Domain Auctioning Website

[m4jor101]

Hey guys, I had an idea to build a domain auctioning website as I'm sure like me a lot of people are fed up with the current domain auction websites, the leading domain auction site such as godaddy, sudo and others are so worst in so many aspects that I hate using them.

So I'm considering building it myself, domain auctions with help of escrow in between, and I'm looking for feedback and opinions from you guys on whether I should pursue this or not.

The idea is to provide a secure and reliable way for bidders and auction listers to transfer domain ownership and payment. The escrow service would hold the payment from the bidder until the domain transfer is complete, and then release the payment to the lister.

Here are some of the key features I'm considering:

* Secure payment sending and receiving through a trusted platform like (escrowdotcom)

* Verification of both the bidder and lister to ensure a smooth and fraud-free transaction.

* A user-friendly interface for managing auctions, bids, and payments

* Limiting the listings spam and overcrowding with junk domains by ensuring listers are asked to pay per day listing fee (like few cents/day).

* Limit the bidders from spamming/creating fake accounts from listers to hike offers through asking them to pledge a minimum from their wallet before making a bid (also minimal fee) and if they don't win the bid the pledge will be sent back to their wallets.

* Offer better customer service.

Any feedback or opinions you have would be greatly appreciated. Thank you!

[QodeQode]

To deal with the tax laws of every country will be a challenge. Unless you stick to one country which would limit your customer base.

[m4jor101]

I will be using escrow.com in between won't they be responsible for tax laws.

Also my website is just a platform for bidders and auction listers so they are the one's who will be paying taxes right?

And regarding the taxes on fees, I guess I will be using MOR such as lemonsqueezy Or paddle.

[cranberryturkey]

I'd use it if i could set a reserve price on an auction.

[m4jor101]

That's definitely an option I would add, where the auction lister can set a starting bid/minimum bidding and buy now price.