I was following several of my closing auctions yesterday afternoon, and I noticed that NameJet made some additions to the auction page and the backorder details page. For an example of the changes, here is a screenshot of the OV.com auction that is coming up (I have nothing to do with this auction):
You can see there are fields for Reserve Range and Estibot Valuation. If the auction does not have a reserve price, the reserve range field does not show up. The backorder details page also reveals whether or not a Pre-Release Auction will be public or private.
I am glad to see the reserve range field on NameJet auctions. I think it is good to know whether or not I am close to hitting the reserve price when I am bidding. Most other live auctions have the reserve range, and this addition makes sense to me.
The Estibot valuation is going to be interesting. I generally find the Estibot values much greater than I would be comfortable spending on a domain name. I would imagine the thinking is that it could spur more aggressive bidding, but I don’t know how much consideration people in the industry will give to the Estibot values.
Personally, I like to see that a domain name I like “has life” and has a reasonable Estibot value. I am sure I have paid more than the Estibot value on some domain names though.
Some domain sellers may take issue with Estibot valuations being listed on the auction page. The valuable 2 letter domain name OV.com is coming up for auction on NameJet in a little over 3 weeks. OV.com has an Estibot value of $313,000 listed on the auction page. Correct me if I am wrong, but I think the current floor price for LL.com domain names is higher than $313,000. Since this is a private auction, the domain owner might not be so happy that there is an automated appraisal on the auction page that is lower than what its actual value is today.
I reached out to NameJet General Manager Jonathan Tenenbaum, and here’s what he had to say about the changes:
“As to the recent changes on the NameJet website, we want to make our platform as easy to use and informative as possible. So we updated our Backorder Details pages and Auction Details pages to now include (a) reserve ranges; (b) whether an auction will be public or private, and (c) Estibot valuations, along with a link to Estibot’s website for more data. Please note that you may need an Estibot account to get the full range of information they provide on their website.
We added these data points because we think that our customers will find them to be useful. The most interesting addition, and the one that will likely generate the most conversation, is the Estibot valuation data. Domain name valuations can be very subjective and based on a large number of factors. And while an Estibot valuation may not always match what a domain sells for, it can at least provide a reference point. Plus Estibot provides a great amount of additional information on each domain that our customers can find helpful. Estibot is one of the most popular and well-known domain tools in the market, and we want our customers to have easier access to this kind information to help them research and assess domains they are interested in.
So we are excited about these changes and hope our customers will be as well!”
Shane Cultra also mentioned the changes, and he shared his thoughts about them. I am curious what you think about the changes at NameJet.