What Do You Think of The New Afternic?

Elliot Silver
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31

You’ve probably already heard (or seen) that Afternic  underwent a major upgrade at the end of last week. The new website looks sleek, and it makes searching for domain names far easier than before.

In the company’s words, here’s some information about the upgrade provided in the press release distributed on October 5:

The new Afternic is a clean, simplified, improved user experience that facilitates premium domain transactions for both buyers and sellers.  New seller profiles allow members to promote themselves and their domains through unique URLs, searchable profile pages, featured listings, and social media sharing. A customizable dashboard enables easy editing, offer management, and personalized reporting to easily track transactions. Both buyers and sellers will benefit from more structured and transparent communication, ensuring that more leads translate into sales.   In addition to these upgrades, the new Afternic features a simplified escrow process and an improved shopping cart experience.

One thing I noticed when I tried out the new Afternic is that I didn’t have the ability to search for a particular keyword at the end of the domain name… i.e. Management.com domain names. I’ve already emailed them to ask where this functionality is (or if they could add it).

One thing which I’ve come to appreciate about NameMedia properties is that when I’ve found something buggy or had a suggestion to make something easier, the company has always seemed to appreciate the feedback.

I welcome you to submit your feedback here about the new website, and I will make sure it gets in front of the right person. Let me know if you see something buggy or want to make a feature easier to use. Ultimately, what do you think of the new and improved Afternic website?

Afternic “Stalking Horse” Auctions on My Blog

Elliot Silver
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32

Over the years, I’ve inquired about many domain names that are owned by Buy Domains and listed for sale on Afternic. There are many names I’ve tried to purchase but I couldn’t reach an agreement on price with the company.

I am planning to test out a unique type of domain auction on my blog in conjunction with Afternic, and I would like your feedback before I start them.

I am going to choose several domain names that I’ve wanted to purchase from Buy Domains, and I will put them up individually for auction. I will place an agreed upon “stalking horse” bid on the domain name, which is essentially the reserve price. Readers of my blog can outbid me, but I cannot bid any higher than my opening bid. If nobody outbids me, I will get to purchase the domain name at my offer. If I lose, the person with the high bid will get to purchase the domain name. Bid increments and payment terms will be specified at the time of the auction.

Here’s an example to illustrate how this will work:

I saw XXXXXXXXX.com at Buy Domains last week, but the $4,088 asking price was higher than I wanted to spend for this name. I will place a $1,000 stalking horse bid on this domain name, and it will be on auction on my blog for three days (perhaps a week). If I am outbid, the winner will get to buy the name. If I am the high bidder, I will be able to buy the domain name for $1,000.

Essentially, I am putting my money where my mouth is, and Afternic is taking a gamble that there will be interest in the domain name beyond my offer.

I would like to know what you think of this idea. Please comment below.

Private Messages: Sedo vs. Afternic

Elliot Silver
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15

When completing a transaction at Sedo and Afternic, all parties communicate via the private message systems found on each platform. The domain broker and/or escrow agent act as an intermediary between both parties, giving instructions and answering questions, while keeping the buyer and seller at arm’s length.

With Sedo’s private messages, the recipient is informed that there is a new message in the transfer center, and in order to see the message, the recipient must log in to his or her account at Sedo. This can be annoying, especially when the update is minor or when away from the computer. You don’t really know the content of a private message until you log in to read it, and you obviously can’t reply directly in the email.

When Afternic representatives send private messages, the full message appears in the email content the recipient receives. The recipient can see what’s happening with a transaction rather than having to log in to an account to read the message. In addition, recipient can reply to the sender directly from the email.

With most domain forums like DN Forum and Domain Boardroom, private message emails include the message in them. I don’t believe the recipient can reply directly via email, but it’s good to know whether the message is urgent or can wait until later.

It would be great if Sedo could include the private message in the email content.

DomainTools and Domain Name Sales Should Hook Up

Elliot Silver
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7

When I am in acquisition mode, I almost always use DomainTools to do my Whois searches to find contact information for domain owners. One advatage of using DomainTools is that I can see if a particular domain name is listed for sale on an aftermarket platform like Sedo, Afternic, or Aftermarket.com.

Here’s what it looks like when a domain name is listed for sale:

This graphic tells me two things. First and most importantly, the domain name is listed for sale by the owner, so I know that I can buy it for the right price. Second, it tells me I can inquire about the domain name using one of the platforms instead of negotiating directly with the owner. This allows me to stay anonymous throughout the negotiations. It’s very helpful to see a domain name listed for sale via DomainTools.

With Frank Schilling’s Internet Traffic parking platform, domain owners can choose to display a bright orange banner announcing that the domain name may be for sale via DomainNameSales.com. It’s not necessarily for sale, but if you see the banner, it’s a good indication that the domain owner is willing to sell for the right price.

If you haven’t seen the banner for some reason, here is an example:

As of right now, it doesn’t seem that names listed on Domain Name Sales are listed on DomainTools, and I think that should change. This would likely increase sales volume, as it is another way to let people know a domain name is for sale without having to visit the landing page.

One issue would be that some people parking on Internet Traffic that utilize the sales banner are only passively interested in selling their domain names, and the likely wouldn’t want their names listed. I am sure this can be easily addressed, perhaps with a check box offering the listing on DomainTools and perhaps other venues.

I think if Domain Name Sales and DomainTools hook up, it will benefit domain owners who would like to sell their domain names.

NameMedia Launches “Wholesale” Domain Name Sales Marketplace

Elliot Silver
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19

Direct Domains

When seeking appraisals, domain owners often ask to distinguish between wholesale value and retail value. The wholesale value is how much another domain owner or bargain hunter would pay, while the retail value is how much a company that needs the domain name would pay to secure it.

NameMedia  operates BuyDomains, which primarily caters to retail buyers, and the company sells millions of dollars in inventory a month. The company also operates Afternic, which sells company-owned domain names as well as privately owned domain names.

This morning, NameMedia announced the launch of DirectDomains.com, which the company is calling a “wholesale marketplace site.” This new site, which is currently being tested with NameMedia-owned inventory, will be targeting “value buyers.”

Here’s what the company has to say about the launch of the new brand:

“As the domain market continues to grow, we recognize that there is a need for a range of price points for difference audiences. We long-ago pioneered the premium domain marketplace, and today we still achieve the highest median price of any domain marketplace that sells in volume. Our research has shown, however, that could be a substantial opportunity in targeting “value buyers” with domains, and so we are testing that concept with this new site.”

I think it’s a good idea, but I hope it doesn’t cannibalize sales from its other platforms. If an end user buyer is looking at two names, I would hope he or she would select the better, higher priced domain name instead of the less expensive option.

Have a look at  DirectDomains.com  when you have a chance to see how the company is positioning the names. It’s a pretty cool looking site, and it’s a neat concept.

First Afternic Auction on Snapnames / Moniker Ends Thursday

Elliot Silver
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1

Afternic  is running its first auction in conjunction with Snapnames / Moniker, and it closes on Thursday, June 21. There are some pretty solid domain names at fair reserves up for auction, and I’ve highlighted my top picks for the auction with reserve prices considered. Unlike most auctions, there aren’t really any names for sale at crazy prices.

It will be interesting to watch the close of the auction since Afternic has considerable end user contacts, and I am sure they’ve reached out to potential buyers, including people who previously inquired  about domain names that are up for sale.

I am surprised more portfolio owners don’t use auctions like this as a means to close deals. Auctions can create liquidity and bring new buyers into the fold along with others who have expressed an interest in particular domain names in the past.

Here are my top choices in the auction with current bid or reserve range:

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