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I just wanted to let everyone know who hasn't already heard of the site that PushToAuction.com is a place to market domains that you would like to push to auction at Sedo™.
But what does Sedo™ think about all this?
I spoke with Mark Klein, Sedo's director of business development, about the concept, intent, and implementation of the site. He is well aware of the site's existence, and hasn't expressed any desire for us to stop providing this service to industry professionals.
But won't this lead to a lot of canceled auctions?
The answer is no. I worked closely with Tom Fell, Sedo's North American risk management coordinator, to monitor several hundred auctions started through the site. He was unable to find any correlation between an auction having been started from our site and an increase in canceled auctions. Essentially, the ratio of completed auctions to canceled auctions on Sedo as a whole was not markedly different then the ratio for ones started from PushToAuction.
But won't this encourage favors?
We have made the site as anonymous as possible by not having user names and requiring logins. If you don't know who made the offer, you won't be inclined to reciprocate.
So, how does it work?
You list your domain for free on PushToAuction.com. If someone browsing the site would be happy purchasing your domain for at least $60, they will proceed to make the offer through Sedo™. Once the offer is received, the seller is obligated to push to domain to auction. We also have a featured listing option available for $5 that places the listing on the home page and the top of its category.
Are people having success using the site?
Absolutely! At the time of this post, PushToAuction.com has started 271 auctions. Of those, 255 have already ended with sales totaling $79,117, an average of $310 per domain. The highest sale so far was 6JJ.com which closed at $1,068. These stats are updated live on the right side-bar. Not bad for having only been live four months :tu:
So what's in it for buyers?
Two things. The most important benefit from the site is saving time. Let's say you want to buy a CCC.com at fair market value. You go through Sedo making a few dozen offers, but every single one of those gets countered with $30k+ (as usually happens on Sedo). You just wasted hours of your time searching, and you don't have your domain. Instead, just pop on PushToAuction.com, go to the Acronyms category, make a single $60 offer, and seven days later you have your domain at a fair price.
The second reason buyers use the site is they are hoping to get the domain cheap. Imagine if you made a $60 offer on a domain that is $300 min wholesale and nobody noticed the auction. You just got a bargain! The truth is that rarely happens, but there's no harm in trying, you never know when you'll get lucky
Am I going to waste time clicking a lot of dead links?
We wouldn't do that to you. There are sophisticated programs running in the background that maintain the site. If a listing gets deleted from Sedo, the listing automatically gets removed from the site. If a listing gets pushed to auction, it automatically gets moved to Current Auctions. When an auction closes, it automatically gets moved to Past Auctions, the price gets recorded, and the home page stats get updated. This update happens once a day at 5am EST (GMT -5).
We've spent a lot of time creating the site, promoting it, and making sure Sedo is comfortable with it. We hope it provides a valuable service to the community and makes the process of buying or selling a domain more efficient.
Domain Name Wire even did a feature on the site, click here to read it.
Any comments or suggestions would be greatly appreciated.
But what does Sedo™ think about all this?
I spoke with Mark Klein, Sedo's director of business development, about the concept, intent, and implementation of the site. He is well aware of the site's existence, and hasn't expressed any desire for us to stop providing this service to industry professionals.
But won't this lead to a lot of canceled auctions?
The answer is no. I worked closely with Tom Fell, Sedo's North American risk management coordinator, to monitor several hundred auctions started through the site. He was unable to find any correlation between an auction having been started from our site and an increase in canceled auctions. Essentially, the ratio of completed auctions to canceled auctions on Sedo as a whole was not markedly different then the ratio for ones started from PushToAuction.
But won't this encourage favors?
We have made the site as anonymous as possible by not having user names and requiring logins. If you don't know who made the offer, you won't be inclined to reciprocate.
So, how does it work?
You list your domain for free on PushToAuction.com. If someone browsing the site would be happy purchasing your domain for at least $60, they will proceed to make the offer through Sedo™. Once the offer is received, the seller is obligated to push to domain to auction. We also have a featured listing option available for $5 that places the listing on the home page and the top of its category.
Are people having success using the site?
Absolutely! At the time of this post, PushToAuction.com has started 271 auctions. Of those, 255 have already ended with sales totaling $79,117, an average of $310 per domain. The highest sale so far was 6JJ.com which closed at $1,068. These stats are updated live on the right side-bar. Not bad for having only been live four months :tu:
So what's in it for buyers?
Two things. The most important benefit from the site is saving time. Let's say you want to buy a CCC.com at fair market value. You go through Sedo making a few dozen offers, but every single one of those gets countered with $30k+ (as usually happens on Sedo). You just wasted hours of your time searching, and you don't have your domain. Instead, just pop on PushToAuction.com, go to the Acronyms category, make a single $60 offer, and seven days later you have your domain at a fair price.
The second reason buyers use the site is they are hoping to get the domain cheap. Imagine if you made a $60 offer on a domain that is $300 min wholesale and nobody noticed the auction. You just got a bargain! The truth is that rarely happens, but there's no harm in trying, you never know when you'll get lucky
Am I going to waste time clicking a lot of dead links?
We wouldn't do that to you. There are sophisticated programs running in the background that maintain the site. If a listing gets deleted from Sedo, the listing automatically gets removed from the site. If a listing gets pushed to auction, it automatically gets moved to Current Auctions. When an auction closes, it automatically gets moved to Past Auctions, the price gets recorded, and the home page stats get updated. This update happens once a day at 5am EST (GMT -5).
We've spent a lot of time creating the site, promoting it, and making sure Sedo is comfortable with it. We hope it provides a valuable service to the community and makes the process of buying or selling a domain more efficient.
Domain Name Wire even did a feature on the site, click here to read it.
Any comments or suggestions would be greatly appreciated.
