Mike Mann is planning to open DomainMarket.com to third party listings, he announced in a public Facebook posting today. DomainMarket.com has been used exclusively to sell domain names owned by Domain Asset Holdings, a company also controlled by Mike Mann.
The Facebook post makes it clear that there are certain requirements that need to be met for a domain name to be listed on DomainMarket.com:
“As I mentioned DomainMarket.com will open a domain brokerage asap, which will have very strict rules and be very automated, with very low fees and high quality services. Only .Com is Rule 1 (may expand with .co and .org). Rule 2 is must have a good appraisal or price range meeting our standards. Rule 3 is it has to point to our landing pages. Rule 4 is it uses our commerce platform. Rule 5 is length of contract. That’s it, then you get the best at the lowest fees.”
Third party domain name appraisers will be used to ensure the domain names listed by third parties meet the $10,000 minimum valuation requirement. Mann is currently seeking out appraisers whose valuations would be used for third party listings. The Facebook posts did not offer specific details about these rules.
Domain names that are listed for sale on DomainMarket.com will have the same landing page as those currently listed. In addition, third party domain names will be sold using the current payment processing system in place. It is not yet clear what the commission rate will be for deals closed via DomainMarket.com.
There is a “make offer” form on each landing page, and it is unclear how prospective buyers and third party sellers will be able to negotiate via the platform. I understand that those details will be published once the platform opens up for sellers.
Opening up DomainMarket.com makes sense for Mike Mann. The platform was created and used to sell house-owned domain names, and there are likely just a few changes necessary to bring on additional sellers.
Now the question about valuation , he will use estibit ?
No, Mike is going to use his own domain name appraisal software.
DomainMarket isn’t really a marketplace since their search function is really bad. The only people this benefits are those that have great names and want nothing to do with the sales process. At only 5% commission this is an absolute no brainer for many old school domain investors that have great inventory but no desire to actual sell them. Mann throws them up on a lander and makes easy money doing nothing.
I’m sure these listings will be for Buy Now only. At such a low commission rate he won’t waste any time negotiating with anyone.
Todd is incorrect all around
Great Plan and Definitely a Major benefit to the Domain Name Market Business !!!
Mike Mann have his own way of appraising names. Not really sure what that is but I did compared a couple of my names with a few of his that he either sold for 5x or have for sale at 5x. Two of my similar names out ranked his sales that he posts, in exact match, broad, estibot, valuate, character length and sound of name. Maybe he does direct e-mail selling or something. I want his secrets!
“$10,000 minimum valuation requirement”
This is a great idea but I can see some problems with it.
Lets see what happens.
I speculate Mike sells more domains (units) under $ 10k than above.
Mike has the ability to sell a piece of coal at industrial diamond prices. I’m impressed weekly. (Its a compliment.)
When does he have time to do this new project when he has a young baby and wife to care for?? Years ago, we use to joke that MM never slept.
OnlyCom.com and must be a ValuableName.com.
Sounds like there is going to be some NameSelling.com happening. 😉
So he is now into appraisal scam? Does he needs money?
Where did you come up with that (bad) idea? I couldn’t imagine Mike doing anything like that.
I think it’s a semi-retirement thing. Cash flow generator. But I could be wrong.