Aftermarket Auctions open for business

DavidL · #1 22-09-10, 02:46 PM

We are finally ready to roll out our regular domain aftermarket platform!

Auctions will run weekly every Tuesday (starting 5th October) for 7 days with a maximum of 50 domains in each auction.

We have a $5 listing fee, and charge an 8% sales commission.

If you elect to submit a reserve, we charge 4% of this reserve amount (capped at $200) but this fee is refunded if your domain sells.

So please feel free to jump on board now and list your domains. Please let us know any feedback you might have too.

Thanks

David

http://www.netfleet.com.au/aftermarket-auctions

Nova · #2 22-09-10, 03:19 PM

Looks good

A couple of cosmetic issues - can you reduce the padding inside each listing - each listing is too tall IMO. Also, when you hover over each domain the alt text says "View .... bid history" but you can't click or view the history.

Nova

DavidL · #3 22-09-10, 03:42 PM

Thanks Nova - I'll pass that onto Mark to get sorted.

Much appreciated.

EDIT: Fixed Now!

DavidL · #4 22-09-10, 05:40 PM

Only 9 spots left for the first auction. Better be quick!

Max · #5 22-09-10, 06:13 PM

Quote:

Originally Posted by netfleet

We are finally ready to roll out our regular domain aftermarket platform!

Auctions will run weekly every Tuesday (starting 5th October) for 7 days with a maximum of 50 domains in each auction.

We have a $5 listing fee, and charge an 8% sales commission.

If you elect to submit a reserve, we charge 4% of this reserve amount (capped at $200) but this fee is refunded if your domain sells.

So please feel free to jump on board now and list your domains. Please let us know any feedback you might have too.

Thanks

David

http://www.netfleet.com.au/aftermarket-auctions

//If you elect to submit a reserve, we charge 4% of this reserve amount (capped at $200) but this fee is refunded if your domain sells.//

I dont get it .. please explain .. in detail

(capped at $200) but this fee is refunded if your domain sells

It reads like .. $200 up front (expensive names) ? to list if you have a reserve but you are going to refund the $200 if the domain sells ? what if in the unlikely event it doesn't sell ?

Confused ..

Nova · #6 22-09-10, 06:24 PM

The way I read it all was:

- $5 listing fee, regardless
- 8% sale commission if it sells
- if you choose to have a reserve, they charge 4% of the reserve price as an additional fee (that is refunded if the domain sells) so if the domain doesn't sell, they still get 4% of the reserve price. If it sells, you only pay the 8% sales commission

I'm sure they'll clarify but thats how I read it.

DavidL · #7 22-09-10, 06:42 PM

Thanks Nova - I think you explained it better than us!

By charging a fee based on reserve, we're hoping that people will enter realistic reserves (if any) and so a decent proportion of domains will sell. Nothing worse than domain auctions where 95% of the listings fail to meet reserves IMO.

What do you think? Will it work? Or do you think it's unreasonable to charge an upfront fee like this for domains with reserves?

Drop.com.au · #8 22-09-10, 06:52 PM

Congratulations and best wishes for the new format David and Mark!

Cheers

Andrew

mark · #9 22-09-10, 07:25 PM

Quote:

Originally Posted by Nova

The way I read it all was:

- $5 listing fee, regardless
- 8% sale commission if it sells
- if you choose to have a reserve, they charge 4% of the reserve price as an additional fee (that is refunded if the domain sells) so if the domain doesn't sell, they still get 4% of the reserve price. If it sells, you only pay the 8% sales commission

I'm sure they'll clarify but thats how I read it.

Thanks Nova, as David said thats correct. It's important to also mention that as all starting bids in the auctions are $100, this amount is deducted from the reserve price fee calculation. So if you enter a reserve of $200, we will only charge a 4% fee on remaining $100. The $200 capped amount is the maximum you will pay for your reserve fee. So if 4% of the reserve price is more than $200, the reserve fee you pay gets capped at $200.

An example taken from the t&c's when you go through the wizard:

Example fees C
1. You list your domain name with a reserve price of $200
2. You are charged $5 listing fee
3. You are charged 4% of $100 (reserve price minus the default $100 starting bid), which is $4 (total fees therefore $9)
4. The domain sells for $1000
5. Commission is 8% of $1000 = $80.00 AUD, and your reserve fee is deducted from commission, leaving a final payable commission of $80.00 - $4 = $76.00 AUD

If you jump on the site and have a play around with figures in the Members Area it might help. All being said, we'll look to make this information more readable and clear throughout the site.

Thanks for feedback and the best wishes!

Cheers
Mark

djuqa · #10 22-09-10, 09:04 PM

I was excited when first heard of the Auction, I was then utterly confused by the listing fee formula. Totally killed my desire to list anything at all. This was after I had already pulled a name that has attracted 5 offers over the last 48 hours on netfleet sale section so I could list it at auction.

Whoever thought up that confusing fee structure needs to take some marketing courses. If RealEstate or eBAY auctions where done that way, no-one would sell anything houses by auction at all. What is wrong with just a standard listing fee, then percentage when sale made.

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