Snapnames changes its policy - Auction system!!!

[Peace]

To SnapNames Customers:

Over the course of the past year, the domain name marketplace has changed dramatically. Accordingly, SnapNames has elected to update the way we capture deleting domain names and make them available to you.

Effective immediately:
Our back-order service will require no up-front fee. You can back-order valuable domain names at no charge.
You pay a success fee only if we successfully acquire a domain name for you.
In the event of multiple back-orders for the same domain name, we'll conduct a short auction, and the winning bidder will be awarded the name.
Customers with existing SnapBack® subscriptions will, of course, receive credit for their subscriptions. For more information, please see our FAQ section.

We look forward to continuing to serve you.

This announcement is from Snapnames website
http://www.snapnames.com

 

[.edu]

They had to, the previous system they had was making them pennies while other drop catchers became millionaires overnight.

 

[Raf]

Yep, totally agree with you .edu. They had to cut back on some things so that they themselves can earn some sort of revenue.

 

[RJ]

This is the same business model as pool.com now. Many of SnapNames' participating registrars were leaving them for Pool and the opportunity to make more money. This might level out the field. Guess we'll see!

 

[identity_00]

I still have a credit I have to use.
I wonder if I can get my money back... wishful thinking.

 

[Mark]

I noticed a large jump in the # of Domains on Pool this Past week also ......... Coincidence ????

 

[DomainOgre]

I posted this in the wrong place lol.

Well this explains why they dropped their resellers. Not a total shock because this is the way the industry is headed thanks to Pool.

They better give refunds or something because I had a snap on one name that I really liked at their recently raised $70.

 

[AdoptableDomains]

I guess now it makes sense why they dropped the resellers a few weeks ago so suddenly.

I haven't used snapnames for almost 2 years now. Maybe on a pay for success model I'll have to give them another try.

 

[NameFusion]

Will they be cheaper or the same price as Pool I wonder. :D

 

[Grrilla]

I just used their new interface- easier to use, but still has a little bit of that hide and seek element of the old one. What I didn't like about the old one was there was no fingertip info showing the registry status of the name. Email updates for name status were inconsistent- sometimes I would get a status change alert- sometimes not. The prob w/ this one, unless I missed it, is that there is nothing that shows # of crecits and their status. I suppose they are applied to the snap fee. More will be revealed.:hehe:

I had a good one too, Ogre. Getting real close to the end of the redemption and could've slipped in there. Everything is fair game now.

 

[bizbj]

The name which I want to snap will drop at the end od this month,but now........
Bean

 

[DomainOgre]

Since they charge $60 now, just like Pool, I can either use my credit on winning the name (if no one else bids) or use it to pay part of the winning bid on a name that I already had locked up. Gee, thanks SnapNames .

 

[Matt]

Originally posted by -RJ-
This is the same business model as pool.com now. Many of SnapNames' participating registrars were leaving them for Pool and the opportunity to make more money. This might level out the field. Guess we'll see!

I think were forgetting here the "leveling" of the playing field is still only based on the profit margin made by these services. Still, bugger all help to those domainers who dont have unlimited funds to get/catch domains.

This is where the industry falls over imo. There is nothing for the "smaller" player out there. It's VERY frustrating. Any half decent name will now go to whoever has the largest $$$ in there account.

Time to bring these names back to the people imo

Rgds
Matt

 

[ExpireGuy]

Agree with you 100 percent Matt.
The smaller players will be left out of the loop big time now. Ult and buy domains among other deep pocket groups simply have another avenue now to increase their chances on prime names.

 

[saint]

Has anyone spoken to a lawyer about this.