Aftermarket Auctions open for business

[DavidL]

We are finally ready to roll out our regular domain aftermarket platform!

Auctions will run weekly every Tuesday (starting 5th October) for 7 days with a maximum of 50 domains in each auction.

We have a $5 listing fee, and charge an 8% sales commission.

If you elect to submit a reserve, we charge 4% of this reserve amount (capped at $200) but this fee is refunded if your domain sells.

So please feel free to jump on board now and list your domains. Please let us know any feedback you might have too.

Thanks

David

http://www.netfleet.com.au/aftermarket-auctions

 

[Nova]

Looks good

A couple of cosmetic issues - can you reduce the padding inside each listing - each listing is too tall IMO. Also, when you hover over each domain the alt text says "View .... bid history" but you can't click or view the history.

Nova

 

[DavidL]

Thanks Nova - I'll pass that onto Mark to get sorted.

Much appreciated.

EDIT: Fixed Now!

 

[DavidL]

Only 9 spots left for the first auction. Better be quick!

 

[Max]

We are finally ready to roll out our regular domain aftermarket platform!

Auctions will run weekly every Tuesday (starting 5th October) for 7 days with a maximum of 50 domains in each auction.

We have a $5 listing fee, and charge an 8% sales commission.

If you elect to submit a reserve, we charge 4% of this reserve amount (capped at $200) but this fee is refunded if your domain sells.

So please feel free to jump on board now and list your domains. Please let us know any feedback you might have too.

Thanks

David

http://www.netfleet.com.au/aftermarket-auctions

//If you elect to submit a reserve, we charge 4% of this reserve amount (capped at $200) but this fee is refunded if your domain sells.//

I dont get it .. please explain .. in detail

(capped at $200) but this fee is refunded if your domain sells

It reads like .. $200 up front (expensive names) ? to list if you have a reserve but you are going to refund the $200 if the domain sells ? what if in the unlikely event it doesn't sell ?

Confused ..

 

[Nova]

The way I read it all was:

- $5 listing fee, regardless
- 8% sale commission if it sells
- if you choose to have a reserve, they charge 4% of the reserve price as an additional fee (that is refunded if the domain sells) so if the domain doesn't sell, they still get 4% of the reserve price. If it sells, you only pay the 8% sales commission

I'm sure they'll clarify but thats how I read it.

 

[DavidL]

Thanks Nova - I think you explained it better than us!

By charging a fee based on reserve, we're hoping that people will enter realistic reserves (if any) and so a decent proportion of domains will sell. Nothing worse than domain auctions where 95% of the listings fail to meet reserves IMO.

What do you think? Will it work? Or do you think it's unreasonable to charge an upfront fee like this for domains with reserves?

 

[Drop.com.au]

Congratulations and best wishes for the new format David and Mark!

Cheers

Andrew

 

[Mark]

The way I read it all was:

- $5 listing fee, regardless
- 8% sale commission if it sells
- if you choose to have a reserve, they charge 4% of the reserve price as an additional fee (that is refunded if the domain sells) so if the domain doesn't sell, they still get 4% of the reserve price. If it sells, you only pay the 8% sales commission

I'm sure they'll clarify but thats how I read it.

Thanks Nova, as David said thats correct. It's important to also mention that as all starting bids in the auctions are $100, this amount is deducted from the reserve price fee calculation. So if you enter a reserve of $200, we will only charge a 4% fee on remaining $100. The $200 capped amount is the maximum you will pay for your reserve fee. So if 4% of the reserve price is more than $200, the reserve fee you pay gets capped at $200.

An example taken from the t&c's when you go through the wizard:

Example fees C
1. You list your domain name with a reserve price of $200
2. You are charged $5 listing fee
3. You are charged 4% of $100 (reserve price minus the default $100 starting bid), which is $4 (total fees therefore $9)
4. The domain sells for $1000
5. Commission is 8% of $1000 = $80.00 AUD, and your reserve fee is deducted from commission, leaving a final payable commission of $80.00 - $4 = $76.00 AUD

If you jump on the site and have a play around with figures in the Members Area it might help. All being said, we'll look to make this information more readable and clear throughout the site.

Thanks for feedback and the best wishes!

Cheers
Mark

 

[djuqa]

I was excited when first heard of the Auction, I was then utterly confused by the listing fee formula. Totally killed my desire to list anything at all. This was after I had already pulled a name that has attracted 5 offers over the last 48 hours on netfleet sale section so I could list it at auction.

Whoever thought up that confusing fee structure needs to take some marketing courses. If RealEstate or eBAY auctions where done that way, no-one would sell anything houses by auction at all. What is wrong with just a standard listing fee, then percentage when sale made.

 

[Rhythm]

I'm guessing to prevent pointless (ie he's gotta be dreamin') reserve prices.

