Domain aftermarket to add new features, time frame unclear.
Domain name aftermarket Afternic is adding two new features. One I support 100%, the other one gives me a couple concerns.
The first feature is a listing verification system. Domains will be verified for proper ownership when they’re listed. But the system will also periodically verify ownership while a listing is live. This is a great feature that will reduce the chances of “buying” a domain that really isn’t listed for sale. Honestly, it will even help me as a seller. When I sell a domain through a different venue than Afternic, I don’t always remember to delete the domain at Afternic. It will be helpful if the site alerts me to the ownership change. Of course, the system will need to account for various ownership names that a seller’s domains are listed under (e.g. multiple company names).
The second feature is a feedback system similar to eBay. This could be helpful if implemented correctly, but I have two concerns:
1. Every member should have 100% feedback. If they have one bad transaction (either they don’t pay or they don’t end up selling the domain) they should be kicked off the platform provided there aren’t extenuating circumstances.
2. I don’t want sellers to know that I’m a “regular”. If they see I have a feedback rating of 20, they might assume I have deeper pockets to buy their domain.
It’s great to see that Afternic is innovating. The verification program will improve the quality of the exchange. As for the feedback system…the jury is still out.
M. Menius says
Seller/ownership verification is a great step. Every aftermarket dealer should be doing this. The next critical step is some type of BUYER verification so that bidders/buyers must consistently honor their offers through online sites like Sedo and Afternic, as well as the big event live auctions.
Steve M says
Good ideas, Andrew and M.Menius.
If they don’t perform on a sale; whether buyer or seller; kick ’em off the platform.
And w/feedback “ratings”; and with Afternic handling the escrow anyway; why bother? What’s being rated…that a seller or buyer was “nice?” Friendly? Transferred quick?
Just not the same dynamics and factors at play in this marketplace as with largely-products eBay.
Pete Kosednar says
“I don’t always remember to delete the domain at Afternic”
I bought a premium domain at Godaddy.com and was shocked to see the domain I bought listed for sale at Sedo after the close of escrow.
The owner of the domain had failed to remove all of his listings of this geo real estate domain name. Sedo has no “live help” and had to deal with multiple emails to correct the problem.
I have had great success with TDNAM, Snap Names, and Ebay for my buying and selling domain names.
Rob Sequin says
More “innovative” than Sedo 🙂
Seriously, two great features. I hope Afternic generates many more sales because of this.
Andrew says
@ Pete – If you submit the domain to Sedo for your account they’ll automatically check it since it’s already in the system. But that’s not ideal if you don’t want to add it to your account.
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