Last month, I wrote a post on how FreeMarket.com was an up-and-coming threat to Flippa and how it could potentially take a big market share. I may have spoken way too soon.
To say the least, there are some very questionable listings there.
Here are some examples:
In September, this website sold for $1,105. What is questionable is that the owner claimed to be making $3,000 per month net profit. Who in their right mind will sell a website making $3K for only $1K? Makes no sense at all.
I don’t know much about the Brazilian credit card market, but the bid seems a bit high for that ccTLD. The current bid is $149,005 with only two bids. What is questionable is that the BIN price is set to $151,500. So, you’re telling me that $2K will make or break this deal, after they’ve bid $149K?? That’s crazy talk. At that level of bidding, this auction should have been over by now, with one of the bidders bidding the $2K additional for the BIN. Something is definitely amiss here.
First of all, what is a “job strait”? I couldn’t find any definitions of strait that works with the word, job. It seems to be a made-up brandable domain. Next the domain does not make any money or have any traffic. What really makes this listing questionable is the current bid of $80K from only 3 bids. Also, the BIN is set at $95K. I’ve seen some bad domains sell for 4 figures, but this one would take the cake if it was legit.
If you visit FreeMarket.com, I’m sure you’ll be able to find some very questionable listings yourself. I use the word “questionable” because I have no solid proof that these listings are fraudulent. But if you’ve been in the domain business long enough, you would know that these are bogus auctions.
There’s also a discussion on NamePros Forum regarding the new domain marketplace: https://www.namepros.com/threads/new-marketplace-launched-freemarket-com.832602/
Most of the members in that thread have expressed their doubts as well.
With that said, I take it back. FreeMarket is nowhere near being a threat to Flippa at this point. Flippa may have higher fees than FreeMarket, but there are a couple of things that Flippa does better. One, Flippa is better at detecting fake/shill bidding. Two, Flippa attracts many more serious buyers and sellers.