Flippa Review in 2015

[DomainVP]

I wanted to take some time and share my experience with Flippa in 2015 versus my experience with the service in 2013.

When I started using Flippa in 2013, my opinion of the service was very poor. There appeared to be rampant shill bidding and what seemed to be a lot of misrepresentation of products and services. I removed any names listed, and swore off using the service; which many of us did.

I wanted to give the service another shot, the get a better feel of the marketplace in 2015.

To start I chose a name I was willing to part with that was tech/IT related, as Tech/IT related names sell well on flippa; I chose MyHTML [dot] com. We went with the premium listing option, and included a custom logo on the auction; which I set with a $10k reserve and maximum time allowed for auctions.

Instead of just sitting back and hoping for the domain to sell, I started doing some end user research; first reaching out to businesses relevant to the domain, and then to specific Flippa buyers.

After a few days, one of those individuals that I reached out to decided to place a bid for the name; where he remained the high bidder at $5,502; I lowered the reserve to a dollar over and it was sold.

The entire customer service team was very helpful, especially Kevin; who made himself available to provide me with any answers and suggestions that I had about the current Flippa market.

I only noticed later that I had listed the very same domain on Flippa in 2013, with no promotion and no end user outreach. Listed as an auction, with a $1k start and no reserve; not a single bid.

The domain resale climate has improved since the nTLD launch uneasiness has died down, and Flippa is a different place in 2015.

So in the end, if you have a quality tech/it related domain; I recommend using Flippa as a marketplace where you will get a fair ROI for your domain if you are looking to liquidate.

One suggestion that I would like to make for Flippa is to have a marketplace education process that people go through before the list names at a premium pricing. This was suggested by a Flippa broker previously, however it seemed like more of a sales ploy on his behalf, rather than a helpful process to make the service a better place for customers.

I think that eventually Flippa will be a great marketplace for all names, however I don't think i'm ready to list names outside of the tech/it niche at premium pricing. Maybe my POV is just a reflection on domain value and the market in general, but I think it would be good for sellers to be aware of this before they make any lofty investment in their listings. This isn't a terrible thing, tech/it niche is great company to have a captive audience with; which they have done a great job doing.

Anyways, that's my 2015 experience of Flippa; very pleased and would use again in the future.

 

[Domaingel]

Instead of just sitting back and hoping for the domain to sell, I started doing some end user research; first reaching out to businesses relevant to the domain, and then to specific Flippa buyers.

After a few days, one of those individuals that I reached out to decided to place a bid for the name; where he remained the high bidder at $5,502; I lowered the reserve to a dollar over and it was sold.

Based on your experience, do you feel that you could have sold the domain to the buyer without using the Flippa marketplace, since it sold due to your outreach efforts?

 

[Edward Smeu]

Flippa has a massive exposure to end-users, domain developers who don't have the time or simply do not want to search through forums, drops or other places. I consider it the best sales platform, it includes websites and apps and their support is amazing, especially on NamePros. Just compare it to Sedo or GoDaddy, Flippa is one step above! They also have brokers which would sell your domains if they are worthy enough and can do the dirty work for you, I sold several domains there myself, used the brokerage service as well and I am very satisfied. Will continue using it and I am willing to help anyone who might have questions I have answers to

 

[DomainVP]

Good question. It may have been possible, but the buyer was an active Flippa buyer and was heavy on the niche as I presented it; so listing it at the platform was a good idea.

There were a few other bidders, but the winner quickly set the bar at their price point; which I think was a fair price.

 

[FlippaDomains]

Thanks for the feedback, everyone -- and it's been a pleasure working with @DomainVP and @STP thus far (and anyone else reading who has communicated or crossed paths with us).

You guys are exemplary in the sense that you
a) price the domains TO SELL, at auction; and
b) are actively seeking buyers outside the marketplace, to bring ONTO the platform to participate.

While success is of course contingent on having a solid asset, realistic pricing and being ACTIVE [promoting inventory and auctions *off platform* -- to get more eyeballs and verified bidders involved in the process] is really where sellers see the most success.

