NameSilo

Add BIN or leave it blank?

Labeled as poll in Domain Beginners, started by Futurewizard, Jul 6, 2021

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483

  1. Futurewizard

    Futurewizard Established Member

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    Basic question. :wacky:

    I've removed my BIN prices for all except for my .nets (stinkers). I've heard conflicting advice on this. The risk of over/under pricing seems larger when using BIN. However, not adding it may decrease visibility/sales.

    When should one add BIN, and when should one leave it blank? Why?

    I know most will say "it depends", but let's say that you believe that the domain is worth 1k+. As a new seller, I want to test the waters and judge worth by incoming bids. However, if I'm losing by having removed my BINs, I'd like to know why that is.

    Thanks, and apologies if this thread is a dupe. I'm learning.
     
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  2. Future Sensors

    Future Sensors 78% of human domainers will be replaced by robots Gold Account

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    A short and definitive answer is not possible indeed, but in general you may perfectly use BIN for impulse buys up to $5k. And use Make Offer for higher valued domains, or for domains you're unsure of its value and want to decide about later.

    Some people (both buyers and sellers) love to negotiate, while others just hate negotiating.

    Being able to price for realistic value, combined with a healthy (optimal) STR is something you will only learn from experience. Even with Make Offer you can still undersell, or miss opportunities (like you said).

    These are just some quick thoughts to get further discussion started. How to price your domains is a huge topic. There are a lot of different domain selling strategies, all with their advantages and disadvantages.

    Personally, I'm using BIN for all price classes, combined with some Min/Floor settings for higher amounts only. I may not always be right in my pricing, but for the total portfolio I'm happy with STR and sales amounts.

    Sent from my mobile phone.
     
    Last edited: Jul 6, 2021
  3. VadimK Iberica

    VadimK Iberica Established Member

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    You hear lots of conflicting advice, because there are 2 different subjects involved:

    1. BIN vs Make Offer generally, on one platform. Here, in 90% of cases I advise you to make up your mind on price and put BIN. Exceptions: brandables, very expensive domains and maybe some trending names, where you are not sure about a value.

    2. If you sell on different platforms. Having BIN on three-foor or more different platforms may result in people buying from you at the same time (it happens with popular domains), then you have to go through the hussle of cancelling the deal with one of the platforms.
    In this case many setup BIN with one or two platforms, and go ''Make Offer'' with the remaining, just not to get into this situation, also not to update prices constantly on many platforms.
    Me personally - I sell on Epik (landing page) and Afternic - both BIN, but on Sedo I go ''Make Offer''.
     
  4. Future Sensors

    Future Sensors 78% of human domainers will be replaced by robots Gold Account

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    I forgot to mention that adding a BIN price on Sedo and Afternic will give your domains a lot more exposure in their MLS and premium partner networks. It's great to be displayed in the registration path of these registrar partners. When you only use Make Offer, your domain will most often not be visible there.
     
    Last edited: Jul 7, 2021
  5. comRaid

    comRaid Established Member

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    This is the main point. You are getting targeted advertising without any extra effort.
     
  6. Futurewizard

    Futurewizard Established Member

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    I've temporarily moved half of my domains to Dan as an A/B experiment - I am a bit concerned as some Dan parking sites fail to load with my ad blocker on (and a good chunk of people have them). Does Dan provide incentives for adding BIN?

    I do like Dan's parking pages a bit more, but Sedo is nice behind the scenes. It feels like it was built by domaineers.
     
  7. satsdifference.com

    satsdifference.com Love God Love Life

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    With afternic listed 25k then they negotiated better than I coulda asked.. shoot for the xx,xxx moon then through them can fall back on the stars
     
  8. Futurewizard

    Futurewizard Established Member

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    That's a great idea. I've updated all of my domains on Afternic with a reasonable Floor Price. I recently inquired about a regional domain and I was impressed with the Afternic broker and his tenacity.
     

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