STOP Counting Your Chickens BAWK

DomainVP · Oct 25, 2016

Man, oh man...

So we were treated to the story of a 47 minute hand reg domain name that was flipped for $1000.

Everyone ate that story up with salivating chops and itchy fingers waiting to go register some hand-regs.

Photo: We all like a good story, as long as it's true.

Well, as it turns out... the chickens were counted before they hatched.

The OP of the thread had the sad news for us yesterday;

boker said:
Looks like the sale didn't finalized after all.

The buyer didn't pay, and was banned from the afternic platform.

So why post this thread?

I'm sure it already is hard for boker. There is nothing worse in domaining than when a sale never materializes. It's like having a shiny gold bar dangled in front of your face, only to catch it and find out that it's a seasonal Chanukah chocolate bar.

The problem with this thread, which was viewed 5100+ times, is that for over 10 days people devoured a story that was less than accurate. This story drove dreams, strategies, and ambitions. I had never seen 'hand regs' get so much adoration over this period.

People that read similar news like to dream and fantasize, but it's just as important to loudly, and clearly, make it known that this did not result in an actual sale and is another case of counting a sale as sold before the transaction was complete.

Again... always wait until a transaction is complete before you start celebrate it as a finalized sale.

We were all rooting for boker, I hope this transaction comes through for you, or that you have better success in the near future.

boker · Oct 25, 2016

DomainVP said:
Man, oh man...

So we were treated to the story of a 47 minute hand reg domain name that was flipped for $1000.

Everyone ate that story up with salivating chops and itchy fingers waiting to go register some hand-regs.

Photo: We all like a good story, as long as it's true.

Well, as it turns out... the chickens were counted before they hatched.

The OP of the thread had the sad news for us yesterday;

The buyer didn't pay, and was banned from the afternic platform.

So why post this thread?

I'm sure it already is hard for boker. There is nothing worse in domaining than when a sale never materializes. It's like having a shiny gold bar dangled in front of your face, only to catch it and find out that it's a seasonal Chanukah chocolate bar.

The problem with this thread, which was viewed 5100+ times, is that for over 10 days people devoured a story that was less than accurate. This story drove dreams, strategies, and ambitions. I had never seen 'hand regs' get so much adoration over this period.

People that read similar news like to dream and fantasize, but it's just as important to loudly, and clearly, make it known that this did not result in an actual sale and is another case of counting a sale as sold before the transaction was complete.

Again... always wait until a transaction is complete before you start celebrate it as a finalized sale.

We were all rooting for boker, I hope this transaction comes through for you, or that you have better success in the near future.

Less than accurate? Everything was exactly what I have said....the first words were that the transaction is in escrow, so it's not final...and it's not hard for #boker. Ok, it's nice when everything goes well....but from there to say that less than 1k is 'nothing worse'. I can give you lots of examples just from this year when hand regged have become real businesses after they were sold. It's not easy and it's not for everyone...but it's possible. I can give you another example of handregged which didn't finalized on flippa, because the buyer was banned for multiple accounts and could not pay...'doklo.com', you can check it, it shows as sold....after that in less than one week it had 5 watchers just on flippa. The main thing with handregged is that they are not liquid, so you need some alternative revenue to bring you cash until it's time to sell. Just out of curiosity, check and see how many handregged are sold in one week.It's exactly the same like in the offline business...you need a business plan, you need a market and buyers for your 'products' and you need a lot of inspiration and knowledge.

Manik · Oct 25, 2016

DomainVP said:
Man, oh man...

So we were treated to the story of a 47 minute hand reg domain name that was flipped for $1000.

Everyone ate that story up with salivating chops and itchy fingers waiting to go register some hand-regs.

Photo: We all like a good story, as long as it's true.

Well, as it turns out... the chickens were counted before they hatched.

The OP of the thread had the sad news for us yesterday;

The buyer didn't pay, and was banned from the afternic platform.

So why post this thread?