Sidenote: the course for beginner buyers and sellers was suggested in good faith, and we were actually in talks with Namepros about partnering up in this endeavor. I still believe we have a massive opportunity to educate new buyers and sellers alike, but we're still configuring how to do this. [I'm thinking videos!]

With @DomainVP 's approval, maybe we can make this thread a pit-stop for feedback, good and bad -- about changes you've seen that you like, don't like, what more you need or want from a marketplace and etc.

 

[Domaingel]

Do you believe you would have received that same results if you listed on Flippa without paying for the premium listing promotion?

 

[DomainVP]

With @DomainVP 's approval, maybe we can make this thread a pit-stop for feedback, good and bad -- about changes you've seen that you like, don't like, what more you need or want from a marketplace and etc.

Not a problem, the more the merrier.

Do you believe you would have received that same results if you listed on Flippa without paying for the premium listing promotion?

I don't think so; I think the premium listing helped a great deal. Mainly because it increases the sense of urgency to buy. Bidders familiar with the platform know that notices are sent out to potential buyers for premium listing. I also added a logo, which always makes a name more attractive to buyers.

 

[N-A]

Do you believe that having a logo was the selling point for the end user that you reached out to? In other words, can you make an assumption based on your correspondence that the logo and/or pitch on Flippa had something to do with the sale?

I see a lot of emphasis placed on both the logo and pitch at Flippa as opposed to other marketplaces where a name sells itself.

 

[HeyNow]

Sounds to me like you sold the domain, not Flippa. Sounds to me like you could have kept all the money you spent for premium this and premium that + any commissions, if you had reached that same end user while not obligated to cut anyone else in on the deal.

IMHO, it sounds as though you did the work to sell the domain and Flippa made easy $ off of your efforts. Congratulations, you may already be a wiener.

That's just one logical viewpoint based on the facts. The truth is the truth, and it sounds to me like YOU found the buyer.

Now, in the future, when you find a buyer for one of your domains, will you cut me in for some $? Thanks, just would like that same deal.

 

[N-A]

IMHO, it sounds as though you did the work to sell the domain and Flippa made easy $ off of your efforts. Congratulations, you may already be a wiener.

Maybe the email tied to it with being on auction created a sense of urgency for the buyer, as opposed to the email alone.

 

[JB Lions]

With @DomainVP 's approval, maybe we can make this thread a pit-stop for feedback, good and bad -- about changes you've seen that you like, don't like, what more you need or want from a marketplace and etc.

Because I had VintageGaming.com on watch and people have posted this before, but you really extend the auction an hour each time a new bid comes in? That's insane if that's the case. That'll take this example past midnight. There is so sense of urgency when you do that, you don't get in that back and forth, competitive juices flowing. And some people might literally fall asleep.

It seems to be the case - https://flippa.com/auctions/3934773/bids

Last bid 44 minutes ago, almost 16 minutes left, 1 hour.

 

[VRDomainNames]

I am impressed with a lot of Flippa's features. I have thought about using them, but I am slightly concerned over the transaction process. I have read a lot of stories over the years about buyers taking domains and saying they didn't receive them, in order to avoid payment. There's also a large risk of chargebacks and whatnot. I have sold many domains with Sedo and have never once had a problem. They handle the receiving & delivering of payment and the domain transfer. When and If Flippa decides to provide this same service that Sedo provides, I would be happy to try them out. Having to rely on the buyer to acknowledge they received the domain just seems to risky. Maybe things have changed?

 

[discobull]

I wanted to take some time and share my experience with Flippa in 2015 versus my experience with the service in 2013.

When I started using Flippa in 2013, my opinion of the service was very poor. There appeared to be rampant shill bidding and what seemed to be a lot of misrepresentation of products and services. I removed any names listed, and swore off using the service; which many of us did.

I wanted to give the service another shot, the get a better feel of the marketplace in 2015.

To start I chose a name I was willing to part with that was tech/IT related, as Tech/IT related names sell well on flippa; I chose MyHTML [dot] com. We went with the premium listing option, and included a custom logo on the auction; which I set with a $10k reserve and maximum time allowed for auctions.

