NameSilo

Doing the right thing - How I could have made $35,000 but decided to move on.

Labeled as discuss in General Domain Discussion, started by Arfy, Feb 21, 2020

Replies:
61
Views:
7,282

  1. 900Worldwide

    900Worldwide Sunday.info VIP

    Posts:
    3,741
    Likes Received:
    2,478
    The old owner was the one being sneaky, but I don’t believe any money would have changed hands..
     
    Last edited: Feb 22, 2020
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. stub

    stub DNStore.com PRO VIP ★★★★★★★★★★

    Posts:
    24,547
    Likes Received:
    9,868
    That's entire speculation. If that's how he became rich. It might have done :) He did after all open an Escrow transaction for it.
     
  3. poweredbyme

    poweredbyme Webmaster & Entrepreneur VIP

    Posts:
    956
    Likes Received:
    606
    More complicated hypothetical scenario:

    What if the offer was made by someone else (e.g. partner of former owner) ?
    OP wouldn't know the former owner was behind that offer.

    Declining a good offer is usually a bad choice.

    As to the moral part, let me share my own story. I sold a domain. 2 days later 50x offer came from another rmarketplace. I have never contacted the new owner or the person who made the offer, just logged in to that marketplace and deleted my domain there.
     
  4. youaintme

    youaintme Established Member

    Posts:
    315
    Likes Received:
    130
    WOW! Angel Domainer.
     
  5. Winterburn

    Winterburn Established Member

    Posts:
    98
    Likes Received:
    76
    I wonder why are people waving this off as an imaginary scenario. There were actual offers on the table and as a broker approached the previous owner, it should have been enough conviction for him to pull the trigger with the 35k.

    Arfy did not wait or checked out what would happen finally. He moved out of it when the possibilities were there. This, is the ethical part of it. If he was convinced that the deal would NOT go through and pulled out then it would be a different thing.

    As for people who are complaining about why he did not try to remove the old listing, Arfy has already mentioned that it was confirmed by the previous owner that the name was removed.

    This post has not made me a fan of Arfy, but I do not find it worth it to be a critic of what he has done and start bringing out unappreciative chain of thoughts. .
     
  6. Sutruk

    Sutruk Established Member

    Posts:
    389
    Likes Received:
    786
    He should have contacted the Marketplace asking to remove the previous listing, not the previous owner.
    Confirmed by the previous owner? What you have to get is the confirmation of the Marketplace.
    If you don't see the domain listed in your Marketplace listing accout, YOU KNOW the domain is not in your listing and it hasn't been removed from the previous owner listing. You don't have to get any confirmation from the previous owner to know this.
    The ethical part of this is that the OP started a fake chain of events making a $100k offer for a domain he already owns, and he already knew is not listed by him.
    And the fake chain of events has been continued in a higher scale by the previous owner, trying to sell a domain that he didn't own. When he got the $100k offer, then he approached the current owner with a $35k offer, thinking he would get $65k because of the fake $100k offer.
     
    Last edited: Feb 23, 2020
  7. xynames

    xynames XYNames.com PRO VIP

    Posts:
    3,929
    Likes Received:
    7,585
    Arfy’s describing taking “a $35,000 profit on the name” implies that he paid something for the domain. It was part of a cash + domains deal? Maybe we could understand the old owner’s willingness to pay $35,000 for it as well as his willingness to believe that someone would pay $100,000. for it if we knew what Arfy paid for it.

    As far as this general scenario, I have multiple domains that are in escrow.com holding services with the buyer paying monthly. For each of these domains, since the buyer hasn’t made the final payment yet and the payment plans extend out many months (up to two years), I keep them listed for sale at something like 30x the price the buyer is paying me. I do this partly because I want to keep the domain for sale exposure out there in case the buyer defaults. If someone genuinely wanted to buy the domain at that 30x price, which is unlikely, I’d go to my buyer and propose that we sell the domain and split the profit.
     
    Last edited: Feb 23, 2020
  8. Chetan

    Chetan Top Contributor VIP Gold Account

    Posts:
    1,677
    Likes Received:
    2,453
    something similar happened with me as well :)
    a friend who used to manage a part of my portfolio sold a domain for $4999 via his Afternic and told me that it was sold for $1500.
    I only came to know about it via Godaddy appraisals a year later
     
  9. Arfy

    Arfy Aphrodite.com VIP

    Posts:
    2,236
    Likes Received:
    1,217
    that's despicable! Guessing he's no longer your friend?
     
    Last edited: Feb 24, 2020
  10. Don Gondon

    Don Gondon Established Member

    Posts:
    553
    Likes Received:
    750
    And what if the GoDaddy appraisal result was a consequent sale and your friend really sold it for $1500?
     
  11. wwwweb

    wwwweb Top Contributor VIP ★★★★★★★★★★

    Posts:
    10,761
    Likes Received:
    10,756
    Poor management on your end, why are you using someone else's financial details, if they only manage your portfolio, they simply need to login, your financial details will submit payment to you.
     
  12. koolishman

    koolishman Upgraded Member Blue Account

    Posts:
    354
    Likes Received:
    490
    Depends on the level of friendship also.
     

Want to reply or ask your own question?

It only takes a minute to sign up – and it's free!
Topics / Tags:
NameWorth
  1. NamePros uses cookies and similar technologies. By using this site, you are agreeing to our privacy policy, terms, and use of cookies.
    Dismiss Notice
Loading...