- Impact
- 11,256
After having a reasonable amount of success over the past year with BIN-pricing/selling brand-centric domains, I am now running an experiment and have removed the BIN prices from close to 8,000 domains (most prices were frozen between $2K-$5K, sweet spot) to see if this adjustment increases sales, even if just by a little.
BINs may move more inventory if priced right. However, "make offer" does hold some advantages:
- these listings can generate more leads from buyers with smaller budgets (some of these could have moved on/been turned away from the "too high" BIN prices). These extra leads may lead to more sales
- With "make offer", you are in a better position to negotiate higher sales for best names; prices can indeed be reviewed and tweaked on an offer-by-offer basis. Technology/new products are emerging on a daily basis and suddenly some names could spike in value. BIN (in these cases that are few and far between) would mean leaving potential profits on the table.
- "make offer" also avoids selling domains that no longer belongs to you.
Feel free to share your experiences with "make offer" / BIN-based sales. What works best for you?
BINs may move more inventory if priced right. However, "make offer" does hold some advantages:
- these listings can generate more leads from buyers with smaller budgets (some of these could have moved on/been turned away from the "too high" BIN prices). These extra leads may lead to more sales
- With "make offer", you are in a better position to negotiate higher sales for best names; prices can indeed be reviewed and tweaked on an offer-by-offer basis. Technology/new products are emerging on a daily basis and suddenly some names could spike in value. BIN (in these cases that are few and far between) would mean leaving potential profits on the table.
- "make offer" also avoids selling domains that no longer belongs to you.
Feel free to share your experiences with "make offer" / BIN-based sales. What works best for you?