Hey Everybody!
I have recently received some interest from a potential end user in a premium domain name that I own. The end user looks to be a small-medium sized business and after very limited outbound marketing (have had no time do any and not sure how to, but will learn soon) they asked me for a price.
Their opening offer was pitiful at a low XXXX and I sent an emailing explaining that this was far too low and that domains of this calibre regularly sell for 6 figures and provided some details on recent sales as well as how the domain will help their company.
I received no reply and followed up again to see if they wanted to make an offer but they again gave a low ball offer.
The third time, I simply said that the absolute lowest we are prepared to take is $XX,XXX (very high 5 figures). The CEO is now saying that he wants to think about it and also asked me how transfer of ownership of the domain name would work. This sounds like he is becoming more interested at this price point.
My response was that there are 2 options, one would be for him to create an account at where the domain is registered currently and that I can simply push the domain into his account and he will have full ownership of the domain. The second option would be for me to generate an AUTH code and he can initiate a transfer at Godaddy (where is currently domain is) using this code and the domain will be transferred into his Godaddy account. I provided a bit more of a detailed explanation around the both.
I then mentioned we should use Escrow.com to facilitate the process of payment and domain transfer to protect both buyer and seller and explained that I only get paid once he gets the domain so it is safer for both parties.
Now my questions are:
1) Did I do anything wrong with the above - I have to admit I am an amateur but I do know the domain is very valuable and I didn't get it cheap to start with. However, this would see a nice profit if sold at this price.
2) How long should I give him to think before I contact him again and what should I say? He sent his last email on Monday (7th Jan). I don't want to be too pushy but also I don't want to leave it too long that he loses interest.
3) If he comes back with an inadequate offer, shall I either:
a) stay firm with the price
b) lower the price (will this make him think he can keep pushing lower?)
thanks!
I have recently received some interest from a potential end user in a premium domain name that I own. The end user looks to be a small-medium sized business and after very limited outbound marketing (have had no time do any and not sure how to, but will learn soon) they asked me for a price.
Their opening offer was pitiful at a low XXXX and I sent an emailing explaining that this was far too low and that domains of this calibre regularly sell for 6 figures and provided some details on recent sales as well as how the domain will help their company.
I received no reply and followed up again to see if they wanted to make an offer but they again gave a low ball offer.
The third time, I simply said that the absolute lowest we are prepared to take is $XX,XXX (very high 5 figures). The CEO is now saying that he wants to think about it and also asked me how transfer of ownership of the domain name would work. This sounds like he is becoming more interested at this price point.
My response was that there are 2 options, one would be for him to create an account at where the domain is registered currently and that I can simply push the domain into his account and he will have full ownership of the domain. The second option would be for me to generate an AUTH code and he can initiate a transfer at Godaddy (where is currently domain is) using this code and the domain will be transferred into his Godaddy account. I provided a bit more of a detailed explanation around the both.
I then mentioned we should use Escrow.com to facilitate the process of payment and domain transfer to protect both buyer and seller and explained that I only get paid once he gets the domain so it is safer for both parties.
Now my questions are:
1) Did I do anything wrong with the above - I have to admit I am an amateur but I do know the domain is very valuable and I didn't get it cheap to start with. However, this would see a nice profit if sold at this price.
2) How long should I give him to think before I contact him again and what should I say? He sent his last email on Monday (7th Jan). I don't want to be too pushy but also I don't want to leave it too long that he loses interest.
3) If he comes back with an inadequate offer, shall I either:
a) stay firm with the price
b) lower the price (will this make him think he can keep pushing lower?)
thanks!
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