Having completed our first transaction with CAX.com – the domain auction platform of French domain entrepreneur, Francois Carrillo – it is time for a quick review.
CAX.com - Where buyers and sellers meet to trade domains
Francois is known for the introduction of several niche platforms for domains; however, CAX.com accepts domains without any specific classification. With more than 5,000 domains listed currently, CAX.com requires an account in order to bid or list domains.
CAX.com listings appear regularly on Domaining.com – the domain blog aggregator that Francois has created – and it was there that the domain caught our eye, with 2 hours left to go and a single bid. The domain had no reserve and a BIN listed.
Bidding was easy – since we already have a Domaining.com account – and after placing a bid that outbid the previous high bidder by $20 we won the domain name once the clock reached zero.
An email was automatically dispatched, informing us and the seller that we had won the domain and requesting payment; once we submitted the funds via Paypal (4% had to be added to the winning total) another email instructed the seller to transfer the domain over to our account.
The seller was from Canada and promptly emailed us, asking for our GoDaddy account information. The domain was to expire in 10 days, however, so we asked if it were possible to transfer it out to Fabulous.com instead. The reason: when ownership is changed at GoDaddy, they lock a domain down for 60 days; we’d have to renew at GoDaddy and wait 60 days before transferring it out to Fabulous.
As it is, the seller was very co-operative, unlocked the domain and provided us with the auth code. We initiated a transfer out to Fabulous and in 24 hours we had the domain in our possession. At that point, we emailed Francois that the transaction was complete and he released the funds to the seller.
It seems that despite the manual intervention of Francois and CAX.com the system works well, when both seller and buyer want to perform the transaction swiftly. We will definitely use CAX.com in the future again and recommend it to others.
