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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.
Congrats on this awesome domain sales @TERADOMAIN .

Your honesty and integrity would be a an great example for everyone to follow in our business dealings (y).

Also thanks for sharing your story of the this wonderful domain sale with us :xf.smile:.

Thank you. Glad to hear this story may be helpful to you in future.
 
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Maybe and hopefully it was just a blessing being bestowed upon the buyer. If that's the case, then you played a part in something more special than money. I dig it though. I hope you do to.

Thanks. Agree with you.
 
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Well, this is what costed you $100 000+, in my opinion:
  • "I checked Country IP not looking promising"
I have learned in my life never to underestimate any country/people/nation/nationality/etc...

There are, certainly, higher probabilities that someone from Norway or Monaco will pay on average much much more than someone from Uzbekistan or Tanzania .. but...

You do 99% of things very professionally, never let any bias cloud your judgment, and you will be 100%.

:)

Thanks for sharing your view. Really appreciate it. We all learn from our past and try to improve with time for better future.
 
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Congrats, getting 50k is better than some other domainers who let some nice domains go for 5k

Still I believe you sold this domain at its wholesale value which is perfectly fine since domainers buy and sell names at wholesale prices all the time,

but

if you have some other domains that are of the same caliber it probably would be a good idea for you (and everyone else) to categorize your portfolio so that you would know ahead of time which domains you are willing to let go at wholesale prices and which ones you want to hold onto in the hopes of extracting the most money from.

Categorizing the portfolio should be done ahead of time so that you'll know exactly how to respond to each offer when someone shows interest in your domains.

For some domains you might be better off by saying no to individual buyers and smaller businesses and wait for the right end user (big company with unlimited budget) to knock at your door.

IMO

Thanks for sharing your view. Really appreciate it.

Trade, upgrade , & repeat is my model. I do reinvest % of profit into different asset class.

Thanks
 
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Congrats bro.. hence proved (i) plus keyword domains are not outdated if term is strong they still works :) some still believe i is old fashion but i think they still have potential if paired with correct keyword

i is one of the very great prefix without Apple. But yes Apple played big role to take them to next level. Recently majority of Apple’s new products they stopped using “i” as a prefix such as AirPods, Apple Watch instead of iWatch etc. but end of the day “i” is still far better option as a prefix than so many other letters.

For example:

iBlock is far better choice than BBLock / CBlock in Brandable zone.

Thanks
 
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@blogspotter "Lesson of the day Always have your coffee before opening offers early in the morning". Best comment. Exactly what I's thinking. @TERADOMAIN Did you have your coffee before accepting this offer? Cheers for sharing mate.
 
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@blogspotter "Lesson of the day Always have your coffee before opening offers early in the morning". Best comment. Exactly what I's thinking. @TERADOMAIN Did you have your coffee before accepting this offer? Cheers for sharing mate.

Thanks. No I did not. I just seen someone submitted $50K as their first offer. I accepted as is thinking it’s fake offer. 😂
 
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Congratulations. I appreciate your sharing this sale and the lessons.
I think if you had tried to negotiate instead of "accepting" the offer, you may have requested for some equity seeing that the name is worth six figures in my opinion. In face it think you could have even demanded for some equity and still sell for 50K. just saying......
 
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Congratulations. I appreciate your sharing this sale and the lessons.
I think if you had tried to negotiate instead of "accepting" the offer, you may have requested for some equity seeing that the name is worth six figures in my opinion. In face it think you could have even demanded for some equity and still sell for 50K. just saying......
I've had a friend have a big offer fall through by asking for equity when they couldn't offer it. Not always a good idea, but I suppose a possibility.

@TERADOMAIN thanks for sharing your valuable insight, I'm always amazed at how you manage to do such great sales. You obviously have an eye for the right assets. Great work.
 
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Congratulations
I wish you continued success .

Best Regards
((Devanos))
 
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Congratulations and Tq for sharing, I have had a few high offers from Dan but ended up all FAKE ones

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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Many congratulations.

Great name.

Wish you more luck. (y)
 
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Congrats and thank you for sharing. Yes, lesson learned. We'll both keep that in mind.
 
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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

Tbh, saying "I don't think it's Dan's fault" is kinda mean. And I understand that TERA is a huge successful domainer who has sold $xxx,xxx...

but it's not like this domain sold for $300 or $2,000... it sold for mid xx,xxx, literally :P. i'm pretty sure the acquisition cost is not as high, maybe not even over x,xxx. So it's still a large multiplier in terms of ROI...

I believe it's a good sail. Could've gone xxx,xxx for sure but that takes TERA-level skills and most of us would settle for high $xx,xxx... and some would've even sold for $17,000.

It's not DAN's fault at all. In fact, I applaud DAN because it was a legitimate buyer! If DAn had stricter filters, then this buyer would not be able to make an offer at all simply because he lived in such a countrY? What does that say about all our Nigerian domainers who complain about prejudice just because of their IP?

