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discuss iBlock .com sold $50000. Lesson learned "Never underestimate the offer submitted by anyone."

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TERADOMAIN

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First of all thanks God, Family, & friends.

I am trying to share something here after long time. I am very grateful to this forum. This forum played very important role in my digital journey. I observed and learned as well as keep learning many things from this forum. I made and still making many friends from this forums regularly. I learned with time what to share and what not to share due to various circumstances. But I wanted to share something which may add some value in somebody's journey. We all learn and improve with time. Sharing is caring. Progress is never ending journey. Experience is our best teacher. Something we can experience ourselves and something we can learn from somebody's experience.

Let me share a little story of my following recent sale.


iBlock (.)com sold for $50000 via @DAN.COM


Some background story:

  • I received $50000 offer via Dan
  • I checked Country IP not looking promising
  • I did not check person's name via Google who they may be
  • It was early morning when I checked because the offer came late-night.
  • I accepted offer thinking if the offer is fake Dan will ban the buyer and he won't submit fake offers to someone in future.
  • Next day I got email about Dan sent buyer a payment reminder. This is very normal.
  • Suddenly after 48 hours I got email from Dan that they received payment from buyer.
  • I couldn't believed initially because I thought it was fake offer. I realized what did I do?? I made a mistake because I always try to negotiate with someone. I converted many $500 to $2500 opening offers into High $XXXXX to Low $XXXXXX successful deal.
  • Couple people / friend suggested me to cancel the deal. But I said nope I am not going to do that. Knowingly / Unknowingly I agreed to the deal and I always honor my commitment. We need to have ethics, morality, and good intentions in life. I give high importance to those qualities in life and I do practice that by improving slowly and gradually in life.
  • I transferred name to Dan's Godadddy's account and completed the deal


Why I accepted the offer & Why I think I undersold it:


  • Since sometimes been getting many odd offers via Dan which can be the case anywhere regardless of any type of landing pages we can use. So I do not think it's Dan's fault but yes I do think they need to improve something for sure.
  • The main issue of getting these unrealistic offers of Seven to Eight figure because many times the buyer thinking they are submitting offers in their local currency. If we convert those figure from those countries to USD then conversion may end up around $XXX to $XXXX.
  • So I got many real offers as well as many fake offers. When someone submitting offer whose country does not look promising then I accept their unrealistic offer and unclick the "Sold" checkbox under my settings at DAN. This way if they pay we have a deal and if not then Dan will ban them from future offer submission, but at same time our name is listed for sale instead of waiting for days to figure out if the offer was real or fake.
  • I did received many fake and real offers recently. It was early morning and I didn't realized $50000 offer was not near my expectation because my expectation was low Six fig. iBlock was one of the best brandable Blockchain name in the market after BlockChain / Block / Chain etc. All of these names already sold for Deep Seven figure recently which leaves iBlock the available best Blockchain name in market.
  • I did received many Low $XXXXX offers regularly on iBlock. So I knew we need to have patience to hold until someone knock the door with proper budget range.

My Mistakes:


  • I accepted offer even the offer was not close to my expectation
  • I accepted offer without some background study about who the buyer can be
  • I love negotiation in general to improve my negotiation skill. But for some reason I accepted offer due to early morning unconsciousness.
  • I had $50K minimum set at DAN & $100K minimum set at Afternic. It had no Bin. So in short I did not check I had 2 different minimum at 2 different platform.

Lesson Learned:


  • Always learn about who the potential buyer can be
  • Always counter offer to taste the water
  • Do not participate in negotiation unless you are fully conscious of what you are doing. LOL
  • Negotiate with facts and data to bring the best possible results.


I hope this story may be useful to some friends here. I will be very happy even if this story brings better results for at least 1 friend or more. @AbdulBasit.com @Bob Hawkes @Nikul Sanghvi @Recons.Com @James Iles @Rob Monster @Riz M. and many other friends sharing many things which is helpful to others. So I thought let me do my little part.


Thanks
 
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The views expressed on this page by users and staff are their own, not those of NamePros.
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I just read the story on a website. Congrats friend! Another great sale!
 
