation.

    We are in China, actively promoting to other registrars and marketplaces thanks to @MayC18 May Chen. Feel free to reach out to her if you have ideas on expansion specifically into the .cn market.
     
  7. MayC18

    MayC18 Established Member Epik.com Staff

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    Hi Karwai, yes we have Chinese domainers are already utilizing NL to do treasure hunting!! Feel free to let me know if you have any questions. You have my Wechat :)
     
  8. Grilled

    Grilled Black Lives Matter VIP

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    A great domain being promoted by RobbiesBlog.com feels a lot more like a nL BIN than a nL auction. I mean, bid amount must be greater than or equal to $995?

    upload_2020-6-4_12-8-14.png

    Others...

    upload_2020-6-4_12-13-44.png
     
    Last edited: Jun 4, 2020
  9. DanSanchez

    DanSanchez Brokerage & Acquisitions Epik.com Staff VIP ★★★★★★★★★★

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    Right, some sellers are realizing there is a sweet spot for aged stuff with reserves at the highest point. I encourage no reserve always, but listing with a 998 reserve gives you complete control to drop the price at your pace.

    The separation for some domainers takes longer than others. I respect that.

    Ultimately though, I don't want to curate the experience with my own perspectives of valuations. The beauty of the fixed cost liquidation platform is that buyers have standard expectation and they can freely jump on a listing at any point with a cost they know wont rise if they want to own it. Smart buyers are snapping names up quickly.

    I have been reaching out to some sellers manually this week to suggest aggressive pricing once their names get 5 or 6 hours on the home page. Some reserves are disconnected from the type of marketplace this is.

    A flat cost, high velocity marketplace.
     
  10. Grilled

    Grilled Black Lives Matter VIP

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    I get it.

    But with a reserve that is basically a BIN, it's more or less an auction, and more of a BIN similar to DNWE.com.

    Though, I suppose the advantage here, is the seller has complete control of the price throughout the auction. Is the thinking you can always list high and drop lower, but not the other way around?

    My only gripe with these $995-$998 auctions, is as mentioned earlier in this thread, at some point a nL change occurred, listing domains (with no bids) with a reserve ending soon on nL homepage. When in essence, because there was no bid, they aren't necessarily ending soon, rather, soon being moved to the bargain BIN, at the same reserve price. Making the time left stamp basically null, knowing there is an additional 7 days if no bids occur, when the domain will make its way to the bargain BIN for the reserve price.

    Thus, at this point, what relevancy does TIME LEFT have?

    upload_2020-6-4_14-58-58.png

    After 100 hours, I assume it will go to bargain BIN for another 7 days. So in essence, it's 100 hours left at "auction" before it goes to $995 "bargain BIN"?

    Current homepage: Only 2 of the first 6 are still dropping in price. (Or 1 of the first 5)

    The remaining 4 <$399, $399, $500, $85> will soon hit baragin bin for 7 days correct? So in reality there is 168+ hours for Pardonable available at $399, while CafeArchitect will be available for $15 for only 16 more minutes, and (if no bids) then at $9 for an hour on nL, then will be available for another 7 days in nL bargain bin for $9.

    upload_2020-6-4_15-11-35.png

    Then, once a domain has reached nL bargain bin, those with high reserves have a sortable metric advantage. Whereas the no reserve domains lose their viewing flare.

    upload_2020-6-4_15-21-32.png

    I don't understand. Can you elaborate?
     
    Last edited: Jun 4, 2020
  11. NicTraders

    NicTraders Top Contributor VIP Gold Account

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    I agree with the sentiments. From a buyer's perspective I am losing interest in NL as it is now full of listings with a $400 reserve which I might pay 10% of that on a liquidation platform (for example). The majority of domains I bid on have a reserve I wouldn't even consider paying, thus it's becoming a timer-waster. There is increased inventory but less at liquidation prices. As you point out - people are basically using it as another marketplace. Such a shame as the platform itself is a fantastic idea. I have said it before, and I'll say it again - the max reserve should be somewhere around the $100 or $200 mark in my opinion. This would solve some of the issues.
     
  12. Grilled

    Grilled Black Lives Matter VIP

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    I agree with all except

    Because, liquidation means different price points to different domainers. There are some with nothing but premium domains looking to liquidate. Those also bring in higher commissions, and attract more buyers with deeper pockets. So perhaps think twice before excluding that clientele.

    Maybe a fork could help this void?

    No reserve domains: All accepted
    Reserve Domains: Approval/Rejection process.

    ...

    Basically end up with:

    TopShelfDomains (reserve but worth it!)
    No Reserve Dutch
    Bargain BIN

    ...

    or some type of distinguishing fork so not to throw nail polish on the Picasso in the making. :penguin:
     
    Last edited: Jun 5, 2020
  13. NicTraders

    NicTraders Top Contributor VIP Gold Account

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    Yes, I absolutely agree. The potential problem with your suggested fork is that having someone undertake manual approval processes will increase the workload significantly, on a platform which Epik probably doesn't make too much out of. And of course if a name is rejected a seller will want to know why and will likely suggest another reserve $10 lower but still $200 too high.

    It is difficult. The 'one size fits all' platform doesn't quite work, but by the same token there are potential issues with the alternative.

    Of course there is a very good solution to all this. Domainers need to learn to value their domains fairly for a liquidation platform. Trouble is it will never happen. I can't count the number of times I've seen someone expecting to sell ThisIsTheBestDomainNameAndYouShouldOwnIt.com for $100,000, and I'm sure their bargain-basement liquidation price would be $995 on NL.

