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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.
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."


Understandable.
Congrats!
 
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Congrats for the sale! (y) Although you expected a bit more, $50,000 is a very good number for your investment. (y)
 
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Congrats and thanks for sharing this insight. I was just wondering how much you got this domain and how long it took to sell it. Would you be kind enough to enlighten me on the need why you should know who the buyer was when it was not a direct sales from you but through Dan? Sincerely speaking, thats a sweet name. Hope you made a good ROI on it to enable you make another huge investment. Thanks for sharing
 
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Congrats and thanks for sharing this insight. I was just wondering how much you got this domain and how long it took to sell it. Would you be kind enough to enlighten me on the need why you should know who the buyer was when it was not a direct sales from you but through Dan? Sincerely speaking, thats a sweet name. Hope you made a good ROI on it to enable you make another huge investment. Thanks for sharing

Thanks. Please go through the threads and various responses. You will find answers for most of your questions.
 
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@TERADOMAIN Thanks for sharing this valuable lesson and info! Also congrats on the $50k pay day none the less.

Funny it can go both ways, I once declined a starting 100k offer on a name, assuming it was a joke and told them further actions like this will get you banned from dan. LUCKLY ( I HOPE) this was for a .GG LOL so I assume it was a safe move on my part. When it comes to a Good .com I'll have to take every offer serious at first, and of course have my morning coffee :P

That was and is a fantastic name for the niche
 
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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.
  • Sometimes our little experience tells us if that offer looks real or fake. Plus it was early morning. I think I shared many minute details around the deal. ROI wise I am very happy but I sold less than my expectation without trying was my mistake.
I agree with you!
Two weeks back I received an lower $XXXXX offer for CarsBazaar.com and negotiated it to high $XXXXX, the buyer accepted the offer but didn't pay.
 
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I say you have done very well.:xf.smile:
Personally , I would go invest some of my profits at DotCrucible.:xf.laugh:
 
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Congrats on this $50k domain sale, and Thanks for sharing this experience. It's very inspiring and informative.
 
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Congrats and thanks for the post.

Usually I do respond humbly to every offer I receive, even if I'm not interested. But to be honest, sometimes the fake offers and non-payments are frustrating. Your experience will remind me to be more patient in all these cases going forward.

All the best wishes.
 
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wow awesome work, thats a hell of a domain, luckily the purchase was legitimate
 
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Great sale! And despite what some might say I think it's a very good price.
 
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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

Unexpected world this domain names trading. After SEDO, Alter i placed my domain ebonygangbang.net at BROKER.XXX and after 2 days i got an offer of 3999$. So, whats the point ? The market in domain trading is at one point unpredictable except 3L and 4L...but you never know. What i learned also is the fact that you need time and strong nerves in domain trading. If you are in pressure of fast money DO NOT START THIS BUSINESS !
 
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I guess u are victim of Dan's general reputation whereby there are there more nonpayers than elsewhere.
 
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received an offer $125 for Blocks1.com to sell or not? maybe someone from block.one ?
 
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Great sale! And despite what some might say I think it's a very good price.

well no. if buyer makes first offer 50k..and seller accepts then it's only good price for buyer.
 
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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
fine! don't you think you worked a lot and earned little for it?
50k is little for iBlock ... com
Regards!
 
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Congrats on the sale! $50k was a great return. No need to regret it.

The internet is very biased towards exceptions. We only hear about the 1% of success stories where the seller generated 1000X ROI. Because of that, we automatically start to think anything less is a failure or not enough.

Humans are super vulnerable to unrealistic optimism. Sure, there was a small chance you could've made more but there was a larger probability you could've ended up with nothing. Here's why:
  • Buyers are often fickle. If you give them too much time to think or try to over-negotiate, you risk losing the sale altogether.
  • The domain was idle for over 20 years before you purchased it. There was no guarantee how long it would've taken for another serious buyer to come along.
  • It was a very good price considering the comparables. In fact, most appraisers would've priced it less than $50k.
  • The domain market is very supply heavy with nowhere near as much demand (20+ million inventory vs 1-2% average STR). There are countless other names with the keyword "block" available in the $2-3k range.
  • The name has a number of registered trademarks in various categories like computers, hardware, software, education, vehicles, construction, etc. These would generally be a showstopper for buyers looking to spend five figures on a name.
  • The "i" prefix devalues the name a bit because most people automatically associate it with Apple.
My point is.. a lot more could've gone wrong than right so you should appreciate it. It's a huge win! :)

P.S. I can't help but think that you would've benefited more by assigning a BIN price to the domain. More about the buyer mindset here if you're curious.
 
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It's really a great name.Fake offers are always annoying.
I think we have to set the price carefully. A lot of times we are controlled by emotions.
 
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Many times one thinks after they sold a domain they could have gotten more since if someone paid $10,000 maybe they would have paid $15,000..

I think the price you got is quite high.. Congrats..

While other extensions are registered most go nowhere or to pay per click..

In addition there are a number of trademarks already existing for iblock that could be problematic for the new owner unless they are the owner of one the trademarks.. Maybe they are...

Personally I would be really hesitant to buy a domain for which multiple trademarks existed..
 
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