SEDO are you going to get more responses Using BIN instead of Make Me An Offer?

Planet9 · Apr 19, 2014

For people who use SEDO, are you going to get more of a response using Buy it Now for domains you are selling less than $500 or Make me an Offer? Thanks for your input

Planet9 · Apr 20, 2014

Thanks once more for your fantastic input

GambleDomains · Apr 20, 2014

Patience is a virtue.

I had all of mine as make offer, recently changed them to buy it now...nothing new to report just yet.

MasterOfMyDomains · Apr 20, 2014

GambleDomains said:
Patience is a virtue.

I had all of mine as make offer, recently changed them to buy it now...nothing new to report just yet.

Same here Gamble, I think your name gets listed at different places as well as sedo if is buy it now

Name Trader · Apr 20, 2014

Sedo recommends you use BIN pricing, to make more sales. They should know what they are talking about. But of course a BIN price of $500 on a $20 domain isn't going to get many takers. Which is why I prefer Make Offer pricing, personally. At least you get to start a dialog with the buyer.

mitok · Apr 20, 2014

Tough question.
I prefer "make offer" because that way I could get better offer than I expected. The same is with sending end user letters. On Friday I sold domain for $500 for which I would accept $200-$300, and maybe even $150 as I bought it here recently for $11. I mostly sell to end users directly, and my first email is without a price. A lot of times I received reply with instant offer much higher than I was ready to accept (sometimes even in mid $xxxx when I was ready to accept low-mid $xxx). At the other hand, the most of replies is "how much?", but some are instant offers and usually are higher than my asking price would be.
Well, when I am doing everything properly and am not lazy I send around 200+ emails per domain and make a sale. I receive cca 10 replies, mostly "how much?" I don't receive instant offer each time (for each domain). I will never know if I would received 30 "yes, lets proceed" replies instead 10 "how much?" if I wrote asking price in my first email. The most important is sale after all

I have sales all the time, but mostly we negotiate the price. I am thinking for years what would be the results if I would put my price at the table in a first contact, but somehow I like my results with "make offer" type of selling and the chance to get more than I expect

The point is.....with "make offer" you might receive better offer than you expected, but you also might be ignored as someone would think that you will ask $5000 although you know that you are ready to accept $300.

You have to make your own decision on this

Maybe you would have more sales at Sedo with BIN, but maybe one unexpected Sedo sale from "make offer" could be higher than all BIN sales

SearchEngineZ · Apr 20, 2014

I generally use BIN, they seem to work best.

I sometimes use Make Offer when the value of the domain is less obvious, and someone might think it is worth a fair bit, but I would happily take less.

Examples of where I have chosen Make Offer:

Airfares.us
AdsOn.net
3DFrame.com

Planet9 · Apr 20, 2014

stub said:
Sedo recommends you use BIN pricing, to make more sales. They should know what they are talking about. But of course a BIN price of $500 on a $20 domain isn't going to get many takers. Which is why I prefer Make Offer pricing, personally. At least you get to start a dialog with the buyer.

That was my original thought process as well but after a month or so of people going to the page- what are they expecting to see as its listed for domain name only, I decided to revert to Buy it Now using prices 75% less than SEDO recommends but over $200 apiece.
Will see how that one goes. I did leave Make an Offer on the Domains I think will be worth more in the future.

SpareDomains · Apr 20, 2014

Buy now speeds up domain sales but I only use it on low-medium priced domains that I'm looking to move out of my domain portfolio.

On the gems I think "Make Offer" is preferred as no sense locking yourself into a posted price point when offers are knocking on the door on a consistent basis.

New2Domaining · Apr 20, 2014

mitok said:
Tough question.
I prefer "make offer" because that way I could get better offer than I expected. The same is with sending end user letters. On Friday I sold domain for $500 for which I would accept $200-$300, and maybe even $150 as I bought it here recently for $11. I mostly sell to end users directly, and my first email is without a price. A lot of times I received reply with instant offer much higher than I was ready to accept (sometimes even in mid $xxxx when I was ready to accept low-mid $xxx). At the other hand, the most of replies is "how much?", but some are instant offers and usually are higher than my asking price would be.
Well, when I am doing everything properly and am not lazy I send around 200+ emails per domain and make a sale. I receive cca 10 replies, mostly "how much?" I don't receive instant offer each time (for each domain). I will never know if I would received 30 "yes, lets proceed" replies instead 10 "how much?" if I wrote asking price in my first email. The most important is sale after all

I have sales all the time, but mostly we negotiate the price. I am thinking for years what would be the results if I would put my price at the table in a first contact, but somehow I like my results with "make offer" type of selling and the chance to get more than I expect

The point is.....with "make offer" you might receive better offer than you expected, but you also might be ignored as someone would think that you will ask $5000 although you know that you are ready to accept $300.

You have to make your own decision on this Maybe you would have more sales at Sedo with BIN, but maybe one unexpected Sedo sale from "make offer" could be higher than all BIN sales

I appreciate your detailed response, the stats you included are very interesting. Would you mind a few followup questions?

How long does it take you to send out 200 emails for a specific domain? Do you automate the process at all or do u do identify each end user by hand and send each each email manually?

Do you refer them to your Sedo / Afternic listing in the first email or just ask them to respond if they are interested?

