I recently sold my domain Turntable.com and switched over to TurntableMedia.com. The final selling price was $45,000 USD. That’s a respectable amount of money and I’m really happy about that. It’s amazing to have a digital asset that can be liquidated so quickly and easily. However, I should point out a couple things:
- After auction fees of 10%, taxes, and bills, it actually doesn’t leave me with a lot of funny money
- I’m sure turntable.com could have fetched more if I had the time and energy to shop it around extensively
I loved the domain and I’m sad to see it go. I thought I’d have it for life. As corny as it sounds, I thought it would be something that my kids would “inherit”. It’s been my brand for over 12 years and it’s served me extremely well. Since moving to New Zealand I’ve continued to do work for US clients, partly to pay the bills and partly to keep my chops strong. That work has generally come through referrals and LinkedIn, rather than exposure through the Turntable site.
In the end, I decided to sell because Turntable was no longer my main focus. My main focus these days is Xero.
The selling process with Sedo was actually a bit disappointing. The mechanics of putting the domain up for auction was pretty simple and straight forward. But I expected for the 10% fee they charge, with a premium domain, they would have provided much better service. On their site they invite you to contact a broker if you think your domain is worth more than $10,000. Their broker took 4-5 days to email me back and responded with a useless, generic cut-and-paste FAQ template. Since they have such a high stake in the selling price, I would have hoped for some consultation on pricing strategies to get the best deal. Their lack of effort really made me wonder how much involvement they have with the buyers.
I knew that switching domains was going to cause some chaos around emails and logins. With 12 years of the same email, I had a lot of logins that suddenly needed to be switched. It was crucial to get that sorted quickly because many of those logins were on sites that have my credit card details saved. It was also quite a mission trying to remember all the Web 2.0 sites where I have a login registered with my email address. It really nailed home the need for much better online identity management.
I’m grateful that the new owner was willing to forward my emails. This was another pain with Sedo. They completely ignored my request to arrange email forwarding. I had to delay pushing the domain and then phone them up to make it happen. If I had already pushed the domain to the new owner I’m certain they would never have connected me with the buyer.
I definitely give Sedo credit for providing an active domain marketplace along with some relatively usable tools to manage your domains. The Great Domains site lives up to its name as the best place to buy and sell high quality domains. Just don’t expect to get any answers or support from them. I’m still unclear about the finer points of their auction process – ie, why do some auctions appear with the reserve price range, while other auctions publish an “expected price”, among many other questions.
It would be really useful to hear from other people who’ve had similar experiences with Sedo and managed to get some answers. Also, it would be great to get some tips on strategies for selling domains for future reference.