news From $4,000 offer to a $50,000 sale

[AbdulBasit.com]

Hello everyone!

It was in July 2020 when I received an offer of $4,000 on BridgeMoney.com (acquired the domain in partnership with Jamie Zoch) which was then revised to $5,750 as the best and final offer. At that time the BIN was $12,888. I declined. A month later the buyer came up with $9,000. Again the offer was declined.

Fast forward to 1st April 2022, the buyer came up with $20,000 (with BIN at $50,000 this time). I said that I’ll be accepting very close to the BIN. The buyer came up to $26,000 and said it’s their max budget. Again their offer was politely declined. I gave a deadline during which the buyer didn’t make a reasonable offer to be accepted.

Then on 27th May 2022, Afternic broker was able to bring the buyer up to $41,000 but because I’ve revised the BIN to $100,000, I said to give them $50,000 as floor price and provide them with a 10 days deadline for accepting the offer. Otherwise I won’t be selling even at this price in the future.

And today I got the good news that the domain is sold for $50,000!

Many congrats and thanks to my Afternic rep, the broker and my long time friend and partner Jamie Zoch!

Feel free to give any feedback no matter how good or good it is

 

[tiletalk]

Balls of steel nice

 

[johnsmith53]

Well done Abdul - great sale. Is that an upgrade for the .co or a new buyer?

 

[AbdulBasit.com]

Well done Abdul - great sale. Is that an upgrade for the .co or a new buyer?

Thank you John!
I'm not sure who the buyer is until the WHOIS or the domain is up and running.

 

[Sutruk]

Congrats @AbdulBasit.com for another great sale! You really know how to negotiate.

 

[zomainhacks]

Wonderful domain and great price both for buyer and seller, congrats

 

[Devanos]

Congratulations For your patience

 

[Idong]

Nice sale! Excellent negotiating skills

 

[pokainc]

Nice going! Shows the power of cash on hand.. 2 years ago, he would've payed around 25-26% of what he payed this year.

 

[LoveCatchyDomains]

Out of a sense of curiousity, these are the valuation tools as of today:

GoDaddy estimated value $3840
Estibot $1500
Nameworth $2450

Aren't you glad you didn't use the automated online estimators to establish the selling price?!

 

[AbdulBasit.com]

Out of a sense of curiousity, these are the valuation tools as of today:

GoDaddy estimated value $3840
Estibot $1500
Nameworth $2450

Aren't you glad you didn't use the automated online estimators to establish the selling price?!

I've never relied on any appraisal tools. I don't care what they appraise any domains at. It's just waste of time.

You may want to check this https://www.abdulbasit.com/domain-monetization/how-do-i-valuate-domains-and-set-an-asking-price

 

[Bname.com]

Congratulations

 

[topdom]

Congrats. Can you choose your AN agent?
So JZ helped you to buy it, and then to sell it.

 

[LoveCatchyDomains]

I've never relied on any appraisal tools. I don't care what they appraise any domains at. It's just waste of time.

You may want to check this https://www.abdulbasit.com/domain-monetization/how-do-i-valuate-domains-and-set-an-asking-price

That's the point. You know better, and that's why you're so successful. Congrats on a tremendous sale!

 

[buydomainnames]

Congrats... awesome sales !

 

[PurpleMan]

Congratulations Abdulbasit on this sale and thanks for sharing your negotiation tactics. If I may ask, what made you kept increasing the BIN. From $12k to $100k within three years. Are there any underlying metrics that informed your decision?

 

[AbdulBasit.com]

Congratulations Abdulbasit on this sale and thanks for sharing your negotiation tactics. If I may ask, what made you kept increasing the BIN. From $12k to $100k within three years. Are there any underlying metrics that informed your decision?

Thanks!
I don’t find it comfortable sharing it here.

 

[TangoTango]

I'm going to go out on a limb and say the buyer is bridgemoney dot co. Nice sale.

 

[DomainBarracksRob]

@AbdulBasit.com Congrats!!!

It's great to see one of you sales stories again. Always a interesting read.

Curious, what's the ratio between your min offer and bin, did you have a min set with the 50K ? Or did you set your Min to same as BIN 50K?

 

[Denismth]

Congrats! Will this thing be my bread and butter? I wish it will be. So far I sold one below 1k.