Survey shows Escrow.com is leader at facilitating large domain purchases.
34% of respondents in Domain Name Wire’s third annual survey said they prefer to use Escrow.com to safely pay for high dollar domain names they buy.
Escrow.com is popular with domain owners because it was designed as a fully automated platform for escrow and has a particular focus on domain names. Pricing is also reasonable:
$5,001-$25,000 $162.50 + 0.26% of amount over $5,000
Escrow.com set its escrow service up to be in full compliance with all state requirements. I believe it is a licensed escrow service agent in all 50 states at this time. That’s more challenging than it sounds given that laws vary from state to state.
Here are the complete results for this survey question:
1. Escrow.com 34%
2. PayPal 23%
3. Sedo escrow 22%
4. Wire Transfer 13%
5. Other 5.4%
6. Afternic escrow 3%
Of course, one’s definition of “high dollar” domain purchases may vary.
A number of domain buyers still transact using PayPal. This is dangerous, as a seller can disappear with the money and PayPal won’t help you get it back because it’s a non-tangible good.
Next year we’ll add Moniker’s escrow service to the list. Moniker pioneered domain escrow in the late 90s and has increasingly become a dominant player in the space (outside of transactions from its auctions).