When I “hide” my ads on Afternic
I have been asked to list domain names with Buy It Now prices on several sites. For almost all of my inventory grade domain names, I list them on Afternic / GoDaddy and Dan.com with Buy It Now prices. I know there are lots of other investors who also use marketplaces like Sedo, Epik, Efty, and a few other sites.
One concern I had is that a domain name will sell to different buyers on different platforms. While it might seem unlikely, it’s easy to imagine a scenario in which it would happen. For example, a phrase can become a social media hashtag, and before a domain owner can update prices or delete sales listings to reflect the growing popularity of the phrase, buyers use the option to immediate purchase on multiple platforms.
When that happens, it puts the seller in big trouble. The seller will have to choose on which market place he will honor the agreement and which market place (s) will have to inform the buyer that the buyer will not be able to perform. In the case of a sale on the Afternic Fast Transfer network, the decision is made for the person since the domain name is automatically deleted from the seller’s registrar account.
When I receive an offer for a domain name, whether by email, through the offer form Embrace.com, or through Dan.com, it is important that I remove the BIN list from other sites as soon as possible . With an offer, I have time to delete the BIN listings before accepting a deal so I do not find myself in the pickle, that is to say several deals on the same domain name.
Once I see that I have an active negotiation, I log into my Afternic account and “hide” my domain name. When a domain name is in “hidden” status, it is not available for purchase on Afternic or its network. If the domain name is subsequently sold, I can delete it from my Afternic account. If I am unable to make an agreement to sell the domain name, it is displayed. By hiding a domain name, I don’t have to go through the sometimes manual process of releasing it on the Afternic network.
I guess other domain name marketplaces and sites have similar functionality, and I recommend using it. A potential buyer can research a domain name after submitting an offer, and if they see it listed for sale with a BIN price, they can simply buy the domain name. While it’s nice to have a sale, I might end up paying more commission on Afternic, for example, than on a deal where the buyer negotiated directly with me. Some people might even take the opportunity to reevaluate the BIN price when a buyer submits an offer and doesn’t see the BIN price on other platforms.
The “hidden” option at Afternic is a good way to quickly remove a sales ad. Sellers should be aware that the sale price may be archived in other locations, so raising the price could be overwhelming for a potential buyer.