how you even ask 40k for a 3 word domain?
the guy is a force of nature. congrats!
how do you make a 7 figure sale ?
ask for it
I've always thought about this when seeing such big sales. and as a newbie I've always wondered if perhaps a "selling technique" for such domains is the HYPE of the seller ie. Mike Mann the King!
I think Mike has created a following for himself online so much so that just by him simply offering you a domain to purchase. You as a buyer must feel a bit like in the presense of Elvis or Frank Sinatra.
Even if you don't know Mike. a simple Google search will give you the "gist" about him.
so I think merely on online "clout" alone sells his domains.
I mean cmon I'm sure many of us on here believe we have better domains than this 3 letter domain. yet ours will never sell for this much. even if they were 4L.com's and single dictionary words.
So here's what I think happens.
I've always thought that when you "pitch" to a potential buyer and tell them you want $40,000 for a domain. and a 3 letter domain at that! That I think the "big boys" of domaining mention this:
When a domain sells for Big Bucks?
It will be TALKED ABOUT in all the news outlets for domaining online.
in fact the domain will be mentioned in all the best high ranking sites online. This is CONTENT for these sites. Content like this gets their readers to keep visting their sites.
In effect. the domains rank and popularity gets a boost.
so it's almost like paying $40,000 for advertising or the domain while thee other one is just the Cherry on top.
It's like paying $40G's for a domain and getting Free advertising that increases the value of the domain.
Or paying $40G's to advertise your website on all the top rank websites online and getting a domain for free.
I liken this scenario to when Reality Stars or Rappers or Celebrities (people who SHOULDN'T be famous or Popular i.e. NO TALENT)buy multi-million dollar homes and cars and live lavish lifestyles ( most of which is lease and rentals only)
Their PR people tell them to do this because it gets the Magazines and news sites and national enquirer types talking.
(this is why you end up seeing stars on skid row...depending if they had good financial advisors.because they are told to spend spend spend so the news site will gossip about them)
As they say in the biz. if No One is talking about you. Then you won't be worth crap.
So I think Mike Mann and all thee other guru's use this template to get themselves notoriety or fame. Even if it's a bad negative story. It's still free publicity.
So when they mention their other domains they literally piggy back off their past news of past domain sales.
It's pretty ingenious actually. Love it!
so next time you get a bite on one of your domains. why not tell them
"Did you know if you buy this domain for your company for $50,000 that it will get picked up in all the domaining news sites? and people will talk about it and mention it in all the top rank forums and blogs and news outlets?? This domain is already awesome as is. but the cherry on top is if you buy it for $50,000 it's like paying $50,000 for free advertising. and I guarantee all the SEO Ranking analysis software out there will value your domain more than what you paid for INSTANTANEOUSLY! In fact??? I'll even pay for a PR Release mentioning the sale of this domain for $50G's to guarantee this. So do we have a deal?"
ROCKSTAR!
LOL
sorry for rambling. I've thought about this obviously too much.
Does anyone believe this is going on behind the scenes? because the gurus won't spill their trade secrets like this one perhaps?
Everyone always says. "How the hell did he sell THAT domain for THAT Price?" and then think "What am I doing wrong?"
And then they say " I could never (with a straight face) ask for $XX,XXX for any of my domains.
Has anyone ever thought that the reason why Mike can confidently ASK for that much is because he has already scripted his sales pitch?
Mike is literally selling himself not his domains. His Name attached to each of his domains ads value to his domains. a piece of paper is worthless until Frank Sinatra signs it.
I mean think about it. if given the scenario above. What potential buyer wouldn't buy his domains?
"Say what? so you are telling me Mike? That if I buy this domain for $50,000 in a few weeks it will be worth 10%-50% or even 100% more because of the free publicity? Sign me up! and where do I send my check?"
lol
in a way it's kinda like the stock market pump and dumps where a bunch of investors make a plan to buy a stock to show it's increase in value which in turn gets people to buy more stock. Therefore the Value is created out of thin air. The company's value is not from sales of products or services but totally from stock investors. Value is created by publicity.
I do think that after a sale. Mike does follow thru and gets a domain he sells all the publicity in the world thereby creating happy customers.
I hope people don't think I'm crazy babbling. doesn't anyone agree with me? man I hope I'm not the only one.
Great Sale Mike! Best of luck!