discuss Sent FoxyTrip.com to auction. Bad or good idea?

[WhoaDomain.com]

So got an offer on sedo for $3500 on foxytrip.com I could have countered but from my experience I have tendency of just countering with $10k which almost always ends in end of negotiations.

But if I counter with lower like $5k as as a domainer we always feel we "left money on the table"

So what's a fledgeling domainer to do?

We send it to auction.

Hassle free right?

But now I feel I let the buyer "off the hook" because now in 7 days they will get it for their first offer.

Now you need to go and promote your auction which is a pricey proposition sometimes.

You can go

namebio $35 for 7 days
Domaining $30 for 1 month ( on a seven day auction?)

Or free
Social media
Namepros
Other forms

But usually nothing ever happens at auction.

What's up with that?

Has domaining become dead? I remember such a post asking this on NP.

So was pushing to sedo auction a bad move or good one?

If this were GoDaddy and I got an offer on foxytrip.com

GoDaddy would charge the buyer all the fees. Pure profit.

But on sedo the 20% is unavoidable if you list with them no matter what.

So sending to free auction is a no brainier since no matter what they get 20% so might as well right?

Can't help thinking I could have pushed the buyer for more. But from my last experience with one domain where I got greedy. I lost a potential sale of $5000. I had countered with $8000. And then they disappeared.

So now I have "counter" fear and paranoia. Lol

Anyone have this? Lol especially with large first offers?

Should we as domainers assume whoever the offer is coming from? Since it is huge right off the bat ? Is a pro and knows the value of your domain? And you should just take it?

Or should you always go "crazy eyes" and push up the price?

I know the saying "if they can go $3500 on first offer then surely they have deep pockets"

Is that always true? Or is a $3500 bid just that?

Too late now. But definitely a learning experience.

FoxyTrip.com was in transit to a new registrar when I got an offer so whoever gets it now gets an extra year of reg.

@$3500 sedo gets $495. (We are in the wrong biz NP!)

Damnit! But foxytrip.com was found at sedo.so I guess it's okay..........

There are tons of Comps for keywords

Trip
And
Foxy

For big money. I would have thought on day 2 of listing it I'd be getting other offers but nothing?

I'm starting to think when you see those big sedo sales on namebio that it's all just buyers no on sedo who come for the domain they want and followed the redirect from the domain they wanted and found was taken to sedo.

Is the current $3500 offer on FoxyTrip.com an enduser? What do you all think? Or reseller?

FoxyTrip.com is in transit so can't redirect to it's sedo listing. But check my sign for it.

Let's see what price this ends up selling.


All in all I have doubts but no regrets.
Money now is money now.

A counter offer of any amount would have risked the buyer leaving the table.

Let's hear your opinion NP.

Oh I had reg foxytrip.com for the idea of a website for

Sugar daddy travel companion site
Or
Travel site for all the sexiest places on Earth destinations.

 

[WhoaDomain.com]

see if SEDO can provide their info if they become a non buyer. need to call these people out

lol. I know right? I doubt it. won't happen. eehhh. we'll see. anyways got another one going on now. CoinBunker.com ! $1000!

wooo hoo! lol lemme stop. this is chump change compared to all you pros on here. 100 more of these and I'll have a good year.

 

[urlurl]

shouldn't sedo provide the information for you to go after them?

it would be good to do a reverse look up on their email address

 

[usernamex]

Well barnacles, I am sorry your buyer is stalling on payment @Avtar629 that sucks. Only because I have had so many buyers back out, now do my best mentally and emotionally to not count the sale as complete until I have the money actually in my possession and the domain is completely transferred.

Personally, I would rethink your push to auction strategy, it gives the buyer too much time to allow buyers remorse to take over. Even though it is supposed to be a binding offer, if they are new to sedo and they wouldn't care about the loss of their account privileges, a week to wait is too much time.

 

[Asfas1000]

Personally, I would rethink your push to auction strategy, it gives the buyer too much time to allow buyers remorse to take over. Even though it is supposed to be a binding offer, if they are new to sedo and they wouldn't care about the loss of their account privileges, a week to wait is too much time.

My thoughts exactly....+1

 

[WhoaDomain.com]

Well barnacles, I am sorry your buyer is stalling on payment @Avtar629 that sucks. Only because I have had so many buyers back out, now do my best mentally and emotionally to not count the sale as complete until I have the money actually in my possession and the domain is completely transferred.

Personally, I would rethink your push to auction strategy, it gives the buyer too much time to allow buyers remorse to take over. Even though it is supposed to be a binding offer, if they are new to sedo and they wouldn't care about the loss of their account privileges, a week to wait is too much time.

My thoughts exactly....+1

I'm slowly starting to believe this now. that plus seems like even if you try to go the auctio route in the hopes you will get eyes on it. and hopefully those "eyes" will make a bid.

but they never do mostly. it's sad.

captain obvious would say "you just have sucky domains"

but history shows use that "sucky domains" do get sold for high prices.

I just don't get what those people who sold those domains did to get more bids?

sometimes I feel like it's all fixed. that somehow you go thru all these paid features to get eyes on your auctions but somehow the traffic gets redirected someplace else.

anyone ever get this feeling?

I remember one sale on DN.Properties which is an auction site created by one of our fellow NP'ers.

It had a $xx,xxx sale for a domain.

I think such a sale was made because the only domain sold on it was that domain. so no "distractions"

Yea true you get tons of people checking out Sedo and Godaddy but that also means they have so many choices.