Instead of just sitting back and hoping for the domain to sell, I started doing some end user research; first reaching out to businesses relevant to the domain, and then to specific Flippa buyers.

After a few days, one of those individuals that I reached out to decided to place a bid for the name; where he remained the high bidder at $5,502; I lowered the reserve to a dollar over and it was sold.

The entire customer service team was very helpful, especially Kevin; who made himself available to provide me with any answers and suggestions that I had about the current Flippa market.

I only noticed later that I had listed the very same domain on Flippa in 2013, with no promotion and no end user outreach. Listed as an auction, with a $1k start and no reserve; not a single bid.

The domain resale climate has improved since the nTLD launch uneasiness has died down, and Flippa is a different place in 2015.

So in the end, if you have a quality tech/it related domain; I recommend using Flippa as a marketplace where you will get a fair ROI for your domain if you are looking to liquidate.

One suggestion that I would like to make for Flippa is to have a marketplace education process that people go through before the list names at a premium pricing. This was suggested by a Flippa broker previously, however it seemed like more of a sales ploy on his behalf, rather than a helpful process to make the service a better place for customers.

I think that eventually Flippa will be a great marketplace for all names, however I don't think i'm ready to list names outside of the tech/it niche at premium pricing. Maybe my POV is just a reflection on domain value and the market in general, but I think it would be good for sellers to be aware of this before they make any lofty investment in their listings. This isn't a terrible thing, tech/it niche is great company to have a captive audience with; which they have done a great job doing.

Anyways, that's my 2015 experience of Flippa; very pleased and would use again in the future.

I'm glad to hear that things turned out well for you, but, as others have said, it's a bit disappointing to hear that the sale came about as a result of your own marketing. My impression was that the whole point of spending the $350 was to make the sale effort-free for the seller. I would have been much happier to hear that Flippa had done for you what you ended up doing yourself.

Based on my own experience, I agree that the auction format adds a sense of urgency. I used to send out mailings to end users that would point them to my ebay listings and I managed to sell numerous domains that way including a bunch for $x,xxx. The difference, of course, was that ebay listings had no upfront fee (ie 0 risk ) and their 10% commission was capped at $100 no matter how high the closing price. I felt it was worth it because, in addition to the urgency created by the auction format, Ebay is a known entity and my 100% positive rating on their feedback system eliminated any potential trust issues ( I always got paid upfront and never had a single complaint about that arrangement ). To me getting those benefits for a maximum outlay of $100 made sense even if I was doing the marketing legwork myself. OTOH, I'm not sure I could justify risking $359 plus giving away an additional 10% of the total sale if I still have to do my own selling.

Sorry, but I remain unconvinced...

 

[Vinod R]

I agree with @discobull , When we list a name for a premium that platform in this case Flippa, should be having the exposure to market the name. Since we pay them for that. I see what you have written as just a promotion of Flippas premium listings. You could have replicated the same model on any marketplace like sedo/afternic/ ebay etc. Your experience really showed that you have bought the buyer to the auction. If your buyer came in and other users were able to make up with the bid then, Flippa would have helped you more, while that is not the case.

 

[N-A]

I agree with @discobull , When we list a name for a premium that platform in this case Flippa, should be having the exposure to market the name. Since we pay them for that. I see what you have written as just a promotion of Flippas premium listings. You could have replicated the same model on any marketplace like sedo/afternic/ ebay etc. Your experience really showed that you have bought the buyer to the auction. If your buyer came in and other users were able to make up with the bid then, Flippa would have helped you more, while that is not the case.

I believe they do market your name elsewhere. I see 468x60 ads and they have premium names in a marquee over a lot of industry blogs (some look handpicked as they aren't premium).

 

[HeyNow]

it's been a pleasure working with @DomainVP.

Yeah, no kidding, especially since it appears to me that DomainVP probably found a buyer by himself/herself, and you guys got a cut of the $ anyway. That's like milking the cow through the fence! Haha!

