DailyDomainDrop.com announced a new “pre-drop” service, which starts on June 16th for domainers who have domains that are planning on not renewing.
Basically you submit the domains your are intending not to renew to DailyDomainDrop.com and they will select the best of these and send it out to their members.
The members pay $50 for each of the domains they want, directly to the domainer who owns the domain, and the selling domainer then pays DailyDomainDrop.com $10 for each domain, on the honor system.
Sounds like it could be a win-win situation where the dropping domainer winds up with $40 and the new registrant gets the domain for $50. It is unclear who pay’s the renewal fee but I guess that would be the new owner.
So for the new owner it is still cheaper than snapname or namejet and avoids a possible costly auction.
It will be interesting to see what the results are.
Here is the full press release:
In today’s economy, domainers might find it to be a difficult task when trying to decide which names to carry for another year and which to release back to the registry. As such, we are pleased to announce the launch of our pre drop member network. Our goal is to provide our members wanting to cash in those domain names they are going to otherwise let expire anyway a viable alternative. The process is simple, and here is how it works.
If you have domains in your portfolio that you are not renewing, simply email your list to us. We will review the daily submissions and select those names we believe may be of interest to other DailyDomainDrop.com subscribers.
Beginning on Monday, June 16th we will disseminate, exclusively to our Premium and Standard Members, a daily list of pre-drop names. Each domain name on this list will be available for sale at the fixed price of $50. The listing will include the current registrar of record and expiration date. Simply inform us via email your interest in any of the names, and we will forward your request to the owner so he/she can contact you directly. Should a transaction take place, it is the seller’s responsibility to make a $10 honor payment to DailyDomainDrop.com.
Nathan says
This service sounds like a great idea, I’m sure I’m not the only one who went on a buying frenzy in my first year of the business. As I focus more on development I have let dozens of names drop in past 3 months could have probably sold at $50 given the right exposure – I just wasn’t willing to put the time into promoting them on ebay to cut through the clutter and make a few bucks.
Steve M says
Sounds like a good idea on its face…
… yet, what will happen when a seller gets two (or more; maybe many more) who want it for the $50?
1st come, 1st served? Highest $50+ offer takes?
Would be hard for most to accept only $50 with offers of $100 … $250 … maybe more sitting in your in box…
Who; if anyone; is going to “enforce” the $50 price?
Tony Lam, DMD says
Steve M,
Under those circumstances, it just gets treated like any other transaction between any buyer and seller of a domain. Highest offer that actually goes through with payment wins. It still relies on the honor system for the seller to pay the website $10.
Great idea. Definitely a niche underserved. Too bad there’s no way to enforce the $10 courtesy fee.
David @ DailyDomainDrop.com says
Steve M – Tony Lam, DMD is correct. Once we forward the email(s) to the seller, it is ultimately up to the buyer(s) and seller to complete the transaction. If it sells for more than $50, great news for the seller.
Tony Lam, DMD – You are right. There is no way to enforce the $10 honor payment, but the transactions will be taking place between all of our DailyDomainDrop.com members, and over the past 18 months of providing our service, we’ve found them to be nothing but honest individuals.
Happy Domaining to All!
Tim Davids says
great idea…this should be a winner…the honor part may get tricky but good exposure for the site at the least
Nathan says
David, great business model! – sounds very Seth Godin-inspired. I think the word of mouth your site will get from having an honor system will by far negate the rare occurences where someone doesn’t pay.
I will definitely check you guys out.
Damir says
Great NEWS – Thanks for the Info
Steve M says
Thanks Tony and David, but I would expect most if not all the buyers to be none-too-happy over a seller telling them they could not in fact have it for the $50 they thought they were buying it for due to there being multiple people who want it for that low price.
As your press release states: “Each domain name on this list will be available for sale at the FIXED price of $50.”
A price can’t be both fixed and variable.
Don’t take this wrong; I think it’s a great idea…I just think it’d be better and more accurate to word/run your program/approach as, “Each domain name on this list will be available for as little as $50.”
That way buyers; while still likely not thrilled that they can’t buy the name/s they wanted for $50 due there being multiple people who want it/them; would have to at least accept that such a possibility always existed.
David @ DailyDomainDrop.com says
Steve M,
Let me clarify, if I may. Each domain is for sale at a fixed price of $50. The price of each domain is not negotiable, nor is it subject to auction. We’ve set it up to be as simple as possible for all parties involved. The potential buyer emails us letting us know that they are interested in XYZ.com. We then forward that “lead” to the seller. If that sale falls through, as it is up to the buyer to let us know if it does, we then forward the seller the second email we receive inquiring into that particular domain, if any. By no means is this an auction. It is a fixed price sale that works on a first-come first-serve basis, where the names submitted are for sale for a flat price of $50. Now with that said, obviously the potential buyer, in theory, can contact the seller behind our back, as the whois info is public information. We do not encourage this, as it goes against the model. With that said, however, we are not too concerned about this happening, as I previously mentioned we’ve found our members to be honest individuals. We believe they will comply to this model, but in the off chance that they don’t, and we find out, we of course will take action and address the situation to both buyer and seller. Hope this clarifies the process. Thanks.