End user want to buy my LLLL.com need advice!

[Stargazer]

I got contacted by a Chinese company that will change it's company name soon and they want my LLLL.com. The name is not considered premium in English language. It contains only consonants. The company have a annual revenue of about $5 - 10 Million USD. The person that mailed me is the CEO secretary.

I need some helpful advice from anyone that have been in this situation and can give me insight on how to best move forward.

How high should my initial offer be?

Cheers!

 

[ecalc]

...The company will be renamed soon they claim...

I smell a rat tied to an appraisal scam. Either that or a buyer who is rewriting the rule book on how to negotiate. "We are changing our name, would you like us to bend over and hold our ankles?" Let's go with the long shot that the buyer is sincere. You can gauge their commitment to exact match acronyms by their current business name and domain name. A matched set? Shoot for the moon. "We are not motivated to sell this name but we may consider offers that blow our socks off blah blah blah…"

 

[xman]

I recently sold one of my domain for $18K and I was contacted by a broker. The domain I sold was hand regged back in 2007.

I asked him to make an offer. He got back to me and told me that he's offering me a good amount and told me the the offer was $10K. I responded that the amount was too low and told him that my price is between $16K - $20K but "get back with me either way" (i said this because if the owner will only pay $10K i would have still sell the domain). He told me that he will talk to the company owner and get back with me. The following day he called me back and offered me $18K. I told him "Done" and he responded that was quick so I told him I gave you my price range and your second offer was reasonable. After we closed the deal I asked a little more info. about the buyer. The compaby is only worth in high $xxx,xxx not a million dollar company.

The letter quality, Premium vs non premium is not the issue here since the domain has a special meaning and value to the company that want it as they will change their name to this exact domain name!

Your statement is clearly that preminum or non-premiun is irrelevant. Your domain has meaning to this company so premium and non-premium is not an issue here.

The only advice I can offer you is negotiate reasonably.

 

[richface]

Selling domains for high profit is also heavily based on Luck, I know people in this business who have been in the game for years and Never sold a domain over 1k so just be careful. My advice is this, It is absolutely imperative to get this company to make the first move and I repeat do Not!
get too excited and name a price first as this will weaken your position.
No one on here can tell you how much to counter just use common sense if their first offer is a $100 is highly unlikely you be selling this domain for i.e 20k set a price in mind and stick to it.

 

[bulkdomainz]

just keep in mind that even if they have a lot of money it doesn't mean they are willing to spend a lot on a domain. some are but more aren't.

Contacted one of these companies rich enough to apply for their own $185k gtld about one of the names in our portfolio recently. They were interested enough to hire a broker to negotiate with us. Broker said their maximum budget was $350! Couldn't believe it!

@ OP: Let them make the first offer, then you counter-offer if not satisfactory. Deal through Escrow so you don't end up being out of domain and money!

 

[DU]

Either that or a buyer who is rewriting the rule book on how to negotiate.

Actually, they copied BMR.co's playbook.

At least they are Page 1 Entry 1 for BMR.

 

[maksimfa]

Few things to think about...

If the company is just using the website as an online brochure... it just might be a fun toy for them... if the company does business online.... then they need it. Find out.

Ask them why are you looking to aquire the domain and how do you plan on using it? Let them know you were thinking of developing it, so want to make sure they would get good use out of it, otherwise you will just keep it.

As far as revenue.... if it is a law firm... well 50 mil is big money depending on margin. 50 mil revenue for a grocery store, may mean a few hundred k in the pockets. Try to find out who the company is currently and what their business is.

Do your homework.

 

[NLP]

Any updates on this deal? I also dealt with an end-user inquiry two weeks ago, and sought advice just like this. In my case, it's a .TV and the IT director of a well-known political outfit in town left a voicemail. He claimed to be from a web hosting company, but the company he named is tied to a political newspaper/site. The guy's LinkedIn page shows he works for publication, not the web hosting company.

Both companies are under the umbrella of a large media conglomerate that owns 8 television stations and a variety of other businesses. I know the publication brings in at least $15mil a year, but the parent company is worth much more.

However, I wasn't able to get them to make an offer first. I brought it up, but they responded with, "We're not quite sure how to value it quite yet." Then they asked ME to name a number.

So I did, because I thought insisting on an offer at that point would seem silly. I threw out a number, the guy said, "Ok, I'll run this up and get back to you." Since then, they've visited my site a few times, but I never heard back either way.

I agree with the posters that recommended finding out as much information as possible, including if they happen to own the LLLL in any other extensions.

In my case, this company acquired "KeywordTV.com" in June, and mine is the .TV. If they're launching something new, they definitely need both. Information like that can work in your favor, although you don't necessarily have to tell them you know (after all, you're trying to appear like an unmotivated seller).

To the OP, good luck! The advantage is all yours since they contacted you first. Please fill us in on how it goes. I think negotiation is a real skill, and one that I'm certainly trying to get better at.

 

[Semtex]

In my experience, they will probably pay you 50%-100% more than what their initial offer is. If they offer you $5,000, counter with $10,000 and go from there.