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Buying a regged domain name...

Labeled as advice in Domain Beginners, started by malcolmlo, Oct 31, 2016

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  1. malcolmlo

    malcolmlo Established Member ★★★★★★★★★★

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    Hi Everyone,

    Long time lurker first time poster. I have been buying domains for over 15 years now. But not as a speculator, every domain I had ever purchased was regged new and was an idea of my own.

    That said I am currently starting a new business and found the perfect domain. As in, no I cant tweak it or anything like that, this is THE domain. I really need to purchase this one.

    That said, it is registered by someone using a whoisguard. It has been regged for 14 years. I have not gotten full whois history yet (have to pay for this). The site is parked on a domain parker with SEDO offer request of $500. I offered 120 at first, no answer. Then 400, no answer. I am getting nervous but i think the guy must have an outdated email in his whoisprivacy contact info or something. Or he just doesnt check/care about the domain.

    What do I do next? Should I look at domain brokers? Should I call the Registrar and tell them i want to buy the domain and would offer them a cut if they put me in touch with the owner? I already talked to ICANN's whois guard service that he is using and they said they cant tell me anything (obviously).

    What do I do next? Keeping in mind i'm not some big company with tons of $$. This business is completely bootstrapped so any funds I spend are my own savings and would take away from other areas of the business. In otherwords, do I NEED a domain broker? Can I afford one? Or should I do more research and digging and be my own domain broker, to investigate and find the owner. Time is also somewhat of the essence here too as I am launching the business within the next 2-3 months.

    Thanks,
     
    Last edited: Oct 31, 2016
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  2. tvanrijt

    tvanrijt Top Contributor VIP

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    Welcome to the forum!

    First question: Did you put a whois offer of $120 and $400?

    If he has it on "Make offer" with minimum $500 on SEDO, I assume the price he will sell is at least $2000 or more. The Make offer of $500 is to keep lowballers away (people who offer $50 for all valuable domains) and get the conversation going with people who are actually interested in spending.

    Since you need the domain and are willing to pay $400, I would say make an offer of $500 on SEDO (assuming you can miss the extra $100 for this domain of course) and see what he counters with. You can explain this is the most you can pay, but if you are not willing to pay 4 figures (which is understandable if you are just on your own starting a business), I sadly think you will have no luck and need to look for alternatives.

    Hope this helps, sorry if I am the bearer of bad news. I could be wrong of course, so let me know how it works out.
     
  3. malcolmlo

    malcolmlo Established Member ★★★★★★★★★★

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    It is a good domain, short and perfect for my business. I would pay in the LOW x,xxx range. OK I will try offering 500 and see if he answers. Maybe thats why he didnt answer me before, but I would expect he might have acknowledged the previous bids. My thinking was if he is not answering at all for 2 weeks then maybe he is not actively receiving notifications/emails on this domain.
     
  4. HotKey

    HotKey Made in Canada VIP

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    If the name is that important to you, offer more than what his minimum is, not below it! At least give the guy (or gal) incentive to consider your offer.

    You could always put a note in along with your offer too, asking what his price point is, and whether or not he'd be willing to meet your budget.
     
  5. tvanrijt

    tvanrijt Top Contributor VIP

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    If it is a really good domain (I have no clue at this point), the guy will get a lot of offers for it. Therefore, he might choose not to reply, even though he saw your emails. Always use a tool like Streak to check if your email gets opened (although through whois privacy this might not work all the time, no idea really).
     
  6. Yuri Kt

    Yuri Kt Top Contributor VIP

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    Look for the domain on other sites like Afternic. You'll may find listing with the BIN price.
     
  7. malcolmlo

    malcolmlo Established Member ★★★★★★★★★★

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    I guess i was trying to get a deal.

    SEDO "stats" as follows:
    61 visitors per month, Listed at Sedo 2014, 7 offers


    I guess that is 7 offers since it was listed in 2014? Seems like the guy is holding onto it, or that he might be less likely to let it go for "cheap".

