Domainlore charging 5%

[LCHappy]

Domainlore seem to be charging 5% on the sale of names now. Any other auction sites to sell uk names?

I like DL but no thanks on sales commissions

 

[RobM]

The people who bid top prices at DL all go to ukbackorder as well. However people tend to put their poorer quality domains there believing they wouldn't sell at DL and don't want to pay the price. As always people cry 'we want somewhere else to use except DL' and then go to DL That's why mine is, and always will be, free - I am not a one-trick pony (and as a bonus I'm nice to my customers) One piece of advice for people auctioning names though... tell people. Amazing how many auctions end without a reminder here. If you don't want to market your auction then that is what DL is charging 5% for (probably) - they obviously feel that the traffic they have is worth that.

 

[JMI]

I like DL the technical side of the auction mechanics work wonderfully, but it slowly killed name prices since its birth. If you've been doing this game 20 years you'll know what I mean. Most of the people who look at DL look at AD anyway.. you'll get more for a name here, and if you don't or didn't - it's because the savvy buyers know you'll just firesale it on DL in the end so they are prepared to wait it out.. it's just one big game

 

[armistice]

Hidden gems listings are still free (as in listing fee back if it sells),

DomainLore presents a new concept in domain name trading. The platform is completely free for the buyers and we let sellers run auctions on our platform by paying two fee types:

- Premium domains approved for Spotlight section are subject to 5% selling fee;

- Domains initially approved as 'Hidden Gems' can be sold for free. First, a small listing fee is charged, which is usually a £5. If your domain name receives a bid (after which it moves to Spotlight) and subsequently sells - we credit your listing fee back! And there is nothing else to pay. We encourage quality of the listings and this allows sellers with a good inventory to enjoy free listings and fee-free sales.

 

[LCHappy]

Around 90% of the front page is now gems with bids, maybe higher end names are starting to stay away. Once the high end sellers stay away, the buyers will visit less often and then it might collapse. If they were actively marketing the names, bringing in end users to justify the price then maybe but if buyers if traffic drops because people are no longer using it, then as a seller it's a double whammy of less bidders and 5% commission.

I thank DL for what it did for me in both buying and selling but won't be going back now.

 

[LCHappy]

Probably seen how much money everyone was making and wanted a piece of it. Which is fair enough I suppose.

I think that is a fair comment.

 

[RobM]

Around 90% of the front page is now gems with bids, maybe higher end names are starting to stay away. Once the high end sellers stay away, the buyers will visit less often and then it might collapse. If they were actively marketing the names, bringing in end users to justify the price then maybe but if buyers if traffic drops because people are no longer using it, then as a seller it's a double whammy of less bidders and 5% commission.

I thank DL for what it did for me in both buying and selling but won't be going back now.

I think this is a common misconception for the industry. *nobody* is going to 'bring in end users'. If an end user wants a domain they will go after it. End users aren't swayed by browsing names or being persuaded to come look at a domain. That is a speculator/developer (and these seldom pay the lottery type once in a lifetime prices that end users will). That is what DL and my site are for. Domainer to domainer sales on a daily basis. Anyone who owns a really good domain is very unlikely to auction it - they will be approached at some point. Auctions are for quick (needed) cash or the domainer market. I think people have, over time, developed an over-inflated sense of what their domain *really* is worth and it's much easier to blame 'lack of end-users/traffic/buyers' than just 'maybe my domain is really not very good'. I see domains on my site with over 50 *different* members viewing and no bids. Does that mean it needs more viewers or is it just a bad domain?

 

[boxerdog]

Will be interesting to see whats in the 2nd batch of ROR names starting from the 2nd week of September on DL

 

[LCHappy]

I think this is a common misconception for the industry. *nobody* is going to 'bring in end users'.

You are right in that nobody has, but that nobody is going to is a very reaching statement in my opinion.

For example, Liverpooltaxis.co.uk comes up at auction. An auction platform taking a fee could email local taxi firms and tell them. So I don't think it's a misconception or even difficult for auction platforms to do basic outreach to end users. If an auction platform is free then why should they, if they are taking a cut then they should imo.

If an end user wants a domain they will go after it.

Not if they don't know the auction is on though.

 

[RobM]

5% of £1000 (the kind of area you'd be hoping to get by outreaching your example) is £50. Ignoring server fees, software development, and all the other things provided by the auction platform on a daily basis you really think they should spend time trying to encourage local taxi firms for less than 1 hour pay for several hours work? Just a thought... why doesn't the domain owner do that before or during an auction? Again it's as I said. Auction platforms are not marketing platforms and the site owners really shouldn't be expected to act as a broker. But it's a double edged knife - on the one hand domainers want to buy from others cheap (and lament high prices) but they want to sell at enduser prices to other domainers - all without doing any work. This is why I don't charge. Don't want to use it - don't use it. Don't like your sale price - demand a refund. If you want an enduser or those types then auctions are not the place to be. (note: I am not referring to you specifically - I am referring to the general 'you').

 

[LCHappy]

5% of £1000 (the kind of area you'd be hoping to get by outreaching your example) is £50. Ignoring server fees, software development, and all the other things provided by the auction platform on a daily basis you really think they should spend time trying to encourage local taxi firms for less than 1 hour pay for several hours work? Just a thought... why doesn't the domain owner do that before or during an auction? Again it's as I said.

