discuss Confidentiality SUCKS

[MapleDots]

Confidentiality Sucks

I have had 3 big sales at 75k each and in each case I signed a confidentiality clause which prohibited me from talking about the domain.

In retrospect I find this really hampers my domaining business because I cannot give examples of my big sales to prospective client. Since I specialize in a unique targeted part of the market I rely on sales statistics to justify prices.

So here is my dilema...

I am in the midst of closing my biggest sale to date and it is well over the 200k mark. The problem is they want me to sign a confidentiality clause. I swore I would never sign another one and I am sticking to my guns. I turned them down flat and said no deal.

Now I know you are all thinking that was pretty stupid but I don't think so. First off, I don't think I will lose the deal and secondly I need my sales stats to target other sales.

The biggest players in the business regularly publish their sales statistics and they become like gods in the industry. They sell a domain based on the fact they got huge money for previous sales.

Looking for some feedback here from anyone who has had some larger sales.

 

[MapleDots]

"The biggest players in the business regularly publish their sales statistics and they become like gods in the industry. They sell a domain based on the fact they got huge money for previous sales... " - 100% true!

By saying that you will get accused of wanting to become a god!

That is how one simple quote can be taken out of context.

Thank you for understanding what I was trying to post.

 

[kandyan]

use namebio for compareable sales

How on earth you going to compare.. if the sales are not reported??

high ticket sales are sales where there actually is no alternative for the buyer so why bother about comparable sales at all if they want the domain its you to buy it from

Most of the domains out there are not high value (Your's may be an exception) Exceptions are not the rule..

If you check NameBio for Media domains.. most of them are within xxx-xxxx range.. Except for NativeMedia which sold for 18k.. for me personally that was a valuable info..

Reported sales definitely helps the industry as a whole.. JMO

 

[imadoer]

Please let us know your biggest sale that's not under disclosure

 

[imadoer]

refer me back to post 1? I'm asking you what is the biggest sale you can disclose???????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????

 

[frank-germany]

Confidentiality Sucks

I have had 3 big sales at 75k each and in each case I signed a confidentiality clause which prohibited me from talking about the domain.

In retrospect I find this really hampers my domaining business because I cannot give examples of my big sales to prospective client. Since I specialize in a unique targeted part of the market I rely on sales statistics to justify prices.

So here is my dilema...

I am in the midst of closing my biggest sale to date and it is well over the 200k mark. The problem is they want me to sign a confidentiality clause. I swore I would never sign another one and I am sticking to my guns. I turned them down flat and said no deal.

Now I know you are all thinking that was pretty stupid but I don't think so. First off, I don't think I will lose the deal and secondly I need my sales stats to target other sales.

The biggest players in the business regularly publish their sales statistics and they become like gods in the industry. They sell a domain based on the fact they got huge money for previous sales.

Looking for some feedback here from anyone who has had some larger sales.

I am absolutely happy not to reveal
the exact domains of my xxx.xxx sales
not even of my xx.xxx sales

as that would only give ideas to competitors


-yes some of you, my friends are competitors -

do you want sales
or become famous

make up your mind

use namebio for compareable sales

high ticket sales are sales where there actually is no alternative for the buyer
so why bother about comparable sales at all
if they want the domain its you to buy it from

 

[frank-germany]

Why else do you think real estate agents publish ads of houses that are already sold? It is to show the consumer that the agent knows his stuff and can sell your house.

that is to convince sellers
not buyers

 

[Want2learn]

@MapleDots funny how one little comment about fame, and now everyone thinks you are on an ego kick.

If I were asked not to disclose a sale, I might agree because I am trying to get out of the red. Maybe most of us are there in some capacity. However, knowledge is power, and keeping sales private hurts the market value of most domains.

 

[d-e-x]

Confidentiality Sucks

I have had 3 big sales at 75k each and in each case I signed a confidentiality clause which prohibited me from talking about the domain.

