question Advice on first domain name sale

[justbazzar]

Hi,

I am a complete noob but am finally in my first negotiations with a buyer for one of my domain names! I just don't know anything about what domain names are worth and if the offer is fair or if I am being undercut big time. To me $7000USD is a whole lot of money!

The domain name is NakedHub.com and the buyers "final" offer on the domain is $7000USD

The buyers first offer was $2500, then $5000 and now he is more firm at $7000USD

Would you's take that for the domain?

 

[Ted.T]

Does your buyer ask for an appraisal?

 

[Pierre Barnard]

Hi @justbazzar and welcome to NP! May I ask how he "knew" about the domain. Did he end up on your landing page? or did you do some outbound marketing?

 

[DnFolk]

i see there is Cn website there of same name, buyer could be chinese. $7K is a great deal for the domain, just accept it.

 

[Nerevar]

Take the offer now, it is a really exceptional offer for this type of domain.
Two more things you need to remember for your first sale: 1) Never pay for appraisals or any other "certificates", that is a known scam and 2) If you are selling outside of marketplaces like Godaddy, Sedo or Flippa who have their own Escrow service, then use Escrow.com (but not Paypal).

 

[justbazzar]

Yes, that is right DnFolk, they are the buyers offering me that amount. I had no landing page and did no outbound marketing, I think it is just a massive stroke of luck. I originally did not have the domain set to private, so they found my name through whois and sent me a message on LinkedIn asking if the domain was for sale. At this time I wasn't even sure how to go about selling the domain.

They seem to really want the domain, so I think I had the power of asking for above typical value as they have already established the brand "NakedHub" using the .cn domain and would not want to get a different .com domain and have to build their brand image all over again.

It's so weird as I thought I bought domain drop thinking I could get nice offers because it is more a porn domain, but the buyers are not even in the porn industry!

 

[justbazzar]

Thanks for the tips Nerevar! I was actually considering getting an appraisal, but now won't waste my money. I was looking into using Escrow.com for the sale, can't trust people these days if you give them any possibility of being able to just steal the domain.

 

[justbazzar]

Hi Ted,

The buyer did not ask for an appraisal. But I don't think they are concerned on a market valuation as they have already built a company around the "NakedHub" brand.

 

[Ted.T]

Hi Ted,

The buyer did not ask for an appraisal. But I don't think they are concerned on a market valuation as they have already built a company around the "NakedHub" brand.

There is a well-know appraisal scam that offers good money but asks for a specific appraisal. So, if they didn't ask for an appraisal, and even contacted you through LinkedIn, I think they are the real buyers. Congrats!

 

[Namestein]

Take the money!

 

[Fuadiansyah]

Congrats for your first sale @justbazzar...
How long did you hold this domain? and where did you purchase it?
I am also a noob btw...

 

[internext]

Nice sale... Get it done by escrow and have the buyer pay the fees 100%

 

[Kuffy]

Let us know what you think of the new Escrow.com if you decide to use them.

 

[hookbox]

Don't listen to any of this bad advice. 2 minutes worth of research shows that Naked Hub just got 33 million dollars in funding 27 days ago. They have money to burn so hold out for a much bigger offer.

Companies that get a big round of funding like this get itchy fingers to start spending it and this is a name that they really want and I'm sure their investors want also. Hold out for a bigger offer.

http://www.mingtiandi.com/real-esta...m-investment-in-co-working-startup-naked-hub/

 

[internext]

Wow @hookbox ... nice catch!!!!

Now the question becomes... can this thread be deleted or can we all eliminate any specific domain or entity references? If the OP decided to hold out for big money and this thread is found in its current state, it could be seen as a demonstration of bad faith and lost to UDRP.

USE CAUTION - once this thread is indexed the OP is potentially screwed if he holds out for a big payday

 

[Fuadiansyah]

Don't listen to any of this bad advice. 2 minutes worth of research shows that Naked Hub just got 33 million dollars in funding 27 days ago. They have money to burn so hold out for a much bigger offer.

