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First $XX,XXX domain negotiation, advice needed!

Labeled as discuss in Domain Buying and Selling Discussion, started by roy7777, Dec 28, 2020

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  1. roy7777

    roy7777 Established Member

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    Hello everyone,

    I purchased a domain name in October for around $2,300, a week ago I received an email from a GoDaddy Domain Broker with an offer for $5,000, I've rejected this and asked for $13,000, the agent has come back with an offer today for $7,500 and says that this is the buyer's budget limit.

    Do you guys recommend another counter offer in this case or can that scare the buyer away? Do brokers give up after 2 bids? Any input will be appreciated as this is my first large domain negotiation, thanks!
     
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  2. tiletalk

    tiletalk Established Member

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    I believe with godaddy brokers the buyer pays $7500 + godaddy fees? so you are getting $7,500 net.

    It is up to you how you wish to proceed really! you can go back with $10k offer and they might accept or you may never hear from them again? go with your gut. new year new start maybe?
     
    Last edited: Dec 28, 2020
  3. Bima Priyo Sembodo

    Bima Priyo Sembodo Upgraded Member Gold Account

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    Congrats for your first Offer if i were you i will sold it at $7500 its good money then for you too
     
  4. wwwweb

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

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    Well you have to remember the buyer has to pay the commission to godaddy, so if you ask $8000, that is like $10000 to the buyer , give or take godaddy current commission
     
  5. NameJi

    NameJi The Domain Lover VIP

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  6. M Usman

    M Usman Established Member

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    I think the offer is very good but the point is if you receive a big offer just after a week so it means that domain have a lot of potential to multiplies the ROI.
    Just a suggestion 👀
     
  7. theodore_zhou

    theodore_zhou DNN.ME,WCC.ME,VXDF.COM,TJVQ.COM,ZYHY.COM for sale.

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    i think your asking price is very reasonable considering you paid 2.3K for it.
    i think you can insist what you want,do not be too soft at the beginning.
     
  8. Jeffrey

    Jeffrey Top Contributor VIP ★★★★★★★★★★

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    Counter with 10,000. If you don't hear from them again. Wait for the next offer (from another buyer).
     
    Last edited: Dec 29, 2020
  9. Pierre Barnard

    Pierre Barnard Top Contributor VIP

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    If you need the money, take it. If not, be patient...
     
  10. Revisiting

    Revisiting Established Member

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    Well your confident buy at $2,300 tells me you know the value. Personally if I was looking to move it - I'd wouldn't try exceeding 10k asking (It's just a border line)
    I think you you could ask 9k - your not going to scare anybody off your already into serious money (and desire to own) That pretty much stays open and live whatever the immediate outcome
     
    Last edited: Dec 29, 2020
  11. karmaco

    karmaco Top Contributor VIP

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    Since we don’t know the name this is all speculation. The name could be worth far more. If I paid $2300 for a name I sure wouldn’t part with it for $7500. Thats no tiny investment.
     
  12. Joe Nichols

    Joe Nichols Common sense consultant VIP

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    I second this. If you're confident enough in the quality of the name to pay 2.3K for it, then 7.5k should be viewed as a quick flip at wholesale cost.

    If you know the name is good, hold it and wait for much more. If you think you overpaid when you bought it, take the 7.5k and make more informed purchases next time.
     
  13. alcy

    alcy Top Contributor VIP

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    remember buyer could know what u paid it...if some public auction...in which case he may conclude ita good profit for u and move to another name

    a lot of lost sales and roi around...its up to u if u can afford risk of losing this roi..

    gl
     
  14. Skyvisum

    Skyvisum Top Contributor VIP

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    I have turned down $7000 and made $15,000(Told Godaddy broker I wanted $15,000).Also turned down $10,000 and told broker to get up to $15,000 and I got $12,500 .Nothing to be scared about if you have guts.Buyers also told broker that was their limit.

    If I paid as much as you did for the domain,wouldn't sell for low $$,$$$.Aim higher. Total cost of the above mentioned 2 deals cost me less than $200.🙂,all sold this year.