 

[Mark]

Hi djuqa

We would love nothing more than to have a simple commission structure, involving listing fee and commission on sale price.

The simple fact of the matter is the key to auction success is sales. In order to achieve sales we need to find a way to deter people from entering astronomical reserve prices. From our perspective this also needs to be automated, and this is how the fee on reserve price came about.

I understand at first glace it may seem confusing. If you login to Netfleet, and enter a domain name with reserve price, the key on the right hand side tells you exactly what fee you would have to pay. If you're not prepared to pay that fee, then you should maintain your standard catalogue listing domain, at no cost.

Specifically regarding the domain you pulled - I can get it reinstated if you like?

Hope this helps?

Mark

PS - Rhythm - yup, exactly

 

[djuqa]

Hi djuqa

We would love nothing more than to have a simple commission structure, involving listing fee and commission on sale price.



Specifically regarding the domain you pulled - I can get it reinstated if you like?

Hope this helps?

Mark

No it is OK, I have decided to to defer selling it until there is an alternative to DROP or NETFLEET auctions.

 

[Honan]

Fantastic news
Thank you to www.netfleet.com.au
Looking forward to seeing the list of names up for auction, especially the $100 starting price names
I have an itchy clicking index finger already and at the risk of making other members jealous, I have $100 in the bank ready to spend on a bid

 

[DavidL]

Whoever thought up that confusing fee structure needs to take some marketing courses. If RealEstate or eBAY auctions where done that way, no-one would sell anything houses by auction at all

I know it can be confusing so I'd invite anyone to have a play inserting domains and various reserve prices and see what fee would be payable before you commit.

FWIW here are eBay's fees

Insertion fees

Final value fees


Starting or reserve price

Insertion fee
Closing price
Final value fee


AU$0.01 - AU$0.99

AU$0.30

Item not sold

No final value fee


AU$1.00 - AU$19.99

AU$0.50

AU$0.01 - AU$75.00

5.25% of the closing price


AU$20.00 - AU$49.99

AU$0.75

AU$75.01 - AU$1,000.00

5.25% of the initial AU$75.00
plus 2.75% of the remaining closing price (AU$75.01 to AU$1,000.00)


AU$50.00 - AU$99.99

AU$1.50

Over AU$1,000.01

5.25% of the initial AU$75.00
plus 2.75% of the initial
(AU$75.01 to AU$1,000.00)
plus 1.50% of the remaining closing price (AU$1,000.01 - closing)


AU$100.00 - AU$399.99

AU$2.50


AU$400.00 and up

AU$3.50


Cars AU$5,000 and below

AU$8.00

Cars AU$5,000.00 and below

AU$35.00 (fixed)


Cars AU$5,000.01 and up

AU$10.00

Cars AU$5,000.01 and up

AU$40.00 (fixed)


Motorcycles

AU$5.00 (fixed)

Motorcycles

AU$40.00 (fixed)


Other Vehicles

AU$8.00 (fixed)

Other Vehicles

AU$40.00 (fixed)


Classified Ads with Best Offer

Free for first 15 listings per month*

Fixed 14 day duration

Up to 12 free images included

Any more than 15 listings in one month −
AU$3.50 flat rate

Classified Ads with Best Offer

7.9% with a cap of AU$49.95


Other Classified Ads
(Services and Franchises)

AU$19.99

Fixed 28 day duration
Gallery, Subtitle, Listing Designer included

Other Classifieds Ads (Services and Franchises)

No final value fee


Real Estate Ads

AU$49.95 (fixed)

Real Estate Ads

No final value fee


Cars, Motorcycles, and Other Vehicles Classified Ads

AU$19.99

Fixed 28 day duration



To qualify for Classified Ads with Best Offer, members must be registered to ebay.com.au, must not be a PowerSeller, registered as a business or a Store subscriber. Listings must not fall within excluded categories.

Optional feature fees
Sellers can also choose from a range of optional features to help increase bids and chances of selling success. Optional feature fees are charged at the time of listing and are non-refundable.

Reserve fees
Listing upgrade fees
eBay Picture Services fees
Seller tool fees
Reserve fees (fully refunded if item sells)

Categories with reserves
Fee

Cars, Boats, Motorcycles, and Other Vehicles
AU$10.00


Listing upgrade fees

Feature
Fee
Feature
Fee

Valuepack
(Gallery, Subtitle and Listing Designer)
AU$0.99
Border
AU$2.49


Gallery

AU$0.59
(Free for BIN Store package listings)
Highlight

AU$3.00

Gallery Plus
AU$2.49

Gallery
Cars, Boats, Motorcycles, and Other Vehicles
Free
Featured Plus!
Except for the following categories:
AU$19.95


