If you are selling domain names to China, how do you set favorable prices on your domains? Are there any rules or standards that Chinese sellers use? Do the last few digits play an important role? This strategy is often referred to as psychological pricing, charm pricing, or price ending, and it is based on the notion that certain prices may improve the chances of a sale.
I did a quick and small survey to find out by using the data available on 4.cn's domain marketplace. I used data from the BIN Sale page available on December 27. It showed 5,604,752 domain names for sale. I selected the default display settings and then collected data from ten pages.
From the collected data, I removed domain names selling in US$ because the sellers may likely be non-Chinese and may not follow any pricing standards or strategies used in China. 531 domain names priced in CNY were obtained, and here's what I've found:
How about the number
In conclusion, while this is not a comprehensive survey, it does suggest one rule that we can use: if in doubt, end your price with 888.
I did a quick and small survey to find out by using the data available on 4.cn's domain marketplace. I used data from the BIN Sale page available on December 27. It showed 5,604,752 domain names for sale. I selected the default display settings and then collected data from ten pages.
From the collected data, I removed domain names selling in US$ because the sellers may likely be non-Chinese and may not follow any pricing standards or strategies used in China. 531 domain names priced in CNY were obtained, and here's what I've found:
- The most popular last three digits used for prices is 888, e.g., 88888 CNY or 5888 CNY. This price ending appeared on 308 domain names.
- The second most popular is 000, appearing on 110 domain names.
- The third most popular is 999, appearing on 55 domain names.
How about the number
4
, which is considered to be an unlucky number in most cases? Do sellers avoid the 4,xxx pattern and price domain names at 5,000 for example? This survey does not show any preference. 32 domain names were priced at 4,888 CNY and 29 domain names at 5,000 CNY.In conclusion, while this is not a comprehensive survey, it does suggest one rule that we can use: if in doubt, end your price with 888.