sales From $3000 offer to a $26000 domain sale

[AbdulBasit.com]

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.

 

[AbdulBasit.com]

It was good job to save $213 Uni fres, but I feel it was a risky move, it is safer to continue on same platform where deal was negotiated because you cannot predict all outcomes, for example end user me get difficulty in creating Sedo account and then change his mind and cancel the deal.

Actually sometimes buyer have asked to use the same platform and asked for reasons why not to use Uni and a different one at the end so I went with Uni and paid the service fee. I can't recall any buyer backing out just for this reason because during communicating with buyer, I've all my contact details along with website address mentioned in signature which makes the inquirer comfortable enough to proceed further. Also so many buyers have gone through the blog before even making purchase and pass feedback about my blog and domain business as well.

 

[Michael Ehrhardt]

Yeah, that saved $213 (Uni service fee)

spend this 213 wisely

 

[Ostrados]

Also so many buyers have gone through the blog before even making purchase and pass feedback about my blog and domain business as well.

I took a look at your blog, don't you think buyers will not like it when you report buying domain for $59 and then selling it for $1988? We usually do our best to hide that info from end users

 

[oskaaay]

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.

Really learnt from your firmness.

It normal for the other side to undervalue your domain but once you are sure it worth more than the offer, been firm will be helpful. Though that takes a level of courage beyond what most domaining can summon especially for the fear of losing the buyer eventually which could also happen.

Meanwhile, this name defiled pronounceable name thoughts...finding it difficult to pronounce as it looks like Question .com misspelt.

 

[Go4John]

Congratulation Abdulbasit on the sale of Queastor.com.
You've always been a source of motivation...Thanks for sharing!

 

[lock]

Love to see the wording congrats on your negotiation skills.

 

[manpreet]

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.

Congrats on the sale Abdul bhai, wow a 1994 reg! The earliest one I have is from 1997.

 

[abdou01]

Congratulations @abdulbasit and Thank you very much for sharing
(It happened the samething with me "Domain offered at 5000 euros but Finally sold at 7500 euros because I didn't like the buyer first answer , Unfortunately I can't share the name as asked by the buyer)

 

[AbdulBasit.com]

I took a look at your blog, don't you think buyers will not like it when you report buying domain for $59 and then selling it for $1988? We usually do our best to hide that info from end users

My main purpose for sharing is so fellow domainers can gain some knowledge and implement in their own business if they want to. I know many have benefited from it which is my ultimate goal for the blog to keep running.

As far as endusers are concerned, I agree with what you're saying and rarely a new buyer have said me that I make huge amount of profit and even after that I've sold the domain to the same buyer. I think any serious buyer pays if the domain fits their budget and need, no matter what I've paid for it. I take it the same way too so this issue doesn't bother me.

Nonetheless, a good question raised by you.

 

[Sutruk]

Once the deal was finalized via Uni platform, I asked buyer to create account with Sedo and removed the domain from my Sedo account in order to save 15% commission and Uni's service fee so I can NET $26,000.

Thanks for sharing this. I was not sure that you could do this, without the penalty of the 15% comission, if the domain was already listed at Sedo.

 

[Kemal G]

Great job, @AbdulBasit.com !

I just checked the word and saw it's registered with 34 extensions: https://dofo.com/lists/name/quaestor
I didn't even know "quaestor" is a word.

 

[AboGamil]

its awesome
gratz man

 

[Bob Hawkes]

Re a big difference between acquisition price and sales price and issue if that becomes known to end users, I like the example someone else used in a different thread (trying to find link): Someone is able to buy a classic painting for a few dollars at a yard sale. Does that make the painting worth less?

But agree it can be an issue and is why I think majority of sales don't get disclosed. Really appreciate that @AbdulBasit.com shares both sales info and how the negotiation happened.

Bob

 

[AbdulBasit.com]

Thanks for sharing this. I was not sure that you could do this, without the penalty of the 15% comission, if the domain was already listed at Sedo.

