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Domain King Sells GoBet.com for $850,000 USD

Labeled as sales in Domain Industry News, started by Robbie, Dec 21, 2020

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  1. Robbie

    Robbie RobbiesBlog.com VIP ★★★★★★★★★★

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    Rick Schwartz aka The Domain King has just announced the sale GoBet.com for $850,000 USD

    Reading Rick's tweets, it looks like this started as a $70K offer and is now in Escrow for $850K - It took 18 months to complete but as Rick has said many times patience is king in these domain name sales.

    GoBet.com will rank as the 2nd Highest Sale of 2020!

    Congratulations to Rick on his latest sale!

    Check out RobbiesBlog.com for more domain name news and breaking stories...
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. Kingslayer

    Kingslayer Top Contributor VIP

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    Great sale, thanks for the info.
     
    Last edited: Dec 21, 2020
  3. Mister Funsky

    Mister Funsky Top Contributor VIP

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    Thanks for the information...great sale! Hope everyone takes note of the beginning offer and end sale price. All domainers need to understand the value of each name and hold out for top (reasonable) dollar.

    Way to go Rick!
     
  4. Welberch

    Welberch Restricted (50-70%)

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  5. Amar D

    Amar D Established Member

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    Rick Schwartz aka The Domain King is a real king. He has saved my ass once, as I needed quick cash, but he overpriced my domain and bought it from me.
     
  6. Kingslayer

    Kingslayer Top Contributor VIP

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    I’m not just talking about Rick here, but any domain investor who’s made it, I’ve seen them talk on social media what people should and shouldn’t sell for and how much you should ask. It’s easier for them to ask for inflated prices, as they’ve already made their millions, 1 more million on top of the $8 million they already have in their bank won’t enhance their life in any way to what it was the day before.

    But If a company puts a high 5 or 6 figure offer on the table for a domain to a family from a low/middle class background who are working 50 hours a week in an average job and struggling to feed their family, it’s very hard to say no and ‘HOPE’ this company will come back, there’s always that chance they won’t and then they’ve lost a potential high (life changing) amount.

    I’ve always looked at domains like the TV show ‘deal or no deal’ do you take the £75k offer for your box or do you carry on and ‘hope’ you get the £250k, but if you carry on there’s always that chance you could lose it all.

    I feel people just need to do what’s right for them. $850k is right for Rick for this domain, fair play to the guy, but that $70k may have been right for another owner and they shouldn’t criticised for that like some people do on here with some sales, you always get people commenting saying “buyer got a steal” “should have sold for more” sometimes you need to just say ‘well done’ regardless as people need to do what’s right for them and their own financial needs.

    I love hearing about $50k sales that’s changed a life more so than millionaires making more millions, as much as I’m pleased for them too doing that too, I just feel those big sales (but not millions) that’s changed a life matters much more.
     
    Last edited: Dec 21, 2020
  7. Mister Funsky

    Mister Funsky Top Contributor VIP

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    Of course.

    But I get so many emails from people wanting to liquidate because they are against the wall with reg fees...but just 6 months prior they were happy they sold a pronounceable 4L .com for 500 when it clearly should have been upper xxxx. I think a lot of people get caught up in the excitement of selling and forget the art of negotiation.
     
  8. Sutruk

    Sutruk Top Contributor VIP

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    Amazing sale! Congrats to Rick and thanks for sharing!
     
  9. DaaZ

    DaaZ CRM manager @ DaaZ.com ICA Member Gold Account

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    Congrats to Rick , one more nice sale from Rick :)

    @Kingslayer
    Very well said . It all depends on the personal circumstances / risk one can take. Fully agree with you on this point.
     
  10. Way3

    Way3 TheMainDomains

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    100 percent this. Well stated.
     
  11. AEProgram

    AEProgram Top Contributor VIP Blue Account

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  12. NickB

    NickB Wales.org VIP

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    anyone know what he paid he for it?
     
