Blind offers: YUCK!

[skyraider]

Hey,

There are a lot of domainers who ask for potential buyers to make blind offers. Interestly, I would like to whack the same number of domainers who do so over the head with a bit of sense. Here are the reasons why you should name an offer range like "mid $xx" or "high $xxx":

1. You could be looking for $40, and someone could offer $400. That's a total ripoff for the other person.
2. You'll get more offers with an OBO price or a pretty specific range because people are not afraid of what I described in #1.

Please put a range if you're going to ask for offers!

Thanks.

 

[Keynes]

I agree that it helps facilitate most transactions, but there are cases in which specifying a range isn't the best idea. If you havea name that you like and are willing to hold on to but open up for offers, then there may be no specific range at which you want to sell the name. A lot of people list there names on Sedo with "make an offer". Why? Because getting the true value from a domain is finding someone who values the domain highly, and, if you specify a price, you may have constrained the transaction. So, while in many cases setting a range or minimum offer is a good idea in most cases, there is something to be said for an open transaction.

 

[skyraider]

I agree that it helps facilitate most transactions, but there are cases in which specifying a range isn't the best idea. If you havea name that you like and are willing to hold on to but open up for offers, then there may be no natural range at which you want to sell the name. A lot of people list there names on Sedo with "make an offer". Why? Because getting the true value from a domain is finding someone who values the domain highly, and, if you specify a price, you may have constrained the transaction. So, while in many cases setting a range or minimum offer is a good idea in most cases, there is something to be said for an open transaction.

Well, OK, but I'm sure it makes the buyer less comfortable.

 

[jamminsport16]

agreed. well stated thanks fastarcade

 

[-db-]

1. You could be looking for $40, and someone could offer $400. That's a total ripoff for the other person.

No, it's not a rip-off for the other person. If they were willing to offer $400, then it means they were willing to pay $400, and that's what the name is worth to them.

I understand your point, and I also prefer when people post prices, but it's wrong to say somebody is being ripped off when they willingly offer a price (that might be more than the buyer would have accepted). It's the buyers responsibility to make an educated offer, and negotiate from there. If he starts out too high, he has nobody to blame but himself.

I usually post prices with my names when selling to other resellers, but marketing to end-users is completely different. Negotiation can be a tricky thing, and you must develop certain skills and habits to be successful.

Negotiation.... a very important thing.

 

[armstrong]

1. You could be looking for $40, and someone could offer $400. That's a total ripoff for the other person.

If the buyer would have been willing to pay $400, but you specify an asking price of $40, then wouldn't you be the one getting ripped off?

I think it depends on the domain. If its something you're willing to hold on to for a loooong time (like a keyword dotcom), then the "make offer" option is best. If its just another 2- or 3-word combination that - for the intended use - may have an infinite number of other viable alternatives, then IMHO the fixed reasonable price is best for a quick-sale.

 

[DropLister]

i have emailed many a whois email, I ask for their asking price, and i get an email asking for an offer. Thats about when i stop. Im not gonna offer x,xxx when all they want is xxx, or i dont want to make an offer that is too low and completely offend the owner.

 

[skyraider]

If the buyer would have been willing to pay $400, but you specify an asking price of $40, then wouldn't you be the one getting ripped off?

Absolutely not. When the seller immediately accepts with no negotiation for a blind offer, it can be annoying because you know you've offered too much: there has been no negotiation.

Negotiation.... a very important thing.

Definately.

 

[JMJ]

If I gave prices to my end-users I would either never sell any because they wouldn't like my price or would have screwd myself out of some nice sales by pricing too low. If they are really interested they will make an offer and that gives you and idea where you can price it without running them off. If they don't make an offer their interest isn't that great to begin with so you most likely won't get too much out of them. My biggest profit margin name to date was from never giving any hint of my expectations. Every time the buyer sent an offer I would return with "Sorry I need a bit more." Eventually abit more met my comfort level and knowing where his comfort level was I asked for $500 more than his last offer and proceeded to tell him how he could complete the transaction like he had already agreed to the price, which he did. I probably could have gotten even more but does that make me a bad person because I had the name for sale on these boards for 1/50th of the price days before? No..

If I'm the buyer I know how much I can afford to get what I want or desire. If I can't get it for that price then I'll wait until I can or find something else. I would think most people are the same.

 

[Jammer]

I personally dislike make offers and will rarely if ever make an offer.To me it lacks professionalism.As the the owner of the domain,if you can't determine what your selling price is,then who the hell can?When was the last time you saw a real estate listing with a make and offer as a selling price?Rarely if ever...I know I've never seen one.
A listing is a simple yes or no question,don't make it complicated,especially for the buyer.Everyone knows that some negotiation is expected and most people set their prices accordingly.To set no guidelines in a starting price is simply absurd.
Yes,the market can be volitile,but as the seller it's your responsibility to keep on top of things and adjust your prices accordingly.
I think my response to make offers from now on may be :offer to seller...you pay me to take the name off your hands.....maybe they'll get the point.
My rant for the day

 

[wot]

i have emailed many a whois email, I ask for their asking price, and i get an email asking for an offer. Thats about when i stop. Im not gonna offer x,xxx when all they want is xxx, or i dont want to make an offer that is too low and completely offend the owner.

