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question Buying my first domain

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iritru

New Member
Impact
8
Hi all,

It would be great if you could advise me regarding the following issue -

I'm looking to buy my first domain. I have decided about the name I want and found the domain is up for auction. The seller asked for a minimum of $500. As there were no other bids, I made a bid of $500. He did not accept it and raised it to $2000.

The auction is open until the end of September.

So, what should be my next step:
- Make a bid for $2000? Now? Wait a while?
- Wait a while and make a higher bid?
- Contact him outside of godaddy?
- Any other tactic...?

Looking forward to hearing your thoughts!
 
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The views expressed on this page by users and staff are their own, not those of NamePros.
Which site did you find it up for auction on? If it was on GoDaddy, it may not have been an auction but actually been an offer/counter-offer listing with a minimum price.
 
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aramyus

Established Member
Impact
434
Are looking for a name for your own business or is it an investment ?
 
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iritru

New Member
Impact
8
Which site did you find it up for auction on? If it was on GoDaddy, it may not have been an auction but actually been an offer/counter-offer listing with a minimum price.
It was on auctions dot godaddy on the Bidding tab... could it not be an auction in this case?
 
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iritru

New Member
Impact
8
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briguy

Guru In Remission!Top Member
Impact
60,869
- Wait a while and make a higher bid?
Personally,, I would wait awhile and make a higher bid but then I wouldn't focus on one domain, I would be looking for other names that are just as suitable for your business.
 
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iritru

New Member
Impact
8
Personally,, I would wait awhile and make a higher bid but then I wouldn't focus on one domain, I would be looking for other names that are just as suitable for your business.
How long do you think I should wait? And how high should I go next time?
 
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briguy

Guru In Remission!Top Member
Impact
60,869
Not sure of your budget but
How long do you think I should wait? And how high should I go next time?
Personally, I would wait a few days and if no other bids, bid $550..
If other bid(s) just slightly higher than the other bidder..
 
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toughdomains

Top Member
Impact
1,127
I agree with @briguy slowly bid up. no reason to jump from $500 to $2k unless this is the one and only name you want and you have a short time frame.
 
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aramyus

Established Member
Impact
434
I think it does matter because you are in an emotional situation.

You should ask yourself this question: can I benefit more from a $2000 name to my business (that adds, credibility, memorability, branding or whatever) than invest in something else (new computer or whatever). Also, isn't waiting till october detrimental to your project ?

My experience with auctions is that they are rarely fairplay. And the context you describe make me think your seller is playing tricks. After you offer 2000$, he might very well change his mind again and raise his price because he has a fish. As a rule of thumb, to buy something on auction, it is better to decide quietly a maximum price, make sure there is no escape possible for the seller and wait the last minute to make an offer. You limit the risk the seller uses your big against you.

Rather than raising your bid, I'd wait the very last moment and offer a bit more.

I'll end with a suggestion: consider other names, set a deadline for your domain name acquisition and be in a position to choose between several options.

Many times I've searched domains names for a specific businesses, and I've never failed to find a nice domain myself simply by inspecting expired domains, cheap (and fair play !) auctions, or playing with prefixes and suffixes. It might not have been the nicest possible name, but unless you are in a well funded startup, you probably cannot afford.
 
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daica85

Owner of NameCab.comTop Member
Impact
4,838
If no one bid beside you, you can wait until the very last moment then raise your bid a little $550 or $600, then negotiate directly with the seller with more $100 or $200, I think that's suitable.
 
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iritru

New Member
Impact
8
If no one bid beside you, you can wait until the very last moment then raise your bid a little $550 or $600, then negotiate directly with the seller with more $100 or $200, I think that's suitable.
He already raised it to $2000...
 
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iritru

New Member
Impact
8
He already raised it to $2000...
He just got it back down to $500. Can he just keep on changing the price all the time?
 
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iritru

New Member
Impact
8
Just a quick question - Will have HAVE to sell the domain to the highest bidder in September or will he be able to pull it back?
 
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daica85

Owner of NameCab.comTop Member
Impact
4,838
He just got it back down to $500. Can he just keep on changing the price all the time?
You just keep remain your bidding around $550 or $600 and wait. At the same time, you inbox him to negotiate to raise more $50 or $100, if he want to buy maybe he will raise much more but don't reach $2000. If you're willing with that price, then accept him. Hope this helps.
 
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MR Harrist

Established Member
Impact
546
why not try with TM issue! maybe it can lower he's guts :D lol
Just saying !
 
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iritru

New Member
Impact
8
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MR Harrist

Established Member
Impact
546
trademark, its just for lowering his appetite! but I am sure soon or later he will findout, but if he see you desperate, he will eat you alive :), just make sure you not looks desperate to own that domain!

if he lowering he's auction, I think he have doubt whether the price to high or not! try to send him email or PM, and said, I only have $600, if you not accept my offer, I will find another domain!

just pray he don't know about adwords or market demmand and etc! cause If I were him, and got ext com, and have high searcher on adwords, believe or not, I will renew that domain for 5 years! just to make sure, ppl that want that domain, will have to wait for 5 years!(its just like saying good bye) :D lol
 
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Kate

Domainosaurus RexTop Member
Impact
21,730
Blackmail ? This can backfire badly. You don't make frivolous TM claims if you can't back them up.
 
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Jv1999

Wander Aimlessly: Redeemed Knight of the Exo-TowerTop Member
Impact
3,300
what's the domain name?

If you already own the trademark, it's GG for the seller.

people can give you better advice on value if you disclosed the name.

E.g.: if it's shop.com, seller won't take less than x,xxx
if it's JoremisBlanketPool.com, seller would be lucky to get 500. :)
 
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iritru

New Member
Impact
8
what's the domain name?

If you already own the trademark, it's GG for the seller.

people can give you better advice on value if you disclosed the name.

E.g.: if it's shop.com, seller won't take less than x,xxx
if it's JoremisBlanketPool.com, seller would be lucky to get 500. :)
I'd rather not disclose the name yet...
 
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WilsonM

Established Member
Impact
244
He just got it back down to $500. Can he just keep on changing the price all the time?

Looks like he will give in first :)
 
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biggie

GreenFriendly.comTop Member
Impact
15,204
don't bid anymore


wait until he lowers price
 
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