Could Namejet.com be the most effective sales platform for domains?
This was suggested by one of the readers to this blog earlier today.
After weeks of strong domain sales on NameJet, a case be made that NameJet.com is fast becoming the most effective platform for high priced domain sales.
Today a very good domain, BikeHelmets.com, a domain which we bid up to $15K, sold for $50,250 on NameJet.com
Another domain, shotglass.com sold today on NameJet.com for $16,655.
As we reported yesterday a 2 letter domain, ZL.com, is currently at auction on NameJet.com
Today bidding hit $33,100 with a little less than 2 days to go.
Last week we reported that the domain freeporntube.com for $34,800 on NameJet.com
Last week also saw the domains, sleeper.com sell for $10,100, freepornotube.com for $5,009, overcoats.com for 6,400 and housepaint.com for $5,700.
Also last week saw big sales for the reauction of Lets.com which closed at $25,700 Vida.com.
Also I saw reports that igen.com had a bid of six figures at NameJet.com but never saw a report on the closing amount.
Certainly no one can doubt that big money domains are flying at NameJet.com
“Lets” do what with this name? $25,700? Really? I have noticed for a while that domains sell very high prices at NameJet. Higher than names at live auctions that in my opinion are of higher quality.
One answer I think lies in human psychology. People like to treasure hunt. They say to themselves “wow, someone wasn’t on the ball and let this name expire” when they look on NameJet.
Why not make offers for $300 – $1000 for names at Sedo that have keywords in them that people actually search for?
I think it may be because they think that if someone is trying to actively sell a domain name then it must not be valuable.
Fundamentals is the key. The question buyers need to ask is “how could I develop and build a business around this domain?” .
They have many of the best names from two of the oldest and biggest registrars, enom and NetSol.
with netsol names, yup – they Reign !
….I bet they’d really like Register.com onboard too !
@Chief Naming Officer – Let is the British equivalent of Rental. Lets.com is an excellent name in the UK and most of the Commonwealth.
@ Jeff – Thanks, that makes more sense. Rentals is a huge industry with lots of competition (therefore potential domain name buyers) and a profitable one.
Chief Naming Officer is on the money.
People think the can get a great bargain on websites like NameJet by buying expired / about to expire domain names at online auctions.
IMO Most Effective Platform = the worst domain platform this industry has ever seen. Its days behind snapnames, pool or namewinner. The only thing it really is, is the IT platform of the current day.
Its also the only platform with “shill bidding” as part of its biz model. So yes its the most effective platform for shill bidding and shill bidders.
@Chief Naming Officer – It’s seems a touchy subject but there have been a good number of sales over the years that defy any logic or justification. I mean at all of the venues … but one or two in particular. When you go back to see what was done with the questionably high sale domain, you find that it’s parked and making a tiny fraction toward it’s purchase price. Or, the domain does not resolve or was even dropped. That’s weird. Raising the suspicion level is the disproportionate use of whois privacy on these domains.
Not sure exactly what this indicates but for me it raises a question as to the authenticity of some reported sales. Many of these domains have limited development potential and derive little revenue. So the buyer, if real, is extremely wealthy with money to burn … and/or there’s this multitude of wealthy, uninformed buyers standing in line to make a naive investment in mediocre domains. If the buyer is an educated domainer, then he/she is getting practically no return on their investment which begs the question –> are many of these sales even real?
FX you say “Its also the only platform with “shill bidding” as part of its biz model. So yes its the most effective platform for shill bidding and shill bidders.”
That is a very damaging statement. I don’t think you realize how wrong a statement like that can be. If there was a single shill bid that was discovered it could wreck the entire company.
Please provide proof of your statement of fact.
FX
I agree.
You have an proof of shill bidding?
I know there are dead beat bidders, but that is another issue and the domains are re=auctioned starting at the point the dead beat bidder, bids are removed.
You are saying that people associated with the auction house are placing bids for the sole purpose of driving up the price.
If so lets get it out in the open.
Otherwise its an unfair statement
Mr. Menius
I see domains ever week on Ron Jackson’s report selling all over the place, including as private sales, that I don’t think have any commercial value for $10K-$25K.
I don’t think what you are suggesting is happening, not because I think everyone is so ethical but because of the economics of such a plan.
If you were running an auction house and engaged in such a practice you would have to weigh the benefit of shill bidding, getting a some extra money out of your bidders against the fact that you would forgo sales and getting stuck holding a ton of domains.
Take a name like yesterdays bikehelmets.com
First of all I was bidding as I said up to $15K.
I also know the buyer and he is a real guy who spends plenty on domains.
However lets say there was in-house bidding.
When would they stop? 40K, 45K, 50K, would they be willing to give up a $40K sale by bidding 41k?
If true, its a tricky business as best. One in which you give up cash for inventory you don’t want.
Also who is doing it?
The registrars, who only get a portion of the proceeds?
The drop service, which only get a portion of the proceeds?
If its the drop service then they would still have to pay the share it owes to the registrar. So they would have to take cash out of pocket to pay the registrar then sit on the name.
If the registrar was doing it then the reverse would be true.
I just don’t see it as a good business decision.
Add in the fact that one ex-employee writes a tell all and the business is over.
Now if they can just keep bidders from backing out.
Sorry mike I reported on the bidding but forgot to update the sold price on igen.com . . … $100,100
http://www.domainnamenews.com/up-to-the-minute/igencom-at-namejet-current-bid-100000/3109/en/