Great Initial Results with BargainDomains.com

BargainDomains.com, a domain sales service by Domaining.com‘s Francois Carrillo looks to be delivering the goods in the crowded domain sales space. I had my first experience with the service only 24-hours ago and I’ve already sold one domain. Carrillo always has a new approach to his services and BargainDomains.com is no exception.

Bargain Domains

Unlike most services that let you list any domain you want, BargainDomains.com only allows you to list domains appraised for more than $250. After that you have to list your domain at a large discount off the appraised price. Sure – you might not agree with the appraisal algorithm’s price determination, in which case you don’t have to list your domain. For me I found that my domains that were accepted were at prices I was more than comfortable with.

Automated appraisal systems could be debated until the cows come home – I think we all agree that nothing these services provide should be taken as the exact factual value of the domain. I think that if you use multiple appraisal services (at least three) and then compare that with similar and recent domain sales then you can come-up with a reasonable expectation for what your domain is worth. This isn’t a service designed to get you top-dollar for your domain, BargainDomains.com is all about liquidity.

Right now I’ve only sold one of the fifty names I’ve listed however in less than 24-hours I’m happy with the initial results. I’ve made it no secret that I’m no domain sales expert – monetization has been my sweet-spot in this industry. This year I’ve decided to put some of my time into learning how to sell domains. I love learning and through talking to people at conferences as well as conversations with friends in the industry I’m doing my best to make domain sales a meaningful part of my business. I just loaded over 200 names into Sedo and will be doing the same with Afternic – I’ll be interested to see how the results vary between these three services.

Of course this is not the only way I’m promoting my domains for sale – I’m also doing the following:

  • Sending-out emails actively on my newsletter to over 1,000 subscribers
  • Emailing advertisers who actively spend money on keywords that exactly match my domains
  • Identify and email similar domain owners
  • Listing domains for sale in live auctions (have two names in TRAFFIC Dublin)
  • Listing domains for sale in other newsletters (sold Jerk.tv for $400 about a month ago in the Latonas newsletter)
  • Reaching-out to domain buyers I know with specific names I think will interest them
  • Listing my domains on other services like Sedo, Afternic, Snapnames, and a few more

For those who really know me, you know that I’m an all or nothing kind of guy. I’m not just going to sell a few domains – I want to grow my annual revenue by over 50% by adding this new segment onto my business. I am also looking to secure a few premium domains for brokerage through our premium brokerage service so if you have a great domain and you’d like to give us a shot, send me an email. I can’t make the same promises that the big brokerage houses can, and I don’t have a proven track-record. I do have two very motivated brokers and myself and we’re ready to start making it onto the DNJournal top ten list. I know it won’t happen overnight – it’s 2010 and I’m about 15 years behind, but I’m one persistent guy so something tells me I can pull this off 🙂

{ 20 comments… add one }

  • Poor Uncle September 6, 2010, 9:41 pm

    Good luck to your new venture. Very impressed with your all-in attitude.

    Reply
  • Leonard Britt September 6, 2010, 11:17 pm

    I recently reviewed sales over the last year versus sales in prior years. About 20% of domain sales in the last year have been due to listing with Godaddy Premium Listings which I had not used previously. I then looked at SEDO’s quarterly sales reports as a gauge of the domain market. SEDO reported ~ 23.1K domain sales in the first half of 2010 versus 18.7K domain sales in the first half of 2009 and 18.5K domain sales in the first half of 2008. So one could guess the demand for aftermarket domains has grown 20%+ versus 2008 despite the turmoil in the overall economy. But my domain sales in the last year are up far more versus 2008 than those two factors would indicate. So what happened? My domains are now priced more realistically than they were two to three years ago. Buyers ultimately dictate the price they are willing to pay so if your domains are not selling (& quality is not the issue), then you either need to increase your marketing efforts or adjust price. On the other hand I have not found email marketing to be an effective use of time.

    Reply
  • Francois September 7, 2010, 2:50 am

    Thanks for the unexpected but appreciated post.

    It’s funny because I also suggested to another blogger to try BargainDomains.com this week-end (Frank of DNN) and like you he immediately made a $900 sale at BIN.
    This let me an opportunity to inform your audience about an important point:
    If you don’t know this marketplace know the best deals are sold the first day they are listed at BIN and it’s normal!
    This is why is so important to upgrade your membership to get access to new listings the same day they are published and this way don’t let premium members allways buy the best deals.