Let's come back a second as I think there are crossed wires. Free platform equals domainers doing their end user notification. Platforms charging fees (5%, 10%, 15% whatever) should really do something for the fee in my opinion. My personal issue with DL at present, and the reason I won't use it, is that they are now charging fees but not really adding to the added service.

 

[starbird]

Will be interesting to see whats in the 2nd batch of ROR names starting from the 2nd week of September on DL

I thought they all went in July.

 

[WalkinDude]

DL is distinct because it's such a hub of activity that I think heavily favours buyers as prices have a close relationship with reality. If you are hoping to achieve more then I've got no idea why you'd sell on it as that rather misses the entire point. To get more you have to have enduser selling skills-which if i'm anything to go by, many of us are not born with.

Domain auctions that are little more than tumbleweeds and forlorn hope are two a penny. As such perhaps DL may perceive this as the 'extra service'. If you don't get a bid at least you have the benefit of knowing that people who routinely buy domain names appraised yours and rejected it - crucial info imho. On so many but not all other auctions you don't even get a sense your domain has even been seen.

A Lot of thought must have gone into this. I do wonder if something better could be conceived. I'd like to see bids starting from £1 for say hidden gems or a new lower category because I'd like anything that forces a non pro domainers [including myself] to conceive that a particular domain could in fact have no current market value with overall long term goal that domainers are perceived as providing some consistent measure of quality - appraisals or some sense of value or potential is quickly determined.

As for 5% fee. It isn't best news but difficult to see what difference it makes given the viable alternatives. Seems to me as the big tech companies relentlessly hoover up more and more of the online opportunities, the no. of domains that have potential to be genuine earners is being continually pressurised.

I'd like to know how many UK domain names get regged/renewed per year and how many UK domain names per year get sold for 5k or more. If this ratio is as low as I suspect it is - and worse if year on year it's getting lower, then structurally [ which is pretty obvious ], the UK internet is mostly spheres within a fairly fixed no. of super websites and what's outside of that, regardless of how numerous is far smaller.

The internet as the domaining system was conceived there'd be a high volume of these sales just like there is in say the housing market.

 

[stitchbob]

5% of £1000 (the kind of area you'd be hoping to get by outreaching your example) is £50. Ignoring server fees, software development, and all the other things provided by the auction platform on a daily basis you really think they should spend time trying to encourage local taxi firms for less than 1 hour pay for several hours work? Just a thought... why doesn't the domain owner do that before or during an auction? Again it's as I said. Auction platforms are not marketing platforms and the site owners really shouldn't be expected to act as a broker. But it's a double edged knife - on the one hand domainers want to buy from others cheap (and lament high prices) but they want to sell at enduser prices to other domainers - all without doing any work. This is why I don't charge. Don't want to use it - don't use it. Don't like your sale price - demand a refund. If you want an enduser or those types then auctions are not the place to be. (note: I am not referring to you specifically - I am referring to the general 'you').

There's a potential risk to the platform approaching end users too. It could cause you to lose a DRS since Nominet are clear that buying a domain with the intention of selling to a specific customer is a potential cause of action.

 

[dougs]

DL model is the established domainerTOdomainer marketplace....accept that is what it is......high turnover low selling prices but quick cash. It has taken years to establish it. 5% is nothing just for the exposure and chance of selling some stuff people have lying round and want turned into cash. If the names are that good then go and do the work to sell them properly.

 

[Lovekraft]

Let's come back a second as I think there are crossed wires. Free platform equals domainers doing their end user notification. Platforms charging fees (5%, 10%, 15% whatever) should really do something for the fee in my opinion. My personal issue with DL at present, and the reason I won't use it, is that they are now charging fees but not really adding to the added service.

As others have said the fee grants you access to an established site with a large traffic of people who are the kind of people who may want to buy your domain. Domainlore is a business and therefore it isn't unreasonable to expect that he might want to take a small cut to make running the site worth his while / profitable. Many domains on there sell for as little as £50, do you really expect the auction platform to be doing your outreach for you where they might make as little as £2.50 for their efforts? With the volume of domains that are listed on there everyday he'd have to hire a team to carry out all this outreach work. Also, just as a comparison, when you sell on ebay don't they charge fee's as well? Do you expect ebay to be reaching out to the public every time you list the inevitable ill fitting jumpers and other unwanted gifts you receive every Christmas from relatives?

 

[LCHappy]

If the names are that good then go and do the work to sell them properly.

Absolutely and that 5% is the kick up our lazy backsides to do that when it comes to selling. It's a shame because we've bought a few nice ones from DL too and if others do the same then as a buyer we won't be visiting.It will take on the reputation of a flea market. Some will say it already is but I'd dispute that. There has been some really really nice ones sell in the past.

At the end of the day, it's a private platform and they are free to do what they want and charge what they want. We are just open to alternatives as we won't be using it again to sell.

 

[LCHappy]

Many domains on there sell for as little as £50, do you really expect the auction platform to be doing your outreach for you where they might make as little as £2.50 for their efforts?

Didn't realise I said they should do it for £2.50. If you are happy to pay, then keep using it, I'm not, so I'm looking for something else.I'm not sure this is a controversial issue.

 

[Murray]

Can't really begrudge a 5% fee, but when you're used to free we will obviously try our best too; It would be nice to get an email sent out about updates like this though

 

[RobM]

And people wonder why there are no other platforms