Rant to brand bucket

Discussion in 'Domain Marketplace Reviews' started by JudgeMind, Jun 19, 2017.

Replies:
137
Views:
6,504

  1. JudgeMind

    JudgeMind Active Member PRO Business Account VIP Trusted Contest Holder

    Joined:
    May 28, 2013
    Posts:
    4,825
    Likes Received:
    8,217
    Heres a rant to brand bucket and to Michael krell (brandbucket ambassador) for declining names I've submitted to list with them and then when I did not renew it Michael picks up the name and lists it on BB..

    Poor form sir
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. MapleDots

    MapleDots Established Member

    Joined:
    Mar 3, 2017
    Posts:
    1,464
    Likes Received:
    3,089
    Maybe they were not great names and he was on the edge of accepting them. When you dropped them and he managed to eliminate the middle man it might have become profitable to list.

    It is a fine line and I agree with you... poor form

    But then again it is business and you have to take an opportunity when it presents itself. Your drop is his gain.
     
  3. urlurl

    urlurl Active Member VIP

    Joined:
    Nov 25, 2009
    Posts:
    2,031
    Likes Received:
    3,574
    Thats not good, that's defiantly sneaky if you ask me
     
  4. JudgeMind

    JudgeMind Active Member PRO Business Account VIP Trusted Contest Holder

    Joined:
    May 28, 2013
    Posts:
    4,825
    Likes Received:
    8,217
    It's clearly a strong brandable name.. he's now got it listed for almost $4,000... not impressed at all. Think I'll be moving my portfolio away from brand bucket.
     
  5. MapleDots

    MapleDots Established Member

    Joined:
    Mar 3, 2017
    Posts:
    1,464
    Likes Received:
    3,089
    So unfortunate....
    Could you share the domain name with us?
     
  6. urlurl

    urlurl Active Member VIP

    Joined:
    Nov 25, 2009
    Posts:
    2,031
    Likes Received:
    3,574
    Still might be a coincident - is Michael privy to the review process?
     
  7. alcy

    alcy Active Member VIP

    Joined:
    Mar 6, 2015
    Posts:
    11,317
    Likes Received:
    14,578
    well.. some people always find stuff looks better when in their own portofolio..
    combine that with having power and authority to put anything their heart desires on BB.. and no subject to review.. and .. the math is done!
     
  8. Asfas1000

    Asfas1000 Active Member VIP

    Joined:
    Nov 30, 2014
    Posts:
    2,013
    Likes Received:
    1,839
    Well you know, sometimes when you are exposed to the same domain for a second time, familiarity makes it look a little better :) Maybe the reason why he decided to pick it up.
     
  9. Recons.Com

    Recons.Com Business Member Business Account VIP

    Joined:
    Oct 29, 2015
    Posts:
    3,890
    Likes Received:
    5,533
    Here is BrandBucket's way:

    1. Recruit sellers and see what they've got.
    2. If a name is great one (a killer name, a pronounceable LLLL.com etc.) that either is hard to obtain or costly to obtain, then list them. They get $10 for listing, traffic that those names normally have, natural buyers that might come with them and 30% of sale if it happens.

    Math works this way:

    Cost to obtain very high quality names: average $300. Listing price for this kind of names: average $5000. Sell %: 3%. If you have 100 of this names, upfront expense of $30K, renewals 1000, logo payout $300, revenue $15K annually, so BB would make around 45% return before other expenses.

    Now if the cost burden is shifted to sellers, then upfront cost $0, renewals $0, revenue 3x5000x30%=$4,500.

    Obviously, $4,500 on 0$ investment is better than $13K+ on $30K, as that is "only" around $8.5K incremental on your "idle" $30K in the bank.

    It is completely different dynamics on brandables that are not unique. Meaning there are literally hundreds of thousands of equivalents for them.

    BB can buy 100 of those at $2000 average, sell 3 a year at $2K average, minus renewal and logo, for a bit under $5K annually

    With your 100 names, though upfront is $0, they get only 3 x $2K x 30% = $1,800

    Obviously, $5K on $2K upfront investment is better than $1.8K on 0$ investment. Why? Because the incremental $3.2K on $2K that you have on your bank account is still very healthy return.

    So, if they do have "idle" 30K in the bank account from the example above, they are better off filling up the segment of generic brandables with their own 1500 names for around $50K annual earning than using it towards quality names and making around $8.5K with it.

    So to summarize: they don't want your good names as for that segment, they'd rather have names of owners, managers, ambassadors and Matmor, whatever his capacity in that organization is. They will still take some, not to completely turn you off, but don't look for a logic here. They only want your great names.
     
  10. karmaco

    karmaco Established Member

    Joined:
    Apr 23, 2017
    Posts:
    380
    Likes Received:
    617
    Honestly I can't understand paying someone 30% plus a logo fee for the "honor" of selling on their site. I am not directing this at BB only but in general at these sites that make themselves out to be branding gods.

    You can sell it on your own page with your own logo or are any number of other marketplaces that charge a lower commission. It makes no sense to give away that much money and have to follow their rules. It's your damn domain. Also, the "ambassador" is extremely rude to people here. That's enough to make me not look at the site no more than once.
     
