question Does it ever happen..

[topdom]

You have a domain, and you don't know what price to put on it, and you would be happy to take 1K, or even 300; but you feel it can sell for 10K, and you make the price 10K, and one day wake up and see it was sold.
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You may lose many sales because of this kind of thinking, but in total you may win although most of those bin's were totally unreaslistic.
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You can make a price 10K and be firm on it, and you look honest, and you make price 1K, and drop it to 100 and you look dishonest, scammer, ..Do endusers think that way?
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I think trying to convince doesn't work, but something else must work. Not sure what it is: confidence?

 

[lock]

I tried to sell a domain at auction a few times no reserve entry level and didn't sell and I didn't drop it. I then put it on back burner a while removed price and got an offer over 3k on it so.... anything can happen.

 

[Ategy]

The unfortunate truth is that the largest part of domaining is simply dumb luck and timing.

That being said .. the odds are seriously stacked AGAINST the average domainer and average domain portfolio.

Your job as a domainer is to chip away at those odds so that you're lucky often enough and at a high enough sales multiple to pay for the rest of your portfolio.

Because at the end of the day being away of the large luck element, it can help you focus on the things you can do to increase your odds just enough to be profitable in the long term.


To get back to your question ... there is no effective answer ... it might work sometimes .. while other times you'll definitely lose the sale.

Trying to figure out the "RIGHT" answer can be hugely paralysing when starting out as a domainer.

I've been there and it is frustrating and plays on your confidence.


But I can tell you that as you get more and more sales, that problem tends to melt away .. you just go with your gut .. and sometimes it works and other times it doesn't ... and in the end that's totally fine and part of the game ... but it truly sucks before you've become profitable or before you've made a few significant sales.


The main positive I can tell you is that your question and any confusion on such an issue is completely normal.

Focus on acquiring good domains and low prices and then price them reasonably. The rest is pretty much out of control ...

Also .. it often balances out .. if you price domains high you make more profit per domain but sell fewer domains ... price them lower and you sell more domains .. at lower margins. I suppose there are sweet spots to optimise the randomness .. but if you focus on the essentials that are tangibly within your control (namely getting quality domains for cheap), then you should come out ahead in the long term if you've build a good portfolio.


Depending on how many domains you own, you might also want used a tiered pricing structure .. it's easier to price your domains when compared to your other domains. Because truth is .. often time the same domain can be justified at $1000 by one person .. and at $10k by someone else. End users justifiably might have different levels of demand for the same domain.