I'm sure it already is hard for boker. There is nothing worse in domaining than when a sale never materializes. It's like having a shiny gold bar dangled in front of your face, only to catch it and find out that it's a seasonal Chanukah chocolate bar.

The problem with this thread, which was viewed 5100+ times, is that for over 10 days people devoured a story that was less than accurate. This story drove dreams, strategies, and ambitions. I had never seen 'hand regs' get so much adoration over this period.

People that read similar news like to dream and fantasize, but it's just as important to loudly, and clearly, make it known that this did not result in an actual sale and is another case of counting a sale as sold before the transaction was complete.

Again... always wait until a transaction is complete before you start celebrate it as a finalized sale.

We were all rooting for boker, I hope this transaction comes through for you, or that you have better success in the near future.

Hey, we all have had those sales which didn't go through. That's why it is always advised to report a sale after funds have reached your bank account.

But don't kick a man when he's down.

ivey · Oct 25, 2016

Nice writing; hope you have a blog..

I personally do not report a sale until the money gets deposited in my bank account. I just don't feel a sale should be reported until it's completed.
But this is not anything against Boker or anyone else. It's just my personal conviction. I don't feel secure to report something until the person pays then, confirms they received the merchandise/inspection period and then escrow releases funds to me. Then maybe I'll report the sale here depending on the buyer agreement.

DomainVP · Oct 25, 2016

boker said:
Less than accurate? Everything was exactly what I have said....the first words were that the transaction is in escrow, so it's not final...and it's not hard for #boker. Ok, it's nice when everything goes well....but from there to say that less than 1k is 'nothing worse'. I can give you lots of examples just from this year when hand regged have become real businesses after they were sold. It's not easy and it's not for everyone...but it's possible. I can give you another example of handregged which didn't finalized on flippa, because the buyer was banned for multiple accounts and could not pay...'doklo.com', you can check it, it shows as sold....after that in less than one week it had 5 watchers just on flippa. The main thing with handregged is that they are not liquid, so you need some alternative revenue to bring you cash until it's time to sell. Just out of curiosity, check and see how many handregged are sold in one week.It's exactly the same like in the offline business...you need a business plan, you need a market and buyers for your 'products' and you need a lot of inspiration and knowledge.

What?

tweetsgonewild said:
Hey, we all have had those sales which didn't go through. That's why it is always advised to report a sale after funds have reached your bank account.

But don't kick a man when he's down.

You are right, I had one as well.

A few years ago I had a business contact me about a domain, and I quoted the six-figures... and they said yes. We then went to escrow and everything was moving along.

Suffice to say, I was over the moon with excitement.

However...

They were from Germany and read $134,000 as $134 USD.

The thing I didn't do was create a thread about my 'sale' in escrow and lead other investors to start investing in a niche.

It's not that @boker did anything wrong, it's that this very visible story was corrected with a very minor follow up.

It remind me of a newspaper reporting on an extreme criminal charge, and then the person is later found innocent. The initial story will end up on the front page in bold letters, while the retraction ends up on the bottom of page 8 in small font.

DomainVP · Oct 25, 2016

rivey001 said:
Nice writing; hope you have a blog..

Thank you, someday I will learn CPR and will resuscitate my blog

rivey001 said:
I personally do not report a sale until the money gets deposited in my bank account. I just don't feel a sale should be reported until it's completed.

Well said, I agree with you 100%; A sale can be reported when it's completed.

Manik · Oct 25, 2016

DomainVP said:
It remind me of a newspaper reporting on an extreme criminal charge, and then the person is later found innocent. The initial story will end up on the front page in bold letters, while the retraction ends up on the bottom of page 8 in small font.

Lol

biggie · Oct 25, 2016

didn't read that thread

boker · Oct 25, 2016

DomainVP said:
Thank you, someday I will learn CPR and will resuscitate my blog

Well said, I agree with you 100%; A sale can be reported when it's completed.

