NameSilo

BIN or Make an Offer option?

Labeled as discuss in General Domain Discussion, started by kite26, May 11, 2016

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  1. kite26

    kite26 Fearless Bird VIP

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    What option you prefer and why?Which are the pros & cons of each option?Which way can attract more buyers?

    Buy It Now ot Make an Offer aka To be or not to be?
     
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  2. nomen

    nomen Top Contributor VIP

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    I've always kept 98% of my names as BINs but just recently started to list 'em more and more as Make Offers. Have to say that I'm almost surprised how much offers I get now but then again my BINs are from quite high to crazy high.

    If I remember right, Sedo says that over 50% of the sold names are BINs @ Sedo... Dunno how much people follow Sedo price suggestions as they are pretty low for many still good names (and at those low prices they get BIN'd quite a lot by domainers, too, I think...) so that might be the reason for their figures.
     
  3. kite26

    kite26 Fearless Bird VIP

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    Sometimes their suggestions are fair.Sure, not always. I don't know if this is right (that's the reason i want discuss), but if you don't know how to BIN, then choose make offer option.
     
  4. stub

    stub DNStore.com PRO VIP ★★★★★★★★★★

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    I've started to list some of my domains with BIN instead of Make Offer prices (about 10% so far), since they weren't making any money with parking. I fear I won't get any offers for the same reason as @nomen states above. But at least I can begin reducing the prices after a few months, if nothing gets sold.
     
  5. mad409

    mad409 Always thinking outside the box! VIP

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    I like doing a BIN auction, with make an offer option available too. Who knows some one might make an offer slightly under the BIN which I may want to accept.
     
  6. GoKaizen

    GoKaizen Always be Learning VIP ICA Member

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  7. nomen

    nomen Top Contributor VIP

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    Don't have a big enough data set to prove this with hard numbers but I usually start with a quite high figure, say mid $XXXX, and then I reduce the asking price (BIN) little by little towards renewal date.

    As said, not sure, but it seems to work from time to time... I think that many people look for a domain name long and hard, going through a lot of options, back and forth, and if they see that some name that a week ago cost $4899, costs now only $3477, they might feel that they're getting a good deal (provided that the name was one of their serious options).
     
  8. GoKaizen

    GoKaizen Always be Learning VIP ICA Member

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    I find I get more offers with reasonable BINs. Worrying about reducing BIN prices sounds time consuming. I'd pick a price and stick to it.

    If I got a lot of offers on the same name I'd up the price.
     
  9. usernamex

    usernamex Top Contributor VIP

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    @nomen If you don't mind sharing, how do you keep track of reducing your BINs? And/or is it simple beacuse of the marketplace you use?
     
  10. biggie

    biggie GreenFriendly.com VIP ★★★★★★★★★★

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    some names i have at Sedo are set to "Make Offer" while others have BIN prices.

    my last three sales there were BIN priced.


    imo...
     
  11. Houssaine

    Houssaine Established Member

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    As I'm a newbie and still struggling to price my domains, the majority are set as 'make offer'. But I do have some at BIN.
     
  12. nomen

    nomen Top Contributor VIP

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    Well, I just open up all the marketplaces I have my domains listed on maybe once a month and adjust prices of about 10 names at a time so I don't have any special system for keeping track.
     
  13. DomainAgents

    DomainAgents VIP Member DomainAgents VIP

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    BINs are popular with lower priced names and can work as long as you are realistic.

    Also keep in mind that usually you can't pay more than $5000 via credit card, so if you're trying to keep things low friction (which is the point of BIN pricing), it's a good idea to keep your BINs lower than that.
     
  14. WatchDogue

    WatchDogue Top Contributor VIP

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    In recent months have revised most of my domains to BUY NOW pricing from MAKE OFFER pricing.

    Now stats show an up tic in visitors to a number of the BUY NOW names, including several new extension names.

    Also a nice quick sale on a long held domain soon after becoming a BUY NOW domain rather than remaining a MAKE OFFER domain.

    And yes, have received a few " offers " for BUY NOW names that previously went offer less as "MAKE OFFER" names.

    My " BUY NOW " prices are very realistic prices as determined by using similar name comps from a variety of resources.
     
  15. stub

    stub DNStore.com PRO VIP ★★★★★★★★★★

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    How do you get offers on BIN landing pages?
     
  16. Arca

    Arca Top Contributor VIP

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    Many places, like Afternic, allow you to set a BIN price and also accept offers.
     
  17. GoKaizen

    GoKaizen Always be Learning VIP ICA Member

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    Yup what @Arca said.
     
  18. frank-germany

    frank-germany domainer since 2001 / musician VIP

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    you need to be approved
    ask your account manager to get you set up
     

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