GoDaddy Inc. (NYSE: GDDY), today announced the launch of List for Sale, a service that “enables anyone to quickly and easily list and sell unused domain names”. The tool is available for free to all GoDaddy customers who own a domain name, providing an opportunity to generate a profit on unused domains.
Once a GoDaddy customer clicks the List for Sale button in their Domain Control Center, they will be guided through a three-step process where they can list the sales price for the domain, create a “For Sale” landing page for the domain’s website, and then publish a listing for the domain on Afternic. GoDaddy provides an estimate pricing tool (a very bad one so don’t even look at it) to help users set a price for their listing.
“GoValue domain valuation tool” is a notoriously bad automated tool that is completely useless for accurately pricing a domain name.
List for Sale is supposed to simplify the previously cumbersome process of selling a domain name online and opens up a new opportunity for GoDaddy customers to make a profit on unused domain names; the average sale price for a domain name on Afternic is $2,000, and since the beta launch in January, the highest domain sold through the List for Sale tool is $57,500. New domain names entering Afternic also unlock a wider inventory for domain investors. As a result of the tool, hundreds of thousands of domain names have been introduced into the domain marketplace.
“Everyday entrepreneurs come to GoDaddy to find great domain names fitting for their business ventures, but sometimes domain names go unused and sit dormant in accounts,” said Paul Nicks, Vice President at GoDaddy. “List for Sale gives customers an easy and simple way to earn a profit by selling their domain name for a valuable sum.”
List for Sale is a free service for GoDaddy customers. Customers only pay sales commissions, ranging between 10-20%, to Afternic if the domain is sold.
What are the fees?
GoDaddy and Afternic do not charge a fee to list your domains for sale. You pay a sales commission only when you sell your domain.
- Sale price: $0 to $5000 — Commission fee: 20% ($15 minimum)
- Sale price: $5,001 to $25,000 — Commission fee: $1,000 plus 15% of amount over $5k
- Sale price: $25,000 and over — Commission fee: $4,000 plus 10% of amount over $25k
Finally, don’t expect to promptly receive the funds of your sold domain. I am waiting for funds of a domain I sold 16 days ago and I don’t expect to receive the funds for at least another week. So 3-4 weeks is now the norm for GoDaddy sales.