First $XX,XXX domain negotiation, advice needed!

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!

 

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?

 

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

 

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

 

Take it.

 

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 👀

 

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.

 

Counter with 10,000. If you don't hear from them again. Wait for the next offer (from another buyer).

 

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

 

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

 

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.

 

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.

 

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

 

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 .

 

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

 

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

 

Spot on @blogspotter 👍

 

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.

 

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.

 

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

 

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

 

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

 

Good luck!

 

Good Luck Bro

 

Good Luck Bro