    In a side note we should launch a new marketplace this week exclusively listing domains with revenue and traffic, … so stay tuned at Domaining.com for the anouncement.

    Reply
  • Uzoma September 7, 2010, 3:19 am

    I’m curious as to how the Jerk.tv transaction went. How long did it take from purchase to you receiving your $400? How would you rate the Latona’s experience. Thanks

    Reply
  • Digibroker September 7, 2010, 5:54 am

    Funny I own jerks.tv

    Reply
  • Jason September 7, 2010, 5:56 am

    Congrats on your sale. I also sold a few domains at Bargain last month. This past week I received an offer at Sedo, and then sold the domain three days later. The domains that sold were 2 .us and one .com.

    I wrote a few articles about my experience. I have also made sales through contacting companies that use the same exact service. I sold 10 to one company and 4 to another. Craig’s List worked on the first night back in March, but I haven’t produced any sales there since that time.

    Cold calling is a waste of time. I never had any luck with calling an end-user. E-mails, Bargain Domains, and Sedo are the best platforms to make a sale. The best strategy to make a sale is to build a rapport with past buyers.

    Good luck on your future sales.

    Reply
  • Movra Inc. September 7, 2010, 6:42 am

    Great products and services, but you really need to spell check or hire someone to go over your written material. Your websites (Even emails) just leaves a very unprofessional vibe, but thankfully your service / business concept outweighs the negatives.

    Reply
  • Chris Nielsen September 7, 2010, 10:04 am

    SEDO and AfterNIC did not work for me, so I am hoping Bargain Domains does. I just started listing some last week, but no interest so far.

    Reply
  • Chip Meade September 12, 2010, 8:12 am

    Did you pay for the membership that is required or were you allowed to list them for free? In exchange for a review in your blog? Just curious. Thanks.

    Reply
    • Morgan September 18, 2010, 12:55 pm

      @Chip – I paid for the membership just like everyone else. This was not a paid review – if the review is Sponsored I put “Sponsored Review” or “Sponsored Post” in the tags.

      Reply
  • Chip Meade September 13, 2010, 8:21 am

    Morgan, thank you for your feedback. Many of us are always on the lookout for sales platforms that perform. Can you please let us know if you paid for the service (currently required) or you were offered the service for free? In exchange for a review? Would you still be happy on your sale if you had to pay an additional $35 on top of the 8% commission? Might help with some perspective as well.

    Reply
  • Uzoma September 13, 2010, 2:30 pm

    Chip, good luck getting someone to actually respond to a question that matters.
    Morgan was one of the handful that I trusted in this thing, but I don’t know. Do you want me to believe that Morgan doesn’t find it fishy that he lists his Domain with Domaining, and voila, in a few minutes, IT’S SOLD! However, other lesser souls lists theirs there and it rots weeks after weeks, if it ever sells?

    Reply
    • Morgan September 13, 2010, 3:35 pm

      Thanks for the comment @Chip and @Ozoma.

      I’d like to let you both know that I did pay $35 to become a member of BargainDomains.com just like everyone else. I also happen to know the guy who bought my domains and he found them just browsing on BargainDomains. Listing more names there this week so I’ll keep you posted on if I can keep-up that success rate!

      Reply
  • Chip Meade September 13, 2010, 5:09 pm

    Thanks for the response Morgan. Just wanted to gain a little insight into the story and that helps.

    Reply
  • Poor Uncle September 13, 2010, 6:55 pm

    People seem quite cynical on blogs. I guess it’s like that everywhere.
    Maybe I’m naive..that’s why I’m a poor uncle 🙂 From the couple of months I’ve been following blogs…everytime an accusation has been made, it has been proven false. I am just thankful that there are blog like this that are willing to share tips and techniques on making money on line. I don’t question your motives or anyone else’s…as long as the information is useful. Otherwise, I go read another blog.

