When I first started working with Uniregistry, one of the first things I suggested is that we start sharing domain name sales data again. Why? It gives Uniregistry Brokerage a public pulse and lets others know that action is happening!
Uniregistry shared sales data prior at times, but the buyers would often get bombarded with offers to buy a bunch of domain names unrelated to the one that was reported; other brokerage services would hound the buyers for future business. That part was not good, so Uniregistry understandingly stopped sharing this type of sales data.
In 2020, it is much harder to contact domain name owners and I also think that sharing domain name sales data outweighs the bad sides of it. The domain industry is fairly small and it needs to continue to grow. Putting a bigger pulse on the domain industry is one way that can be achieved.
The downsides of sharing sales data?
Certainly, there are downsides for companies sharing sales data, so let’s not ignore that. As mentioned, people will chase customers. Trends can be spotted, which can remove competitive advantages. Chest pumping can be reduced and egos can get damaged due to sales performance (Uniregistry has long been the leader to note with the highest median average sales prices). Lastly, upset customers from sharing sales information when they may not have been aware it could be shared publicly. Upsetting a customer is not a great way of doing business, so managing the data and the process of the customer knowing the sales data can be shared is important and an added process that needs to be managed.
The upsides of sharing domain name sales data?
The comps are the biggest reason. Although no two domain names are exactly alike, domain names can still be compared because there are similar groups/categories of domain names that often relate. Each one then needs a determination of which of those compared domains is better, equal or of less value. Comps can help someone at least get in the ballpark and the more that are available, the better the data works. Comps help all parties involved, including the brokers, buyers, and sellers.
Buyers often think that nobody pays aftermarket prices on domain names and they are the only one interested in buying the domain. Since many aftermarket services and domain name brokerage companies do not publicly share sales data, I can see where these buyers can make a statement like that. The situation is FAR from the truth because Uniregistry Brokerage alone is selling millions of dollars of domain names every month, as reported here.
Domain name sales data is exciting! It makes me happy to see what domain names people/companies are buying. Companies should be proud to own the best domain name for there brand and when they do invest into the best domain, this should be celebrated as a good thing!
Everyone will look at, use, and consume domain name sales data differently but without it, we are all missing out.
Domain name sales data is a big upside in the sales process of domain names. It shows potential buyers that other companies are investing in their businesses by making very large and valuable domain name purchases. This is very helpful. Pulling the blinders back on this not only brings attention to domain names but also to other buyers so they do not feel alone in the decision.
Yes, companies very consistently spend five, six, and even seven (eight at times) for domain names for there companies. It does happen! Having reputable sources publicly sharing this data will be helpful to all parties involved.
Sharing the data is not enough!
Data needs to be shared in a format that highlights the details, like a news story/blog post type format but also stored and searchable in a centralized location with accuracy. This is something often overlooked and something I had done myself in the past.
A database needs to be publicly available to access and search the data. Currently, NameBio.com is the best source with a wide verity of domain name sales data sources and allows the data to be searched and compared by length, TLD, and other patterns and types. This is just as important as companies that share the data.
Leveraging brand power to display trusted domain name sales data is and will be important with any domain name sales data that is shared, so it becomes an official and trusted source of information.
Domain name sales data is very valuable information and helpful to everyone. I’m hopeful to see domain name sales shared more often by all parties involved big and small but also searchable from one place. GoDaddy recently announced that starting in October 2020 that they will be sharing a curated monthly top 20 domain sales list with prices, which is great news. I am also happy to report that Uni sales will also be included in GoDaddy's data.
The information contained in this blog is provided for informational purposes only and should not be construed as an endorsement, advice, or opinions from Uniregistry on any subject matter.