In this article we examine more than 175,000 domain name auction results to reveal the best day of the week for your auction to close on. In much the same way that email marketers consider the best day of the week to optimize for opens, the day your auction ends on can have a dramatic impact on the closing price. People are busy on Mondays catching up on emails from the weekend, and on Friday they are thinking about anything but work. So which day of the week is the best for your auction to close on? Let’s jump in and find out.
GoDaddy is far and away the most active domain marketplace with more than 500 auctions closing every single day. The chart below shows the results of more than 60,000 auctions and the clear winner is Wednesday with an average sale price of $1,341. Surprisingly, the weekend is the next best option with Saturday having an average sale price of $631 and Sunday having an average price of $613. The start and end of the work week were the worst days for sellers.
Most would agree that NameJet is the venue with the highest quality inventory. They opened up their platform a while back to private sellers with large portfolios and now they allow everybody to list domains. For NameJet we reviewed more than 25,000 auctions and the clear winner is also Wednesday with an average sale price of $2,703. However, unlike GoDaddy the weekend was the worst period for an auction to close.
Flippa is the new kid on the block, but they have a great audience of developers and affiliate marketers who are generally willing to pay more than domain investors. We don’t have nearly as much data for Flippa as we do for other venues with only a little more than 1,000 sales to analyze. Therefore the results aren’t as statistically significant because one huge sale could throw off the results. That ended up being the case as StockPhoto.com sold for $250k on a Wednesday and so did Rides.com which went for $120k.
I’m sure you guessed that Wednesday was the best day of the week for Flippa as well with an average sale price of $5,123. Even if we throw out those two outliers Wednesday is still the winner with an average sale of $3,661. Sunday was the next strongest day at Flippa, with Friday being the worst.
For Sedo data it is important to note that a majority of sales are reported to us, not recorded by us on the day they happened. I believe Sedo reports the date the transaction closed escrow, not the date an auction ended or a sale agreement was reached. Also a majority of Sedo sales are negotiated or purchased through a BIN, so unlike the other venues in this article many of the sales aren’t actually auctions. That said, they are a huge marketplace and it is worth taking a look at their data. We analyzed almost 95,000 sales and found, yet again, that the best day of the week was Wednesday with an average sale price of $4,874. Sunday was the worst day of the week for Sedo followed by Monday.
So there you have it, when you’re scheduling your domain for auction it is in your best interest to make sure it closes on a Wednesday. Unfortunately we don’t have data on auction closing times, but needless to say you should generally avoid your auction closing during times when people are commuting or are asleep. You should also consider your audience, if you are selling a numeric or short domain which lately are dominated by Chinese investors, you should probably schedule your auction to close at a reasonable time in Asia.
Michael Sumner is the CEO of NameBio.com, and is the lead developer at State Ventures which owns and operates geo domains such as OceanCity.com and Maryland.com. Michael is also the co-founder of DN Media, a company that has been involved in seven figures worth of domain name transactions.