Electronics (CatID:293), Home Entertainment (CatID:172176) and Cameras (CatID:625)
AU$24.95

Cars, Bikes, Boats (CatID:9800)
AU$29.95

Computers (CatID:160)
AU$39.95

10-day listing
Free

Subtitle
AU$0.49
Featured Gallery
AU$14.95


Listing Designer**

AU$0.10

Home Page Featured

AU$49.95

Bold

AU$2.00

Quantity of 2 or more

AU$99.95

Scheduled Listings
AU$0.20
List in Two Categories***
x 2***

Buy It Now (BIN)
AU$0.10

Motors 14-day listing duration
Available for Motors BIN listings
AU$5.00
AdCommerce
Pay only when buyers click the ad for your listing


eBay Picture Services fees

Feature
Fee

First picture
Free

Each additional picture
AU$0.25
(Free with Store package)

Each additional picture
Cars, Boats, Motorcycles, and Other Vehicles
Free

Preview Picture
Free

Picture Show
AU$0.50

Picture Show
Cars, Boats, Motorcycles, and Other Vehicles
Free

Supersize Picture
AU$1.25

Picture Pack (up to 6 pictures)
AU$1.50

Picture Pack (7 to 12 pictures)
AU$2.00

Picture Pack
Cars, Boats, Motorcycles, and Other Vehicles

Free


Seller tool fees

Tool
Fee (per month)

TurboLister
Free

Selling Manager
Free

Selling Manager Pro
AU$9.95
(Free with Store package)

 

[TroyW]

Hello guys,

I've been pushing for this as you know but I also find the pricing format confusing. I'd much rather just see a set fee than a fee + a fee + a %. What extra work do you do for a domain worth a $1000 than you do for one that sells for $100?

I also agree with Mark - Ebay fees are a mess but there isn't really a competitor to ebay.

Also, after pushing for this service (even as late as last week) I would have appreciated a 'head's up'. I didn't see it until late last night on DNTrade then have logged on this morning and the soonest I can run a domain is 12th October. Dissappointing.

PropertySale.com.au & Commercialisation.com.au both on for the 12th October.

 

[djuqa]

Real Estate Ads

AU$49.95 (fixed)

Real Estate Ads

No final value fee

I know eBay in general is confusing, but Realestate ads on eBAy are FLAT rate. Why can't domains be Flat rate.
If Clowns list a Stupid Reserve then they suffer by NOT SELLING. Surely it is better to lose a clown's commission than to lose other domainers and investors who don't list at all.

 

[Mark]

Hello guys,

I've been pushing for this as you know but I also find the pricing format confusing. I'd much rather just see a set fee than a fee + a fee + a %. What extra work do you do for a domain worth a $1000 than you do for one that sells for $100?

I also agree with Mark - Ebay fees are a mess but there isn't really a competitor to ebay.

Also, after pushing for this service (even as late as last week) I would have appreciated a 'head's up'. I didn't see it until late last night on DNTrade then have logged on this morning and the soonest I can run a domain is 12th October. Dissappointing.

PropertySale.com.au & Commercialisation.com.au both on for the 12th October.

Hi Troy

We have to keep the fee structure and commission as it is for the time being for reasons mentioned in earlier posts.

Totally understand what you mean about it being a bit confusing - I am currently working on laying this out in a better format. Will post back with hopefully a more intuitive layout shortly...

Troy, we have had dozens of people really pushing for this service too. We thought the fairest way to let people know was via dntrade ahead of our newsletter, which went out a couple of hours later to all Netfleet members. The first auction is only on the 5th October in case you thought there were numerous auctions before? So you got in on the second auction.

As you have seen though, we'll be running every single week starting on 5th Oct, so plenty of opportunity to get your domains listed in upcoming auctions.

Thanks
Mark

 

[Mark]

Hi Guys

Fee structure now laid out in a more understandable format (I hope!):

http://www.netfleet.com.au/aftermarket-auctions

And there is more information including examples in the Members Area when you login

Thanks
Mark

 

[TroyW]

Thanks Mark, no offence but:

We have had dozens of people really pushing for this service too. We thought the fairest way to let people know was via dntrade ahead of our newsletter, which went out a couple of hours later to all Netfleet members.

No, the fairest way would have been to send out a dozen emails to the people suggesting/waiting for the service to give them first go.

The first auction is only on the 5th October

What is the current auction?

Also a suggestion, it would be good to be able to be able to add (and see) a brief on each domain such as how old, aged, does it have a website, PR, G Rank, etc.

In terms of the fees, the commission % structure acts against good domains - I imagine you do the same amount of work for a domain that sells for $100 as you do for a domain that sells for $100,000. Why $8 v's $8000? Doesn't seem fair for premium domains. I'd love to be wrong on this, please correct me if so.