Playing with undeveloped.com

[omcgb]

I'm just starting to try out Undeveloped after the good reviews on here, how are you setting the BIN its refusing to allow me to set it to below 1000?

You may need to change the 'Default starting offer' amount:

Account settings > Portfolio > Default starting offer

 

[armistice]

You may need to change the 'Default starting offer' amount:

Account settings > Portfolio > Default starting offer

Thanks !

 

[Systreg]

Had an offer on Undeveloped today, it was £450 for drybar which has a £929 BIN price, I countered with £829, they bid £450 again and left this message:

Thanks for your offer but I only think it’s worth £450. I’ve no idea what I would use it for at this stage

I'm always making £450 offers on domains that I have no idea what I'd use it for

 

[JMI]

This is where domainers go wrong, when it's on DL for 50 bin next year you might regret it.

 

[Systreg]

@JMI, what do you suggest, that people sell for the first offer made? If someone makes an opening offer, of £450, compared to traditional lowball offers, chances are they're willing to go higher, not in this instance, but generallly they do. Had it got to around £650 I would have sold.

I had another offer on Undeveloped today, £50 for ukcarimports, it's has a £529 BIN price. I countered with £429, they increased to £100, I dropped it to £379, they increased to £110 with the message:

In not sure we'll make much from the domain. Would you consider trading it? I have beerxxxxx.co.uk or xxxxbet.co.uk

 

[JMI]

@JMI, what do you suggest, that people sell for the first offer made? If someone makes an opening offer, of £450, compared to traditional lowball offers, chances are they're willing to go higher, not in this instance, but generallly they do. Had it got to around £650 I would have sold.

I'm glad your sales strategy seems to work for you.

If you're a new domainer you can learn alot from this thread on how not to make money in domaining. When you read over and dissect the response carefully it demonstrates the true tragedy of the domain industry and why so many domains go unsold.

 

[Systreg]

Sundried.co.uk sold on Undeveloped last week for £2.4K BIN, chickenhut.co.uk sold today for £185

 

[boxerdog]

Sundried.co.uk sold on Undeveloped last week for £2.4K BIN, chickenhut.co.uk sold today for £185

Well done Kev, no regrets leaving Sedo then!

 

[Systreg]

I've left them listed on Sedo as well

 

[Nigel]

What is undeveloped's escrow service like? does it work same way as sedo and what does it cost? If someone chooses 'Buy it Now' do they have to immediately pay. Any info appreciated.

 

[Systreg]

Nigel, the seller/buyer guides are here:

https://undeveloped.com/help/seller-guide

The commission is 9% + VAT, but unlike Sedo, there's no minimum commission fee. I'd messaged them about that and they said no minimum fee at the moment, but it may be introduced in future.

If a domain is taken at BIN, when payment is received you get this message:

Payment received

We have received (buyer name) payment. Can you please inform us where the domain is currently registered and if you prefer a domain push or transfer?

I tell them the domain is held on my own Nominet registrar TAG and tell them what my tag is. I assumed by transfer that they meant transfer to them to hold in escrow, like it says on their sellers page:

Undeveloped takes care of the whole transaction process by providing a safe and secure Escrow service. As soon as you come to an agreement with a buyer, we send the buyer an invoice. We kindly ask you to provide us with the transfer code or push the domain to our escrow account as soon as we’ve received the funds. The next step is sending the authorization code to the buyer or pushing the domain from our escrow account into the account of the buyer. Finally, if the domain is successfully transferred we will transfer the payment to the account of the seller.

Instead, they give you the buyers email address like they do on Sedo, and send this message next:

Hi Kevin,

Thanks for your message. Can you please initiate a Nominet transfer to [email protected]? Please notify us in this chat once you initiated the transfer.

Let them know the transfer has been sent, and when the transfer is accepted, let them know the buyer has accepted it and that it's now under their control, they presumably check the Who-Is and/or ask the buyer to confirm that, then you get paid.

 

[Nigel]

Nigel, the seller/buyer guides are here:

https://undeveloped.com/help/seller-guide

The commission is 9% + VAT, but unlike Sedo, there's no minimum commission fee. I'd messaged them about that and they said no minimum fee at the moment, but it may be introduced in future.

If a domain is taken at BIN, when payment is received you get this message:



I tell them the domain is held on my own Nominet registrar TAG and tell them what my tag is. I assumed by transfer that they meant transfer to them to hold in escrow, like it says on their sellers page:



Instead, they give you the buyers email address like they do on Sedo, as they send this message next:



Lat them know the transfer has been sent, and when the transfer is accepted, let them know the buyer has accepted it and that it's now under their control, they presumably check the Who-Is and/or ask the buyer to confirm that, then you get paid.

That's very useful - thanks

 

[DomainManage]

Seems a bit steep - 9% +vat to sell a domain that you would have sold anyway.

 

[Systreg]

As I've said previously regarding Sedo on other threads, I have no problem paying 9% or 10%, as it means I can park my domains without having to make hundreds of individual parking pages, which I can't be arsed to do and havent done in 10 years, that's why I use parking services, otherwise, any visitor to any of my domains would find a non existant site, resulting in no sales.

Then there's the near enough guarantee of getting payment if a domain is purchased via a parking sites, it saves potentially getting screwed by a scammer who might take a domain transfer and tell PayPal they never got the domain, they get their money back and still have the domain, and all the hassle that would involve trying to get it back, so yeah, 9% or 10% is worth it to me.

 

[gimpydog]

I have no problem paying 9% or 10%

Agree with that. I recently had a 4k offer at Sedo, but...minus 10% for them, another 10% for domaintools, then 20% VAT on top, so about 3k net. I wouldn't mind so much if they chased the deals, but it's just a glorified classifieds site with very expensive escrow tacked on.

 

[hal]

Seems a bit steep - 9% +vat to sell a domain that you would have sold anyway.

Any plans to integrate some more payment options on DomainManage? For example Stripe and Escrow Pay. Escrow.com now support GBP.

 

[Sam]

Seems a bit steep - 9% +vat to sell a domain that you would have sold anyway.

No this catches lots of impulse purchases as they pay instantly just factor that into your pricing far better conversion rate than ping ponging with emails and with normal parking pages...

 

[Lovekraft]

Moved a load of domains over there yesterday. What is working best for you, setting BIN's or offers?

 

[fuzzer]

@DomainManage - put in an integrated instant pay escrow - charge ~1% commission - Bob’s your uncle!

 

[hal]

@DomainManage - put in an integrated instant pay escrow - charge ~1% commission - Bob’s your uncle!

There is no need to charge commission. DomainManage charge an annual fee for their services already.

There is also an alternative (Efty), but the only currency they currently support is USD. I hope they add GBP support soon.