  13. MarkedMarket

    MarkedMarket Established Member

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    He hand regged it in 1998 for $35.
     
  14. NickB

    NickB Wales.org VIP

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    Very nice.....thanks
     
  15. alcy

    alcy Top Contributor VIP

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    wow nice sale

    us small fish often complain of tons of cash lost in sales failing cause we are patient and countering offers... so I can only imagine how many millions this guy lost in failed sales...and in being patient...
     
  16. TheBuyerz

    TheBuyerz Established Member

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    He posted about it before the sale:

     
  17. Michael M

    Michael M Top Contributor VIP ★★★★★★★★★★

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    All big fish were small fish at some point. Sales/success at any level deserve credit where credit is due.

    The decisions you make can determine your future. Rick's success was seeing the inherit value of domains and stocking up on them when most people didn't. He continues to buy to this day and spends much more now per domain the he used to have to. To me - this says he still sees value, sees it increasing, and continues to double down. 20 years from now we can debate if that was smart - but he continues to put his money where his mouth is and it has paid off thus far.

    Some people make good decisions at the right place and the right time and go far. Their success should not be discredited just because they made it - but studied upon as to learn to better yourself.
     
    Last edited: Dec 21, 2020
  18. alcy

    alcy Top Contributor VIP

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    true.. but the thing about fish is that while all big fish once were small...not all small fish will once be big hehehe

    cheers
     
  19. NickB

    NickB Wales.org VIP

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    But.......every small fish has the chance/opportunity to become a whale...

    Just needs belief, hard work, dedication, drive and a smidgen of intelligence
     
  20. Kingslayer

    Kingslayer Top Contributor VIP

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    Yeah fair play to anyone taking risks and putting their money where their mouth is. Rick certainly does that, so you have to give him credit.

    Best of luck to him and all of us here, as we are all invested in domains.
     
    Last edited: Dec 21, 2020
  21. alcy

    alcy Top Contributor VIP

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    but not also a time machine?
     
  22. topdom

    topdom Top Contributor VIP

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    I wonder what happened in that 18 months. Something like this:

    -70K
    =7 figures only
    -200K
    =Won't go below 1M
    - silence
    =silence
    =well it is the end of the year, and everything is getting cheaper nowadays, so will take 925K. limited offer
    -850K, valid until 2021
    =ok
     
  23. Michael M

    Michael M Top Contributor VIP ★★★★★★★★★★

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    Ah, but then we would all go back to the same time and the opportunity would not be there because everyone else is. :xf.grin:

    What we need is the vision to see the opportunity in the current time. Then the dedication to stand behind that vision until it comes to fruition.

    I ponder daily on what is here right now that most others are not seeing. I have yet to have the "ah ha" moment that I have conviction will send me to the next level - but I have watched too many others go by in the past that I should have seen/did see but didnt act - that I hope to not let that happen too many more times before I find "my time."
     
  24. alcy

    alcy Top Contributor VIP

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    well said. visionaries are like genius. they always get rewarded... but at same time we all know how rare genius is.

    p.s. obviously I meant a time machine just for me ... ;) instead of buying names in 1995ish I was wasting time being sysop of some bbs... not so genius I know
     
  25. Michael M

    Michael M Top Contributor VIP ★★★★★★★★★★

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    Ahhh... BBSes! I miss those times. We used to have "bashes" where we all met up. Was cool times.

    I was busy writing code for a network to "compete" with the internet and connect BBSes and building out a modular BBS system that would allow anyone to assemble their own. (think wordpress+plugins in the bbs world)

    We have to miss the mark a few times to find the right one.

    Come late 90s-early 2000s I was buying and selling domains - but was selling them at cost and making money on the development for someone else. I made other's rich - myself a decent living - but missed the mark there as well.

    Watching and participating in the evolution has been a blast though, and I even if I am at this level the rest of my life - I can't say that I am in need - or that I have to achieve more. It would just be fulfilling to hit the bullseye before I am done - to know I did.
     

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