Companies that get a big round of funding like this get itchy fingers to start spending it and this is a name that they really want and I'm sure their investors want also. Hold out for a bigger offer.

http://www.mingtiandi.com/real-esta...m-investment-in-co-working-startup-naked-hub/

Wow you really hit the jackpot...

 

[internext]

Wow you really hit the jackpot...

Not if we dont all delete specific references to the domain and that entity and their funding ASAP!

The other consideration is that not all offshore companies buy the com if they are only marketing locally if the price gets too high. In this case they probably want it. But keep that balancing act in mind too.

With this new knowledge in mind I think Id ask them for a phone call and tell them its for sale for low to mid six figures... once this thread is scrubbed or deleted

 

[daica85]

Congrats! However, always beware of scam on all your steps.

Good luck to you,

 

[justbazzar]

Hi mods, as reported, please delete this thread. Or all references to the funding, entity and domain please

 

[usernamex]

@justbazzar - I was just about to suggest that to you! - Good Luck with Sale and stick around

Post an intro here so you can keep us updated
https://www.namepros.com/forums/networking-meet-and-greet.49/

 

[justbazzar]

Will do!

 

[Doughmange]

Lots of dumb luck going around.

There was a domain sale where a guy sold a $25k trademark and didn't even know what a purchase agreement was.

Now look what we have here. A "negotiation" with a Chinese company who just received millions in funding, who want's a the NakedHub.com name/brand that screams porno.

Tank an amount that makes you satisfied, and move on.

 

[hookbox]

@justbazzar

There are now probably going to be many members private messaging you telling you to let them broker the deal for you. Don't do it. Contact Andrew Rosener @ http://www.mediaoptions.com/ or https://pa.linkedin.com/in/mediaoptions and explain to him the situation and have him broker the deal for you. He does this on a daily basis and knows how to get someone to believe that they need to spend $50,000 on this domain. He is a hard ass and will make it happen. It seems like you were happy getting $7,000 for the domain but a skilled broker will get you 10 times that so it's worth the added commission. Understand that this is not your skill set and don't continue to negotiate because you could easily lose the deal. I do not know Andrew and have never dealt with him but I am confident he can make this happen.

I would not give this advice on a smaller deal but on a deal that has the potential to be really large it is worth letting someone with the correct skills handle it.

Kickbacks welcome for the good advice.

 

[Doughmange]

There are now probably going to be many members private messaging you telling you to let them broker the deal for you. Don't do it. Contact Andrew Rosener @ http://www.mediaoptions.com/ or https://pa.linkedin.com/in/mediaoptions and explain to him the situation and have him broker the deal for you. He does this on a daily basis and knows how to get someone to believe that they need to spend $50,000 on this domain. He is a hard ass and will make it happen. It seems like you were happy getting $7,000 for the domain but a skilled broker will get you 10 times that so it's worth the added commission. Understand that this is not your skill set and don't continue to negotiate because you could easily lose the deal. I do not know Andrew and have never dealt with him but I am confident he can make this happen.

I would not give this advice on a smaller deal but on a deal that has the potential to be really large it is worth letting someone with the correct skills handle it.

Kickbacks welcome for the good advice.

That's just selling pipe dreams.

Millions of investment dollars does not always translate to a huge spend for a domain name; no matter how much of a 'hard ass' one 'broker' is.

Hi mods, as reported, please delete this thread. Or all references to the funding, entity and domain please

I don't think any of it should be 'deleted' or 'cleaned up'; this whole thread is an excellent learning tool for the community.

 

[internext]

@Doughmange
It does not need to be deleted but it DOES need to be cleaned up. If you were the buyer and the seller suddenly hires a broker or starts confidently asking for a lot more money, you wouldnt do a quick google search of the name to see what comes up? They didnt get that big funding by being lucky. If this thread comes up in its current state, how much is a UDRP?

You are correct. Companies get big funding because, amongst other things, they spell out a budget. This requires good negotiation to get to the facts. That is why I also suggested a phone call. Not many people are good at bluffing spontaneously. The OP is almost certainly negotiating currently with email written by committee on the other side. And while the budget for .com can be increased, I'm also concerned that if their marketing is limited to that region, the.com may not be seen as a necessity if the price gets too high.