    The other option would be that only you and I can set reserves for our domains, and no-one else can set them. Not such a bad idea, but I can't quite see Dan going for that. ;)
     
  14. DanSanchez

    DanSanchez Brokerage & Acquisitions Epik.com Staff VIP ★★★★★★★★★★

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    I hear you guys, it has been frustrating for me as well. But it is in the learning curve and I believe it will be corrected by market feedback (aka not selling.) Also it is where education needs to be refreshed. My main focus with NL is to help domainers realize this is not a traditional marketplace and the reserve needs to be fluid. The minority folks using standing reserves are fine, because some are selling. But some other sellers are truly not capable of determining an accurate reserve, or if the domain should have a reserve at all.

    I have been reaching out to sellers individually in an effort to reassess their reserves during the times where the domains are on the front page. Also pushing with media (see tweet below) to try to help people realize that reserves should not apply to 99% of the domains you are considering for liquidation.



    Ultimately the domainers are learning, one seller at a time. Curating the marketplace is not the answer for one simple reason... The domains that I like vs the domains that are selling are not equal. Finally, this liquidation channel needs to be adopted as an organic step for every domainer.

    Buy, hold 11 months, liquidate or renew, retail, repeat.

    The separation for some domainers takes longer than others. I respect that.
    I mean that some domainers are not mentally prepared to let go of their domains. Perhaps we have all felt the same way at one point, it is a mental separation that needs to take place in order to release the inventory you are dropping without reserves.

    And that's exactly what buyers are looking for.

    The exception is obviously domains that sell for more, but the FOMO that no-reserve listings generate is real.
     
  15. NicTraders

    NicTraders Top Contributor VIP Gold Account

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    Good stuff Dan. Love your work.
     
  16. NameDeck

    NameDeck Top Contributor VIP

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    Since I addressed my issue publicly, I think it's only fair to mention publicly I bought the domain from Rob earlier today.

    Thanks for holding it for me for some time and giving me the opportunity. It's pretty amazing that a CEO steps in and helps me out in this kind of way.

    Since the name was already at Epik it was delivered to my account in seconds. Great experience and enjoyed the conversations I had with people regarding this purchase. You know who you are ;).
     
  17. karmaco

    karmaco Top Contributor VIP

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    $995 is not unreasonable for a good name and dropping names routinely go way higher than that. Sellers have every right to set whatever reserve they want and not give their domains away. I think the new options of a reserve are an improvement. Just because you aren’t willing to pay a certain amount doesn’t mean others aren’t. There is a difference between liquidate and bargain basement pricing.
     
  18. Grilled

    Grilled Black Lives Matter VIP

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    ☝ Agreed ☝

    👇 Though 👇
    I don't think the issue is with the amount willing to spend.

    The issue stems from everything flooding into one, and seemingly devaluing the default sorted by time left metric. eg. the heartbeat of a dutch auction.

    If you believe
    then there is an argument that nL should open up an exclusive liquidation to super premium domains, and allow those to be liquidated at $X,XXX or more.

    Almost as if it would be better for buyer and seller to start the super premium action at $10,000 and work down to $1,000. Then, at $1,000, the name goes to bargain bin for a week at $1,000.
     
    Last edited: Jun 6, 2020
  19. Robbie

    Robbie RobbiesBlog.com VIP ★★★★★★★★★★

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  20. Robbie

    Robbie RobbiesBlog.com VIP ★★★★★★★★★★

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  21. NicTraders

    NicTraders Top Contributor VIP Gold Account

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    Hi. If you want to highlight certain names on NL, THIS is probably the best thread to do it on.
    The Official thread which we're in, tends to be more for suggestions, support, etc.
    Cheers. ;)
     
  22. Grilled

    Grilled Black Lives Matter VIP

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    I don't understand.

    Is nameLiquidate suggesting we take full advantage of front-page listing time by setting high reserves on our liquid domains?

    <<screenshot removed by grilled>>

    I'd be happy to list lots of domains on nL with high reserves to take full advantage of front-page listings. But I thought doing so might be abusing the intent of a liquidation auction? 😕
     
    Last edited: Jun 9, 2020
  23. wwwweb

    wwwweb Top Contributor VIP ★★★★★★★★★★

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    Is there a way to set a watchlist on NL?
     
  24. DanSanchez

    DanSanchez Brokerage & Acquisitions Epik.com Staff VIP ★★★★★★★★★★

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    No, this user had strict BIN prices and slowly adjusted them down a little. He asked me to remove the tweet because of the embed, I fully respect his wishes. I just don't know why the tweet is still showing in your post.

    If you list with high reserves, it better be a good name. My point is that your domains are competing on quality, cost, and availability. If your domain quality is high, the reserve might yield a sale quickly with no-reserve, it is the most effective means of using NL.

    That is coming VERY soon, long overdue =D
     
  25. Grilled

    Grilled Black Lives Matter VIP

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    Ah, I missed that.

    I suppose that could be verified by comparing prices from my earlier screenshot to the now deleted tweet.

    Noted. <archive link and screenshot removed>
    The tweet is appearing because I archived, and screenshot it. <did more than post a twitter URL>

    To be honest, after reading excepts such as quoted below,
    I try to make a habit of archiving epik related comments prior to posting them.
    I don't believe the easier solution is to simply delete an old tweet. That way of thinking tends to escape accountability.
     
    Last edited: Jun 9, 2020

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