Advice on negotiating

[wren]

I have a .com name that I have owned for approximately 2 years now and have yet to do anything with it. Lack of time being the main reason. It was just renewed.

I recieved an email from someone wanting to renew the expired name and offering $500.00 US to do so.

Now the name is an 8 letter.com and is a proper name (person or city -english)
I am not a regular domainer so any input/advice would be appreciated.
How do I respond?
Where can I get an accurate appraisal?
Is it customary to expect your first offer to be accepted?
Anyone know of some recently sold 8letter.coms of proper nouns?

Thanks

 

[gazzip]

If they have offered $500 straight off the bat "it may" be worth alot more.
Try posting the domain name in the appraisal section here - it's free and there are members here with loads of experience, keep in mind that most appraisals tend to be for reseller value as end user sale price is even harder to estimate.

http://www.namepros.com/domain-appraisals/

At the end of the day a domains real value is what someone is willing to pay for it. Good Luck

 

[fonzie_007]

My guess is that it could be a fraud. There is a guy that emails lots of people when they reg or renew a domain. Does he ask for an independent appraisal?

 

[gazzip]

My guess is that it could be a fraud. There is a guy that emails lots of people when they reg or renew a domain. Does he ask for an independent appraisal?

maybe - Good point, there are alot of appraisal scam emails floating out there !

 

[wren]

Not asking for independent appraisal. His request seemed simple to the point and has personal info attached. He does request a response, which I have yet to give him.
I was thinking along the same lines as Gazzip, that possibly it might be worth more than the offer.
Is it appropriate to ask why he wants the name?

 

[DomainSlayer]

If you want to sell it send a pm to me and if it's a descent domain I might offer more for it.

 

[gazzip]

I would try and find out any info you can about the potential buyer - but more importantly the "possible" value of your domain.
I personally would not ask why they wanted it but that's up to you of course.

You could try searching through www.DNJournal.com to see if there have been "similar sales" during 2004 & 2005 - Please note that most of them listed are sales OVER $10,000 and are obviously the better end of the market - but they also list other lower sales but you would need to spend some time looking through.

I feel one of the best ways to put a "potential value" on a name is by making good "comparisons" of previous sales - but that's all it is - a comparison, there are no set in concrete formulas to follow I'm affraid

You may own a Gem - or a $500 name :lol: Which is still nice if you paid $8 for it. Post it in the appraisal section is my best suggestion.

You can PM me the name and I can do a few checks for you - I am not looking to buy it.

 

[X_GuardiaN_X]

DirtBike.com sold for 75K, I remember the owner of it was posting here asking for advice.

 

[gazzip]

DirtBike.com sold for 75K, I remember the owner of it was posting here asking for advice.

It was also sold to a friend/colleague of someone on here I beleive - I still think he would of got alot more from Yamaha - Honda or Suzuki
Incidentally - it is now posted as the top sale for the week at dnjournal - It was third but I don't know what happened to the other two that was initially at the top.

 

[smub]

well i'd go with np appraisal forum also as others said there are alot of people out there sending spam emails with a nice portofolio of theirs (fake) so better watch out

yes you can ask them why they want it, but hold on a week to get enough advice and then make your decision

 

[JMJ]

Respond with $2500 or so. I always respond 5-10 times initial and negotiate from there. If he asks why you let it expire tell him you didn't know it was up for renewal.

 

[holeinone]

Same here, ask at the higher end of the price and negotiate downwards...

 

[budget]

always counter with an OTT number, in this business $500 is nothing unless you can sell in volume IMO.
only monkeys buy with peanuts.