A lot of domainers use Namejet as do I.? What I’m amazed at is the lack of common sense with how they use it.? Here’s my gripe…? when you search through the domains on Namejet it tells you what day and time you must order the domain by in order to be part of the auction process.? People go in Namejet and just start ordering domains left and right even though the end date is days or weeks away.? This is so obviously stupid to do I can’t understand why so many people are doing it and not learning from their actions.? If you are scratching your head right now trying to make sense of my comment then listen up…
What is the first thing people do when they search through the Namejet domains?? They sort the list by number of bids.? The most popular (i.e. highest quality) domains are then displayed all the way down to the domains with a single bidder on them.? And now people go to town backordering everything in site because instead of sorting through a list of 20,000 domains and having to find the valuable ones (we most people won’t do because let’s face it, most people are lazy) they don’t need to because you did the work for them.? This is why the top auctions have 200+ bidders on them.? Because you, by backordering the domain in advance have given exposure of this domain to the general public and now everyone is in that auction and it’s driving up the prices as a result.
So what should you (and everyone else) do?? You should search through the domains, keep a list in Excel or on a piece of paper, and 5 minutes before the order due date hits you should go and order the domain then.? Now, instead of there being 200+ people in the auction there may be 20 people who waited until the last minute to bid and now the auction size is smaller and ideally the ending price will be lower.
I admit, I made this mistake a few weeks ago.? I was searching the domain names by keyword and I found a domain I wanted.? The end date was a day away and I got lazy and just put my bid in then thinking that I was safe since it was just a day away.? Sure enough, by the time the end date hit the next day there were 3 other people (who I would bet my bottom dollar) searched by bid, saw the domain because I bid on it, and they bid on it too.? The domain ended up going for $500 (which is more than I wanted to pay) so I cost myself the domain by being a little lazy.? If I waited until 5 minutes before the end time I would have scooped it up for $69, but instead I had to compete against other people and the ending price finished about 7 times higher.? Good for Namejet, bad for me.
If you don’t think this strategy will work let me give you my results from tonight.? I found 5 domains that I wanted which had no bids on them.? I waited until 5 minutes before the end time and I added them to my cart and ordered them.? The end time passed.? I checked my backordered status, out of the 5, I was the sole bidder on 4 of them, and there was one other person (who was assuredly implementing the same strategy as me) who bid on the last domain.? So I’m getting 4 domains for $69 each (which at the least are worth mid $XXX to low $XXXX in my opinion) and the last domain I only need to compete now against one other person.
So if you find a domain you want, and there are no bidders on it, DO NOT bid on it until a few minutes before the end time.? You’ll save yourself money and the probability that you get the domain is significantly higher!