discuss Blew a domain deal

[Arpit131]

I happen to blow a domain deal.
One of my hand reg names got an inquiry with an initial offer of $350.
I was looking for a quick flip and had a rough price point of around $1,000. I countered with $1,500.
The other came up to $600. I stood firm. They moved to $800 and later $900.
I was firm to sell it for four figures and hence, replied that I would sell for $1,000 and not even $999.

Don't know what went wrong and they denied.
Perhaps being flexible with your prices sometimes help. For a $100 and my mindset to flip it for four figures only, came in the way of the deal.

Have you had any similar experiences?

 

[gilescoley]

So when they denied, did you go back with "ok I will take $900"

 

[Arpit131]

So when they denied, did you go back with "ok I will take $900"

I did. But now, they don't want the domain. They went with a different name.

 

[gilescoley]

Are you sure it wasn't a scam, was it a legit business email address? Did you research who they were?

 

[Abdullah Abdullah]

if that was a hand reg and you couldnt gather a lot of information from the buyer then I would say 900 was going to be good but it appears your message of not selling it even for 999 was what put them off .

 

[doubleU]

The buyer may have being eying up a few domains whilst negotiation with you, other sellers may have came down in price quick enough for you to loose the deal.

Anyway, it's not a bad sign for your domain as there's clearly a demand for it so you will proberly get a second chance.

 

[Manik]

....
.... and hence, replied that I would sell for $1,000 and not even $999.
....

Don't you realize how arrogant that sounds?

 

[thekiller]

I would sell for $1,000 and not even $999.

I also lost a sale when buyer offered max $1K and I insisted on $1.2K.

Buyer never came back.

 

[trp3]

Nearly exact story happened to me few weeks ago, had an Afternic inquiry on broker basis, the interesting party was looking forward to immediately buy the domain from me for their desired price, but I was still pushing the numbers and my explanations back and forth, I honestly was really stubborn every time I got in contact with them – email conversations of this all took about good 2-3 weeks.

Well, there was a half of week or something of silence then, finally followed by a message from the broker saying that they are not interested in the domain anymore and had found some alternative address.

The funny part of this story is that the domain they wanted was a $0.01 .xyz handreg.

What I learnt from this? Don't be always greedy, especially when you are either way going to make a stunning ROI.

 

[ivey]

I agree that we have to not get too greedy.

But I also like end-users who know what they want. The, "I got options" stuff don't cut it with me.
Someone like that doesn't deserve the name and won't value it right. If I really wanted a name as an enduser and $100 was the difference, you better believe I would find a way to get it. Even If I have to ask the seller for a deal..If they ran, then feel no regret.. They weren't serious and don't deserve the name. Most names I sell have a website on it because I attract and deal with end-users who value the name and know they want it. Then I try to reach a price point that is reasonable. I think going from 1500 to 1000 is good. But, I think sometimes, we also can make alot more sales by focusing on good ROI instead of trying to get 4 figures for every name.

Leave the name at a buy now of $1088.00

 

[Name Trader]

I agree that we have to not get too greedy.

But I also like end-users who know what they want. The, "I got options" stuff don't cut it with me.
Someone like that doesn't deserve the name and won't value it right. If I really wanted a name as an enduser and $100 was the difference, you better believe I would find a way to get it. Even If I have to ask the seller for a deal..If they ran, then feel no regret.. They weren't serious and don't deserve the name. Most names I sell have a website on it because I attract and deal with end-users who value the name and know they want it. Then I try to reach a price point that is reasonable. I think going from 1500 to 1000 is good. But, I think sometimes, we also can make alot more sales by focusing on good ROI instead of trying to get 4 figures for every name.

Leave the name at a buy now of $1088.00

If I ever get told "I've got options" or similar negotiating tactics. I usually tell the buyer to go with one of their other options. Saves wasting your time negotiating in the blind. It almost never works out well. Which is why I adopted this strategy. Of course there could always be exceptions. But 95%+ of the time. That's what I tell them.