    You can reach out to the to top sellers on namepros in pm. Check the reported sales to know who .Don't miss out selling too low.

    Just my opinion.

    Best of luck .
     
    Last edited: Dec 29, 2020
  15. Mytz.com

    Mytz.com Top 4L [email protected] ieie.com CuTu.com NeSu.com QAMI.com PRO VIP Gold Account

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    A: congratulations!
    It depends on the situation,
    This is going to be analyzed in terms of specific domain names,
    Is it the terminal that buys the domain name? Or investors like us?
    If it's a terminal, do they have a lot of choice in the domain name?
    If you ask for more, the buyer may give up the domain name
     
  16. blogspotter

    blogspotter Top Contributor VIP ★★★★★★★★★★

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    Depends on your situation, really.
    If you need the money to buy 3 more similar domains for the same price range, I would go for it.
    If you have the budget to buy more domain without selling it, you should hold it. You will also have learnt a good lesson in negotiation.

    You should have countered like, "similar names regularly sells for 50-60K and that you are looking for 45K."

    Then their limit would have increased. You have sold yourself short by saying you want 13K.
    But since you already offered 13k, be adamant and get at least 10K

    Without knowing the name, we can't say for sure, like others have said, because we often overpay in the auctions, but I am hoping it is a great name.

    Good luck either way.

    That said, for regular new investors like us, spending 2 K on a name is a suddenly regretting and getting a quick ROI is tempting.. But most of the Big sales happen when people learn to say No, but again it depends on the name.

    Just my uneducated opinion.
    Many times I bid in good auctions till 2-3K and then I drop off simply because I suddenly lose confidence it being able to sell them for 30-40K
     
    Last edited: Dec 29, 2020
  17. Skyvisum

    Skyvisum Top Contributor VIP

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    Last edited: Dec 29, 2020
  18. winst

    winst Established Member ★★★★★★★★★★

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    Here is my advice: do your research, try to guess who the buyer might be, have a number in your mind based on the "brandability" of the name, not based on if you think the buyer can afford!

    I had a 4L .com that had an offer at $10k in 2018, I walked away. I've got an offer at $12k in October, I walked away again. GoDaddy came back with $24k as the best and final offer. I told them I had plans to use it and showed a website in progress. The buyer bought it for $40k.

    If you can demonstrate that you have a legitimate reason for the asking price, most buyers will pay up.

    For me, because it was listed on Afternic, GoDaddy took 12% commission from the final price.
     
    Last edited: Dec 29, 2020
  19. AEProgram

    AEProgram Top Contributor VIP Blue Account

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    Did you pay 2300 at auction? If yes than it means there is a big enough demand at wholesale to pay 4 figures that if you can hold onto the name a lot longer to get a higher amount.

    If you paid for it privately it is difficult to give you advice on this. The majority of domains will never get a single offer even for 3 dollars. The tiny percentage of domains that do get an offer will get one offer every few years (maybe). Only a fraction of all really good names get offers a few times a year.
     
  20. xynames

    xynames XYNames.com PRO VIP

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    It’s not a $xx,xxxx negotiation unless both sides are offering five figures.
     
  21. DigitalRoar

    DigitalRoar Investor & Creator VIP

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    If you paid that much it's probably another domain investor.
     
  22. roy7777

    roy7777 Established Member

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    Thank you all for the suggestions, to reply to your questions, I asked for $13,000 because BrandBucket had recommended a price of $16,000.

    After reading the replies I've reverted back that I am looking for $13,000(didn't offer $10,000 or so as a middle ground), will update you with what happens either way :)
     
  23. Hassan ben

    Hassan ben Established Member

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    Good luck!
     
    Last edited: Dec 29, 2020
  24. blogspotter

    blogspotter Top Contributor VIP ★★★★★★★★★★

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    Good Luck Bro
     
  25. rawapesona

    rawapesona Established Member

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    Good Luck Bro
     

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