In retrospect I find this really hampers my domaining business because I cannot give examples of my big sales to prospective client. Since I specialize in a unique targeted part of the market I rely on sales statistics to justify prices.

So here is my dilema...

I am in the midst of closing my biggest sale to date and it is well over the 200k mark. The problem is they want me to sign a confidentiality clause. I swore I would never sign another one and I am sticking to my guns. I turned them down flat and said no deal.

Now I know you are all thinking that was pretty stupid but I don't think so. First off, I don't think I will lose the deal and secondly I need my sales stats to target other sales.

The biggest players in the business regularly publish their sales statistics and they become like gods in the industry. They sell a domain based on the fact they got huge money for previous sales.

Looking for some feedback here from anyone who has had some larger sales.

Same problems here
Sold 2 Domains for some very nice $ but same as you - I signed a confidentiality clause.
This don't help you to build some name in this industry.



"The biggest players in the business regularly publish their sales statistics and they become like gods in the industry. They sell a domain based on the fact they got huge money for previous sales... " - 100% true!

 

[MapleDots]

@MapleDots funny how one little comment about fame, and now everyone thinks you are on an ego kick.

Yeah and I was not even talking about me, I was saying the big players are often revered as domaining gods. I took that from other posts on namePros, that was not even my expression.

It's kind of bothering me that regardless of how I try to explain it another person will post underneath accusing me of wanting to become one for ego. I think its because they are only reading the first post.

 

[MapleDots]

Same problems here
Sold 2 Domains for some very nice $ but same as you - I signed a confidentiality clause.
This don't help you to build some name in this industry.



"The biggest players in the business regularly publish their sales statistics and they become like gods in the industry. They sell a domain based on the fact they got huge money for previous sales... " - 100% true!

You get it because you are in the same boat as me.

 

[Want2learn]

Yeah and I was not even talking about me, I was saying the big players are often revered as domaining gods. I took that from other posts on namePros, that was not even my expression.

It's kind of bothering me that regardless of how I try to explain it another person will post underneath accusing me of wanting to become one for ego. I think its because they are only reading the first post.

Isn't it ironic? You are saying a big posted documented sale is great for the business. It helps everyone. It sets the bar, floor, and or ceiling for a domain. So your "published" remark about domain gods has set the tone for all who will come read the thread even though you have said otherwise a lot. Lol but god forbid your sale get published and set the market . . . If you get what I just said then you are definitely iNtuitive

 

[Smooth]

Many people on this thread aren't really "getting" this. I understand you @MapleDots. It's a valid concern. And, that's the right/proven/tested way to move up in this field. You could probably pitch that you'll do a PR for them regarding their acquisition of the domain, which would showcase them in good-light. Not sure if that would work though.

 

[.NJ]

Purchase price was a hand reg that I had the foresight to register.

 

[.NJ]

Off topic but I'm very curious.

Can you conduct your banking and get your tires changed at the same time?

 

[Ategy]

Purchase price was a hand reg that I had the foresight to register.

... unless we know the purchase price then the sale price is irrelevant .. lol. (Not talking about you specifically .. but just in general .. giving feedback to a (new) domainer based on how good their "portfolio" is is completely pointless unless you know both the purchase price and renewal costs (if premium)).

Hey hey .. I wasn't trying to infer you bought the domain at $199,999 to sell it at $200k! lol ... Was more just making a global point how even though I completely agree that "reputation for big sales" is a huge factor in the real world ... the real "skill" of a domainer should be assessed based on difference between buy and sale prices (and obviously a bunch of other factors including portfolio turnover, time spent working, etc etc).

Going even further .. the "reputation" of a domainer really shouldn't count for anything .. the only reason to pay a lot for a domain .. is because it's a good domain ... but that's a little too much common sense to make for an interesting discussion .. lol.

 

[Ategy]

... but I have had enough smaller sales of .ca's to make a good chunk of change.

