Dan.com
NameSilo
Impact
47
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.
 
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verbster

Blue MooseTop Contributor
Impact
3,413
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). There shouldn't be $1 bidding wars once you get over $50, nor should there be a $5 bidding war once you get over the 8 figure hump.

Of course, this could be good or bad. Good in the sense that the owner could get more if the increments were to increase, but bad if people dropped out of the auction because the increments were $$$$. On the other hand, if one is serious enough to own the name, they will hash it out to the value it's worth to them as seen in the video ($1.4 million after $25k increments and then $100k increments).

An auction is simply a contest to see who can spend the most (or least, depending how you look at it) for a mutually desired whatever. Even though the strategies vary, the selling price would probably end up being close to the same. The difference is how fast it gets there.
 

N-A

Account Closed
Impact
7,568
An auction is simply a contest to see who can spend the most (or least, depending how you look at it) for a mutually desired whatever. Even though the strategies vary, the selling price would probably end up being close to the same. The difference is how fast it gets there.
That's what I'm getting at, skip the foreplay and get to the point. :xf.cool:
 

The New Guy

Top Contributor
Impact
924
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.
 
Impact
661
Yes, I understand about searches, SERPs and such, but what I don't understand is "they charge you to remove your listing from public view / search engines". How do they charge for this?
They give u upgrade option at checkout when u list as a featured. Im not sure how they do it when listed as free listing. I assume u can contact support and they can invoice u or something..
 

gatekeeper72

Established Member
Impact
587
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). There shouldn't be $1 bidding wars once you get over $50, nor should there be a $5 bidding war once you get over the 8 figure hump.

Of course, this could be good or bad. Good in the sense that the owner could get more if the increments were to increase, but bad if people dropped out of the auction because the increments were $$$$. On the other hand, if one is serious enough to own the name, they will hash it out to the value it's worth to them as seen in the video ($1.4 million after $25k increments and then $100k increments).

I completely agree. The bidding process should go up as the dollar amount goes up accordingly. Otherwise it's kind of a waste of time. For instance: "I have 1 million...Do I hear 1 million and 1?" Great, "Do I hear 1 million and 2 dollars?" etc......lol..(It's laughable, but sad)
In another video I noticed that it jumped automatically from 1 million to 1.5 million. I think that's more how an auction should go, if not, at least in the 6 figure range...as in 1.1 million etc..But not 1 million 5 dollars, that's just silly if you ask me..HA!
Also you are right. They should make auctions the same online as they do offline. It's almost as if they haven't accepted the term "The Internet", and it's capabilities yet.
I do like to see the whole bidding process in action, and have never seen a domain auction live in action before, as in the video you posted. I didn't even know such a thing existed until you showed that.
I also think that if more domain auctions were "In the flesh" public, it would definitely raise the value of domaining altogether.
 
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N-A

Account Closed
Impact
7,568
Ebay has some rather ridiculous patents on auctions - not sure if this is part of the reason.
I was unaware of that, but I believe if a marketplace operates out of a specific state (though online auctions are international), UCC 2-328 may supersede those patents if on bidding increments. I'm not a lawyer though...
 

gatekeeper72

Established Member
Impact
587
It's all really silly stupid..It's almost no different than it being illegal to play poker online in Vegas, and NY, and some other states, but it's okay within those cities & states, to drive to the casino, with people more likely to drink & drive, as they serve you drinks the whole time you play.
Where is the intelligence? I just don't get it.
 

Soofi

Love Domain NamesTop Member
Impact
5,695
FreeMarket.com needs to go long way before they can stand up to Flippa, Seod, Afternic or others IMO :)
 

TravisS

The Duke of YorkEstablished Member
Impact
228
FreeMarket.com needs to go long way before they can stand up to Flippa, Seod, Afternic or others IMO :)

You're 100% right about that. It takes a lot of time + $$, to bring the buyers + sellers to a new marketplace. I feel freemarket.com will become more or less a market place for websites/ + high/less conversely "statted" domains. Flippa was the ~first. People no it. No one likes change ;). They might bring some of the warrior community over to the marketplace, but a lot of big-pocketed investors....don't use forums lol. Flippa already saturated the market.
 

