New marketplace launched - Freemarket.com

[Domainor]

The new owners of the Warrior Forum have launched a new website/ domain marketplace at Freemarket dot com. They claim that it was created as a solution to the problem of high fees and minimum commissions charged by Flippa. It is free to list and when you sell a website or domain they charge a 5% commission after sale.

I think it is a good thing since it creates more options for sellers and more exposure for domains/ websites but it will take some time for it to pick up, especially when there are established marketplaces for domains like the one right here on Namepros. When it comes to selling websites, Flippa has carved a niche for itself.

 

[DU]

Payments.com

2 bids of over 1.500.000

Reserve not met.

Any more bidders

 

[N-A]

I just noticed something on FreeMarket.com about Payments.com. The bid is currently at $10,005,291. Another investor could just come around and snipe the auction for just $5 more ("Enter your bid of at least $10,005,296 USD.").

Take note of the increments for live auction on the domain name Ad.com (which fell through). It has increments of $25,000 before it hits the $1 million mark, at which point they are increased to $100,000 (and "sells" for $1.4 million).

This is how live auctions on items with reserves are treated. Free Market should treat Payments.com the same way. You would expect increments of $250,000+ at this point and not $5.

Of course a serious investor won't snipe an auction for $5, but you never know and someone could win it with a mere Lincoln.

I'm wondering if a $5 bid was placed, would the auction extend and by how long? I would also like to know if it's invite only at this point to participate in as it has such a high price tag now. If that's the case and the Prince of Dubai just got word of this domain 30 minutes before it ended, could he have enough time for clearance to place a bid (as there are 12 bids)?

Sedo has domain name bidding certification levels for names above $10,000 (proof of identity) and $100,000 (deposit of 1000 Euros for as long as there are no current bids placed at or above $100,000).

Would proving he was the Prince cause him (or others) to miss out on a purchase?

I would also like it to beat the Guinness World Record for Sex.com so that it would be in every local to international news outlet; and not only Forbes or industry related publications, setting focus on the king (.com) and away from gTLD's for the time being. This would be a major plus to gTLD speculators to get names cheaper than "premium" pricing as well as .com investors to increase perceived value in .com domain names from prospective end users. A win-win scenario for both kinds.

Do I hear $10,005,296?

 

[inforg]

Would be nice if they had a bulk listing option.

 

[ramkumaritrvs]

still they don't have option to verify via email for domain listing

 

[Nattydomain]

Sounds good BUT I have been on WF since 2009 and the feeling about domains there is not what you think. Many dont like "domainers" (even though many sell ebooks about them there) but I should say they are not many if very very few who feel the need to spend good money on a domain. Many there are OK with like using a domain with words in front like THE or BEST or some other word in front of a keyword rather then spend the money for the real deal.

What I am trying to say is I dont feel any big sales will come from this platform if a majority of the traffic or promotion is from WF

 

[iowadawg]

I will just wait until they are 100% up to snuff.
So, sometime in 2015, I will post some domains there.

 

[RogueWriter]

Their tag line is a little misleading, imo.... "Helping Millions Of Entrepreneurs Like You Buy And Sell Websites".... it makes it sound like they have had millions of happy customers. Which I do not believe, not for a moment.

 

[The New Guy]

I was going to cite law as it applies to reserve auctions in 49 states, but does not apply to online auctions. It's just kinda ludicrous to not increase the increments as the price increases. I think the only online auction model that follows this is eBay (to an extent).

Ebay has some rather ridiculous patents on auctions - not sure if this is part of the reason.

 

[Joseph Green]

Quotes by Ron on Warrior Forum:

So my auction ended...

No notification by email that it ended.
No notification that someone had hit the buy it now PRIOR to it ending.
I only saw it because I went to the page and looked.
I accepted the buyitnow, still no notifications as to whether the buyer has paid or not.

To add to this, the "buyer" commented that he didn't actually hit the buy it now, he was just trying to bid to my reserve (about half of the buy it now price). I have no way of contacting him other than posting comments on the listing. When I try to visit a user with the same name on freelancer.com it says the account is closed.

Not only should freemarket.com not have been launched, it doesn't even qualify as BETA ... this is an alpha release at best. Send me my $45 back, what a waste. The "premium" spot was off the page after the first day, what good is a highlight if no one can see the listing anyway, and the high bidder's bid wasn't registered except as a buy it now at twice the price he intended? Jeez...

 

[FX]

cheers- I'll take a peak

FX

 

[lennco]

still they don't have option to verify via email for domain listing

It looks like a great market place, I love the layout, but without Domain/Website Verification this will be a criminals paradise.

The bad guys will come out in droves and try and sell everyone's domains and ripoff off many, many buyers.
I will stay away until Verification can be implimented.
Until then I will look for many horror stories to unfold.

 

[ramkumaritrvs]

It looks like a great market place, I love the layout, but without Domain/Website Verification this will be a criminals paradise.

The bad guys will come out in droves and try and sell everyone's domains and ripoff off many, many buyers.
I will stay away until Verification can be implimented.
Until then I will look for many horror stories to unfold.

Yes, I agree.

I just listed my website without any verification and it's now for sale. so there is a chance to list google.com for sale :P

they have verification system for domains by cname (or) file upload. Whois email verification is not yet launched(IMO).

active verification system(cname & file upload) is hard to complete because i'm parking all my domains.

i liked too their simple layout and easy to navigate.

just received email from flippa about their domain catalog listing fee is reduced.

