NameSilo

From $3000 offer to a $26000 domain sale

Labeled as sales in Domain Buying and Selling Discussion started by AbdulBasit.com, Dec 11, 2019.

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  1. AbdulBasit.com

    AbdulBasit.com DomainsWeb.com AbdulBasit.com PRO VIP ★★★★★★★★★★

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    Hello everyone,

    As I recently published a post with several of my recent domain sales, today I wanted to share another domain sale with complete detail of how it started and the deal was wrapped up successfully.

    The domain I sold is Quaestor.com which was the oldest domain by creation date I owned until it sold. It was initially registered in 1994 but I acquired in 2018 for around $1100 via GoDaddy Auctions.

    The inquiry came in via Uniregistry lander and I quoted price of $26,888. The buyer countered with $3000. After exchanging several emails and asking to come close to quoted price, the buyer revised his offer to $6,000.

    Again after more communication, I said to present an offer of over $20,000 to get into negotiation.

    With no response, I gave my final price of $25,000 with 7 days to accept. The buyer came in August and offered $10,000 but only after the 7 days period was over.

    Sticking firm to the final price, the buyer came again in October and presented $15,000 offer to which I declined by informing the price is reverted back to $26,888 which was initially quoted because the offer of $25,000 was valid for 7 days only.

    There was once again silence until the buyer came again in November by asking if I’m willing to negotiate as they’ve to decide and move on within a week period.

    During this silence period of more than a month, I already upped the price at all marketplaces to $29,888 so I informed the buyer new price at all marketplaces but if he is still willing to buy, I can offer $26,000 to you only which is valid until the end of November.

    Buyer immediately accepted and we used Sedo escrow and buyer paid the Sedo commission.

    At one stage the domain was offered for $25,000 but ultimately sold for $26,000 to the same buyer. Every time you need to grab the offer at the right time, but you’re not always sure what’s that perfect time. We keep learning from our and others experiences. What best we can do is to keep learning all the time and improving ourselves.
     
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  2. Mister Funsky

    Mister Funsky Happy New Year VIP

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    Wow...great sale! Thank you for the awesome details...this inspires me (and others I hope) to stay firm with pricing for their digital assets.
     
  3. Bob Hawkes

    Bob Hawkes formerly MetBob NameTalent Gold Account VIP Trusted Blogger

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    Thank you very much for sharing this experience, @AbdulBasit.com and congratulations on another great sale! I think for many of us relatively new to domain investing, and inexperienced with trying to negotiate a premium sales price, this is one of the hardest skills to learn. Hearing specific examples from experts like yourself helps a lot.

    Your example shows the importance of being firm, silence at the right times, taking reasonable but not emotional actions (like the slight increase in asking price on marketplaces rather than suddenly asking 10x as much).

    Slightly on-topic, or not maybe :xf.wink:, but when you acquire a domain do you already have in mind not only what your asking price will be but also the minimum amount you would accept for it in a negotiation? Or does that evolve later?

    Bob
     
  4. tvanrijt

    tvanrijt Top Member VIP

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    Great story. Thanks again for sharing.

    Other than the registration age, what made you invest over $1000 for the name? I myself would not have linked the meaning of the word to companies with bigger budgets. Obviously you proved me wrong, just curious how you saw the potential of a 5 figure name during the auction.
     
  5. jideofor

    jideofor Top Member VIP ★★★★★★★★★★

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  6. topdom

    topdom Established Member

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    If it is a great domain you can stick to your "high" price, but I don't see how this domain is great. except that it is old (maybe after some research I would be convinced).
     
  7. xynames

    xynames XYNames.com PRO VIP

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  8. barman

    barman Established Member

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    Always great to read about your experiences Abdul - you really know what you're doing.
     
  9. DanSanchez

    DanSanchez Brokerage & Acquisitions Epik.com Staff VIP

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    Thanks for sharing, it is something I have recently learned to curve. My eagerness to close the deal and get the customer onboarded.
     
  10. Blitzpotz

    Blitzpotz Top Member VIP ★★★★★★★★★★

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    Another great success story to learn from. Thank you you very much.
     
  11. dande

    dande Top Member VIP

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    Me too, I'm curious to know the meaning of the name that makes you stood firm with your pricing?

    Congratulations!
     
  12. Welberch

    Welberch Welberch, LLC VIP ★★★★★★★★★★

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  13. AbdulBasit.com

    AbdulBasit.com DomainsWeb.com AbdulBasit.com PRO VIP ★★★★★★★★★★

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    Thank you dear :)
    That's what keeps me motivated and sharing.
     
  14. AbdulBasit.com

    AbdulBasit.com DomainsWeb.com AbdulBasit.com PRO VIP ★★★★★★★★★★

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    Thank you very much Bob for always taking time and commenting on my sales.

    I totally agree with you on what you said and the purpose of sharing is to share my experience and learn from any feedback I receive so I can improve.

    Yes, definitely. I always have at least approx price range in my mind before making a purchase. I think it's needed as it helps in deciding on how much to pay/bid for buying the domain.

    But after acquiring any domain, sometimes it happens that I change the price but not with massive difference.

    For accepting minimum amount, usually it's up to 20% off from original quoted price but that depends on several factors as well.
     
  15. Vinod R

    Vinod R Established Member

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    You are quite inspiring as always. Many of us can learn a lot from your posts. Keep writing. Congratulations for the wonderful sale.
     
  16. wwwweb

    wwwweb Top Member VIP ★★★★★★★★★★

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    Nice sale, curious to why you used Sedo escrow, instead of Uni market? Was the buyer in Europe, or was it their choice?

    Interesting concept on https://quaestor.io/
     
    Last edited: Dec 11, 2019
  17. Cal2

    Cal2 Established Member

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  18. sadiq3051

    sadiq3051 Established Member

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    congratulations to you Abdul.. and thanks for sharing your experience...
     
  19. boker

    boker Top Member VIP

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    Great sale, congrats, it's always hard to know the budget limit of your buyer, at least in my case. I wonder if you track how many other sales did you lost, because you didn't accepted less than what you were asking, let's say 50-75% of the price. I'm guessing, that in one way, you could have more sales/profit from accepting less and closing more deals, but it's hard to find that perfect balance.
     
  20. kandyan

    kandyan Established Member

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  21. AuctionBio

    AuctionBio Top Member VIP

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    good financial names are always very good and carry a very good value. This name is really very sweet to pronounce, it is an antique kind of name and the meaning that it carries is more sweeter. Just see the meaning
    "any of a number of officials who had charge of public revenue and expenditure".
    Who would not want this name, of-course big financial firms are real hot users who would like to lead.
    I would say a great pick at first and than having a great sale
    Good story to share, congrats bro
     
    Last edited: Dec 11, 2019
  22. Sutruk

    Sutruk Established Member

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    Thank you for sharing the details of this amazing sale! You are a good negotiator no doubt!

    And congratulations, for the sale and for the very well done negotiation!
     
  23. IPBFlippers

    IPBFlippers Established Member

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    Saw this thread on Twitter and decided to check it out. Not disappointed. Great sale. Great negotiation skills. A good domain name too. Unique, aged and in the finance industry.
     
  24. Ostrados

    Ostrados Entrepreneur Gold Account VIP

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    Congrats.. this is inspiring!

    So the domain was listed as make offer at Uniregistry and at BIN in other places?

    Did the buyer bought it from Sedo or you just used Sedo escrow service?
     
  25. The Durfer

    The Durfer Upgraded Member Gold Account Blue Account VIP

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