Example
BestBuy.ca - Was bought for a small fortune from a car parts company
Walmart.ca
Yahoo.ca
Amazon.ca
Staples.ca
The list goes on and on

Are those actual examples of YOUR sales? Or were you just speaking generally? lol

I'm up the road from you in Montreal ... so I'm seeing the same thing.

.ca is used by the biggest players online when they need multiple sites for multiple countries because of inventory/shipping/content etc. Think like what you said with amazon.ca or google.ca

But I'm also seeing a lot of the smaller businesses going with .ca because the .com is gone or too expensive.

Local market is really different here because Montreal is more French than English (and the rest of Quebec is 90% French). So for those businesses that are Quebec specific without aspirations of selling outside Quebec, then it's MUCH easier for them to find a good domain (both .com or .ca) in French than in English.

There's a pretty big renovation store chain that has a TV commercial ending with a 3L .CO (bmr.com I think).

I've grabbed a few really good French domains .. but I'm trying to avoid very local because the French/English dynamic is really a mess when you're in a French market but a good portion of those people with websites aspire to have a reach far greater than just Quebec.

 

[campout]

@MapleDots I'm also curious what is your biggest sale you've ever made that you didn't sign a NDA on.

 

[imadoer]

no one is selling handregs they regged this year for 75k...

again @MapleDots you avoided my question. whats your biggest sale you can disclose.

 

[MapleDots]

Yes 5k,

 

[Giode]

I would say that unless you're a well-known person in the industry, it's probably better to not say anything unless you can divulge details. There's no point.

I don't like NDA's either. You know why? Because they are too often used as an excuse for not revealing details. Lots of folks in this business do it. Too convenient. I would never trust a so-called broker who couldn't provide actual data. I am surprised at how many actually do!

I have sales under NDA. I have many that aren't as well. Most of the biggest sales go unreported industry wide, and that is not only because of an NDA. It is because many prefer to keep this information private. Keep the cards close to their chest.

I had a large sale reported once when the buyer put out a press release. Big mistake! That buyer/company was inundated with emails from low-level domainers trying to sell their domains for months. Not at all uncommon with reported sales.

The bottom line: If you're making big sales and enjoying what you're doing, who cares who knows?

 

[main]

Just visited your site out of curiosity. Literally ~95% of your domains have been registered in the last 8 months. And you say you've had 3 sales of $75,000 (at least one of them a hand-reg) and a sale in the works for well over $200,000. Sounds right to me!

 

[frostify]

Consider that part of the value of their offer includes the value of privacy as a client. Perhaps in their eyes (example: $200K sale), perhaps the domain is worth $150K to them and the privacy is worth $50K to them, they may offer $200K knowing that privacy is something of high value to them and a factor included with their offer for a domain you own, especially once you enter the 6 and 7 figure ranges. Confidentiality has it's value.

 

[Lox]

A NDA helps a business protect its trade secrets, patent in process, inventions etc. Simple as that. We've been riding NDA for 29 years now. (outside the domain industry and 2% correlated)
--
If I understood well, you want to become charismatic. Because charisma is the key that can open many doors; but being respected for what you've done in the past is more important.
--
( Most of our business comes from existing clients and personal recommendation. When we recommend other businesses/persons, their reputation is seen an extension of our values.)

Sign as many NDAs and stick to the Trust Network.

Regards

 

[offthehandle]

HeHe, how right you are but you need to consider.....

Why else do you think real estate agents publish ads of houses that are already sold? It is to show the consumer that the agent knows his stuff and can sell your house. A domain property is no different and I prefer to display my own sales instead of someone else's.

Why do you compare yourself to all the other big sales hoopla? You are an owner of a property, and that property may be equal to some namebrand guy everybody posts info on here. More power to them and their success, all that does is announce the market is alive. Corporations don't read this forum and if they do, you are now revealing your position in a somewhat arrogant way. BTW: Real estate agents I have known on both spectrums- those who gloat, and those who are silent, btw driving around in Mercedes doesn't impress everybody.

 

[offthehandle]

I sent a PM, no issues I have a different opinion. Keep smiling, much success.