Every once in a while, someone asks domain investors if there is a tool that would be helpful if it existed. I think it would be helpful if there was a domain name price monitoring tool. The tool would allow investors to keep a list of domain names listed for sale on Sedo, Afternic, Dan…etc. and notify them if the price hit a level they set or below. Investors could also have the option of being notified if a domain name gets listed for sale on a marketplace.
There are many names I see listed for sale on marketplaces that are priced above what I would pay for them. They are names I would love to add to my portfolio, but even the minimum offer is above what I would be willing to pay so I can’t express interest or make an offer at all. Domain name sellers may adjust prices from time to time, and unless I happen to come across the name around the same time, I will end up missing out on the opportunity.
I am pretty sure Sedo emails people when a domain name they previously bid on has been re-added to the platform or has had a lower price. I don’t know if other platforms do that (to my knowledge, the platforms I use do not). If a prospective buyer never placed a bid on Sedo, they would not receive a notification of the lower price.
Aside from the very small number of names I get emailed about on Sedo, I also use ExpiredDomains.net to monitor some names on my watchlist. I also check the platforms for names and can make a mental note if prices have changed. This is not a good way to monitor for price changes but it’s better than nothing I suppose.
There are a few ways a tool provider could monetize this. The most obvious way is charging a monthly fee. Domain investors, myself included, are notoriously cheap and would be reluctant to pay much for this service so that’s probably DOA. A second way is if a tool provider rolled a tool like this into another offering. This could add value to a service and may even allow for a small price raise. In addition, a tool provider could use affiliate links to monetize purchases when a customer clicks the notification link and purchases the domain name. Finally, a tool provider could email domain registrants whose names are being monitored to try and put together deals and take a commission there somehow.
I don’t really know if there is enough upside for a company to make a tool like this, but I think it would be helpful to me and to others who actively buy domain names.
At one time, we were mulling over ideas for tools that could benefit DNForum and its members. This is a pretty good idea as it has a “set and forget” type of functionality, cutting down on the little things investors have to do to spend more time on things that matter, like making money. Furthering this idea, it would probably need to monitor the nameservers to see if the marketplace changed and automatically grab its new price, or give you a heads up that it has sold so you could remove it from your watchlist (unless you have a glimmer of hope that the purchase will fail). I’ll have to pass it on!
hi, Elliot, thanks for sharing this idea, i think it is possible to do it. let me try to look into it. i thought it before but no conclusion, but ur point enlighten me again. i will keep u updated.
“Dear Domain Owner,
I’m interested in buying your domain name. The maximum price I am willing to pay is $X, however I see that your asking price is above that. Should you ever decide to reduce your asking price in future, even years into the future perhaps, please keep my information on file and contact me – this domain is one I am keen to acquire. Please understand that I cannot have open offers for an extended period of time, so just for my safety this offer is limited to 7 days from the date of this email. When/if you ever contact me in future we can both re-examine our situations and hopefully we can come to an agreement. Thank you for your time.