an important difference between Snapnames and Namejet

There are a number of important differences between Namejet and Snapnames, two popular domain drop-catching services. But there’s one difference in particular that you need to watch out for. It has to do with the auction process.

Namejet.com is, of course, the new domain name drop-catching service that has stolen a lot of business from Snapnames.com. Namejet now gets the domain names that expire on Network Solutions or eNom, while Snapnames picks up expiring domains from dozens of other registrars all over the world, large and small. When I want a domain name, I always back order it at both sites, as well as Pool.com, just to be safe.

When Namejet first debuted late last year, their interface was very buggy, but they seem to have worked out the glitches.

Another point on which Namejet lost to Snapnames was that on Namejet you could not see who you were bidding against when a domain went to auction. They have since corrected this problem and now, once you’ve back ordered a domain name, you can see a complete bid history showing each bidder’s handle, bid amount and time/date of bid.

Watch out when back ordering on Namejet, though. Their back order process works differently from Snapnames.

On Snapnames you can bid the maximum amount you’re willing to pay and the amount will not be displayed to other bidders. Snapnames will increase your bid incrementally as you are outbid, first by increments as small as $1, then increasing to $10 and eventually $20 as the bid increases.

I like this system, because I can look at abc.com and say to myself, “I’d pay as much as $5,000 for that, not a penny more.” So I put in my bid at $5,000, even if it’s still only at $70, and I walk away. Once the auction starts Snapnames will walk up the bid for me incrementally. If I end up getting the domain for $1,000, great. If it costs me $4,500, ok, I was prepared for that. If I get outbid and it goes to someone else for $5,100, well, that sucks but I said in advance that I wasn’t prepared to pay that much, so my absence has enforced a sort of unconscious discipline on my bid.

Namejet does not do this. If there are five current back orders at $69 each, and you order the domain for $5,000, the bid is immediately increased to $5,000 and that is visible to everyone. If you win the auction you will pay $5,000, even if none of the other bidders go above $69. That’s awful. Maybe the other bidders would not have paid more than $1,000, so that’s a wasted $4,000 you did not have to spend.

What that means it that if I really want the domain name I must be present when the auction starts, and I have to sit there, manually increasing my bid by $10 at a time or whatever, until the auction ends.

I don’t care for that system and I have asked Namejet to change it. I will continue to place back orders on Namejet because of the quality of the domains dropping there, but I am careful with my back orders.



6 Comments to “Snapnames and Namejet: an Important Difference in the Bidding Process”

  1. ASN5 | March 8th, 2008 at 6:16 am

    Hello there…

    I tried to use your contact form, but got a referer error or something… Anyway, sorry I didn’t hit you up first, but I just put up a site (BuyMyDomainNamePortfolio.com) on Feb 29th, and the individual domain names are selling faster than I expected, so I bumped the portfolio discount and have been answering a lot of email.

    Okay, well I wanted to let you know about the portfolio sale I’m conducting, since you seem interested in the same type of domain name I am. I’ve hacked prices at least in half on every domain name. And as I said, I’m actually selling the domain names individually too, but I’m discounting the entire portfolio on an ongoing basis.

    Obviously, there will be some point where the discounts on the portfolio price will meet someone’s expectations and the entire portfolio will sell; but until then, what’s available is available.

    Take care,

    Anthony

  2. Candomainer | March 8th, 2008 at 6:20 am

    Namejet tricked me into that as well. $500+ I was prepared to pay, I did. ouch. I can imagine they have made millions with this dirty trick. Read the fine print I guess, preying on an ingrained habit is low. Been to thousands of auctions, almost all are proxy.

    Cheers!

  3. Damir | March 8th, 2008 at 7:55 am

    Great post there.

    Many Thanks

  4. Snapnames and Namejet: an Important Difference in the Bidding Process | DomainBusiness | March 8th, 2008 at 11:11 pm

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  5. 2w | March 9th, 2008 at 12:28 am

    hi greeting ThANKing ,

    have any 1 any result in attemptin
    to sell her/his property
    @ SnapNames ??

    cheers ThANKye , 2w

  6. marc | October 5th, 2009 at 8:20 am

    Thanks for the info, I’m glad I read this before backordering my original own domain back again.

    My host company (Bottomline) went bust and I wasn’t informed, I found out only after I was told my site was down. Somehow it was transfered to Enom and somehow it ended up as an RGP. It seems now that the only way to get my own domain back again is to bid for it on Namejet, which, in my opinion is a complete rip-off. They should simply go into a universal pool of sorts. That way I could get my South African host to register it again for a mere R70 ($10) instead of the R532 ($69) or more Namejet want as exclusive sellers.

    To me this is just plain insider trading.

    M.

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