Good news for owners of premium brandables who are looking for boutique, enduser sale prices on their domains. BrandBucket, announced today that it’s reducing commissions for high end sales. According to Managing Director, Michael Krell:
“Over the last year we have received many requests from buyers for premium names over $50K, but haven’t had the inventory to fulfill this demand. In an effort to attract the best names to our marketplace, we will be reducing the commission rate for names priced above $50K. Effective immediately, our commission rate for names priced $50K-$99K will be 20% and names priced $100K and over will be 15%. This change will apply to both current and future names on the marketplace.”
Who’s buying premium brandables?
BrandBucket caters to small and medium sized businesses that don’t want the cost of a branding agency. The question is, do startups have pockets deep enough for premium domains? Several recent BrandBucket sales between $15k and $65k seem to indicate that they do.
In addition, Bill Sweetman, of Name Ninja, commented recently that his clients include “Fortune 500 companies only willing to spend a thousand dollars on a domain name, and one-person startups willing to spend six-figures.” So it seems that some startups do have the budget for high end names.
It should be noted that BrandBucket already has a few dozen $50k to $150k names on its platform but it’s now looking to expand those offerings to meet, what it calls, expanding demand.
What about every day domainers?
As most brandable domainers know BrandBucket’s bread and butter are non-premium, domain sales in the $2,000 to $3,000 range. The way it works is sellers create a free account and then submit names for review. The company accepts between 15% and 20% of those names for publication.
For years domainers have lamented their domain rejections but now BrandBucket has created a new system whereby you can submit names for review even if you don’t own them. That means you can get an acceptance and suggested listing price even before you bid on, or purchase, a domain. The cost for this preliminary “appraisal” and price valuation is $1 per domain but you get $10 worth of free credits when you sign up. The company also boasts a 72 hours or less review time. So you’ll get a timely reply to your submissions. In fact the entire process of submission, review, logo design and publication is often completed in 5 to 7 days.
Who is BrandBucket?
For those not familiar with BrandBucket….. the company was founded by Margot Bushnaq in 2007. This was right at the beginning of the 2008 recession and they had only $50,000 in sales their first year. However, Margot continued to persevere and her sustained efforts yielded a continuous stream of annual sales with 50% year-over-year growth. As a result sales grew to $1 million in 2013 and $2.4 million in 2015.
For more information visit the BrandBucket sellers page or send an email to firstname.lastname@example.org.
Disclaimer: I am a BrandBucket seller and their Brand Ambassador.