End your buy now pricing with 95, 99, 88 or 00?

Discussion in 'General Domain Discussion' started by hookbox, Jun 30, 2017.

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  1. hookbox

    hookbox Active Member VIP

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    Which have you found to be the most successful ending for pricing your domains?

    $2,495
    $2,499
    $2,488
    $2,500

    Buy Domains ends most of their pricing with 88 and so does Mike Mann (Domain Market). Mike Berkens (sold his portfolio to Godaddy for 35 million) also ends his pricing in 88.

    Huge Domains ends most of their names with 95. On the top two brandable marketplaces most of the pricing ends in 95.


    Which have you found to be the most successful ending for your prices based on actual sales data?

    Many articles have been written about this subject and here are a few links below.

    https://www.fastcompany.com/1826172/psychology-behind-sweet-spots-pricing

    https://www.allbusiness.com/why-99-is-the-magic-number-for-product-pricing-16745938-1.html

    https://blog.kissmetrics.com/5-psychological-studies/
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. Haris

    Haris Best Domainer Of The End-Times Business Account

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    I go for 99 because whenever and wherever I go for shopping, I always see almost everything priced with 99 at the end. That is obviously done to make the product look low-priced but as a buyer, I buy what I like and don't care whether it's 88, 95, 99 or 00.
     
  3. Asfas1000

    Asfas1000 Active Member VIP

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    I remember an old study concluded the best results were achieved using 97.

    I am using 95 and 88 but I don't have enough data to support my preference.
     
  4. biggie

    biggie Top Member VIP ★★★★★★★★★★

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    most successful are 00 or 50

    and

    sometimes 25 or 75, depending price


    imo...
     
    Last edited: Jun 30, 2017
  5. hookbox

    hookbox Active Member VIP

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    Interesting to hear. I would have never put 25 or 75 as my choices. 50 doesn't look or sound to bad.
     
  6. biggie

    biggie Top Member VIP ★★★★★★★★★★

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    25, 75 and 50 in 4 figure examples
    $1,525, $2,250, $3,275, $4,225, $6,650

    and five figures, just any number in front
    $21,525, $32,250, $31,275, $44,225, $86,650

    of course they may not sell for those exact numbers, but the counter offer might try to knock off the last 3 digits and to get price down to an even $X,000 or $XX,000

    imo...
     
  7. DefinitelyDomains

    DefinitelyDomains Business Member Business Account VIP

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    All of my domains are priced 00's. Do you think it really makes a difference?
     
  8. nomen

    nomen Active Member VIP

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    99 here for everything under $1k. Haven't tested anything but feels most common pricing in retail so people are used to it (is how I see it). Also use quite a lot price $2,250, for some reason. And $2,895.
     
  9. nomen

    nomen Active Member VIP

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  10. steitieh

    steitieh Top Member PRO VIP ★★★★★★★★★★

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    In the internet marketing world a study has been extensively done by late Cory Rudl and his colleagues saying the number 7 is most effective . $XXX.97 or $47 or $497 etc. but I don't think it would matter in domaining unless you have a portfolio or a store listing all your domains with a fixed price... maybe it would make a difference (not confirmed by me or anybody I know) - but sending out a one time offer or one domain offer at a time, I highly doubt it would make any difference whatsoever - in fact, if you're asking for $10,000 for a domain , I think it would like crazy going for something like $10,150.99 or $10,099 ... The closes I would go with is @biggie but again I would go for $XX,500.00 for 4 or 5 figures . but wouldn't do that with any bigger amount like $120,000 !!


    -Rami
     
  11. DOMAIN ILLUMINATI

    DOMAIN ILLUMINATI Owner of ▲ the most expensive domain of all time. Business Account

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    I prefer using ...00 or ...99 as pricing but I think ...50 can als be a good choice.
     
    Last edited: Jul 1, 2017
  12. hookbox

    hookbox Active Member VIP

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    The suggestions are all of the board so maybe it really doesn't matter. Thanks for all the thoughts.
     
  13. stub

    stub Top Member VIP ★★★★★★★★★★

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    I price most of my domains with 00 with the exceptions of Domain Offers from GoDaddy at $5k+, which I price at $4995>$4999 to make sure the purchases don't go thru Escrow.com. GoDaddy<>Escrow.com purchases have always sucked big-time for me. GoDaddy by itself is OK. As is Escrow.com. But as soon as it goes over $5k+, GoDaddy basically wash their hands with the transaction. Frequently leading to problems for me. Which has happened enough times, to have adopted this strategy.
     
  14. Michael

    Michael NameBio.com NameBio Staff PRO ICA Member VIP ★★★★★★★★★★

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    I read an interesting study at some point, can't find the link ATM. It said round numbers are better for impulse purchases, and specific numbers are better for researched purchases because they make the buyer stop and think why the number is so precise.