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I just read the story on a website. Congrats friend! Another great sale!

Thank you my friend. Really appreciate your sharing of view.
 
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Congratulations!

@TERADOMAIN i miss you!

Great to see you success.

Samer
 
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He did it again... a million congrats my friend (y)
 
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  • I did receive many fake and real offers via DAN. I used my rough judgement because country from where I received offer I never completed any deal from buyer of that country.
  • Just yesterday DAN canceled $50K deal due to buyer accepted counter offer but they didn't complete the transaction.

Hi

Thanks for replying

could you state how many offers on Dan are real versus fake, percentage wise?

also, i have never bothered to check what country an offer originates from.

so, does the inclusion of that metric, have ability to change the mindset to a non-serious perception of that potential?
as in, knowing the offer is from a certain country, excludes it from being taken seriously.
did majority of fake offers come from a single country or various regions?

i only have one name pointed to their platform and never had any sales or inquiries to date.
so, if it's a pertinent note, to note, then i'd like to note that.

tks

imo....
 
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Hi

Thanks for replying

could you state how many offers on Dan are real versus fake, percentage wise?

also, i have never bothered to check what country an offer originates from.

so, does the inclusion of that metric, have ability to change the mindset to a non-serious perception of that potential?
as in, knowing the offer is from a certain country, excludes it from being taken seriously.
did majority of fake offers come from a single country or various regions?

i only have one name pointed to their platform and never had any sales or inquiries to date.
so, if it's a pertinent note, to note, then i'd like to note that.

tks

imo....


  • I would say its very random but around 25% or more fake offers if someone submitting offers in 5 / 6/ 7 fig range.
  • Offers from various regions. But large offers from countries whose exchange rates are so high can be considered fake.
  • I don't have a fixed formula. End of the day I use my rough judgement.
 
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Congratulations and thanks for sharing.
What you write is very good, especially about ethics and honesty.
It is good to know that such people still exist.

Enjoy it
 
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Congratulations and thanks for sharing.
What you write is very good, especially about ethics and honesty.
It is good to know that such people still exist.

Enjoy it

Thanks. Really appreciate it.
 
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@TERADOMAIN , amazing story! Congrats on the sale. I agree that integrity and learning is more important than maximizing income for each separate deal.

What you are doing is a great inspiration for those that get discouraged by the thought of being too late too the party with all the good opportunities long gone.
 
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Great Domain, Nice Sale. Many Congrats...:xf.smile:
 
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@TERADOMAIN , amazing story! Congrats on the sale. I agree that integrity and learning is more important than maximizing income for each separate deal.

What you are doing is a great inspiration for those that get discouraged by the thought of being too late too the party with all the good opportunities long gone.

Thanks dear friend. My most favorite niche is 4L where I had great great results over time. I learned and inspired from many for 4L and you are definitely one of that gentleman. Sold 3 4L for $100K in last 2 weeks. Will share some details via PM.

Thanks
 
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Great sale Teradomain and thanks for sharing your story.

Better 50k today than 100k in 5 years!

Do you think so? Sure i'd take $50k now, if i didn't know i was going to get $100k in 5 years.

But if someone from the future told me "your going to get a $100k offer for this domain in 5 years GUARANTEED" I'd turn down the $50k offer and wait.

That's $10k its making per year interest, you can't make that interest a year having 100k in an ISA account
 
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Great sale Teradomain and thanks for sharing your story.



Do you think so? Sure i'd take $50k now, if i didn't know i was going to get $100k in 5 years.

But if someone from the future told me "your going to get a $100k offer for this domain in 5 years" GUARANTEED I'd turn down the $50k offer and wait.

That's $10k its making per year interest, you can't make that interest a year having 100k in an ISA account

Thanks. I agree with you as well with different scheme of thought. But I would rather take $50K today instead of waiting for $100K after 5 years simply because my thought is "Trade, upgrade, & repeat". I can reinvest into something and repeat the cycle few times to stand even further than $100K.
 
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What country the offer came from?
 
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