Most of the beginners are just learning that they can push a domain in the first 60 days so extra info, even if the sale wasn't completed will teach people something....and saying that I told something that is not accurate probably is just to get some extra views on your threads...the was your biggest problem in the last days, that I had a sale that didn't finalized and it had 5100 views....maybe it will be more constructive to talk about your domaining adventure, good or bad, than trying to teach people about what can they say and what they can't say

DomainVP · Oct 25, 2016

boker said:
and saying that I told something that is not accurate probably is just to get some extra views on your threads

So you did complete a sale $1000 that resulted from 47 minutes of hand registration ownership?

If you didn't then what you have stated in your previous thread was premature and is less than accurate. That's what people need to be aware of.

Nobody is picking at you, I think I've been pretty kind in my review of you and your thread that caused a lot of people to start placing value in hand-regs. It's more like tough love for us all to learn from.

----------

Now with that said, is the value in handregs of course there is. I sold a handreg I held for 6 months for $3400 USD (outbound).

Pros like @baseballworld and @Federer flip handregs all of the time.

I'm not saying that there is no value in hand registration.

What I am saying is that if you are going to parade your knowledge, or luck, for all to see and lead people down the path of a hand-reg frenzy. You should be sure of what you are saying, and at least have the skill set to back up your claims.

Jimmy.com · Oct 25, 2016

DomainVP said:
A few years ago I had a business contact me about a domain, and I quoted the six-figures... and they said yes. We then went to escrow and everything was moving along.

A few years ago I quoted $14,000 for kitchen.net, they said yes and wanted to pay by wire transfer.
A couple of days later $14 landed in my account... there's some interesting people out there

DomainVP · Oct 25, 2016

Jimmy.com said:
A few years ago I quoted $14,000 for kitchen.net, they said yes and wanted to pay by wire transfer.
A couple of days later $14 landed in my account... there's some interesting people out there

Ugh, thats painful! People are interesting indeed.

I stopped using commas in my price quotes after my own lesson. In addition I will use the dollar sign and "USD" at the end, just to be 100% clear.

i.e. $7888 USD.

Jimmy.com · Oct 25, 2016

I have to tell you of one where my chicken did hatch.

I had dr-hair.net (back in 2003 thereabouts) and quoted $640, for some reason the Chinese buyer didn't get my mail and asked me to fax the quote.
So I did... $640... I then got an email back saying they felt $6400 was expensive for the domain. So I asked them what they thought would be fair, they replied. "I think $3200 is a fair price" So of course I agreed and the deal was soon done.

So some people are interesting for the better!!

No way, just checked and it's now available to reg. LOL

platey · Oct 25, 2016

rivey001 said:
Nice writing; hope you have a blog..

I personally do not report a sale until the money gets deposited in my bank account. I just don't feel a sale should be reported until it's completed.
But this is not anything against Boker or anyone else. It's just my personal conviction. I don't feel secure to report something until the person pays then, confirms they received the merchandise/inspection period and then escrow releases funds to me. Then maybe I'll report the sale here depending on the buyer agreement.

Its a bit like a very popular online auction website when you order a product on it you don't give feedback until you receive item in good condition as described and fit for purpose and sellers never gave feedback until positive feedback was received etc and both parties were happy with the transaction etc

i suppose its the same with selling domains

i always hand reg my domains

DomainVP · Oct 25, 2016

platey said:
i always hand reg my domains

Don't forget to look at other venues, for just a few dollars more you could find a gem in the rough.

platey · Oct 25, 2016

DomainVP said:
Don't forget to look at other venues, for just a few dollars more you could find a gem in the rough.

you are right but just like shares if j buy at 0.01p etc the most i can lose is 0.01p if the stockmarket crashes but having seen shares jump from 0.002p to at least 20p or 50p to return over 600k from £400 ish investment -sold the 6 million shares that cost about £400 for £600k in my shares practice account using live share prices image more than happy buying domain names at hand registrars fee

STOP Counting Your Chickens *BAWK*

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