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blog Don’t Explain Your Price. Explain the Opportunity.

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Don’t Explain Your Price. Explain the Opportunity.

Yesterday, I posted on X: “Don’t explain your price. Explain the opportunity.” One follower asked a great question: “Can you give an example?” Instead of an example, let me just further explain. Here’s the thing. Every domain investor eventually hits this wall. You quote a price—let’s say $25,000—and the prospective buyer’s jaw drops. They ask, “How can a domain possibly be worth that much?” It’s a trap. The moment you start justifying the number, you’ve lost control of the conversation... Read more at SullysBlog.com
 
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Great points, another thing to remember is many of these end-users that balk at the high price wouldn't sell the domain themselves for that cheap. They see the value, they just want it as cheap as possible.
 
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enterscope said:
Great points, another thing to remember is many of these end-users that balk at the high price wouldn't sell the domain themselves for that cheap. They see the value, they just want it as cheap as possible.
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Very true that many people want something for nothing.
 
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Good article & some wise words.

Do you have a background in psychology, or are these things you have learned over the years?


Also btw, the link in your signature is resolving to a 404 page FYI.
 
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Chris, thanks for the call out on the bad link. Fixed.

This is just my experience, pure business background.
 
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Good advice, but only applies to maybe ~1% domains (which admittedly is still a lot). All the rest are domains we registered because the premium version was already taken and the buyer wants to buy because the premium version is too expensive. We both know the reason, we just need to find the golden mean of the price. ;) (IMO the domain from your example falls in that second category as well.)
 
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enterscope said:
Great points, another thing to remember is many of these end-users that balk at the high price wouldn't sell the domain themselves for that cheap. They see the value, they just want it as cheap as possible.
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Agreed, if they inquire about the domain, they already see the value... maybe not all the value, maybe they still need a little nudge, for example to show why your sub-premium domain at $10k is a better purchase than another sub-premium domain at $5k - maybe it's a better fit for their product line, maybe the phrase is more common, maybe it has some backlinks etc. etc. But it still a dance around the elephant which is the premium domain, which you don't have and the buyer cannot afford.
 
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One of the best statements I've seen in a while, demonstrating the power of setting a price without trying to justify it.

When you're buying a luxury car at the dealership, you don't take it apart to add up all the parts' worth—the value is the unit itself.
 
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Very Wise Words To Have Better Chance of Closing a Sale!!!!
 
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Thanks so much for this post! This was INVALUABLE information for me!!!
 
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DomainJava said:
Thanks so much for this post! This was INVALUABLE information for me!!!
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Glad you found it helpful. Hope I have other nuggets of info on my blog that you find just as valuable.
 
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Sully said:
Glad you found it helpful. Hope I have other nuggets of info on my blog that you find just as valuable.
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Feel certain I will and would love to follow your blog…thanks again!!!
 
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