 

[Edward Smeu]

I have to add something here as @David Walker said, when someone upgrades for $350 it gets a lot more exposure, see the ads on NameBio or DNPric.es or Domaining.com etc. It is also featured on the newsletter and tweeted. That is enough in most cases to make a sale but not enough for getting the best price(IMO). Don't be lazy and do your work too, you never know where you will find the winner of your auction.

Most domains are sold on Flippa with no effort from the seller other than creating the auction, upgrading and writing a damn good sales pitch (which btw you cannot do somewhere else). People will bid on your name but it is your job as a seller to create bidding wars and maximize the value you should be getting instead of sitting back and observing.

Myself, I always search and find buyers outside Flippa just to have them bidding against the buyers which are already there (and there are a lot). It's a win-win-win situation and it is worth doing it, at least for me. And Kevin always stated that he will help new sellers, just read his interviews.

Flippa is the best way to have your name sold within one month and no one else can beat them at that. Of course, ultra-premiums mostly sell themselves no matter the platform but on the other side, if the domain is really bad no upgrade or marketing will make the sale.

Every domain seller has his tendencies and strategies as well as favorite sales platforms. For me, Flippa is number one as I had the best results there.

 

[S-B]

Sounds to me like you sold the domain, not Flippa. Sounds to me like you could have kept all the money you spent for premium this and premium that + any commissions, if you had reached that same end user while not obligated to cut anyone else in on the deal.

IMHO, it sounds as though you did the work to sell the domain and Flippa made easy $ off of your efforts. Congratulations, you may already be a wiener.

That's just one logical viewpoint based on the facts. The truth is the truth, and it sounds to me like YOU found the buyer.

Now, in the future, when you find a buyer for one of your domains, will you cut me in for some $? Thanks, just would like that same deal.

If you don't want to do the legwork, submit your domains here. This eliminates all the issues you have with the platform for a mere 5% more. If you think 15% is a lot of money to lose on a sale, compare it to other platforms. It is a competitive rate considering the amount of work that goes into these auctions.

I'm glad to hear that things turned out well for you, but, as others have said, it's a bit disappointing to hear that the sale came about as a result of your own marketing. My impression was that the whole point of spending the $350 was to make the sale effort-free for the seller. I would have been much happier to hear that Flippa had done for you what you ended up doing yourself.

Based on my own experience, I agree that the auction format adds a sense of urgency. I used to send out mailings to end users that would point them to my ebay listings and I managed to sell numerous domains that way including a bunch for $x,xxx. The difference, of course, was that ebay listings had no upfront fee (ie 0 risk ) and their 10% commission was capped at $100 no matter how high the closing price. I felt it was worth it because, in addition to the urgency created by the auction format, Ebay is a known entity and my 100% positive rating on their feedback system eliminated any potential trust issues ( I always got paid upfront and never had a single complaint about that arrangement ). To me getting those benefits for a maximum outlay of $100 made sense even if I was doing the marketing legwork myself. OTOH, I'm not sure I could justify risking $359 plus giving away an additional 10% of the total sale if I still have to do my own selling.

Sorry, but I remain unconvinced...

In my honest opinion, I wouldn't call an upgrade a risk. It's an investment in order to see a return. If your domain isn't worth the investment, it may not be worth the time you have to invest doing enduser outreach. You have to factor in the value of your time. What's the minimum you would need to get paid to justify working?

I agree with @discobull , When we list a name for a premium that platform in this case Flippa, should be having the exposure to market the name. Since we pay them for that. I see what you have written as just a promotion of Flippas premium listings. You could have replicated the same model on any marketplace like sedo/afternic/ ebay etc. Your experience really showed that you have bought the buyer to the auction. If your buyer came in and other users were able to make up with the bid then, Flippa would have helped you more, while that is not the case.

Again, Flippa brokerage takes care of that. See the above link.

 

[discobull]

In my honest opinion, I wouldn't call an upgrade a risk.

I guess I'm a bit surprised to be reading this from you. Please correct me if I'm under a misimpression, but your recent listing that had that prison story is in my mind a perfect illustration of the fact that upgrades are a risk. As I recall, that auction had $2500 in bids based on just the $9 listing fee. You subsequently went on to upgrade your listing and 4 weeks later the auction closed at $2652. If you're investing $350 to make $152, doesn't that suggest that you lost on your investment?

