DomainTools Blog

We are pleased to announce the escrow for all domains sold at T.R.A.F.F.I.C New York 2008 were finalized last month. We are proud of the trust that both buyer and seller instilled in us to handle and transfer their assets in a timely and agreeable manner. By offering daily updates on status, we provided a clear and concise way for information to flow freely. We admit that we may have been over zealous in our efforts to keep everyone up to date, but we feel that it enhanced the openness of the flow of information for all involved.

For those wondering how the escrow process works, a few key points and features available at the customers Aftermarket.com Escrow control panel:
- Convenient ‘one stop’ access for all information related to sales and purchases via Aftermarket.com auctions.
- Friendly user interface providing information regarding: payment and transfer options, domain registrar information, lot transfer status and contact information.
- Complete sales information including: domain/lot name, sale price, disbursement/payment option are available to either buyer or seller.
- Personal follow up as needed to ensure any special requests from buyer or seller are handled.

Down Under Escrow Process

For the Aftermarket.com TRAFFIC Down Under auction, we are working with a local well known registrar, Domain Central. Domain Central, winner Australian 2007 Deloitte Tech Fast 50 award – ranked 2nd Fastest Internet Company in the Nation. A leading domain name registrar and web hosting provider, established in 2003, it entered the market as the first Australian registrar dedicated to delivering high quality domain name and web hosting services to customers at low prices.

Domain Central is assisting in the transferring of AU domains to ensure the AUDA policies are properly adhered. For full .AU policies, please visit the AUDA website . And to celebrate the first T.R.A.F.F.I.C. Down Under, Domain Central has kindly offered to wave the existing $125 Administrative fee for the domain ownership transfers.

The quick synopsis (3 STEPS) for selling and buying .AU domains:
1) Seller: Completes and signs Page 1 of the “Change of Registrant Application” as transferrer.
2) Buyer: Completes and signs Page 2 of the “Change of Registrant Application” as transferee.
3) Completed Application is FAX/POSTED to the registrar Domain Central.

Download the Change of Registrant Application from Domain Central.

Domain Central will hold the domain until funds are received and will then reset the license and transfer to the domain to the new registrant.

IMPORTANT: The buyer MUST meet existing .AU policy to hold the domain license. Specifically: Policy No: 2008-05: Domain Name Eligibility and Allocation Policy Rules for the Open 2LDs (2008-05) – Publication Date: 30/05/2008. The AUDA recently updated their domain monetization policy. If you are interested in purchasing a .AU domain, partnering with an existing entity with rights to holding a .AU license is definitely an good alternative or researching acquiring your own. There is great opportunity in the .AU space!

In addition, Australia has a Goods and Service Tax law that applies to the purchase and sale of domains names. If you are Australian resident or company that sells or purchases at the Aftermarket.com Auction or a purchasers of a .AU domain, 10% GST will be added to final sales price to comply with the law. I am not a tax lawyer nor do I play one on TV. If you are wondering if this applies to you, I suggest you seek tax advice.

Through out the escrow process for this or any Aftermarket.com auction, we understand more than most that all buyers and sellers have specific preferences that they prefer when acquiring or selling domains. We keep those preferences at the forefront of all of our action items during the escrow process. There will always be instances where the process flows more quickly for some domain transfers than others, but rest assured we will always go the extra mile to accommodate participants when able.

It is the participants that make the auctions a success and we will continue in our efforts as we move forward with additional live auctions.