TradeMe's domain names section has jumped up from just a couple of listings to around 20 over the last few days but despite all the listings I can see only 4 bids being made, with one of those at just $1.
So are buyers still on holiday or is there something wrong with TradeMe's domain names marketplace?
Well I think it's a problem with the marketplace and the market-players.
Firstly, TradeMe only allow people with a New Zealand or Australian address to sign up. That seems logical for most of TradeMe's auctions, i.e. ones that require physical shipment of goods. But domain names are more of an intellectual property and although kiwi companies are likely to be more interested in .nz domains there are definitely many international players that are also interested. By allowing international companies to sign up I'm sure there would be more bids as New Zealand's internal market is so small.
Secondly, some of the sellers seem to have disillusions of grandeur. Come on, $5000 minimum bid for TheNZRugbyWorldCup.com? There are 18 characters in that name and it starts with the word "the" - surely it can't be worth more than $50 max. $15000 for blog.geek.nz? What a joke. Of course some NZ domains can sell for many thousands of dollars but they are the ones with a higher quality or established website behind.
The TradeMe domain listings are not all bad - there are plenty of them there with reasonable prices in the hundreds and the occasional high-quality domain does come along which could sell for well over a thousand dollars.
So why list domain names for sale on TradeMe considering there's a $19 listing fee whether or not they sell? The answer probably lies in the fact that there's a lack of reasonable alternatives; the few other NZ sites that list domain names for sale just don't have anywhere near the reach that TradeMe has and the big international domain name listing sites have high transfer fees for .nz domains and no easy way to see which .nz domains are on sale.
For now, that's just the state of the game in the .nz market.
Other related posts:
It's picture-perfect for art.co.nz
motel.co.nz : will it drop?
Names.co.nz - sleek new domains marketplace
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