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NameJet Launches, Partners with Net Sol

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NameJet, which launched yesterday, is a new company entering the competitive deleting domain acquisition area of the domain business. In a partnership with Network Solutions, NameJet will be responsible for acquiring and auctioning Network Solutions’ deleting domain names. According to TechCrunch’s Michael Arrington,

“NSI, exercising a change in control termination clause, notified Snapnames/Oversee today that they were terminating their agreement and simultaneously launched Namejet with a rival registrar eNom (eNom is owned by Demand Media).” Source: TechCrunch

This development was reported on Jay Westerdahl’s blog on October 1st. His report included information about a trademark application made by Network Solutions for NameJet.

It looks like starting the Snapnames Seller Program was a smart move for Snapnames, but I hope they don’t lose their active bidder audience, which is the reason I personally listed many names with Snap. So far, I have had success with the program, and I must say their customer service is fantastic.

Hunting for Gems at SnapNames

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Even though it can be a lot of work to search through names to order at Snapnames, it is definitely worth the effort. I recently won an auction for VideoCameraWorld.com for about $110. I was only bidding against one other person, so apparently this name either slipped by everyone else and I found a gem, or other people don’t think this name is as valuable as I do. Some recent –Wold.com sales as report by DNSalePrice.com include:

PerfectWorld.com – $30,000
NudeWorld.com – $23,530
DesignerWorld.com – $21,000
WineWorld.com – $20,000

I know VideoCameraWorld.com isn’t worth as much as those gems, but I believe it is worth much more than $110. Keep on looking through Snapnames – its worth the effort! This is one of the most fun aspects of the domain investment industry.

Snapnames.com Files Suit Against Swapnames.com

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According to this thread on Namepros, Swapnames.com was hit with a trademark infringement lawsuit and will be changing their domain name to Zuho.com. A link to the filing can be found here.

Dumber.com – On Snapnames 9/17

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I have put Dumber.com up for auction on Snapnames on Monday, September 17th. The reserve price is only set at $499, so this is a great opportunity to buy a great domain name at a bargain basement price. Back in 2005, the name was appraised by Sedo at a minimum of $10,000 to a maximum value of $30,000.

Place your bids tonight!

Snapnames Seller Program Announcement

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I received the following email on Sunday regarding changes in the Snapnames commission plan. While the commission plan is good news for higher value sales, names that only sell for the minimum of $60 will have the commission rate more than doubled. Instead of paying a $12 commission on a $60 sale (20%), we will now pay the new $25 minimum. With this in mind, I am going to have to reevaluate the domain names I submit for Snapnames auctions, as most of my sales were for the minimum.

“Hi Elliot,
I

My Experience with SnapNames Seller Program (beta)

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Up until about a month ago, I was never an active SnapNames user. At most, I may have been involved in five auctions over the course of three years, but I heard (and observed) some great sales that occurred on their platform. When I was made aware of a new beta test allowing ordinary people (like me) to auction names on SN, I was immediately intrigued. I wondered whether they would have more success selling my names than I had listing them in various forums and emailing my contacts. I decided to list a small group of decent names, and I didn’t set a reserve. I also listed one “premium” name, and I set a small reserve of $500. If it sold for the reserve price, I would take a loss, but domain investing is a gamble, so I rolled the dice.

To my surprise, a great number of my names sold! In fact, I had listed a group of them on another forum for $25/each to clear out some inventory less than two months before. My premium name sold for over $4,500 and had a bidding battle at the end. All in all, I have done two rounds of testing at SN, and here are the stats:

1) My sales rate on the domain names I submitted was 63%. Of the 30 names I submitted, 19 of them sold.

2) Of the 19 that sold, 63% of those sold for more than the $60 dollar reserve price.

In my opinion, at the present time, the only downsides to this program are the high rate of commission, currently 20%, and also the length of time it takes to disperse funds, sometimes up to a month. As I understand it, there aren’t any discounts on high value names, but a representative from SN may comment and confirm this or hopefully correct my error! All in all, the higher commission fee is worth it for the amount of names that were sold.

From what I heard, the manual process of reporting the auctions is going to become an automated process at the end of this month, which will allow me to view the names that are in auction and the number of bids. This is much easier than emailing the folks at SN – although to their credit, they always responded to me in a timely manner with the details I needed.

I just authorized a group of 60 names to be auctioned, and I will give an update once the auctions have finished. Based on the first two rounds of testing, I think they have a winning program!

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