Creating your own auction site guarantees only your domains are being shown to all visitors.

And all your efforts to feature your domain auctions will also promote your domain for that auction website.

I'm starting to think if you really have to do auction route. it's best to keep things in house.

that plus you save yourself 15-20%

 

[urlurl]

i would still push SEDO to hand over the buyers info - if he is a member here he should be called out for non payment.

 

[WhoaDomain.com]

Man I sure hope it's not a member here who realized they were buying from me and now chooses not to pay because they don't like me?

 

[Michael]

Don't know what Sedo will do though. I can't recover the money I spend to feature the domain over at Namebio.

which by the way did not net the kind of action I expected.

Always thought this was the "Template" the big boys do.

Do an auction. Pay to feature. and then all these bidders would come and boom. Fat check.

The listing got 37 clicks which is below average, but I wouldn't expect resellers to be all that interested in FoxyTrip.com as the word foxy doesn't relate to travel in a clear way. So it doesn't really surprise me that the clicks were lower than usual on that one. If you auctioned it on NamePros it probably wouldn't end much above reg fee if that.

I would say that a $3,500 offer on that domain is definitely retail and not wholesale. I would never recommend paying to promote an auction to the domain industry that is at a retail level, as the odds of a domainer bidding at that level is pretty much zero. It's important to know your audience. Would you pay anywhere near that price for the domain? If not, marketing it to other domain investors won't do you any good.

I also generally wouldn't recommend pushing a retail offer to auction, as the odds of another retail buyer seeing the auction during that week is pretty small. I would only push a retail offer to auction if I was actively marketing the domain via outbound email, and one of the people I contacted just happened to make the offer through Sedo instead of email. Because then you have a pool of interested parties on the hook that you can drive to the auction and hopefully start a bidding war.

Even then you're playing with fire as a week isn't much time for the other parties to make a decision and get approvals, sign up for Sedo and do the buyer verification, etc. So the odds of one of the other parties jumping into the auction in time is pretty small even if you already have them on the hook.

And you also run the risk that the buyer gets pissed off that you started the auction, and he just walks away. Plus the other things you mentioned, like the buyer seeing nobody else is interested at that level. So you're adding quite a bit of risk with very little chance of getting more bids. Doesn't seem worth it.

For that particular domain at that particular price, I probably would have just outright accepted. Or at the very least made a close counter below $5k. And if you're going to feature an auction, make sure it is something that you yourself would be likely to be interested in (also considering the bid price).

Also Domaining.com isn't $30 for one month, it's until you get pushed off the list by other people buying. So if 10 other people bought on the same day you did, your listing would be up for a matter of hours before disappearing. Could be a few days, could be a week, it isn't fixed and you have no way of knowing. Now they changed it to $50 and you get pushed off when 5 people buy after you.

 

[WhoaDomain.com]

The listing got 37 clicks which is below average, but I wouldn't expect resellers to be all that interested in FoxyTrip.com as the word foxy doesn't relate to travel in a clear way. So it doesn't really surprise me that the clicks were lower than usual on that one. If you auctioned it on NamePros it probably wouldn't end much above reg fee if that.

I would say that a $3,500 offer on that domain is definitely retail and not wholesale. I would never recommend paying to promote an auction to the domain industry that is at a retail level, as the odds of a domainer bidding at that level is pretty much zero. It's important to know your audience. Would you pay anywhere near that price for the domain? If not, marketing it to other domain investors won't do you any good.

I also generally wouldn't recommend pushing a retail offer to auction, as the odds of another retail buyer seeing the auction during that week is pretty small. I would only push a retail offer to auction if I was actively marketing the domain via outbound email, and one of the people I contacted just happened to make the offer through Sedo instead of email. Because then you have a pool of interested parties on the hook that you can drive to the auction and hopefully start a bidding war.

Even then you're playing with fire as a week isn't much time for the other parties to make a decision and get approvals, sign up for Sedo and do the buyer verification, etc. So the odds of one of the other parties jumping into the auction in time is pretty small even if you already have them on the hook.

And you also run the risk that the buyer gets pissed off that you started the auction, and he just walks away. Plus the other things you mentioned, like the buyer seeing nobody else is interested at that level. So you're adding quite a bit of risk with very little chance of getting more bids. Doesn't seem worth it.

For that particular domain at that particular price, I probably would have just outright accepted. Or at the very least made a close counter below $5k. And if you're going to feature an auction, make sure it is something that you yourself would be likely to be interested in (also considering the bid price).

Also Domaining.com isn't $30 for one month, it's until you get pushed off the list by other people buying. So if 10 other people bought on the same day you did, your listing would be up for a matter of hours before disappearing. Could be a few days, could be a week, it isn't fixed and you have no way of knowing. Now they changed it to $50 and you get pushed off when 5 people buy after you.

Thanks Michael. I missed this post Very informative.

So just wanted to finish this thread by saying that the buyer/bidder did not pay. so Sedo gave me his info below.

I seriously doubt Sedo has penalized people like this. They said they would but seems like a "slap on the wrist" only.

Eric Gerardin
La treille des brandes
86150 Queaux
France

anyone know this guy? I tried to do a Linkedin but there's a bunch of people with this exact name. Go figure!

 

[usernamex]

@Avtar629 - can you ask the mods to move this thread back to a section where likes are allowed? There is some great learning information here and it would at least be some consolation for you that your experience could help members in the future

Maybe since the auction is ended that would be allowed?

@Michael - Thank you, that was really helpful