Completing a transaction on Uniregistry Market

Source: Domainnamewire.com

It was fast and easy, but pay attention to fees to withdraw your funds.

I use a number of marketplaces to sell domain names. About a third of my portfolio is listed with landing pages on Uniregistry Market, formerly known as Domain Name Sales.

I self-broker my inquiries on Uniregistry. I also typically just start an Escrow.com transaction rather than use Uniregistry’s marketplace checkout.

On a recent sale, I decided to offer the Uniregistry checkout to the customer. After all, I imagine customers will get confused if suddenly they are sent to an outside service to complete the deal. (There is an Escrow.com integration with Uniregistry.)

The transaction happened really fast. The customer paid by a credit card. Uniregistry will only accept credit cards and PayPal if the domain is subsequently transferred to Uniregistry, otherwise, a wire is required. Keeping the domain at Uniregistry locks it down for 60 days, reducing the likelihood of a chargeback.

Uniregistry charges 6.88% on transactions under $5,000 when the customer pays with a credit card. This is in line with Escrow.com. Payoneer, a new entrant into domain escrow, charges a lower price, but I’m not sure what fees they add for credit card payments (which are limited to $2,000).

At any rate, Uniregistry seems on par with other escrow options. It’s certainly a lot less than other marketplace options as well, which will typically take 15% or more. Uniregistry charges 15% if it handles negotiations but nothing if you negotiate on your own behalf.

The downside to Uniregistry’s fee structure is “exit costs”. I think a lot of this has to do with the company being in Cayman. According to the fees page, you get one free payout per month, then you have to pay a fee for additional payouts. A customer support rep told me they actually pay out weekly. Also, it only pays via PayPal and WireTransfer. PayPal payments aren’t mass pay, so you have to pay fees. ACH is not an option, either.

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Source: Domainnamewire.com