domains George K Turned Down $10MM Offer On A Domain

[silentg]

https://twitter.com/x/status/1481391067882790926

 

[GeorgeK]

A 10MM opening offer? I doubt that ever happened before.

FIrst time someone made an opening offer that high for a domain name in my company's portfolio, which I found unusual and worthy of a tweet.

 

[bmugford]

I realize this type of offer has no relevance to me, or 99.99% of other domain investors...but I don't think many people realize the quality of George's portfolio.

The domain might be a LL.com. It might be an ultra short single word .COM.

It would be that type of domain. There is no way we are talking about some average domain here.

Regardless, George is a good guy who has done as much or more fighting for registrant rights and against ICANN's bureaucracy / abuse of power than anyone.

I have no doubt the offer is legit if he brought it up. There is no way this is some offer from an unvetted party.

Brad

 

[redemo]

No disrespect but this is useless information for 99,9 % of people on Namepros. These turn-downers are living an alternative lifestyle in an alternative reality to the rest of us. Who in their right mind turns down $ 10000000 or $ 55555555 for a domain name ? It's not logical behaviour. Plus I don't believe either claim without evidence. So it's just boasting to get attention.

 

[GeorgeK]

No Counter offer simple rejection?

Simple rejection, with a brief explanation. They came back this morning, though, and so the conversation is ongoing (they know my "magic number", although price isn't the sole issue).

 

[VadimK]

Absolutely useless piece of info. What's the domain name? What was the case? Describe a situation, so at least it's readable like a story. No use, no help, no fun in this article.

 

[GeorgeK]

After further analysis, I've determined that the offer was FRAUDULENT. The domain that sent the offer was a typosquatted version of a real company (changing an 'i" to a "l" to make it seem it came from a VC).

Not sure what their end game was, since my deals go through lawyers.

I've reported the relevant domain name to the abuse department of the relevant registrar, to get it shut down.

 

[bmugford]

Be interesting to know what was in it for the fraudster who submitted the offer.

Anyone have a theory of what they hoped to gain from it? Like had George not rejected it outright, had they hoped to build some trust that would somehow lead to some information of value to them?

A $10m sale is obviously going to include lawyers. At some point you actually have to make payment.

Yeah, not really sure what their end game was.

Brad

 

[johnn]

He did not say that the offer came from his wife.

 

[GeorgeK]

Perhaps they thought that some folks would transfer the domain name first, before receiving the money? Or perhaps they hoped to scam the escrow company, and 'spoof' a "we have received payment, you can send the auth code", or .....?

I'd only ever use lawyers (no escrow companies), but others perhaps use different processes that might have exposed them to a potential loss. Stay vigilant!

 

[mr-x]

Make a post about what he has donated to the poor.

Better to donate in private.

 

[Bob Hawkes]

Be interesting to know what was in it for the fraudster who submitted the offer.

Anyone have a theory of what they hoped to gain from it? Like had George not rejected it outright, had they hoped to build some trust that would somehow lead to some information of value to them?

 

[GeorgeK]

As far as I understand, he looks at Micheal Saylor video every day and thinks his domains are all also worth $10M+. I asked yesterday on Twitter if he is feeling ok. And now he suggests I also look at the video. I mean I have my doubts...

LOL That's not correct. [someone else sent me a link to that podcast earlier this week, so I watched it one time] As to what I think my domains are worth, why would you care so much? I'm doing just fine, regardless of this attempt to scam me of my domain.

 

[GeorgeK]

LOL, we know you watched it at least two times yesterday. At least you made at least one post about it

I was generally concerned by your well being, I mean you said you have declined several 8 figures offers on your domains. I looked at the portfolio, don`t get me wrong, it's one to kill for, but there are no 8 figure domains.

I mean if you sell something for $10M, you could replace it with at least 10 same grade domains in the current market.

That's why I was concerned.

As I said, I watched it one time. As for what the domains are worth, you're entitled to your opinion, and I'm entitled to mine.

Show me where you can find domains equal in value to School.com, Math.com or Leap.com for $1 million these days, and I'd buy them (in cash).

 

[Kingslayer]

Thanks for the info, but It's sales i like to hear about and i don't think this is 'newsworthy' even though George never created this thread himself.

Some domain investors like to use the internet as 'promotion' for their domains ie:- 'my domain is now $120 million', this gets posted around as 'news' when it's not really 'news' it's promotion as the internet is a poweful tool and what is said forever stays on it.

So if one day if a buyer comes in for this '$120m domain' but now the asking price is $6m/$8m or $12m 1,2 or 3 years from now, the aim is to make them think they getting a bargain with all the backlinks linking it to $120m.

I'm not saying George is doing that, he's not even said which domain it is, so have no doubt what he's saying is true, but until he makes the sale, i don't think it's a post for NamePros and maybe he (himself) will agree on that.

 

[frank-germany]

I tuned down a 500 € offer yesterday

 

[Business Brands]

Why do these kind of posts turn always into shame?
What was the reason posting such thing anyway? Let me guess, attention?

No one is shaming George Kirikos. The offer was not legit.

 

[AEProgram]

It’s good to be the king…

I just turned down a 25mm initial offer for a .xyz domain. The guy insisted I pay the escrow fees and I don't want to. He upped the offer to 975mm but still refuses to pay the escrow fees. I'd rather sell it for 5 bucks than pay escrow fees. I might even let the name drop than to pay escrow fees.

Am I king now?

 

[rh2000]

No disrespect but this is useless information for 99,9 % of people on Namepros. These turn-downers are living an alternative lifestyle in an alternative reality to the rest of us. Who in their right mind turns down $ 10000000 or $ 55555555 for a domain name ?

I agree. Most domainers are just trying to survive and pay there bills and are probably, barely eating. Some people have it easier in life than others.

 

[johnn]

I would leave him alone unless he volunteers to disclose the information.
He has a wife too so please respect the guy so he does not get into problems.

 

[wot]

No surprise here then, better to wait until money is in the bank before reporting.

 

[Kingslayer]

George, opening 8 figure offers I think most people (probably even you yourself) questioned the legitimacy of it, that's why it's probably best keeping it to yourself mate until a sale happens.

A lot of people on here don't have much money, so when they read about people turning down 8 figure offers, jealously creeps in, even when sales happen, jealous people are reading and 'a sale' can become negative, it's one of the reasons why i don't report sales.

 

[bmugford]

Not a surprise. He owns an incredible .com portfolio.

Brad

 

[alcy]

its hype like this that's gonna get him more good sales and offers

 

[iAdam]

No Counter offer simple rejection?

 

[pchip]

I turned down higher offers, because they were fake.

I'm sure he wouldn't have tweeted about it unless the offer had some legitimacy behind it.