2nd Significant Sale (Rewired)

Discussion in 'Domain Name Sales' started by Ategy.com, Nov 7, 2017.

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  1. Ategy.com

    Ategy.com Business Member Business Account VIP

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    This sale of Rewired // dot // co was a little simpler than my last one.

    On Sept 7th I received short a direct email:

    "Hi there, please can you let me know if this domain is up for sale? If so, what your asking price is.
    rewired /// dot /// co"
    (He wrote the URL the normal way)


    I saw this email and thought to myself .. wow .. this is actually a good domain and figured I'd try 2k .. but then after checking my master domain spreadsheet, I realised I had it listed a couple places at $1000, so figured I wanted a bit of sales momentum and didn't really want to push my luck. I figured I'd give a little under the $1k so I wouldn't have to pay the listing fees if he looked at one of the marketplaces I had it listed already. So responded a little under 24 hours later with:

    "Hello ___,

    Yes Rewired // dot // co is available at $1000. To keep things simple and secure for both parties we could do $900 plus escrow.com fees (should be around $30-60 depending on your method of payment to them).

    Let me know if you would like me to commence the transaction through Escrow.com.

    Regards,"


    Obviously trying to get a better deal, the buyer replied 16 hours later with:

    "Hi ___

    I'm a startup so that would be a little steep for me , I've had a chat with my finance person the best we could do is 450 USD, would that work for you ?

    Thanks _"


    At first I was thinking how with the current rate I was selling domains, I'd barely be keeping up with renewals, so in fact my $900 was actually indeed a fair offer. But then I also thought to myself that I really wanted the sale and could meet him in the middle.

    (Slow sales is partially my fault as I've had a bunch of other things going on in my non-domaining world that slowed my listing domains everywhere .. see my previous sale for more datails)


    That's when a funny twist of fate came along. A while back I remembered a book on sales discussed either on @DomainSherpa or on @Domain Shane's blog (maybe both .. lol). It was called "Never Split the Difference". I ordered it and it arrived a few days earlier. I didn't actually have time to read it yet .. lol .. but there it was .. staring me in the face forcing myself to think .. no .. this is a good domain .. if someone really wants or needs it, then under a grand is actually a good price for them .. and I really could use the money to start paying back my expenses from building my ever growing portfolio. So went online to grab a few comps for .co's and sticking to my guns I replied (48 hours later) with:

    "Hi again ____,

    Unfortunately the $900 is already well below the minimum threshold for a really good one word .co domain. Here’s an example of some similar .co sales:

    $21,000 - Mozart.co
    $20,000 – SpeedTest.co
    $18,000 – Airspace.co
    $15,000 – Vesper.co
    $15,000 – Republic.co
    $10,000 – Canopy.co
    $9,999 – Picnic.co
    $9,100 – Understood.co
    $9,000 – Sting.co
    $8,700 – Spectra.co
    $8,600 – Pinnacle.co
    $7,500 – Foxtrot.co
    $7,000 – Reign.co

    While Rewired /// dot /// co might arguably not be the best of that list, it certainly is not the worst. It’s a good strong tech term, and we’ve priced it for you 90% less than what those domains went for. The marketplace commission on the initial $1000 would have given us $850, so we can certainly go down to that, but below that is not something we would be prepared to do without at least doing some outbound marketing on the domain first.

    If it’s a question of current cash on hand, we could also do a payment plan via escrow.com, of an initial payment of $450, followed by 3 monthly payments of $150 (total $900). Although I’m not sure how much more it would cost you for that, and doubt it would be worth it.

    Is there one of these options that you would like to move forward with?"



    Shortly after an offer for the same $850 came through one of the market place platforms, soon after I also received:

    "Hi ___, happy to move forward? Thanks _"

    So I wrote back:

    "Hello again ___,

    Yes, everything is good, I had sent an email to escrow.com to figure out how to do the payments and how much extra it would cost.

    However, I have since seen your single-payment offer via sedo. Can I assume that to mean you've managed to secure the rest of the funds and would like to proceed in a single transaction? It's what I suggest as it makes it significantly cheaper for you and you'd get ownership of the domain much quicker.


    Let me know if you want to do the single transaction and I'll push it through escrow later tonight.

    Take care,"

    He replied:

    "Yeah, lets go for it thanks.....my FD is going to kill me, but hay u only live once. :)"

    Communication after that was more just the technical instructions and help I gave the buyer, and everything went through Escrow fairly quick. I was happy because after the exchange and Escrow fees I still ended up with about $1000 Canadian.


    Hope these details and email excepts help some of you. Note that the domain did not have a landing page. I didn't have any NDA on this sale, but obviously leaving names and complete URL out of the discussion out of respect to the buyer anyways! ;)

    Details on my previous sale of Bookworm // dot // co can be found here:
    https://www.namepros.com/threads/first-significant-sale-as-a-domainer.1015480/
     
    Last edited: Nov 7, 2017
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. Pierre Barnard

    Pierre Barnard Active Member VIP

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  3. creataweb

    creataweb Top Member VIP ★★★★★★★★★★

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  4. usernamex

    usernamex Wait For It . . . VIP

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    Congratulations! Great sale @Ategy.com and nice details of how it unfolded : thumbs up :
     
  5. saj110

    saj110 Established Member

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    Congrats on your sale @Ategy.com and thank you for sharing those detailed and important bits of information and transaction flow, 100% helpful and motivating too . (y):xf.smile:
     
  6. SamiLotvonen

    SamiLotvonen Business Member Business Account

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    Congratulations for your nice sale! :)
     
  7. Josytal

    Josytal Established Member

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    Congrats.
    Very informative. thanks.
     
  8. Furquah

    Furquah Established Member

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    Honestly, it's was you who had given me some chance to think about .co name and it was you who had told me once about my Rental/House dot co and it's got sold for $588 recently.

    You are real "Pro", whom any newbie should follow.

    &

    Hey,

    Congratulation on your sale. Hope it's not stop and bring more sales.
     
  9. EmotiveDomains

    EmotiveDomains Active Member VIP

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    Well done. Thanks for all the information.
     
  10. Gunjan Maheshwari

    Gunjan Maheshwari Established Member

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    Great writeup.. Congratulations on sale..
     
  11. Sub8Routine

    Sub8Routine New Member

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    Congrats and thanks for the helpful post!
     
  12. SamDam

    SamDam Established Member

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    Thanks @Ategy.com for the detailed information, it's very helpful, Congratulations on the sale.
     
  13. jideofor

    jideofor Active Member VIP

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    Thanks for the share. I wish people could share their sales process just as you have done here. It will help a great deal.
     
  14. varmuk

    varmuk Brandaly Business Account VIP

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  15. nbuzz

    nbuzz Established Member

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    Good sale, I have only really invested in .coms is .co the next best thing? bar .org's possibly?
     
  16. varmuk

    varmuk Brandaly Business Account VIP

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    Is this from close out ? if you can tell ?
     
  17. AIS01

    AIS01 Business Member Business Account VIP

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  18. MetBob

    MetBob Established Member

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    Congratulations on the sale, and thank you so much for the detailed account of how the transaction went. It is helpful to a lot of us (I am sure) who are just getting started in domain name investing!

    Bob
     
  19. 1Darko

    1Darko Established Member

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    @Ategy.com Congrats and thanks for the insights!(y)
     

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