There are bargains to be had buying domain names on eBay. I buy a few every week and bid on lots more. Here's a few tips for a successful domain buying experience on eBay.
1. Know the Value of What Are Buying
There are lots of resources on the internet to check the value of domains. If you are buying 3 character domains 3character.com provides a price guide each month. Another great source of historical price data is EBay itself. At EBay.com click on Buy tab. In the search box type in 'domain names' and click on the Search button. The brings up the following navigation:
Computers & Networking > Other Hardware & Services > Domain Names > .com
Click on the Domain Names link to get a list of all domain names. Now click on the Advanced Search link. Then next page click on the checkbox near the top that says "Completed Listings Only" and ensure that the 'In this Category' pick list reads 'Domain Names'. Now scroll to the bottom and click on the 'Search' button. You should now see a listing of recent selling items. The items in red are those which failed to sell and the green items are those which did sell.
2. Check Buyer Feedback
After each EBay transaction both the buyer and seller are invited to rate the performance of the other. This provides a valuable rating tool that allows you be comfortable that the seller will carry out their oblgations after you pay them for a domain. On the far right of each EBay listing is a section that says "Meet the Seller". To the right of the sellers name is a number in brackets - this indicates the number of unique feedbacks by other buyer or sellers. Below this is the percentage of positive feedbacks. Personally I look for unique feedbacks of at least 10 and percent positive feedback of 100% or at the least in the high 90's. You can click on the feedback number to see the individual comments of other EBay'ers who have bought or sold with your potential seller.
Of course you can never eliminate the risk that seller will not perform but knowing your seller you can signficantly limit the risk. I have done hundreds of purchases on EBay and my losses from non-perfoming sellers - less than a dollar.
3. Double check the domain extension
If you want a .com domain make sure that check that its what you are buying. A few times I've read through the domain description too quickly and ended up buying a .net domain or .info domain when I thought I was buying a .com domain. Ouch!
4. Check for handling charges
A few domain sellers charge a handling charge for transferring the domain to you. Read the EBay listing carefully to see if there is a handling charge. If there is a handling charge deduct this amount from the maximum that you are willing to pay for the domain.
5. Check the Registar
If you have a favourite registrar where you want all your domains to be located make sure that the domain is already at that registrar. Or if you are willing to accept a domain at a different registrar - ensure that registrar offers a free push. Among the registrars offering a free push of a domain to a new account are GoDaddy, Moniker, ENom, Fabulous, Dotster, DynaDot, DomainSite and NameCheap.com. If its a different registrar make a quick check of the web site to ensure that a free push is offered.
6. Check the Expiry Date
Once you buy a name you will be responsible for any renewals. Some sellers place names on EBay which are about to expire. You may still decide to buy but you need to be aware of the upcoming renewal fee. Best place to check both the registrar and the expiry date is a whois checker like Whois.sc or very often the registrar and expiry date are listed in the item description.
7. If it looks to be good to be true...
If you see an extremely valuable domain being offered for pennies on the dollar be cautious - fraud does happen on EBay - you don't want to be the next victim. A couple of things you can do. One is simply to forget the listing on the theory that it simply is too good to be true. Alternatively you could contact the owner of the domain using the whois information and confirm that the owner is for selling on EBay. Or you can is contact the seller via their EBay listing and ask if they will accept payment via Escrow.com - see suggestion below.
8. For large amounts
If you are not comfortable paying the anticipated price because of the potential for fraud an option is paying through Escrow.com. You will need to contact the seller to confirm that they will accept payment via Escrow.com and to discuss who will pay the escrow charges. Normally the escrow charges are either paid by the buyer or split between the buyer and seller. If the buyer won't accept escrow - move on to the next domain - there's lots of opportunities to buy.
9. Use sniping software
Sniping software is used on EBay to automatically place bids just a few seconds before an auction ends. The advantage of sniping software is that you avoid bidding early which would tend to drive up the price of the domain. By using sniping software you get to bid in the final seconds of the auction without having to be at your computer when the auction ends. The sniping software that I use is Auction Defender - available at AuctionDefender.com. A free trial version of the program is available. Cost of the program is $14.95 with a charge of $9.95 per year after the first year if you want to continue to receive support and upgrades.
10. Be selective on the auctions you bid on
While there are a few gems there are also a lot of junk domains listed on EBay. Domains that are poor names, the wrong extension or just overpriced. You will be a lot better off buying focusing on quality rather than attempting to every domain on the list.
These suggestions may seem complex but after a few days of reviewing EBay listings you'll be bidding like a pro.
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