Soofi

Love Domain NamesTop Member
Impact
5,695
You're 100% right about that. It takes a lot of time + $$, to bring the buyers + sellers to a new marketplace. I feel freemarket.com will become more or less a market place for websites/ + high/less conversely "statted" domains. Flippa was the ~first. People no it. No one likes change ;). They might bring some of the warrior community over to the marketplace, but a lot of big-pocketed investors....don't use forums lol. Flippa already saturated the market.

FreeMarket.com might bring in few people like me who are always looking for change from places like Flippa et al.
 

TravisS

The Duke of YorkEstablished Member
Impact
228
Yeah, but what change are you looking for? I mean are the Flippa fee's enough to turn you off from the customer repository Flippa has. It takes a shit load to gain a large customer base like that. Flippa was not created in a day, and FreeMarket won't be either. Remember...they both have backing forums....at least "had" backing forums. Lost in translation.
 

matrigaldo

Domainer since 2007Top Contributor
Impact
680
Currently I see flippa as the strongest domain marketplace, the question is: would freemarket.com attire new investors, new domains, a new audience or would be just another marketplace where to list our domains?
 

TravisS

The Duke of YorkEstablished Member
Impact
228
Freemarket would NOT be in the short term. You have to think about the demo's in warrior forum...because that is where they would be more of their customer base. They're looking for more statted domains as devs, not investors. Investors have the deeper pockets. They view as more speculative, than a sure paycheck. Buying statted domains w/ value is one thing, but straight domains is another. Freemarket will never be as big as Flippa in the same arena.
 

TravisS

The Duke of YorkEstablished Member
Impact
228
And to answer your question directly, new means whoever spent more on marketing. Flippa is everywhere...as it stands... freemarket is no where. Buyers dont give a shit about fees if they are willing to spend. As an enduser %'s dont mean much. You either want it, or you dont.
 
Impact
990
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...
 

gatekeeper72

Established Member
Impact
587
Quotes by Ron on Warrior Forum:
Good to know, and keep in mind about...Did you try to contact Freemarket, and tell them about this issue? If so, what did they have to say about it? I would really be interested in knowing...Anyhow, Thanks for sharing! :)
 

Soofi

Love Domain NamesTop Member
Impact
5,695
Disaster so far for FreeMarket.com from what I have read of Ron's post at Warrior Forum
 
Impact
5,136
I do not know who thought it was a good idea to bring this site live, maybe some displaced Obamacare web site analysts? I don't usually pile on with disparaging remarks, but the initial manner in the way the site was overplayed is irritating.

Seriously, asking the public to believe the site is generating 6 figure sales when basic functionality has not been addressed, well..... Who would sell a 6 or 7 figure domain under those circumstances?
 
Impact
661
Questionable listing: https://www.freemarket.com/sites/view.php?id=7104

This site is making a net of $3K per month, but the reserve has been met at $1K?

Also, why do only the highlighted featured listings stay "stickied" to the top while all the non-highlighted featured listings drop down as new ones are added?? They mention nothing about this when you're checking out.
 

gatekeeper72

Established Member
Impact
587
Questionable listing: https://www.freemarket.com/sites/view.php?id=7104

This site is making a net of $3K per month, but the reserve has been met at $1K?

Also, why do only the highlighted featured listings stay "stickied" to the top while all the non-highlighted featured listings drop down as new ones are added?? They mention nothing about this when you're checking out.

That definitely seems a bit shady. Making $3k a month in profit, but reserve is only set at 1k? WHAAAT????
 
Impact
661
That definitely seems a bit shady. Making $3k a month in profit, but reserve is only set at 1k? WHAAAT????
It sold for $1,105. :xf.eek:

I'm wondering what happened with the Payment.com listing for $10 million. Anyone know?
 
Impact
5,136
I've been trying to figure out how to contact them, is there an actual contact email address on the site? I'd like to remove my ended auction from the site.
 
Impact
661
I've been trying to figure out how to contact them, is there an actual contact email address on the site? I'd like to remove my ended auction from the site.
That's what I was complaining about earlier. They charge you $30 to remove your listing.
 

gatekeeper72

Established Member
Impact
587
That's what I was complaining about earlier. They charge you $30 to remove your listing.

Seriously? That is BS! I know where I definitely won't be listing my domains...Hmmff..
Are any other marketplaces like that, that I should know about before listing on them?