Simply remove the domain before you start external transfer request at Sedo. In that case, no one has issue if the buyer has no problem to proceed with Sedo. The only problem is that Sedo charge fix 3% and Uni charge bit less than that depending on the amount if I'm not wrong.

 

[AbdulBasit.com]

Great job, @AbdulBasit.com !

I just checked the word and saw it's registered with 34 extensions: https://dofo.com/lists/name/quaestor
I didn't even know "quaestor" is a word.

Thank you Kemal!

Nice to see your openness and I was in the same situation when I saw this domain at expiring auction. That time I researched about this keyword and came to know about it first time.

We all learn something every day and that's good way to progress further.

Best wishes!

 

[4better]

Awesome sale! Indeed an inspiring one. Thank you for sharing this to us. I thought Sedo charged 3% of gross selling price and you wanted to avoid paying Uni's $213 service fee. Did you or did the buyer pay the Sedo fee? Did you actually receive the full $26,000 amount? Sorry, just a bit confused. Thanks again.

 

[AbdulBasit.com]

Awesome sale! Indeed an inspiring one. Thank you for sharing this to us. I thought Sedo charged 3% of gross selling price and you wanted to avoid paying Uni's $213 service fee. Did you or did the buyer pay the Sedo fee? Did you actually receive the full $26,000 amount? Sorry, just a bit confused. Thanks again.

Happy to see you liked it.
I always opt buyer to pay the escrow fee no matter what the escrow service I use.
And yes, I got full $26,000.

 

[4better]

Happy to see you liked it.
I always opt buyer to pay the escrow fee no matter what the escrow service I use.
And yes, I got full $26,000.

Wow, great strategy! And to think a lot of us pay commission fees, service fees, etc. that slice down our take home pay. And your patience in dealing with buyers is amazing too. Not sure if I can have that patience too.

 

[dande]

This name is really very sweet to pronounce

Yeah, very sweet to pronounce because it has sold for big dollars.

If this name was placed on Namepros auction, see how everyone will be dragging their feet, struggling to even make $50 bid.

 

[Haroon Basha]

Congratulations @AbdulBasit.com
You are a toughest negotiator, really.
This sales story is very much inspiring. Further you every sale has a great lesson to learn. Patience pays and your consistent behavior pays more.
Please accept my hearty congratulations for the great sale. More powers to you.

 

[YairDD]

I don't know if it's the same buyer, but seems like Quaestor(co/uk) was sold on DAN.

 

[AuctionBio]

Yeah, very sweet to pronounce because it has sold for big dollars.

If this name was placed on Namepros auction, see how everyone will be dragging their feet, struggling to even make $50 bid.

you are right, but you are missing the real taste and meaning of this word. Because, literally when I saw the meaning of this word, I started loving it. I might have missed it at first as well, but I did explore google a bit for this word.
I might not say about the word "finance" that it is sweet sound, but "quaestor" is sweet and poetic one to pronounce imo, you can have different opinion though.
and it is very true that good finance domains are hot cakes and every good domainer knows it....
From these kind of sales, we got to learn the hidden lessons.

 

[DomainMiner.com]

Congratulations! Thanks for sharing your story!

 

[clyde talley]

not trying to be negative but i dont see any value in the name at all and it does not pass the radio test for pronunciation at all.being aged seems to be the only value factor.still, sometimes 1 mans garbage is another mans Gold.thats why domains have no value in mainstream banking.

 

[vij]

Thanks!
Yes, almost all of my domains are using Uni sales lander and BIN at both Sedo and Afternic.
I used Sedo escrow service because using Uni escrow would've made me pay $213 as their service fee which I wanted to save it.

Hi Basit Bhai, Congrats For An Awesome Deal, Just Wanted To Ask If You Set BIN At Multiple Places? Like More Than One?
What If In Some Rare Case , Domains Are Sold At Both The Places At BIN Simultaneously?