I placed a pre-order for the domain name Cool.Vegas on a landrush basis with 101domain.com a while back.
I got word the other day that the domain name was placed on the reserved list of the registry and made a premium domain.
So I got a bill for the difference between what I previously paid for the pre-order $234.99 and the new premium price for the domain name of $35,760.00
I have no idea of how the .Vegas registry thinks a domain name like Cool.Vegas should be priced at $35K
I reached out to DomainNameSales.com and chatted with Wade Smith who quoted me a price of $12,000 for the domain name CoolVegas.com
So basically the .Vegas registry has priced their new gTLD domain name three times higher than the equivalent .Com domain.
I think this is what happens when you don’t have an experienced domainer or domain investor on your team. Although the .Vegas guys are the same team behind the very successful .cc registry (from the registry standpoint) they are not “domain investors”
There is a difference
If you haven’t figured it out already, I will not be sending in the Extra $35,525 so if anyone wants to own Cool.Vegas for just $35,760 have at it.
Dear Worldwide Media, Inc.,We are writing to notify you that there has been a pricing change on your pre-ordered domain name(s). Until accepted and confirmed by the registry, all pricing and dates are subject to change and, in this case, the registry has classified the below domain name(s) as premium domain names. Premium name lists may change prior to a new domain name extension launching which we unfortunately have no control over.The premium domain name classification system was put into place by the registry as a way to simplify the premium domain name auction system. These premium domain names are being offered at a higher yearly/multi-year rate than normal domain names. In order to register a premium domain name you must pay the increased registration price in addition to any set-up fees you may incur (Sunrise, Early Access, etc.).
This premium registration price is a one-time fee for .VEGAS, renewals will be $150 after the first year.
In order to keep your pre-order locked in, please log into your admin panel and pay the outstanding invoices. We will hold your order(s) for 10 days to give you time to pay and keep the name locked. Failure to pay within 10 days will result in the name(s) becoming available for other customers. If you choose not to pay the difference, 101domain.com will refund you the amount you have already paid.
We anticipate these .VEGAS Premium names to be some of the more valuable domain names in the new gTLD program, and as noted in the Las Vegas Review Journal “.vegas has long been in the top 10 in polls of domain names consumers say they would most like to see”. We highly recommend you consider opting-in for these premium names.
If you have any questions, please don’t hesitate to contact us at support@101domain.com, or log in to your admin panel and submit a support ticket.
We thank you for your continued business and apologize for any inconvenience this may cause you.
Best Regards,
101domain.com
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So, did you paid the outstanding invoice or not 🙂
NOOOOOOOOOOOO
You got comped for that “Cool Vegas”, now you get the bill for the mini-bar, dancing girls, croupier, and that guest appearance by Mike Tyson. Only in Cool or Hot Vegas. It’s not the money. It’s the “memories”.
Sounds like the .Club launch.
The blogs/comments about the new gtlds are so F comical.
How do you expect those outside the domain community to take it seriously?
You guys are shooting yourself in the foot and ruining your own reputation.
Oh well…back to “BullS”
As we are on subject of prices, and please do not shoot me for kind of “hijacking” this thread, but I received an enquiry from a well known company in the domaining World asking for a price for a domain I owned. I said not to lowball me, but they ignored me and offered $2500 .Last time I bother with those amateurs.
Let me explain; the reason they priced it at $35,760.00 is they have ONE interested sucker (sorry Mike),
if the would be two the price would be $357,600.00, three $3576,6=000.00 and so on.
$3.576.000.00
On the flip side, I’ve registered keyword.gTLD combos, where the matching .com belongs to Mike Mann; his asking prices are in the six figure range. So it can work both ways.
Acro
How is it like the .club launch?
Mike, it was a reply to Steven Sikes and the glitch/glamor/girls part of the .Club launch experience.
Novak
I don’t think they priced it at $36K because they got one pre-order on the domain.
Actually I have no explanation how they =priced the way it did.
I know registries are using estibot as well but the value of coolvegas.com is only $390
I think these guys are registry operators that have really no idea of what domains are worth.
They are not domainers, they are not domain investors.
I can only assume the took the .buzz theory and priced any domain that had a new gTLD extension (.cool is an extension) and priced them at the same price or a minimum price of $36K.
You’ve got to marvel at the insanity of some of these new gTLD prices. They are unproven gTLDs with no real demand or development but the registries feel the need to price the premium domains out of the range of most businesses and domainers. The development aspect is what these registries seem to be missing. It is all fine and well to price a domain as a premium but if nobody visits or develops sites in that gTLD, then it is like a truckstop in the desert (or Vegas before the gambling). Perhaps the .vegas registry is basing its pricing on casino rules where the house always wins?
Price Jacking Woooooo
It’s because it’s a one word domain name.
Even supposing a person wanted to reject ye olde .COM, he’d have as options — in addition to Cool.vegas — that same “Vegas” keyword plus any number of vanity extensions.
And that’s where the registries begin the Limbo dance to lower their prices in order to attract the one buyer …
Let’s try another view on this:
Dot Vegas, Inc. (the .vegas registry operator) issued a premium list. Typically it doesn’t make sense to publish (or even finalize) the premium list month ahead of Sunrise. So at the time when Mike placed his “pre-registration” at 101domain.com that registrar had no clue what is premium or not. The “pre-registration” was just a marketing gig of the registrar. NOW that the premium list is available 101 can turn these “expressions of interest” into something that comes closer to “pre-registrations”. That is: A 101 customer instructs 101 to try to register cool.vegas in LR in August. But wait: This is a premium domain name at a premium rate. So far I do not see any “problems” or even “irregularities”. 101 could maybe have been a little more clear about the “nature” of their alleged “pre-registrations”.
Now even with cool.vegas not being on the premium list (which would have show cased that the registry operators are plain nuts) it still would NOT have been sold for reg fee: I think it is safe to assume that a number of registrants would have instructed their registrar to register cool.vegas. Per the registries policies in the event of multiple registration requests per domain the contention would be resolved in an auction. So no way this name would have gone for 234.99 USD. Unlikely.
Now the premium pricing:
What makes anyone here thinking that Dot Vegas, Inc. assumes the domain is worth $US 35k? That’s pure speculation. I assume they have a premium list and simply attached very high “buy now prices” – you never know: Maybe someone bites. And at that price the hope is that the buyer ACTUALLY USES THE DOMAIN – instead of parking it 10 years while waiting that the “TLD matures”.
So my best guess: “cool.vegas” is a target for their auctions and pioneer-like proposals of developers. But if some real deep pocketed end user wants to “buy now” – OK, so be it.
I think this is very sound and strategic thinking. If my guesswork is correct. Maybe I give them too much credit here.
coolvegas.com versus cool.vegas: Why is everyone so sure that the .com is worth more?