I believe DAn did the right thing here.
 
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Thanks for sharing the story and the lesson. Although it's a pity to accept the offer incautiously, it's still good to see you honoring your commitment, ethics and morality. 👍
 
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Congratulations! Indeed undersold but you can reinvest same in the same type of assets which in the future yield more returns.

You lost one but can have multiple assets in the same category with this proceeds and make more in future.
 
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"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."

Why would you think the offer is fake if you expect more than $50k for the name? also why would you accept an offer of $50k if you wanted more than that?
No need to be sad about that, it seems like you didn't believe someone will offer $50k and this is why you accepted it immediately because deep inside you were probably scared you'll scare the buyer off if you'll send a counter-offer, otherwise you would've countered.

Anyway it's a great sale and you should be happy about it
 
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"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."

Why would you think the offer is fake if you expect more than $50k for the name? also why would you accept an offer of $50k if you wanted more than that?
No need to be sad about that, it seems like you didn't believe someone will offer $50k and this is why you accepted it immediately because deep inside you were probably scared you'll scare the buyer off if you'll send a counter-offer, otherwise you would've countered.

Anyway it's a great sale and you should be happy about it

Thanks for sharing your view. But let me share my feelings with you. I do get many fake offers on Dan regularly in large amount. I started accepting them and relist the item immediately. So if they pay its good and if they don't they will get banned. I shared few more angles. I even shared I did received many low Five fig offers on it regularly. It was early morning and I accepted offer without giving extra thought. I do not share my sales regularly for a reason, but that does not mean I only sold those names which I shared publicly. If we talk about May I had $175K worth of sales. So $50K is not going to make or break anything in my life. Yes I do value each and every sales and I do value each and every penny. I only shared because I thought it may help someone not to underestimate anyone regardless of any size of offer. Someone may be real who may sounds like fake. That was the little lesson I wanted to share with everyone from where I learned many things over time. I am happy about any sale regardless of number because my uncle taught me "It's ok to regret after selling instead of hold something for long and regret later."
 
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Congratulations. I appreciate your sharing this sale and the lessons.
I think if you had tried to negotiate instead of "accepting" the offer, you may have requested for some equity seeing that the name is worth six figures in my opinion. In face it think you could have even demanded for some equity and still sell for 50K. just saying......

Thinking about other options were over as soon as I accepted the offer. :xf.smile::xf.smile:
 
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I've had a friend have a big offer fall through by asking for equity when they couldn't offer it. Not always a good idea, but I suppose a possibility.

@TERADOMAIN thanks for sharing your valuable insight, I'm always amazed at how you manage to do such great sales. You obviously have an eye for the right assets. Great work.

Thanks dear friend. I am trying to improve myself by observing activities around us. Continuous improvement is way of life. I wish best of luck to you and many other friends here.
 
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Congratulations
I wish you continued success .

Best Regards
((Devanos))

Congratulations and Tq for sharing, I have had a few high offers from Dan but ended up all FAKE ones

Many congratulations.

Great name.

Wish you more luck. (y)

Congrats and thank you for sharing. Yes, lesson learned. We'll both keep that in mind.

Thanks for sharing the story and the lesson. Although it's a pity to accept the offer incautiously, it's still good to see you honoring your commitment, ethics and morality. 👍

Thanks for sharing your feelings with me. Really appreciate it.
 
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Tbh, saying "I don't think it's Dan's fault" is kinda mean. And I understand that TERA is a huge successful domainer who has sold $xxx,xxx...

but it's not like this domain sold for $300 or $2,000... it sold for mid xx,xxx, literally :P. i'm pretty sure the acquisition cost is not as high, maybe not even over x,xxx. So it's still a large multiplier in terms of ROI...

I believe it's a good sail. Could've gone xxx,xxx for sure but that takes TERA-level skills and most of us would settle for high $xx,xxx... and some would've even sold for $17,000.

It's not DAN's fault at all. In fact, I applaud DAN because it was a legitimate buyer! If DAn had stricter filters, then this buyer would not be able to make an offer at all simply because he lived in such a countrY? What does that say about all our Nigerian domainers who complain about prejudice just because of their IP?

I believe DAn did the right thing here.

Thanks a lot dear friend. Yes DAN did fantastic job. It's some people who think they been submitting offers in their local currency. Dan did implemented some extra layers of confirmation to weed out the spam. End of the day fake stuff happens everywhere.
 
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Congratulations! Indeed undersold but you can reinvest same in the same type of assets which in the future yield more returns.

You lost one but can have multiple assets in the same category with this proceeds and make more in future.

I am very happy about the outcome. No regret. Just shared my feelings with all the friends here if something may be helpful to someone.
 
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Congratulations, thanks for the inspiring story.
 
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