By: RH
Most domain investors check out NameJet just about every day. The quality of inventory and the number of bidders are there day in and day out. I like NameJet, buy there and Hybrid Domainer is an affiliate of the site. There are a couple things I would like to see changed.
Specify Private Auction Sales
NameJet allows certain people either due to the quality of their portfolio or the relationships they have made to sell through NameJet. That's a nice feature and a way to keep members engaged with your platform.
These names should not be just shown under pre release with no other notes in my opinion. Someone bidding should know that they are bidding on a name that is being sold by an individual and not expired.
Go Daddy allows your auctions to be mixed in with expiring auctions, but you can click a button and see what kind of auction you are bidding on.
I have always believed expiring auctions just get bid higher so there is the benefit of having people think the name is expired. Domainers seem to feel its a better buy that a gem was left to expire, rather than another domainer is selling some inventory. I know this to be fact as I have had people who are friends or clients not be as interested in a domain when finding out it was not expired.
I once emailed someone who I had brokered names before and let them know a name on Go Daddy was at $80. The name was in their niche and this person would have a decent budget for the name. The first email was, "thanks for letting me know about the auction." The second one was,"Why didn't you tell me it was a public auction ?" The name was the same, we had discussed his budget for names in that niche and it was low x,xxx. The fact that someone else was selling affected him pschologically. I was not the seller getting him to buy my name, it was just letting him know that it might be a name he liked.This was not the only time I have had someone lose interest when the auction was not expired.
NameJet may also look at the fact if they denote private seller vs expired that everyone will be emailing them to get into the sales channel. Either way I think it should be noted for full transparency.
Minimum Pricing
The second suggestion of mine would be to lower the minimum price. If a domain is good its going to get way more than $69. If its not they could still do some business they would otherwise not have.
If you start the bidding at $20 then you may get a lot of so-so names with one bid and get $20 for names that at $69 someone will pass on and wait for it to drop. True someone else could beat them to the drop but there are a lot of names where someone will think, "For $20 sure I will buy it but for 3 and a half times that, no thank you."
If someone wanted to save some money they could watch the name at NameJet with 0 bids and then place a back order at Name.com and the cost would be $49.99. I know a few people who do this almost daily with .tv domains. $20 is not a lot on one name, but if you are an active buyer those $20 savings add up nicely.
Start them at $20 and make more money on the thousands of potential names daily that usually get no bids at $69. I think it benefits everyone.
So those are my two suggestions. What do you thing ? What would you like to see improved ?
I agree with both suggestions. I want to know if I am bidding on a private sale.
$20 minimum bid would be sweet and you are right about them selling more names that way.
I work with Namejet so I have a conflict of interest but I’ll still add a few comments. What does what kind of name it is have anything to do with buying the name. Either you want to buy the name or not. The source has absolutely no relevance to the value of the name. There is no data to prove your point about being bid up.
Namejet is successful because it has quality names. That quality is filled with private names. Without it, there would be nowhere near the amount of people coming every day. Ask snap about that. Godaddy can make it happen because they have 5 times (made up number) the amount of dropping names. Godaddy points out private sales so you know that you will 100% get that name. The others are subject to renew al by original owner.
Third. As a business owner you test the minimum price to determine what people will pay and continue to buy your product. Namejet gets tons of fills at $69. What price point would it take to change a persons mind as to whether they are going to buy the name. $59? $49. Its probably a lot lower. It would take a lot of extra sales to make up the difference and I don’t think it would be there. Namejet is run by smart people and they know the stats and are killing it. Users are very happy as well. Them and Godaddy own the auction market right now so why in the world would they change.
Last. You have a problem or opportunities for Namejet you should just write Matt Overman. One of the nicest guys in our industry.
Thanks for the comment Shane.
To your first point, I agree and would love to know why. But I speak to people all the time and have had clients not interested in bidding if it was a private sale. I have been following this and having conversations for a long time about this. Again let me make the point, I agree and have never understood why people prefer expired over non expired.
To your second point, I am great with the private names, it just should be transparent.
To your third point, the price I said was $20, and it was not a problem its one man’s opinion. I don’t expect NameJet to change that,I was pointing out that names worth a certain amount will still get bid up from $20 to say $69, and the good names will go very high. They would just sell some more that someone would not want to pay 3 1/2 times for, again imo.