Why don't you turn that around and say in the first email "I am interested in $#$@#$.com, I can offer $xxx does that meet your requirements or do you have an alternative price in mind that we might reach agreement on?"

More likely to elicit an acceptable response JMO

 

[JMJ]

You can't compare domains and real estate. Real estate values are determined by the prices of sold homes with the same square footage + land value within the area of the home. The square footage price adjusts depending on a number of things but thats pretty much the determination of value. There is no way to compare one domain to another they are all different. It's been said time and time and time again. The only way a value is determined is what the seller is willing to accept and what the buyer is willing to pay.

 

[Jammer]

My point was this....people won't put a price on something they own,they don't know what they want for it,but they certainly know what they don't want for it....simply greedy and unprofessional IMHO and it gives every domain seller a bad name.

 

[JMJ]

Call me greedy but I have about 75 names which I don't intend to sell that will never get a price. But, if someone was to come along and wanted to buy one they better have the balls to make an offer and the wallet to back it up. I even list them for sale right along with all of the other names for sale on sedo etc. but if they make an offer and it's not a serious one they get a astronomical pricing reply or I ignore it altogether. These are names that I have personal value in and there are ALOT of those domains out there.

 

[Jammer]

Well good luck.I hope it works for you!

 

[JMJ]

My point was this....people won't put a price on something they own,they don't know what they want for it,but they certainly know what they don't want for it....simply greedy and unprofessional IMHO and it gives every domain seller a bad name.

So you think that BuyDomains.com doesn't give domain resellers a bad name because they put a price even if it is $25,000 for joeshmoe.domain and not negotiate whatsoever. Or do you think they would do much better by letting you set your price and be happy with that price.

 

[Grrilla]

Some names are easier to price than others. Some people are less decisive than others. Some are searching for the big fish or two, while others are looking to fill their nets w/ smaller game. People have different tolerance levels for uncertainty.

We all have some names that we feel are our brainchildren. We were the first to have the idea or, at least, the first person to stake out the internet rights for it. What's an idea worth and who is doing the buying? How big are the expense accounts? These, (generally, .com), names are the ones that I either want to keep open ended or place $xx,xxx tickets on them. But am I willing to turn away the $3,500 sale for this name? Hmm.. I don't know. Better test the waters first.

On the other hand, if I have a batch of names that I want to sell and know that there value is in the mid $xx's or $xxx's, (depending upon my target), it's a bad move to have a "taking offers" or "min. bid" sale and listing set prices would be conducive to sales.

 

[JMJ]

Every name I've sold for $XXXX if I priced I would probably price at $xxx on a site. In fact every name I've sold for $XXXX was priced on these boards days before for $XX. I would be shooting myself in the foot pricing names for end users to see and would have never made any money over the years.

 

[equity78]

I agree Michael, I have premium names that I want to hold that I think are valuable but I have plenty of average names that I know I want $10 or $50 for and will just list it at that price. I agree with others frustrating to see a taking offers on a 3 Character.net just price it IMO. A name like SIX.tv, a broadcasting company with a budget could pay $200,000 for that name(not saying they will ) I would not want to price It at $5000. AND I AM willing to hold so that's what makes the difference like others have said. A name I have that I love not saying its great But I love and would hold is NiceTrade.com, I think a brokerage firm(online trading) or AUCTION SITE could use. I could be wrong but don't care I will pay $6.75 a year for however long rather than sell for $100. But I think if you have 1000 names they all can't be that special to not have pricing. IMO

 

[.Mike]

Hmm, coming back to the real estate thing, the Scottish system is exactly that - prices are not specified. They ask for offers over xxxxxx, in some cases the property sells for 10% over, in others 75% over. Really that’s all we are doing when we list a domain and ask for offers - i.e. offers over $1.0.

At the end of the day, most stock markets are consumer driven, domains are no different - the stock value is determined by demand not by the seller. The seller has taken the risk of investment so why shouldn't they get the highest possible price for the domain. As we all know a domain to one person is worth reg fee but to another could be $xx,xxx++ (have a look through the appraisal forum).

The only way to determine true market value is by asking someone what is it worth (eBay is the obvious example of this). I suppose it all depends which side of the fence you are sitting (buyer or seller) but even with my buyer hat on I would love the seller to tell me how much they wanted, but appreciate that they probably won't unless they need to sell.

IMO