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discuss BIN or Make an Offer option?

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kite26

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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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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.
 
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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.
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.
 
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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.
 
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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.
 
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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.

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).
 
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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.
 
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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?
 
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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...
 
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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.
 
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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?

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.
 
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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.
 
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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.
 
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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.

How do you get offers on BIN landing pages?
 
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How do you get offers on BIN landing pages?

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