Namejet Goes Live

So NameJet has launched a new secondary marketplace for domain names which will consolidate the exclusive inventory of deleting and expiring names from registrars Network Solutions / eNom and make them available for auction on Namejet.

This is a huge blow to Snapnames as it essentially moves the expiring domain train onto a different set of tracks.

The new service is going to allow its customers to create an account, manage backorders, and participate in auctions on recently available domain names.

As Jay Westerdal comments on his blog:  "you can be assured that they are actively talking to other registrars to join the program. Snapnames was the first and biggest Pending Delete auction marketplace, I think it will be a matter of time before NameJet takes that title."

Comments

[SailingToTazmania]

Namejet.com is up.

[David Wrixon]

Many of the most valuable names to drop went because Net Sol told IDNers to take a hike, when other registrars were only just getting going. Most of them were picked up for $7.

[Danno]

Hi,

This is now whats up at Enom:

http://www.enom.com/auctions/namejet_jump.asp

Peace!
Dan

[D]

Seems the Enom/Snapnames marriage which lasted only couple of month was actually Enom learnin from Snapnames how to do the busines properly..

[Steven]

As I said before, next time you guys have money to spend, let me know...I'll make sure you get a better ROI for your shareholders.

Repeat of post right after deal was announced on Frank's Blog...

It seems I am in the minority. I Think the purchase at the rumored $25 Mil or more level is outrageous. Here are the reasons why:

1: Snapnames is just an auction house. Buyers are not loyal to a the auction house, they are loyal to what is being auctioned. Look at the rise and fall of Pool as an example.

2. The available drop list pool gets thinner and thinner daily. Frank, as you have mentioned, in 5 years from now, there will be NO drops so part of their business will evaporate.

***FS*** Different stuff will get auctioned .. see next post.

You mention an area of growth:

Then how about if they ran that auction with 4 lanes in a Las Vegas hotel and did the auction/show to coincide with Winter CES when everyone in technology attends? Think about what Christies, Barret-Jackson, and Sothebys have done with auctions over the years. Then think about how important great domain names are (are going to be in future).

3. They still need willing sellers to let names go at a price other domainers will pay. How many end users are buying names at Moniker Auction's now? How many people "get" the power of a good name of Madison Ave?

4.Someone mentioned they could expand the auction days so they could receive increased parking revenue. Why would the registars agree to that? The Registers know it's their gold and can dictate the terms.
If I was Enom, Register, Netsol or any other company, I understand the amount of revenue the names generate regardless of the number of days. The registers have choices, Snapnames needs them, they do not NEED snapnames. There are other options available.

I think Snapnames is a well run, easy to use auction house. I guess it all comes down to the price they paid for it. If they got it at the right price, good job as it has potential to grow and have some synergies with your other Oversee offerings.

Just my 2 cents