 

[pokainc]

I can say for sure this has happened to me at least 3-4 times.

Had a $200 offer , I countered with about $3500, they went up to $1000, I countered with $1800, thinking they would prob go up to $1200 or $1500 and just close the deal.. but after $1000 they just stopped answering (The name was worth more than $1000 so it's not all bad, but seems to be difficult to gauge random negotiations).

For most names, if the buyer reached $900 - $1200 it's a good idea to accept especially if it's a hand-reg.. with volume, over time, I'm sure it will be worth while.

It's difficult to have one strategy as once in a while, you'll counter and the person comes back with a $3500- 4k offer and messes up your thinking again.

 

[DanSanchez]

Don't feel bad. I've been burning through similar low-ball offers these past few months, don't sell if you don't get your number. Regardless of when or how you purchased the name. I realize this is probably against what most people tell you, but it's imperative you realize the value of the digital asset you own.

Every time a prospect walks away or fails to complete an accepted offer, I add 1 or 2 years to the registration, preferably 5 years. Show them you value the name as much as you claim you do! Freaking out and accepting an offer you previously declined devalues the domain in their eyes to the point of losing interest completely, and sometimes they were just testing the waters for another name like someone mentioned above.

This is why I consider secondary income sources invaluable, develop your top 5 domains over the next month and build to generate income. It's the only way we can remove our emotionality from the negotiations.

Good luck and keep your head up!

 

[Pierre Barnard]

Learning alot from this thread. Thanks guys,

 

[Jv1999]

And like the rest of us (at least some of us) are sitting here silently raging at everyone complaining because we've never had a high 3-fig offer :P

 

[Eckhart]

Don't know what went wrong and they denied.

You pissed them off pretty bad.

 

[hawkeye]

Bears get fat, pigs get stuck. (..oink oink.)

 

[Manik]

Bears get fat, pigs get stuck. (..oink oink.)

Acually the saying is, "Pigs get fat, hogs get slaughtered."

 

[hawkeye]

Acually the saying is, "Pigs get fat, hogs get slaughtered."

I know, but I heard it this way a long time ago, and it sticks in my mind.

 

[Eckhart]

Acually the saying is, "Pigs get fat, hogs get slaughtered."

It made sense to me @hawkeye, because the bears are stock market reference, bears being the sellers.. the real quote: "Bulls make money, bears make money, but pigs just get slaughtered!"

 

[jideofor]

Are you sure it wasn't a scam, was it a legit business email address? Did you research who they were?

lol... You do not seem to understand that some end user do like inconsiderable people. It makes them angry and why they declined when you adjust.

 

[E-Promote]

I was firm to sell it for four figures and hence, replied that I would sell for $1,000 and not even $999.

Two potential reasons (from what you presented) the buyer backed off here.
1. If you actually phrased your statement that way, it came off as stubborn and arrogant (power trip).
2. $1,000 is a psychological barrier. Sending a price of $975, even $995 will support less resistance.

 

[imadoer]

LESSON here . if the 3rd counter offer is close to what you are looking for take the dam money... rather loose 100 and make a deal then get stuck a domain i paid 8.99 for

 

[disaac81]

Maybe they weren't the right buyer for the domain?

If we sell to everyone who contacts us we would ultimately under sell our names.

 

[platey]

I happen to blow a domain deal.
One of my hand reg names got an inquiry with an initial offer of $350.
I was looking for a quick flip and had a rough price point of around $1,000. I countered with $1,500.
The other came up to $600. I stood firm. They moved to $800 and later $900.
I was firm to sell it for four figures and hence, replied that I would sell for $1,000 and not even $999.

Don't know what went wrong and they denied.
Perhaps being flexible with your prices sometimes help. For a $100 and my mindset to flip it for four figures only, came in the way of the deal.

Have you had any similar experiences?

i wouldn't worry about it because not selling it for 4 figures may be somewhat annoying but not half ss annoying as leaving money on the table selling it too cheap knowing its worth more that said 900 would buy some peach pre registered domain names at the mo