SnapNames, the most popular expiring domain marketplace, will begin auctioning off domains that aren’t expiring.
Expiring domains sell for a premium at SnapNames, thanks to auction frenzy. Domains that receive little attention while they are registered suddenly sell for $10,000, $20,000, or more. SnapNames is efficient and it’s much easier to buy domains at SnapNames than to individually contact domain owners before domains expire, even though you will likely pay more to acquire a domain at SnapNames. Last month I wrote:
There are a number of times that a SnapNames auction comes down to two bidders. These two bidders fight each other, boosting a domain from $5,000 to $20,000 until one bails out. What would have happened if one of these bidders was on vacation? Or if one decided to focus on another domain? The final price might be $6,000 instead of $20,000. So what would you sayâ€¦the domain is worth $6,000 or $20,000?
If you were to take a domain on SnapNames and sell it in a different environment, such as a negotiation on Sedo with one other party, nine times out of ten it will sell for less. I’ve often thought it’s a shame we can’t add our existing domains to SnapNames to be auctioned off as we would be able to sell our domains quickly and for more money than other venues.
Now individual domainers might get a chance to take advantage of SnapNames’ platform. The company just announced it is beginning a beta of selling domains that aren’t expiring. Right now the company is working with select sellers and is testing various starting bids to see what results in the highest prices. If successful, look for individual domain owners to be able to list domains for sale on SnapNames in the future. According to a recent email from SnapNames:
We have begun testing sales by private parties through the SnapNames auction. When these names are offered you will see a special list on the download page, and they will be fully integrated into our search results. You will also see different minimum bids while we test which price settings yield the best results for buyers and sellers alike. For now, we consider this a beta program and have only opened it up to a few sellers. We will let you know by email as we open more opportunities to participate.
To illustrate the power of SnapNames, here are some recent sales. Keep in mind that all of these domains were expiring. The owners of these domains let these valuable assets expire.