Greg Ricks is betting a valuable domain on getting attention for his own auctions.
Domain name investor Greg Ricks has added auctions to his Perfect Name site, and he’s putting up a 3 letter .com domain name at no reserve to draw attention to it.
Ricks has already sold the domain name 447.net for $5,150 on the platform. Now he’s upping the game.
I asked Ricks why he’s using his own auction platform rather than one of the existing ones that have lots of registered bidders.
Ricks said he’s sold “a few million dollars” of domain names on 4.cn and likes that platform, but other platforms charge too much. He’s not willing to pay 15% to a service. Perfect Name isn’t open to third-party sellers right now. But if it ever is, Ricks says he certainly won’t charge 15%.
He also likes how holding auctions on his site gives him leads:
Anytime you use someone else’s platform, the customers are not your customers. Same goes for potential customers. You find out who the winning bidder was but you get no information on the 20 bidders that did not win.
That’s a good point.
Of course, it helps to have a huge inventory of valuable domain names to draw attention to your auctions. Ricks has over 300 three letter domain names in his coffers.
Ricks has a bit of experience with domain name auctions, having starting “live” domain name auctions on DNForum back when he owned that forum.