offers Dealing with very low offers: Flat out reject or offer/counter ?

[NYJimbo]

When dealing with a domain that you have up for BIN on a sales platform and that is priced below $1,000 and you get a pitiful offer like $50 or $100, do you find it better to just flat out reject and wait for a counter offer or to respond with a lower price than BIN ? I mean what do you find to be best response to the buyer on average.

I'm not talking about a hot or liquid domain, but something you think has value but does not look like big money.
This is also for a platform where you do not have the ability to talk to the buyer, but just do the offer/counter offer thing.

Any comments, ideas, etc appreciated.

 

[Ostrados]

recently I made $90 offer on a Sedo domain, it was just to open discussion with the owner not real offer.. he countered at $600k because he was annoyed at my offer..loool

the domain was two words not very special but nice name, but it has good traffic, I wanted it for the traffic.

 

[frank-germany]

recently I made $90 offer on a Sedo domain, it was just to open discussion with the owner not real offer.. he countered at $600k because he was annoyed at my offer..loool

the domain was two words not very special but nice name, but it has good traffic, I wanted it for the traffic.

I receive only $90 USD or 100 € or maybe 150 € offers at Sedo
and 50€ offer at my own market place

thats doesn't tell you anything at all

 

[viniproject09]

Just evaluate your domains well Before you sell it. While your domain is sitting and doing nothing . I recommend to install some kind application on it that help a niche industry related to its keyword.

 

[domainsnatcher]

Just evaluate your domains well Before you sell it. While your domain is sitting and doing nothing . I recommend to install some kind application on it that help a niche industry related to its keyword.

Do you mean parking? Care to elaborate?

 

[viniproject09]

Do you mean parking? Care to elaborate?

Hello, I recommend to get a app developed on a niche idea of domain. Target its niche industry platform . Small investment would make your more valuable. If you are lucky your application could go viral and make you millionaire. Business is gamble that you input some funds and wait it to grow. Thing is that if you keep your domain keep sleeping it wont make much returns campare to established website or app. If you name is too good then its a different story. You can just sell and get value for that domain.

 

[domainsnatcher]

Hello, I recommend to get a app developed on a niche idea of domain. Target its niche industry platform . Small investment would make your more valuable. If you are lucky your application could go viral and make you millionaire. Business is gamble that you input some funds and wait it to grow. Thing is that if you keep your domain keep sleeping it wont make much returns campare to established website or app. If you name is too good then its a different story. You can just sell and get value for that domain.

I like how you think. 100% agree with you. I always found it strange that most people here don't do anything with their domains. And it's not like parking really works anymore.

Do you have any success stories with turning your domains into businesses yet? Have you implemented this idea into any of your names?

 

[JB Lions]

Maybe already mentioned but I've cut down on low offers simply by adding minimums that must be met before offer even comes thru. I'm trying out Undeveloped and Efty now, easy to do there. I need to do that at Sedo, default is $90. Afternic, I just put $500 minimum on everything. With GoDaddy, just finished putting minimums at 4x what I paid for it. So when I get offers from GoDaddy, I know worst case scenario if I accept, I'll make at least 3x+ (minus commissions). I usually counter higher, every now and then I'll just push it to auction.

 

[MediaCode]

We test different portfolio-wide strategies every three to six months.

The best strategy so far in terms of profitability of our entire portfolio has been all names at BIN prices with no negotiations at all. It's the "take it or leave it" strategy.

Other strategies we have tested include:

– Putting all C and D grade domain names in our portfolio at BIN prices below $1,000 (usually $995 or $750) and all other domain names with no BIN price shown on landing pages with 'make offer' showing $1,000 minimum offer
– All domain names with no BIN price shown on landing page with 'make offer' showing different minimum offers (e.g., $1,000 or $5,000 or $10,000 or $20,000, etc.) based on our different valuations of each name
– Show BIN price on landing page and include 'make offer' showing $1,000 minimum offer
– Show BIN price on landing page and include 'make offer' showing different minimum offers (e.g., $1,000 or $5,000 or $10,000 or $20,000, etc.) based on our different valuations of each name

It's hard to beat all names at BIN prices with no 'make offer' available because buyers have no other options. No chance to negotiate. They can only look at the BIN price shown and decide to buy at that price or walk away. If you BIN price high enough, you only need one or two buyers to decide to buy at that price and you've paid for all renewals in your portfolio plus a profit. Yes, life is very quiet with this strategy but after two or three months go by, all of a sudden you get an email that says, "Congratulations! You sold XXXYYYY.com for $34,488!". We got such an email while standing eight people deep in an Indian restaurant's buffet line at lunch one random day.