Shane I was not aware you worked with Name Jet in more than an affiliate role, can you share what you do with them ? If not no prob.
I can answer you Shane,it makes a big difference to me whether the name is expired or I am buying your inventory,especially when NameJet is deceitful and hides the fact. As an employee I understand you defending their shady tactic.
I did not know you worked with NameJet Shane. I agree that classification should not matter, expired – public – registry.
To the lower min bid that is spot on. There are names I would pay $20 for that I am not paying $70 for.
RH,
I sell on Namejet.
Other than “because I want to know”, I still haven’t seen why it makes a difference. A domain is a domain. Either you want the domain or you don’t. Do you care who’s inventory you’re buying? Really? I bet you don’t even know which registrar’s expired domains you are buying when you buy at Namejet.
Never in my life have I purchased a domain based on whether it comes from an individual, a company, or a drop. I buy it because I think the price is fair compared to the return I can get from the domain. If you really want to know do a whois.
I can see this is an argument I won’t win but it makes no logical sense. I can’t argue with “because I want to know” answers.
Shane you seem to be taking this personal. I know people have expressed to me that they would like to know. If you don’t care that’s fine I get that. You and I are on the same page about if you like it you buy it. FYI I do know who the registrar is on expired names.
@shane if it makes no difference why would you care if people know. I am a customer and I want to know that is all that should matter.
I thought the industry wanted more transparency ? Name jet should let customers know what they are bidding on. I too wonder why Shane cares so much if it is no big deal ? Transparency is vital to the growth of the industry.
$20 sounds good
i get sick of seeing namejet reserve on domains that i get all excited about dropping. i don’t even bother bidding if there’s a namejet reserve or it’s a private sale, because the seller probably wants too much money. usually they end up dropping a few years later.
intermingling private sales into dropping is sketchy in my mind and namejet should stop it, but they probably do it on purpose to get more attention to them.
What is so blatantly obvious is that someone with an agenda of selling on namejet wants it to go without much fanfare. Jimmy brought up another good point about the reserve.
The other point to be made is that not everyone loves namejet and their platform, someone above stated users are very happy. I am a user and I am not happy.
“What is so blatantly obvious is that someone with an agenda of selling on namejet wants it to go without much fanfare”
Beat me to it, Ken. A seller there certainly would.
I do not like buying ‘sellers’ domains on NJ as much as expired names. I too think it is a bit shady how they mingle the two together.
Also, aside from developing the domain, why would I want to acquire a domain name that the previous owner has (most likely) thoroughly exhausted all enduser leads on, with no success?
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I have also posted the following on Namepros, but it bears repeating here:
Always do a search on Whois before bidding on a Namejet pre-release; if it’s not an expired domain, then it’s a private sale.
I think that the pre-release designation is there to deceive potential bidders. Period. So it’s doubtful that Namejet will change it, UNLESS people refuse to bid on these auctions. As long as everyone follows them like sheep, then it will be business as usual.
From day one, I have been suspicious of Namejet. I don’t trust them. I have bought very few domains from them and have refrained from placing bids on “on-the-fence” domains. After one stupid mistake, I bid only the the minumum and only when there are a lot of bidders (mostly to watch).
I don’t like “private” sales at Namejet–too much opportunity for shill bidding.
What’s to stop a seller from calling up a buddy or two across the country to pump up bids? Very difficult to catch, I’m afraid.
Many people are honest, but some are not and will do anything for the almighty buck, euro, etc.
Love everyone, but trust no one.
In the case of Namejet, always keep one eye open.
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Shane you look even worse starting your own thread about this and the people in the comments mostly don’t agree with you.
You asked to prove shady ? People talked about snampnames years before they found out they were right all along.
If you cannot see the conflicts here then you are either in love with namejet or an idiot.
Stop the fight ! Raymond you won by a knockout, someone throw in the towel Cultura just looks worse and worse.
The ol’ I don’t care but I will write a post about it.
Transparency ? Where is the transparency from Name Jet on what qualifies someone to sell on Name Jet, buying lap dances at domain fest ? It certainly was not the quality of their portfolio.