Afternic Reserve Auction?

[verbster]

Just got an $800 offer on a domain that had no reserve, minimum or asking prices, just a Make An Offer. No traffic to speak of.

Two questions:

1. If someone offers this amount out of the blue, does that mean they'll most likely go a little higher or a lot higher? Is it worth going with a counter-offer, or

2. Should I set my reserve to the offered amount and let it go to a seven day auction? Has anyone done this? Afternic promises priority exposure to domains with reserves met...but if no one bids, does that mean the $800 original offer must buy it, or will I be left holding an empty $800 bag?

I don't want to show the gambling domain during possible negotiations, but would like to hear your advice about it...PM me for the domain.

 

[floatingworld]

...unless this is a name that you valued more than $800 before the offer was made, then accept the offer + escrow fees....or push it to accept $1000 if the name justifies the increase. Don't mess about with the auction.

 

[movingconcierge]

1. If someone offers this amount out of the blue, does that mean they'll most likely go a little higher or a lot higher? Is it worth going with a counter-offer,[...]

Well, you have to ask yourself a few things first.

1) How long have you had the name?
2) How much have you invested in it?
3) If you are going to counter the offer, how much do you want?
3a) If it's less than 20% additional, how long would you be willing to chase it if the buyer gets spooked and walks?
4) Can you discover anything useful about the buyer?


My Opinion:
If you've had the name for less than a year and you regged it fresh or caught it cheap on the drop, $800 is a pretty damn nice profit...

If you paid a premium for it and have had it only a short time, you should probably wait for a BBD

If you paid a premium for it and have had it a relatively long time, you should cut your loses...you probably overpaid or overestimated the demand.

Good Luck

 

[AWest]

Hi Verbster,

If you decide to set your reserve price to $800, the member who made the offer of $800 will be committed to that sale if no one outbids him/her in the 7 day period. So you still get the sale, and the possibility of a higher bid during the seven day period that your domain gets Afternic's "Closing Soon" exposure.

If you would like more clarification on how this works, please feel free to PM me.

Best regards,

Amber West
Afternic.com