"Effective immediately, our Catalog fee structure has been revised:

• the OLD fee structure for selling a domain in Flippa’s Domain Catalog was a 15% Success Fee, with a $60 minimum;
• the NEW fee structure is now a 10% Success Fee, with a $10 minimum (congruent with our auction marketplace’s fee structure)"

Good Competition will help to domainers

 

[Domain Brokers]

They require verification to list, but it will be a shills paradise, two bids already over 1M+ on Payment.com

Not likely. IMO

Anyone can make shill bids, that's the problem, so if you know the reserve and TOR some IPS to make shill bids you can make it look like false interest in domains IMO.

To actually bid on a 100K+ domains you need a strong verification system.

So they may be like Flippa without the listing costs, but I doubt it will be a big name marketplace to sell valuable domains. I don't think the type of traffic it has or that FL or WF has is the type that has large money to dish out on major assets.

Time will tell

 

[iowadawg]

Warrior forums has the money, can get more money, to do what they need to do.
Will list a few domains there just to see what happens.

 

[verbster]

They require verification to list, but it will be a shills paradise, two bids already over 1M+ on Payment.com

Not likely. IMO

Anyone can make shill bids, that's the problem, so if you know the reserve and TOR some IPS to make shill bids you can make it look like false interest in domains IMO.

To actually bid on a 100K+ domains you need a strong verification system.

So they may be like Flippa without the listing costs, but I doubt it will be a big name marketplace to sell valuable domains. I don't think the type of traffic it has or that FL or WF has is the type that has large money to dish out on major assets.

Time will tell

To see what is required I just listed a domain. They first sent an e-mail to the address listed in the whois. I had to click a verification in the e-mail. After that, they required a phone number to send me an sms code to enter before the listing went live. I thought it might need to be a phone number on the whois, but it doesn't need to be. So it appears the main security is the e-mail to the whois e-mail address, not the phone number/verification.

As far as shill bidding, I haven't bid, so I don't know how they stop anyone from bidding whatever they want.

 

[Alfred Shelver]

disclaimer: I used search and went through the forum threads to make sure there was nothing already written about this if I am duplicating news I am sorry.

So freelancer have Created a domain and website selling platform called freemarket.com Interesting to see a company put lots of money into creating a knew marketing avenue. This is after their recent purchase of Warrior forum for 3 Million.

Interestingly there is a domain one there Payment.com it has 3 bids and the highest bid $10 million dollars Has anyone used it or tried it would be interesting to know I have one domain on there but no success but I as still very new to all this.

 

[RogueWriter]

I have one domain on there right now, closing in a few hours. No bids yet, can't even tell if there have been any views. If there are stats for views of an auction, haven't run across it yet. Thought I would try one, with a low reserve, just as a test to gauge interest.

Oddly, on my listing summary page it says the auction is closing in 5 hours, but when I click to the details page it says the auction is closing in three days.

I believe this is because I put the details of the auction in one day, then kept it as a rough draft for a few days before activating it.

The website still needs a few tweeks, imo.

 

[iowadawg]

https://www.namepros.com/threads/new-marketplace-launched-freemarket-com.832602/#post-4694051

 

[RogueWriter]

So, my first auction closed, only it didn't. When I looked at my listings page, the domain counted down to 0 hours remaining, and now says, 'from 2 hours ago' while at the same time, on the details page, it says there are 3 days left. I think it was because of a delay between when I created the auction and when I actually listed it live. No activity on the domain itself, pistolry dot com. Cannot even see how many views it is getting. Lots of room for improvement. JMO, but I think this site went live a little early.

 

[gatekeeper72]

I just wanted to share with all of my fellow domainers that a Semi-new marketplace has just opened up recently, only about a month or 2 ago.
I came across a video a couple of days ago, with the owners, and designers of Freelancer.com.
They were announcing that they just opened Freemarket.com to buy, and sell domains.
They have over 13 million users on the freelancer.com site, with ads all over about their new marketplace to buy and sell domains.
I took a look at it, and they seem to be fastly growing their new freemarket.com marketplace, and as they stated in the video, they are gearing towards being #1 in the industry, as they have the most competitive prices. They don't charge anything to list, unless you want to be featured or highlighted, and in the end, the only charge a 5% commission fee, and only if the domain sells.
I personally haven't seen any marketplace charge that little in commission fees, and that's only if the domain sells.
I just wanted to share it, and spread the news about it, as I thought it would be a possible good resource for domainers.
I know it goes without saying, why they named it "freemarket" probably to co-inside with "freelancer", but also am wondering why they would call them "free", when neither one of them are free...lol...But good prices none the less.
Maybe to draw more people in, and then show reasonable prices either way?..IDK..
Anyhow, just wanted to share.
Also, no...No one paid me to write this!

 

[Name Trader]

As stated above, (I had made a completely new thread for this yesterday, but they moved it here). But am noticing some discrepancies from what you all describe, and from how they described it it the video. They said they were sticking with their flat rate fee of 5% to coincide with freelancer, and also so they could be #1 in the industry. I think they may work out their bugs in the future..However, still very confused on their commission structure.

It's a pretty awful UI, really. They need to start over, but they won't.

 

[Name Trader]

I'm guessing it's shill bidding and sale won't be completed.

 

[FPForum]

I decided to list a name on there and give it a try, with a Featured upgrade.. No bids yet, but I do have a few remarks on their site...

Kind of like others have said..
1) You can't see the number of Views you're listing has received.
2) You can't select multiple categories for domain listings.

At least they finally fixed the formatting issue! Before you couldn't even make your listing look pretty. Hopefully they get some other changes in there. Being that it was made by the creators of a huge Freelance website, you thought they may have held off until things were a little cleaner. Oh well, it does have potential!

 

[tomcarl]

Not sure what the biggest sale on Flippa ever was, but Payment.com just met reserve at $10 million with 2 days to go on FreeMarket. This should definitely get them some big time exposure once finalized.

Good for them. Congrats.