    Reply
  • Uzoma September 13, 2010, 7:32 pm

    Poor Uncle,
    Sometimes, it is not cynicism, rather thrashing out the facts; there’s quite a lot conflict of interest permeating this whole thing. Morgan mentioned that he sold a domain or two with Latona, and hinted that it was a good market place, meanwhile, it still appears that he is shopping around for a place to sell his domains; he didn’t make it clear if he continued listing with Latona or what. Somewhere up there, I asked him to clarify his experience with Latona with regards to the Jerk.TV transaction. So, my curiosity about his experience at Latona has a reason. As for Carrillo, I don’t think he is a plus for this industry. He is only looking out for his own pocket. The way he appraises domains, and entice people to list Domains with him where he makes no effort to get end users, or anybody outside the few gang members that he aggregates blogs for, causes an artificial glut and price reduction. He needs to get buyers before he lists all these domains at a nickel a piece. He has no respect for the domainer because he is running a little monopoly of his own. He will not hire someone he writes proper English, that way the image of the industry is appraised… and so on. He hoards everything, he is the alpha and the omega of domain data, and it is not healthy.

    Reply
  • Uzoma September 13, 2010, 7:35 pm

    Oh I forgot to mention:
    Carrillo forces everyone to display his Logo on their websites, it’s almost like the mark of Satan on these websites. He tried it with me, and I REFUSED, therefore, he is not letting my things get published or noticed, oh well, tough!

    Reply
  • Jason September 13, 2010, 7:55 pm

    I don’t think some domainers realize is that people provide information at a cost. When a newcomer learns about the industry, they’re tips are not taken seriuosly. I have managed to do well because I’m not afraid to make a sale.

    I’m practically doing exactly what your Domain Flipping book suggests. I have never read your book, but I did find an old article you prepared at Helium.

    @Poor Uncle,

    Ive been following blogs for the past year. At first people are nice, and then they change once you start to understand the industry. I save all the comments made in my email box. I’m selling the same domains people say is impossible to move. In order to br successful, you have to develop your own strategy.

    The main reason I challenged the donation mention is because these domainers already make a fortune. It’s like donating money to Hollywood movie stars. I have never made a sale without doing any work. Sedo has been a great platform. Bargain Domains is another good one too. You have to be patient because there are definitely some dry spells in trying to make a sale.

    I write about my domain experiences. I believe my blog is helpful, but I never made one cent with offering information. My revenue is generated through selling and parking. I never found one person that is willing to help me develop a blog. I have to confirm to a Word Press account until I learn to develop sites. I’m confident in buying and selling domains.

    You have to think like a business. When you buy names, have a buyer in mind. Elliot mentioned that in the past. You’ll find many blogs with a boatload of information. Are they helping to improve your sales and portfolio? I like to read about the domain greats, but I want to become successful too. I don’t want to sit back and hope to be successful.

    Many blogs start off good, but then they start to be selective on what posts they want to share and which ones yo trash. There are a number of blogs that provide domain news, but it has very little to do with helping you become successful. Fine one domain you have that you want to sell.

    Look up the stats, and learn everything about the industry. When a company challenges you about why they need the domain, you can respond back with stats and information regarding their website traffic and the value in having a strong keyword domain.

    Reply
  • Jason September 13, 2010, 8:15 pm

    Francois is a good guy. He takes the time to answer my emails and even helped me to improve my buying standards. He will always take the time yo respond.

     I’ve sent emails and commended the greats on their skills, but their egos seem to get in the way. They never respond. Francois cares about people beyond domaining.

     His platform is not about making a huge profit, it’s about helping people make a sale. It take a lot of work to make a sake. Sometimes I can close a deal quick, whereas other times it takes me q few weeks.

    It’s rare that domain bloggers will respond to your emails. Francois cares about whether other domainers are successful. I have proof to support that notion. 

    In order for company to be successful, we have to do well.  I disagree that Francois is looking out for his own interests. He has more than enough money.

    Essentially,  he wants every domainer to improve their technique. We’re selling domains to end-users. Every domainers that wants to be successful must think like a business. 

    Every domainer chooses which domains they want to list. The appraisal system is a tool, and not the means to determining the true value of a domain. I once questioned the appraisal value, but then I learned more about the stats.

    Francois cares about whether sellers and buyers are successful. If I had more money, I would but domains at Bargain Domains.

     I once wanted trainstations.org, but I could afford to make a bid on the domain. Without appraisal systems, there is no effective strategy to set a price. We all know that setting the wrong price will scare away nuyers.

    My skills are good enough to find valuable domains without having to pay top dollars. I’m confident I have a strong portfolio. I used tips Francois offered me. In no way is he tring yo take advantage of domainers. The domain industry needs more good people like Francois.   

      

    Reply
  • Jason September 13, 2010, 8:19 pm

    Excuse random errors in my posts. I used an Iphone to type the message. Thanks.

    Reply

Leave a Comment