China may be the largest domain market

domainking131

Forum Leader
Staff member
As reported by eName, the auction in the 2016 Global Domain Industry Summit held in Hangzhou, China brought in over 300m CNY of domain sales. That is about 46m USD!

I don’t remember if I’ve come across any auction sales of such magnitude, so I did some checking of old news about auction sales in domain conferences.

I think Namescon is the largest domain conference in the US. Namescon 2016 had over 1200 attendees. According to the January 13, 2016 blog post by Konstantinos Zournas, NamesCon 2016 auction made $1.5m USD.

Let’s compare these two figures: 46m vs 1.5m. The difference is massive. If this trend continues, China may become the center of domain sales in the future.

This also suggests that China will have great influence over the rest of the world and we need to be aware of events occurring in China.


TLDinvestors
 

GraceB

Member
Well, China is larger than India, and over five times larger than the US, so it's easy to see why practically anything is sold there in larger quantities. Add to that the economic growth and the ever-growing local middle class and it's quite obvious that China is a major market for almost everything.

It's just all the differences with the cultures that make dealing in China and with the Chinese domaining hard there. One would need a trusted local contact in order to invest.
 

Aces

New Member
Funny story: I made an obscure joke on a social media site about a friend's photography site. I used some SERIOUSLY obscene stuff in the title, absolutely a name I would never repeat under decent circumstances. And you know what? The domain ended up registered to some guy in china. I have a screenshot of it lying around here somewhere I believe, but when I say obscene, I mean like obscene. Nobody would ever want to own the title either...just hilarious.
 
Last year, China got a downturn after the Stock market crash. Nowadays the asian giant has some troubles trying to keep its previous growth pace. But yeah, It may be the largest domain market, chinese have a nose for business -also for corruption, but that's another matter to discuss elsewhere- and there are hundreds of millions of talented entrepeneurs out there trying to thrive in different areas. Domain business is a growing market, not surprise some chinese internet savvy will try luck there. The have the same drive force
to thrive that made NorthAmerican a great nation plentiful of daring millionaires, brilliant scientists, creatives artist etc.

Wish China policies could give more freedom of trade and speech to the chinese people, given that and We will witness the untapped potential of China as a Superpower. But well, I don't know how much they have to dealt with an imperialist and opressive government.
 

Aces

New Member
Chinese growth is out of control, lol. They have so many places expanding so constantly that there's no way they'll all succeed, but so many do at the same time...I think it's a sweet place and there's probably lots of ways to swing it successfully, but I also wouldn't go moving to chinese markets just for the sake of it..
 

NYK

New Member
For your interest:

Here are the sales from the China Global Summit held by GD and some others.

Chart is in Chinese. The word 万 on the end of the figures means 4 zeros and all prices are in RMB.

Total 6 screenshots!

Cheers!
 

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wot

Well-Known Member
Country flag
How many of the top buyers from the west were there for such a huge event?
 

NYK

New Member
Mainly Chinese. It was organised by GoDaddy and a Chinese agent.

There's another one next month too! 6-9 July!
YUMI.com
 

wot

Well-Known Member
Country flag
You would have thought there be "outsiders" for such an important auction?

How many of the "sales" do you think will actually complete as recent auctions in China are looking a bit dodgy?

Surprising number of .cn and .cc and gtld almost missing completely apart from .vip.
 
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NYK

New Member
You would have thought there be "outsiders" for such an important auction?

How many of the "sales" do you think will actually complete as recent auctions in China are looking a bit dodgy?

Surprising number of .cn and .cc and gtld almost missing completely apart from .vip.

Outsiders... Not sure what u mean? GoDaddy hosted the event together. Sedo was one of the sponsor too and got a prize award. One of Sedo management (sorry can't remember who) was tweeting with photo of the Summit presentation.

Dodgy not just in China... Happens quite often with ppl backing out from auctions. Happened to me a few times in renowned east and west marketplaces.
 

wot

Well-Known Member
Country flag
Outsiders... Not sure what u mean? GoDaddy hosted the event together. Sedo was one of the sponsor too and got a prize award. One of Sedo management (sorry can't remember who) was tweeting with photo of the Summit presentation.

Dodgy not just in China... Happens quite often with ppl backing out from auctions. Happened to me a few times in renowned east and west marketplaces.
They appeared to be closed door sales as there was such meetings arranged during the course of the conference for different grades of domains,no online bidding /auctions etc from what I could see so anything could have gone on?
I wonder if all the names "sold" were from Chinese owners and registry in the case of .vip.
 
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