OnlineDomain.com Domain Name News & Opinions
GoDaddy announced that is developing a new tool (probably called Daily Gems) to help people find bargains on GoDaddy domain auctions.
The (not yet available to the public) tool provides 3 lists: Most Active, Top Picks and Best Value.
The domain lists provided include the current auction price of each domain and a GoDaddy valuation. GoDaddy says that the valuation is based on an algorithm that utilizes the data GoDaddy has available to it to help identify predicted sale prices of domains.
Automated domain name valuation is notoriously inaccurate so people should be careful with it. That is also why GoDaddy has a lengthy disclaimer. (see below)
The announcement about the new tool came from Joe Styler that shared 3 test domain lists and said the following:
Hello Everyone. We have a new tool we are testing out that finds bargains on the GoDaddy Auction site. We wanted to share some of our finds below. As always do your own research before bidding on any names – see full disclaimer below.
The valuations included in this blog are based on an algorithm that utilizes the data GoDaddy has available to it to help identify predicted sale prices of domains. However, we do not make any guarantee or other promise as to any results that may be obtained from your purchase or sale of any domain, and this is not intended as a solicitation or offer to buy any particular domain. Any information presented and/or made available to you in this blog should not serve as the receipt of, or a substitute for, individual review of each domain name by you. It is your responsibility to independently assess and determine the value of any domain you may purchase or sell. We make no guarantee that you will realize any return on your purchase and subsequent sale of a domain name. We shall not be liable for any losses you or anyone else suffers as a result of relying on the valuations, which includes not being liable for any loss of profit, loss of bargain, loss of capital through over-payment or under-sale or for any indirect, special or consequential loss. The information may only be used exclusively within our network and not with any 3rd party provider.
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So either the tool will suck and people will mostly ignore it or it will be decent and then suddenly “bargains” become no longer bargains as dozens of people can easily find and bid on them (assuming the bargains aren’t closeouts), without any work on their part?
All domains listed have bids so it is not like theiy are undiscovered domains.
And all these “bargains” are listed on numerous blogs offering godaddy lists daily so it is not like they are some secret. All you can find all names with bids on gd with a simple search.
All this does is create some competition with the blogs stealing them some of their affiliate earnings.
Yes, the domains will already have bids. But there’s a big difference between 1-2 bids and a dozen of bids. This “Daily Gems” tool will increase the amount of bids to a lot of the bargains. The difference will easily be seen when the domain is sold. With 1-2 bids you have a chance to still get this domain at a bargain price. With a dozen of bids you will probably end up paying an end user price for the domain (should you be willing to pay that). I don’t see how that’s a good thing?
And yes, some of those bargains are listed on numerous blogs. I agree with you that this will result in some affiliate money lost. But a lot of times I manage to find bargains that aren’t listed on numerous blogs. So I don’t really need a new tool that will lower my chances to find a domain that someone else didn’t. Nor does any other domain investor needs that.
In the end it’s simple: More competition equals less chance to get/buy a bargain. And this “daily gem” tool is just that… more competition.
If it only lists domains with bids then it will help noone finding a domain. We’ll see.
Yes, the bargains will now be over marketed domains to the masses, and become to end user pricing.
First namejet taxes us 2.5%, and today this.
Maybe time to take the rest of the year off, and let everyone spend all their money.
Godaddy has to many weird bidders that sit there pushing the bid by $5 at a time, extending the clock, until you hit your limit, then bail, WTF
How is this a new tool? Its just a list of the names that have the most bids, any fool can find this. Its just gonna be another blog covered with daily domain lists. Domaining.com is going to become one big affiliate feed.
It has a godaddy valuation too.
Domaining.com is like that already! 🙂