What are Aftermarket Auctions?
Domain names in our Aftermarket Auctions are listed for sale by our clients who have elected to sell their domain names in an auction format. This means, each domain name for sale has an end date when no more bids can be accepted. Come close of auction, the highest bidder wins if the reserve price (where set) has been met, the sale is confirmed, and the domain name subsequently transferred to the winning bidders name.
How do I bid in one of the Aftermarket Auctions?
Once you have found a domain name or auction you wish to participate in, you need to login to Netfleet and navigate to that auction. Follow the Join hyperlink next to each domain name, and you will be guided through a simple 1 minute set up. This is free, however is needed to capture your business details so in the event of successfully winning an auction for a domain name, the transfer in to the your name is conducted in a speedy manner. Once you have entered these details, you can bid on any Aftermarket Auction on Netfleet. Please note, the starting/minimum bid for all domain names in the Aftermarket Auctions in $10 AUD.
There are three types of bids in the Auctions, proxy/automatic bids, fixed bids and buy now. Proxy/automatic bidding (common in many online auctions such as eBay) means you enter the maximum you are prepared to pay for a domain name, and the system will automatically bid up on your behalf, only ever $1 more than the next highest offer. Fixed bids (where the reserve has not been met), will enter the exact bid amount as your bid.
What is the Buy Now button?
Sellers can elect to add a Buy Now option on their domain names. It is an option for buyers to buy the domain name immediately at the price shown on the button, closing the auction for that domain, fast tracking the domain sale. Clicking the Buy Now option is irreversible, and cannot be undone.
If a seller submits a proxy/automatic bid equal to, or above the Buy Now price, the auction will close for that domain domain name, and it will be marked as sold to the bidder for the Buy Now price listed.
What happens at the end of the auction?
How do I sell domain names in the Aftermarket Auctions?
Upon choosing to add domains to the Aftermarket Auction, you will guided through the process, promoting you for your bank details (to receive funds from a successful sale), your unique Aftermarket Auction URL (the unqiue web address where your domain names will be listed for sale on Netfleet), and your domain name(s) you wish to sell, the length of time your auction will run, and your reserve price (if any). Once added, you must confirm ownership and validate the email that get's sent to the address listed for that domain name in the Australian domain name registry. Once validated, you must then proceed to pay any fee's before the domain names appear in auction.
Check out a breakdown of the steps needed to list a domain name, in our Step by Step Guide to Listing Domain Names - Aftermarket Auctions.
How much does it cost upfront to sell in the Aftermarket Auctions?
If your domains is with Netfleet.com.au then listing domains in the Aftermarket Auctions is free, there are no upfront costs, even if you add a reserve!
If your domains are with another registrar then listing domains in the Aftermarket is still free Please note however, there is still a fee to set a reserve, which is a 4% fee of the reserve set (and will be refunded if the domain name sells), capped at a maximum of $100. For example, setting a reserve fee of $300 would amount to a total payable of $12 ($0 listing fee + $12 reserve fee (4% of $300)). Of course, with no reserve fee set (which we strongly encourage), you have nothing to pay.
What is the commission if my domain name sells?
We charge a small 8% commission of the final sale price. This is one of the lowest commissions in any domain name aftermarket. This commission also covers the end to end sales process, including Netfleet Assisted Sales.
What does the overall process look like?
The process for the buyer looks like this.
1) Find a domain you like, place a bid, win the auction.
2) Get email confirming your win.
3) Get an invoice (from Netfleet) for the winning bid amount, all costs included.
4) Pay your invoice.
5) Get an email asking you to agree to the terms of the Change of Registrant. Click the link in the email.
6) The domain will be placed in your account once the Change of Registrant has been processed (up to 48 hours if a transfer if included)
The process for a seller looks like this.
1) List your domain for sale in the auctions.
1b) You can transfer the domain to Netfleet at this time to avoid delays later.
2) If the registrant email address is new in our system we will email you to verify control of the email address.
3) If you set a reserve you will need to pay the invoice (4% fee on reserve).
4) With for the auction to end
5) You will get an email about the SOLD domains.
6) If the domain is NOT with Netfleet you will be asked for the Domain Password.
7) You will get an update when the BUYER has paid their invoice.
8) You will need to agree to the Terms and Conditions of the Change of Registrant. Optionally you will also need to agree to the terms for a Transfer (of Registrar) if the domain is not with Netfleet.
9) We will process the Change of Registrant (after the transfer if applicable)
10) We will issue you with a statement showing the sale amount, minus our commission (8%), minus the COR cost ($19.25), plus a refund of the reserve fee (if applicable). We will also issue you with an already paid invoice for the commission and COR cost.
11) Within 7 business day after the COR is processed we will make an EFT payment into your nominated bank account.