Unveils Bazaar: The Industry's First Wholesale Domain Auction Venue
Every domain seller wants to find that elusive end user who will
pay top dollar for their domain. However those kinds of sales
can be few and far between. Many professionals buy and sell
among each other at wholesale prices to help fill in the gaps
between larger paydays.
While there are a number of
auction sites geared to selling domains to retail buyers there
previously has not been a major one aimed squarely at the wholesale
market (there have been several that have attracted mostly
wholesale level bids but not on purpose!)
is seeking to remedy that situation with it's new Bazaar
site that opened on Monday, Dec. 1. No domains priced above
$600 are allowed on the Bazaar site, which features a
unique declining price auction format. For example if you
start an auction at $100 after the first 24 hours prices begin
declining each hour until someone meets the current price to
end the auction.
The seller can set a stop price that will also end the
auction when the stop is met. Proxy bidding is also allowed.
If a domain reaches the proxy price before someone else claims
it (or it hits the stop price) the proxy bidder wins the
domain. That way you won't have to continually revisit the
site to have a chance to win.
There are no sales commission fees. Sellers simply buy
credits (Bazaar Bucks) in advance, and listings cost as
little as 24 cents each when purchased in bulk (each new
seller gets 10 free Bazaar Bucks to start with). To
participate you also need to be a member of the main
Afternic Exchange ($9.95 per year). Full details on the
process can be found on the Bazaar site.
Afternic.com is one of the main retail domain sales venues
in the world. By leveraging the heavy traffic from their
popular main site with the new wholesale concept they hope to
quickly build a busy venue for bargain seekers and sellers
looking to quickly liquidate excess inventory.