 

[S-B]

I guess I'm a bit surprised to be reading this from you. Please correct me if I'm under a misimpression, but your recent listing that had that prison story is in my mind a perfect illustration of the fact that upgrades are a risk. As I recall, that auction had $2500 in bids based on just the $9 listing fee. You subsequently went on to upgrade your listing and 4 weeks later the auction closed at $2652. If you're investing $350 to make $152, doesn't that suggest that you lost on your investment?

Your statement is actually incorrect. PriceMatchers.com was a premium listing ($249) from day 1. I would say doubling my money without any outbound is pretty solid.

Edit: @discobull was correct.

 

[DomainVP]

Do you believe that having a logo was the selling point for the end user that you reached out to? In other words, can you make an assumption based on your correspondence that the logo and/or pitch on Flippa had something to do with the sale?

I don't think that the logo was a huge influence. It was nice window dressing that I believe does effect buyers subconsciously in subtile ways, but the logo was of no interest to the buyer nor was it a point of discussion.

To me writing a good pitch is beneficial to the sale. I had sold another name on the platform in 2013 for $2500 that I believe was completely sold by the pitch written in the description. I won the name in a pricey auction which did not leave much room for profit when I sold it.

With this MyHTML sale, the buyer was a pro and I don't think all of the dressing would have mattered.

The comments sections carries a lot of weight with engaging the watchers of a sale. Emails are sent to watchers when a comment is placed on an auction, and when I would post a comment I would notice that the view count would increase by 25 - 40 views shortly after. Engaging your watchers with new and relevant information pertaining to the domain is also helpful.

Sounds to me like you sold the domain, not Flippa. Sounds to me like you could have kept all the money you spent for premium this and premium that + any commissions, if you had reached that same end user while not obligated to cut anyone else in on the deal.

To be fair, I found the buyer via the Flippa platform and sent an auction notice to them. If it were not for the platform I would not have found the buyer, and it is entirely possible that the buyer would have not been interested in negotiating for it and prefers buying via Flippa.

I know that 55" flat screen TV's are on eBay for $1200, but I can go onto Craigslist and haggle someone into selling me one for $200. I like deals, and maybe buyer does as well. Or not, who knows.

But mainly, if I found a buyer via a platform I think it's only fair to give them their cut; I would not have found the buyer if not for the platform.

 

[discobull]

Your statement is actually incorrect. PriceMatchers.com was a premium listing ($249) from day 1. I would say doubling my money without any outbound is pretty solid.

I'm confused:

https://www.namepros.com/threads/flippa.849498/page-2

"Well, I launched a $9 listing a little over a day ago to test out the theory that you need to pay for upgrades.... It's already at $2,500. "

 

[S-B]

I'm confused:

https://www.namepros.com/threads/flippa.849498/page-2

"Well, I launched a $9 listing a little over a day ago to test out the theory that you need to pay for upgrades.... It's already at $2,500. "

Whoops. You're absolutely right. I mixed it up with another domain I sold. Good catch!

 

[discobull]

Whoops. You're absolutely right. I mixed it up with another domain I sold. Good catch!

No worries. What's the $249 option? I thought it was $350 for an upgrade.

 

[DomainVP]

I'm glad to hear that things turned out well for you, but, as others have said, it's a bit disappointing to hear that the sale came about as a result of your own marketing. My impression was that the whole point of spending the $350 was to make the sale effort-free for the seller. I would have been much happier to hear that Flippa had done for you what you ended up doing yourself.

There were other bidders in the auction and there were 40+ watchers on the listing, as well all know watchers can be quite different than actual bidders.

Keep in mind that I had a $10k reserve, and that the winner bid until they were at a comfortable price point, in order to discourage competition from bidding. I then set the auction reserve to $1 over because I was okay with the price point as well.

It would have been interesting to see where the auction would have gone if I started at $1 with no reserve, but since I paid a fair investment for the name I wasn't willing to take the risk.