    So if his offer is 500, and I really want this domain but i dont want to overbid/overspend as little as possible. What should i offer next? My last offer was 400, should i go to 800?

    Thanks,
     
  8. malcolmlo

    malcolmlo Established Member ★★★★★★★★★★

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    Checked. Not on afternic. Any others I should check?
     
  9. malcolmlo

    malcolmlo Established Member ★★★★★★★★★★

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    So I'm thinking about hiring a broker to help with this. Just evaluating this option. One thing I dont like about the broker idea is: They charge a flat fee (fine), and a comission of final sale price (not fine). If I am hiring them to get the domain for the cheapest price I can, how are they incentivized to do that when they get paid more for a HIGHER final sale price rather than a lower one??
     
    Last edited: Oct 31, 2016
  10. tvanrijt

    tvanrijt Top Contributor VIP

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    If you would like to hire a broker, you can always post a request here on namepros.

    You can list your own conditions and see who replies to your offer. For instance: Broker wanted to buy a domain, fixed price $xxx if domain is bought within my price range.

    Beware that a lot of people might jump on that bandwagon, so I would ask for previous sales as a broker. This immediately rules me out as a broker, as I have never brokered a domain :)
     
  11. malcolmlo

    malcolmlo Established Member ★★★★★★★★★★

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    Yah was thinking of going with an experienced broker firm like godaddy or domainbrokers, but i'm not sure if they will do stuff that I cant do on my own. I suppose they can also give feedback on what they think might be an acceptable budget, but if they are getting paid on comission then of course they would push me towards a higher budget.
     
  12. ultradog

    ultradog Established Member

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    I'd bet the owner's email is fine, but he doesn't answer anything below what he posted as his minimum.
    If you must have this domain, your offer should be at least that. Then he may respond. Try that first before going for a broker?
     
  13. DomainVP

    DomainVP DomainVP.com VIP

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    Pay it, and move on.

    You are wasting valuable time by playing a negotiating game.
     
  14. Kate

    Kate Domainosaurus Rex VIP ★★★★★★★★★★

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    The whois privacy address should normally forward to the registrant E-mail. But I know that NC is on the Enom platform and a lot of mail coming from their servers will be flagged as spam and never arrive. That could be the problem.
    Before you raise your offer, make sure you have a valid contact address. Right now you are shooting in the dark.
     
  15. decode

    decode Established Member

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    I have a few tools if you want me to help you find the contact email or phone number pm me the domain and I can look into it tomorrow.
    You could also contact the registry and tell them you want to buy the name or call Sedo they will be able to help broker it since they have the name and therefore the owner as a client.
     
  16. malcolmlo

    malcolmlo Established Member ★★★★★★★★★★

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    Good point, how do i know if its going through. And I'm using a gmail at the moment to stay anonymous (i dont want to give any hints on my plans to unecessarily up the asking price).
     
  17. deez007

    deez007 The More I Learn The Less I "Know" VIP

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    I think if he has 7 offers already and he has turned them down since 2014 then maybe you should decide on how much you are willing to pay for the domain (it's clear you really want it) then approach him with ur best offer, tell him that this is ur absolute best offer and that you are a start up.
     
  18. malcolmlo

    malcolmlo Established Member ★★★★★★★★★★

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    Is that not the opposite about how normal negotiation works? Start at your highest price? Then I have no wiggle room...
     
  19. deez007

    deez007 The More I Learn The Less I "Know" VIP

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    Thats exactly why I said I think IF this is a domain you want...then decide what the most you are willing to pay is and then make him an offer. This is a domain you want to use for your business...if you really want it badly them make him ur best offer.You could go back and forward negotiating but I can tell you now, if he has turned down 7 offers and his minimum is $500 then expect to pay $upwards of $2000-$3000.... you said you are willing to pay LOW xxxx ...to me that means around $1000-$1500 maybe a few hundred more....so your best offer is likely on the lower end of the scale his price expectation.