  11. tldboss

    tldboss Supportive Member NamePros Supporter VIP

    Joined:
    Oct 13, 2016
    Posts:
    990
    Likes Received:
    4,516
    wow, not good at all. What changed since the name was rejected? Now, I am questioning their review process. @JudgeMind thank you for sharing
     
  12. BrandClub.com

    BrandClub.com "Featured.domains" VIP

    Joined:
    Oct 20, 2015
    Posts:
    2,421
    Likes Received:
    412
    GREAT decision !
     
  13. MapleDots

    MapleDots Established Member

    Joined:
    Mar 3, 2017
    Posts:
    1,464
    Likes Received:
    3,089
    @BrandClub.com - maybe you can start a topic and tell members to list rejected brandables with you instead of dropping them.

    You get my vote because you are in our community and open to feedback.
     
  14. BrandClub.com

    BrandClub.com "Featured.domains" VIP

    Joined:
    Oct 20, 2015
    Posts:
    2,421
    Likes Received:
    412
    (y)
     
  15. Nat Hunt

    Nat Hunt Business Member Business Account VIP

    Joined:
    Dec 16, 2014
    Posts:
    4,336
    Likes Received:
    3,139
    @JudgeMind What was the timeline on this? When did you submit it and when did Michael buy it?
     
  16. DomainVP

    DomainVP Domain Expert Business Account VIP

    Joined:
    Jun 24, 2013
    Posts:
    3,143
    Likes Received:
    11,346
    You should have done that years ago, Krell is a shifty sneak-thief.

    It blows me away that people still use BB. Noobs, sure but you are better than that.
     
    Last edited: Jun 19, 2017
  17. JudgeMind

    JudgeMind Active Member PRO Business Account VIP Trusted Contest Holder

    Joined:
    May 28, 2013
    Posts:
    4,825
    Likes Received:
    8,217
    Rejected 2016
    Picked up by krell 2016

    About 3 months apart

    Probably backordered the name after rejecting it so he could list it on BB..?? Just an assumption..
     
    Last edited: Jun 19, 2017
  18. alcy

    alcy Active Member VIP

    Joined:
    Mar 6, 2015
    Posts:
    11,317
    Likes Received:
    14,578
    before you quit BB.. click to buy it from him.. get his little big ego real excited.. then do not pay and tell him he tricked you with your domain and link him to this thread :)

    go out with a firework!

    assuming you can deal with him direct there.. cause i never been to that place called BS.. I mean BB.
     
  19. Media Branding

    Media Branding Media Branding LLC Business Account VIP Trusted Contest Holder

    Joined:
    Dec 4, 2008
    Posts:
    4,226
    Likes Received:
    763
    This would be a very slimy, sneaky and just a terribly $hitty way to operate the leading brandable marketplace if this truly happened.

    Hopefully you were off a letter or so by a typo or something and just misread a similar domain. I could easily see something like that happening if scanning a list quickly or if an "i" looked like an l or something similar to that.

    JudgeMind, Could you please share the name here?
     
  20. alcy

    alcy Active Member VIP

    Joined:
    Mar 6, 2015
    Posts:
    11,317
    Likes Received:
    14,578
    you probably don't know this.. but this is JudgeMind
    he don't make no stupid mistakes. ;)
     
  21. JudgeMind

    JudgeMind Active Member PRO Business Account VIP Trusted Contest Holder

    Joined:
    May 28, 2013
    Posts:
    4,825
    Likes Received:
    8,217
    I will share eventually! I came to learn about this when the domain sold on afternic today.. i, like many of us, forgot to remove this particular domain from afternic after it dropped. I will share after I get things sorted with my acct manager at afternic.

    At the time the domain dropped I had almost 10k domains I was trying to manage. So, that's how it dropped, just too much to handle.. I don't care that I dropped it and now it's sold, I just care that I had submitted it to bb and they declined it, only to pick it up as soon as I dropped it and list it!!!!
     
    Last edited: Jun 19, 2017
  22. Grilled

    Grilled 🙈🙉🙊 VIP

    Joined:
    Feb 18, 2015
    Posts:
    3,431
    Likes Received:
    4,198
    You can (sorta) confirm if it was back ordered by checking the registration time. If registered between 1800 and 1930 most likely backordered If later than 19:30 Zulu time than most likely hand regged. Also if registrar is namebright there's a giveaway. (Based on MK's trends)

    Does the domain still retain the old who's creation date or does it have a new 2016 creation date?
     
  23. JudgeMind

    JudgeMind Active Member PRO Business Account VIP Trusted Contest Holder

    Joined:
    May 28, 2013
    Posts:
    4,825
    Likes Received:
    8,217
    New 2016.. I'm certain it was backordered.. pretty fing low
     
  24. dnsolutions

    dnsolutions VRCREATORS.com NamePros Supporter

    Joined:
    Jan 12, 2015
    Posts:
    500
    Likes Received:
    457
    Hi everyone,

    I don't follow BrandBucket that much and I don't know how they do their business. I only had one name published there 2 years ago that I already dropped.

    Does Krell personally accept or reject names that get submitted?
     
  25. JudgeMind

    JudgeMind Active Member PRO Business Account VIP Trusted Contest Holder

    Joined:
    May 28, 2013
    Posts:
    4,825
    Likes Received:
    8,217
    From correspondence I've had with him he oversees the review phase for submitted names.. or at least he used to
     

Want to reply or ask your own question?

It only takes a minute to sign up – and it's free!

Share This Page

Loading...