GD Domain Buy Services - Any experience?

[Alex]

Yesterday I got a letter from Godaddy Domain Buy Services that somebody is interested in a domain of mine.

I did a check of this service and it seems one needs to pay in advance a $59 non refundable fee to GoDaddy to even try to negotiate.

Now I have some kind of experience in negotiating with buyers I know (that inquired directly through whois), but I am in a new position now, as I do not know the buyer.

Regarding the domain, it is a very good .com one, with over 10 other tld's registered, with other 8-9 sites that use this generic term in their domain name, and I already got an end user inquiries for it some time ago.

Now, my question, what is your experience with GD domain buy services? They have a limit they can offer me, but will they try to lowball? What % will be their first offer from their maximum offer?

Thanks for any input,

 

[Broker]

There basically acting as a broker for someone who imho probably isnt too familiar with the business. I would just be straight with the email sender (godaddy broker) and tell them your absolute lowest price you will accept for the domain name and hope the buyer agrees.

 

[irishmat]

never make the first move, ask them to submit an offer

 

[Alex]

thanks for the advice. I think they will make the first offer, but now I wait for their email.

Does somebody know, GD appraisal is necessary when trying to get a domain through GD buyer services?

 

[Spade]

thanks for the advice. I think they will make the first offer, but now I wait for their email.

Does somebody know, GD appraisal is necessary when trying to get a domain through GD buyer services?

Quite frankly, GD's brokering service was a joke (when I worked there from 05-06) not sure if they have improved since then, with Adam Dicker on board. However - my guess is not. I would approach this as if it was a serious buyer, and play ball like you normally would.

Justin

 

[Alex]

Quite frankly, GD's brokering service was a joke (when I worked there from 05-06) not sure if they have improved since then, with Adam Dicker on board. However - my guess is not. I would approach this as if it was a serious buyer, and play ball like you normally would.

Justin

Thanks Justin, it is nice to hear a word from somebody who worked there.

 

[brackis]

One of my LLLL's which used to be on 4Lnoob's example list of a 90th percentile name has gotten a GD domain buy request. Tried to get me for $500, told them 2k, within an hour they're back with 1500. I'm thinking if it was that easy, and they're using GD Domain buy, that I might wanna walk away and let them come calling again for a few more Gs?

 

[cache]

sold one name there. It is OK.
The buyer needs to buy something to start, so the buyer is serious

 

[Alex]

I got a $700 offer for my domain. Countered with much more, and haven't heard back from them yet.

Anyway, I am not in an urge to sell.

Btw, the domain is Just Living com

 

[The Stealthy One]

<snip> tell them your absolute lowest price you will accept for the domain name and hope the buyer agrees.

Huh? You don't have very good negotiating skills! :o I though I was bad. :D

In actuality, you would want to get them to name the first price. And, even then, you don't just automatically accept the lowest amount you would take - first, figure out exactly how high of an amount they would pay you.

 

[DomainBuyerBroker]

Any update on the status? Did you sell the domain?

 

[Alex]

Buyer did not agreed on the potential price. However I wouldn't have sold for $700 anyway.

Lowered my offer, but haven't heard back from them yet. They are very slow (Godaddy who forwarded my new offer to the buyer after 4 days)

 

[DomainBuyerBroker]

Well, it's not like you are hard to find. I see you have a contact us page on the site so they can find you directly if they want.

Since they haven't and since they are using godaddy as a broker, I'm guessing they are newbies or foreigners who may not speak English. They probably tried to hand reg it then just bought the godaddy broker service.

If this is the case and their first offer was $700, I would say they have more room so maybe $2000 would be a good max for them. maybe not for you but for them. Just guessing based on my experience.

So, just guessing but probably not a strong buyer.

 

[Alex]

Yes, not a strong buyer.

I was helpless at first with the $700 offer because I did not know who I am dealing with, and I was uncomfortable in this particular position.

So I countered with quite a lot, knowing that some small - medium sized businesses also are tech newbies, and would maybe use GD brokers.

Then they refused my offer and I countered with much less, a bit more than you suggested. Did not hear from them for two weeks, but actually even the first answer came very late if I recall.

 

[DomainBuyerBroker]

Hey, if you want to sell it, keep making lower offers. You only risk giving them the "hand" in negotiations but if you don't have to or don't want to sell, then you don't.