On average, roughly how many words are in you initial sales letter? I can't seem to get mine under 100 words without it feeling incomplete.

mitok · Apr 20, 2014

New2Domaining said:
I appreciate your detailed response, the stats you included are very interesting. Would you mind a few followup questions?

How long does it take you to send out 200 emails for a specific domain? Do you automate the process at all or do u do identify each end user by hand and send each each email manually?

Do you refer them to your Sedo / Afternic listing in the first email or just ask them to respond if they are interested?

On average, roughly how many words are in you initial sales letter? I can't seem to get mine under 100 words without it feeling incomplete.

I need few hours of real work, without wasting time

I don't use any programs, bulk mailing systems etc... I do everything manually. I like it that way as I am able to add/remove some parts of my selling text, according to each potential end user.

I don't refer them to Sedo / Afternic although my domains are mostly there too. I prefer that they respond to my e-mail so I do know exactly with who I am dealing with and am able to better determine the price

I never counted words, but I guess there is above the average number of words. I like to explain (in short) in a first e-mail how my domain could help their business. I cant help myself

Everyone will say "keep it short", but I simply cant send "Hi, would you like to purchase xxxxxxxxx.com? If so, please reply with your offer, Best regards, name and contact". I cant

There are many uneducated end users that get their website and domain from some web design company and do know nothing about domains. Their business might be some heavy engineering and they could see my e-mail as nothing to do with them. That is why I like to put some additional words related to them, although I don't do that every time.

Hope this helps. This is just my way. Some other experienced domainer might say something different.

Name Trader · Apr 20, 2014

Planet9 said:
That was my original thought process as well but after a month or so of people going to the page- what are they expecting to see as its listed for domain name only, I decided to revert to Buy it Now using prices 75% less than SEDO recommends but over $200 apiece.
Will see how that one goes. I did leave Make an Offer on the Domains I think will be worth more in the future.

You could be leaving a lot of money on the table if you are basing your price on Sedo's suggestion. I usually find them too low. But that's just me probably overvaluing my domains.

Planet9 · Apr 21, 2014

I think you are overpricing them based on my Sedo limited one month experience when I used Buy it Now. For domains Sedo said should be $2,000, I priced them at $800 Buy It Nows & for stuff Sedo said should be $600-1000, I priced them from $250-$400 and got Zero Buys at "Bargain Discount Prices". Of course that was just over a 30 day period and if that's too small a period to base a conclusion on, you could be right.

New2Domaining · Apr 21, 2014

mitok said:
Hope this helps. This is just my way. Some other experienced domainer might say something different.

Yes that does help, I'm glad I'm not the only person who send emails over 100 words long, LOL.

So you can identify around 200 prospects and email each of them in a few hours? That's impressive, I'm going to try doing something similar tomorrow!

dknight · Apr 21, 2014

SpareDomains said:
Buy now speeds up domain sales but I only use it on low-medium priced domains that I'm looking to move out of my domain portfolio.

On the gems I think "Make Offer" is preferred as no sense locking yourself into a posted price point when offers are knocking on the door on a consistent basis.

I was thinking about this myself and this is a good approach. Highly valuable domains are the ones you want set at "Make Offer".

garptrader · Apr 21, 2014

My view is that probably ~90% of domains should be priced but leave the best domains as make offer so that for those few spectacular names you don't limit your upside (but put appropriate reserves so you don't get bombarded with lowball offers). Most of my sales at Godaddy/SEDO sell in the $299 - $799 range though there are outliers outside this range. Sales above $1500 are rare so pricing above that level increases the likelihood of sitting on that name for a LONG time. In 2014 new regs are not likely to earn significant type-in traffic so renewals must be paid for with domain sales. Note I totally ignore SEDO's pricing tool and Estibot valuations. I make the pricing decision - not some automated tool. However, if sales are lacking, some price adjustments may be overdue (on multiple occasions I have had a domain with offer page views at SEDO and within the same week the buyer finds it priced cheaper at Godaddy and buys it there).

Note that just because a domain doesn't attract offers a few months after acquisition doesn't mean it has no value. It is not uncommon for me to sell a domain five years or more after I first acquired the name (I sold a name for $2500 in December which I hand regged five years prior). The challenge for newbies however is learning which domains are worth renewing for five years and which should be dropped before the first renewal. I believe new TLDs are going to disappoint in that regard - renewals will break the bank before an end user market develops for those names.

frank-germany · Jun 2, 2016

stub said:
Sedo recommends you use BIN pricing, to make more sales. They should know what they are talking about.

BIN price :

advantage to Sedo:
automated sales
no manual negotiaion

I don't think its really in the sellers best interest
but definetely in sedo's

frank-germany · Jun 2, 2016

stub said:
You could be leaving a lot of money on the table if you are basing your price on Sedo's suggestion. I usually find them too low. But that's just me probably overvaluing my domains.

appraisals are BS
sedo automated appraisals are professional BS

biggie · Jun 9, 2016

Hi @Planet9

your question has been quite a few times, here's another thread with my reply:

https://www.namepros.com/threads/bin-or-make-an-offer-option.945056/#post-5517894

Good Luck!

imo...

DNScholar · Jun 9, 2016

Sedo says its data proves BIN is better than Make Offer.

trp3 · Jun 9, 2016

DNScholar said:
Sedo says its data proves BIN is better than Make Offer.

It is usually 60/40 for BIN.

SEDO are you going to get more responses Using BIN instead of Make Me An Offer?

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