Selling Domain Names on eBay
The eBay marketplace has been thriving for decades as a place where users can sell or even auction off items at their desired price.
The site allows users to sell everything from cars to even domain names. Domain names are an interesting item that can be sold of eBay because it is digital rather than a physical object. So, because domain names aren’t items you normally think of when you think of eBay products, you may wonder why people bother to sell them on the site at all.
In this article, you will learn the benefits and risk of selling domain names on eBay:
Benefits of Selling on eBay
There are a ton of reasons why selling domains on eBay is the right choice for you. In this article I hope to help you understand some of the benefits of selling on eBay and why although there are some risks involved it has been proven to be worth it to me.
It is Cheaper Than GoDaddy
To begin, selling your domain names on eBay is actually cheaper than selling them on GoDaddy.com, one of the world’s leading domain name sellers.
On GoDaddy, you will have to pay a commission of 20 percent or a minimum of $15 if you auction off your domain for between $0 and $5,000. If you auction your domain for $5,001 to $25,000, you will have to give GoDaddy a commission fee of $1,000 plus 15 percent of the amount you sold over $5,000. Lastly, if you sell your domain for more than $25,000, you will have to give GoDaddy a commission fee of $4,000 plus 10 percent of the amount you sold over $25,000.
However, you will find that eBay will only ask for a 10 percent final value fee on your sale. This is the standard final value fee for all eBay sales, which means you get to keep more of your profit on your domain name sale. Additionally, the PayPal fee must be factored into the equation as well. This is normally 2.9% of the total price paid.
You can List for Free on eBay
Some sites such as Flippa charge a listing fee, which means that you’re already losing money before you even start trying to sell your domain name. This also means that you don’t know if you’ll make enough money on your sale to make the listing fee worth it.
Flippa.com claims to be the number one marketplace to buy and sell online businesses. However, this site charges a listing fee that ranges anywhere between $10 and $29 for domain names. On top of that, a successfully-sold listing will cost the seller a 12 to 15 percent commission for sales depending on how the money from the sell is being collected. The sold listing commission alone is already as much as eBay’s total combined with the PayPal transaction fee!
Luckily, eBay will not charge you a listing fee to put your items up for sale or up for auction, which can save you money and allow you to profit more from selling domains on eBay.
Wide Array of Users
When you are trying to auction or sell something, you want to make sure that it gets in front of as many eyes as possible so that more people become interested and put in a bid to purchase your items.
Domain names are no different, and eBay provides the platform for millions of users to view your domain names and bid on them in auction. There have been numerous times where I have put a domain name on eBay and had hundreds of views within the first day of listing it.
Other domain name sites have a number of users that pale in comparison to eBay. I realize that other websites are likely more targeted. However, GoDaddy boasts of its 14 million customers. This is one of the top domain name selling platforms in the world. Compare that to eBay where, as of 2018, there were 171 million active users on the platform!
Option to Auction
One of the best features on eBay is the auction feature. Instead of outright selling your domain name with a buy it now option, you can put it up for auction and allow people to duke it out to see who will pay top dollar for your domain name.
A great way to maximize the value of your domain name is to set a longer auction time on eBay. This means that more people will see it and have the chance to out-bid others who are also interested in your domain name.
Sell Quickly Without Losing Anything
Domain names expire. If you let your domain name expire, you’re losing the chance to capitalize on the money you could earn from it and getting absolutely nothing in return.
Therefore, instead of simply letting your domain name expire, you can quickly sell your domain names on eBay to make a quick profit or cut your loses and avoid the renewal fees. This is best because you will not only get to avoid worrying about keeping up with domain name renewal costs, but you can also make sure that you don’t lose any money that you’ve already put into the domain name during the initial registration.
Domain Names With a Reasonable Price Sell Well
Lastly, it has been proven time and time again that domain names that are listed on eBay at a reasonable price will always sell well. This is because, as the internet and ecommerce continue to boom, more and more people are looking for a domain name that will fit their budget and needs.
Domain names can be expensive, which means you can often sell them for a pretty penny. Business Insider says that most domain premium domain names cost between $5,000 and $20,000. That means that you could sell your domain name at a discounted price while still making great money.
The Risk of Selling on eBay
As always, anything done online can result in a sticky situation. That’s because the online world is filled with people who are looking to steal the information of others and cause general mayhem online. These criminals are often hard to find when something goes wrong because they take precaution and don’t leave much evidence of their crimes.
For instance, some have reported that they have run into scammers who make fraudulent charge back claims, and state that they have purchased the domain but did not ever receive it. This is a scammer who is trying to have the seller pay them back for an “item they didn’t receive,” although they did receive it. Often times they will file some sort of dispute with PayPal to get their funds back.
The good news is that there is a way to manage this risk. Be sure that you only sell your domains to verified accounts that have a history of purchases. Believe it or not, scammers will often make new accounts on eBay to purchase items and scam sellers. This is because they don’t want to leave a large digital footprint. By selling to individuals with verified PayPal accounts with a history of eBay purchases you are far less likely to be involved in a situation like this.
Also, the good thing about eBay is that is does have a help team that can assist you in case you run into any problems with customers or scammers. Their fraud protection measures have improved over the years as well.
As you can see, selling on eBay has far more benefits than risks. You will be introducing your domain name to potentially millions of users who are trying to find the perfect domain that will fit their budget and their needs at no upfront costs to you.
Domain names have been proven to sell rather well on the site, if they are listed properly, they do well in auctions where users can bid on the domain name. In the end, you will likely make more money on your domain name if you sell it through eBay than somewhere like Flippa from my experience.
The site is the best way to avoid unnecessary list prices, high commission fees, and stress and complications when you are looking to sell your domain name quickly.
To start selling or purchasing domains on eBay today, visit eBay.com and list or purchase your domains today!