NameJet Should Broker Names That Didn’t Meet Reserve
I am a regular bidder on NameJet, and I find myself bidding on auctions that have reserve prices. Oftentimes, these auctions do not meet their reserve prices, and the domain names don’t sell. I think NameJet should try to work with sellers and bidders to close deals on domain names that did not meet reserve prices.
In my opinion, if NameJet were to privately broker deals on unsold domain names, it would be a win for all three parties. Sellers might be able to sell more inventory, buyers would get to buy less expensively (and privately), and NameJet would earn a commission on any sales it helped to close.
Sellers won’t have to deal with collecting a payment, and they also don’t need to worry about handling the transfer. Buyers can easily submit their payment in the same manner as it would have been submitted had it been an auction, and the domain name would be transferred immediately upon payment. There is far less friction with this type of transaction than a private transaction between two parties that haven’t done business before.
The reason this works is that sellers don’t necessarily know the identities of the bidders for their domain names. NameJet knows this information. NameJet is also a trusted platform and would be able to facilitate these deals more securely than people on their own. They know their clients’ payment records and can ensure a secure transaction for all parties.
One potential pitfall of this is the likelihood of this having to be a manual service. This means the company would likely need additional staff. From my perspective, though, the amount of revenue generated from commissions would be substantial.
I think it would be great to see NamJet reaching out to buyers and sellers on unsold inventory. This would help drive revenue for sellers (and NameJet) and provide good deals for buyers.
Reach out to Elliot: Twitter | Google + | Facebook | Email