For the past five and a half months we've been testing all 'make offer' with different minimums and no BIN price shown, and it SUCKS. So many unprofessional end user buyers being deceitful, lying about who they are, behaving nothing like they would behave if they were trying to buy or lease real estate from a property owner. Other buyers lying about their initial offer -- they'll enter the $5,000 minimum offer in the offer box and then in the comment box say, "My offer is actually $500. That's the most I am willing to pay." Why do business with liars and people hiding behind anonymity just because they can? We'll keep this test going until the end of the year, as planned, but we cannot wait to switch back to all BIN pricing – it's a much happier, more positive way to monetize your portfolio of domain names and it gets better portfolio results!

 

[Fancy.domains]

Personally, I always respond to low ballers. Often I include the lowest price I am willing to sell the domain for.

In about 19 times out of 20, they will not reply, or only with a sarcastic ”good luck” About 1 of 20 results in a sale. That is good enough for me to continue with this strategy.

 

[DN_Hunter]

I get quite a few lowball offers on a daily basis. I try to reply to all offers because you just never know what might happen. I usually include a comment that I understand they might not realize how some domain names are more valuable and can sell for 4/5/6/7 figures, and I include a link to the top sales charts from DNJournal (recent and YTD)

As mentioned above, most of the time there's no reply or the sarcastic "good luck", but once in a while a sale happens.

 

[maxtorz]

When dealing with a domain that you have up for BIN on a sales platform and that is priced below $1,000 and you get a pitiful offer like $50 or $100, do you find it better to just flat out reject and wait for a counter offer or to respond with a lower price than BIN ? I mean what do you find to be best response to the buyer on average.

I'm not talking about a hot or liquid domain, but something you think has value but does not look like big money.
This is also for a platform where you do not have the ability to talk to the buyer, but just do the offer/counter offer thing.

Any comments, ideas, etc appreciated.

If you don't have ALWAYS in your life you end up with NEVERS.
I always respond to all inquiries.
I always keep it professional NO matter what the prospect says!
I always follow up the $50 prospect , the $100 prospect and the $100,000 prospect.

Good luck.

 

[Asfas1000]

We test different portfolio-wide strategies every three to six months.

The best strategy so far in terms of profitability of our entire portfolio has been all names at BIN prices with no negotiations at all. It's the "take it or leave it" strategy.

Other strategies we have tested include:

– Putting all C and D grade domain names in our portfolio at BIN prices below $1,000 (usually $995 or $750) and all other domain names with no BIN price shown on landing pages with 'make offer' showing $1,000 minimum offer
– All domain names with no BIN price shown on landing page with 'make offer' showing different minimum offers (e.g., $1,000 or $5,000 or $10,000 or $20,000, etc.) based on our different valuations of each name
– Show BIN price on landing page and include 'make offer' showing $1,000 minimum offer
– Show BIN price on landing page and include 'make offer' showing different minimum offers (e.g., $1,000 or $5,000 or $10,000 or $20,000, etc.) based on our different valuations of each name

It's hard to beat all names at BIN prices with no 'make offer' available because buyers have no other options. No chance to negotiate. They can only look at the BIN price shown and decide to buy at that price or walk away. If you BIN price high enough, you only need one or two buyers to decide to buy at that price and you've paid for all renewals in your portfolio plus a profit. Yes, life is very quiet with this strategy but after two or three months go by, all of a sudden you get an email that says, "Congratulations! You sold XXXYYYY.com for $34,488!". We got such an email while standing eight people deep in an Indian restaurant's buffet line at lunch one random day.

For the past five and a half months we've been testing all 'make offer' with different minimums and no BIN price shown, and it SUCKS. So many unprofessional end user buyers being deceitful, lying about who they are, behaving nothing like they would behave if they were trying to buy or lease real estate from a property owner. Other buyers lying about their initial offer -- they'll enter the $5,000 minimum offer in the offer box and then in the comment box say, "My offer is actually $500. That's the most I am willing to pay." Why do business with liars and people hiding behind anonymity just because they can? We'll keep this test going until the end of the year, as planned, but we cannot wait to switch back to all BIN pricing – it's a much happier, more positive way to monetize your portfolio of domain names and it gets better portfolio results!

Thank you, very interesting.

Size of portfolio, if you can share ?

 

[MediaCode]

Thank you, very interesting.

Size of portfolio, if you can share ?

1,250 names, of which we sold 35 in 2018 for a portfolio sell-thru rate of 2.8%.

 

[Asfas1000]

1,250 names, of which we sold 35 in 2018 for a portfolio sell-thru rate of 2.8%.

Would you suggest putting up BINs with no Make Offer option ?