    Based on that, I would think round numbers are better for low-end domains ($1,500 vs. $1,488) because you want them pulling the trigger quickly not agonizing over it. And high-end domains should be priced specifically ($32,488 vs. $32,500) because you probably need them to dig deeper to justify the price, and sales at this level are not impulse-buys.

    But I'm not speaking from experience, I don't have a large enough portfolio of priced domains to test that. BuyDomains may have lots of names with very specific pricing, but if you look at their actual sales most have round numbers. Same goes for DomainMarket. This reply was already getting kind of long, so I decided to put it in a blog post instead with the actual data:

    https://namebio.com/blog/pricing-strategies-domain-names/

    TLDR; ending in 00 was the most likely sale price for both BuyDomains and DomainMarket by a wide margin. I even tried isolating sub $5k sales compared to $5k+ sales and the results were pretty much the same, so maybe it doesn't even make sense to price high-end domains with specific numbers.
     
  15. DOMAIN ILLUMINATI

    DOMAIN ILLUMINATI Owner of ▲ the most expensive domain of all time. Business Account

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    As an example,
    the most expensive domain of all time
    aka
    toptoptoptoptoptoptoptoptoptoptoptoptoptoptoptoptoptoptoptoptop.top
    doesn't even has a specific price - but at the end (when the price will be negotiated and the sale will happen) I asume it will most likely end with XXXXXXXXX99.99 USD just because of it's status ('9' = highest digit).
    On the other side, it's minimum bid is (only) 100.00 USD ('0' = lowest digit) which symbolizes that we always should knowww that also if we start lowww it's possible to get highhh - we just have to tryyy
     
    Last edited: Jul 6, 2017
  16. NameZest

    NameZest The best domain name BARN.ONE VIP

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    Normally anything but .00 implies sale or discount.
     
    Last edited: Jul 6, 2017
  17. hookbox

    hookbox Active Member VIP

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    That was very interesting. I could see someone overanalyzing a number that is too specific like $2,488 and wondering why it has that value.
     
  18. Asfas1000

    Asfas1000 Active Member VIP

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    I don't think we can draw a conclusion without knowing how many domains are priced in 00 vs 88.

    I mean, if they have 1,000,000 domains ending in 00 and 10,000 doamins in 88, of course the sales data will favpr the 00 sales !
     
  19. Michael

    Michael NameBio.com NameBio Staff PRO ICA Member VIP ★★★★★★★★★★

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    Search on their site for something like "test" and see how many priced domains end in 00. There's a reason they're known for the 88. Same goes for DomainMarket, just look at their homepage.

    Where the analysis really lacks is we don't know which sales are negotiated vs BIN, but only the companies themselves could answer that. Still though, knowing the price that got someone to hand over their cash has value whether or not it was BIN.
     
  20. Mister Funsky

    Mister Funsky Active Member VIP

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    Been selling one thing or another all my life...by far, without a doubt, ending in 95 has been the most successful whether in cents or dollars.

    With domains, it usually ends up being a 00 offer or final sale number...not enough data to make a determination as domains are a one off whereas other experiences (with exception of real estate or autos) have had many sales of the same item. (I've only had one unsolicited offer end in x99)

    So I agree with post above...end it in 00 for a 'hair trigger' type sale...requires less thought process.
     
  21. Howie

    Howie Business Member Business Account VIP

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    99, that's $99
     
  22. NameGeni.us

    NameGeni.us Restricted

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    I've noticed when you add a domain to Sedo.. it almost always recommends a price that ends in 49 or 99
     
  23. WatchDogue

    WatchDogue Active Member VIP

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    While I'm but a micro drop in the domain selling bucket I believe all of my Buy It Now priced sales have been priced and sold in the XX " 00 " format.

    And those sales goes back almost 19 years or so.

    When I used to negotiate with buyers the end two digits were probably all over the place as I believe I would ultimately accept one of " the buyers negotiated back/forth offers.

    For my Buy It Now names today I believe almost all end in the " 00 " format.
     
  24. EmotiveDomains

    EmotiveDomains Active Member VIP

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    I prefer using either 99 or 88, but it depends on the numbers preceding it.

    $888 looks a lot better than $899 IMO.
     
  25. MapleDots

    MapleDots Established Member

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    I like the round no bull way of pricing domains. 5k or 2.5k sounds more professional than $4,995.00.

    Then again, I have a big online store and everything is priced at $9.95, $24.95 etc

    On small ticket items $4.95 sounds better than $5.25. I mostly absorb the difference and drop it down to the .95
     

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