    If it was up to me and If it was a domain I really wanted for a business and not for resale...I would go in on my best price and get the domain. (obviously using his minimum requested price as guideline)

    That's just me, doesn't mean I am right nor does it mean I am wrong. Just my opinion....

    Your money, your time, your choice.
     
  20. korganian

    korganian Top Contributor VIP ★★★★★★★★★★

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    I agree with deez007.

    Decide the maximum amount that you are willing to pay. Offer it to him and explain that it is your maximum and final offer that your budget will allow. Domain investors really appreciate people who don't waste our time with lowball negotiations on high quality domain names.
     
  21. garptrader

    garptrader Top Contributor VIP ★★★★★★★★★★

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    Seven offers could theoretically come from one individual unsuccessful negotiation though more likely two or three. I would suggest to make the first offer one to show the seller you are serious about acquiring the domain but still leaves a little in the tank as the seller will likely counter. I often ignore what I view lowball offers - no response because the offer is so far below what I would consider selling the name I view it unlikely a sale will occur. The seller will counter but at some point you will have to communicate this is your final offer. If the seller's expectation is beyond your budget you may have to consider alternatives. However, if you believe the domain will be a great brand for your business, don't limit your business' prospects with a crap domain. A poor location can kill a retailer or restaurant's success. Your domain name will appear on business cards, online and print ads, and social media accounts. It is your online business identity. A solo startup may not be able to shell out $50k for a domain name, but just consider it an investment in your business - as it will be used to promote your company for years. Best wishes.
     
  22. malcolmlo

    malcolmlo Established Member ★★★★★★★★★★

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    Thank you, makes sense. I definately cant shell out 50k right now but this domain name is my brand exactly. I'm hoping he wouldnt put a min offer of $500 and expect 10-20k for the domain. But lets see. I just offered 700. I think max I could go would be 2,000. Any more than that and I'm starting to get real nervous about the next few months as I need that money to stay afloat while I build the business.

    This is not a fly-by-night idea but a real business i have been working on as a pet project for a few years. I am now rebranding it (hence new domain, website, etc.)

    The domain is 6 letters long. So its a beautiful short domain.

    I definately appreciate the importance of a great domain, being somewhat of a domain hoarder myself over the years. Let's see if he answers at 700 I really hope so!
     
  23. WatchDogue

    WatchDogue Top Contributor VIP

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    If the name was listed at Sedo just 2 years ago, in 2014, the owner or owner's rep is likely keeping up to date with offers as they arrive.

    Sedo will send out " offers " received to the owner's email box and no doubt would be aware if their emails were bouncing back for some reason. And Sedo will " follow-up " if offers sit without a response for a while from the owner.

    One of the reasons I've changed most of my names on Sedo to " Buy Now " from " Make Offer " is to avoid receiving so many offers less than the minimum offer I would consider to sell the name.

    Glad you are going ahead and bumping up your offer to purchase and hope soon enough you can secure the name you need to rebrand your project!
     
  24. malcolmlo

    malcolmlo Established Member ★★★★★★★★★★

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    Still no answer on my 700USD bid. Maybe you guys are right I should just go straight to 2k. But then if he asks for 3k i'm screwed. Maybe its better to start at 1500? then if he counters with 2500 or something I can say 2k final.
     
  25. Kuffy

    Kuffy Name Stag VIP

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    I read the posts here, and I think I might try a slightly different approach. The suggested methods are best, but as they don't seem to work, try this.

    Register the name with an xyz extension, you can get this for a couple of cents. Put a mini-site on it that appears to be promoting low value items. Write to the email addy, and say that as you haven't received a reply, then you have had to go with a not so good alternative. Include a unique image in the email, and check your server stats to see if it gets any views. that will tell you if the mail has been read. You can say that you are still interested in his name, as you think it would be better in th email.
     

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