NameSilo

GoDaddy inbound offer

Labeled as analysis in Domain Selling and Domain Sales, started by Want2learn, Jun 15, 2019

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  1. Want2learn

    Want2learn Top Contributor VIP

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    I was offered $500 for a name on GD. I countered at $2500. He, presumably, countered back at $750. I was considering the send it to auction option. I considered the counter back option. I did have it listed on my @toughdomains account for $1975 BIN, which I did edit prior to my counter. I decided that although I like the name a lot, I could use the money more today than waiting it out. It was a name I liked enough for the longhaul to keep for years to come. However, I decided to accept the offer and move on to another name. I did think their initial offer of $500 suggested they were interested a bit more than kicking tires. However, I think it could have been another domain investor that may have it ready to go for an end user.
    One bird in hand is better than two in the bush! I can use the money for other projects. And ultimately in life I could use the money today. I do think left money on the table, but I thought the risk of no deal was far scarier than leaving money on the table. I accepted the $750, and the extra $250 covered my GD fees and a little something extra:) Once the deal is final and I have the money Ill share the domain name!
     
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  2. goffee

    goffee Established Member

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    Congrats..👍
     
  3. Windoms

    Windoms Established Member

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    Congrats on the sale.
    Was it through Godaddy domain buy service?
     
  4. Tunababa8v

    Tunababa8v Established Member

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  5. ak4586

    ak4586 Top Contributor VIP

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    Congrats!
     
  6. frank-germany

    frank-germany domainer since 2001 / musician VIP

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    hey congrats

    don't argue..
    once a deal is done
    move on

    it's no good idea
    to justify it to yourself
     
  7. FPForum

    FPForum Top Contributor VIP ★★★★★★★★★★

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    Congrats on the sale! Sometimes it's best to move it while you're making a profit on it. Now you can take some of that money and re-invest into a couple new ones!
     
  8. xynames

    xynames XYNames.com PRO VIP

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    I’ve gotten a lot of offers via godaddy / partner network brokers on domains where the offer was less than my floor / BIN.

    By the time the offer is presented to me it’s not too far from my floor. An offer like you’re describing 500 against a 1975 BIN I wouldn’t even want to hear about from the broker. I’d expect the broker to do more work and bring it closer to 1000 before asking me if I’d accept.

    In your case however you mention the possibility of sending it to auction so maybe the 1975 wasn’t so very firm? in which case your accepting 750 makes more sense.

    As far as the offers that are presented to me by brokers, meaning the ones that aren’t too far from my floor, Sometimes I accept other times I push for more. Results are mixed, meaning that sometimes pushing for more results in a closed sale at a higher price and sometimes results in potential buyer’s moving on.
     
    Last edited: Jun 16, 2019
  9. AnthonyD

    AnthonyD Optimal Names VIP Gold Account

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    I had a recent inbound where my name was listed with a BIN much higher than the initial offer from the buyer (via the broker). Second one in 4 years actually... I thought that was a bit odd since the name was at GoDaddy with a BIN so I am sure the broker (and the buyer) saw it. I haggled and eventually accepted an offer more than 50% less than my BIN (for similar reasons that you did).

    But I will say this (for me), the next inbound GoDaddy broker offer I am going to stand firm on my price. In both instances the buyer ended up having massively deep pockets, so my BIN (which I price to be the value that domain would offer any buyer interested in it) would have been easily affordable by those buyers. IMO.

    Congrats on the sale!
     
  10. KhaledA

    KhaledA Established Member

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  11. Windoms

    Windoms Established Member

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    Be careful when the offers comes through GoDaddy Domain Buy Service.
    Domain buy service is the buyer telling the broker his budget to get the domain name.
    The broker has 30 days to negotiate the best price. He will let his initial offer expire (8 days) without saying a word whether you counter low/high. Sooner or later broker will present the full offer, its his duty to do everything he can to get the domain within buyer's budget.
    The right strategy is to simply refuse all offers (as long as 30 days aren't over), or counter at BIN and stay there until you see the full number.
     
  12. AnthonyD

    AnthonyD Optimal Names VIP Gold Account

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    Hmmm, this fits the pattern of negotiating that I twice encountered already.

    Thats why its important to make sure the domain contact information is available in this post-WHOIS time... This way if we either strike out with the broker or for whatever reason negotiations break down AND that buyer really wants the domain, the buyer can find another way to contact us.
     
  13. Bob Hawkes

    Bob Hawkes formerly MetBob NameTalent VIP Gold Account Trusted Blogger

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    Congrats @Want2learn and thank you for sharing your process and thinking so that we can all learn from it. I think the question of whether to accept firm price today vs the future probability estimates for future higher sale depends on whether we view the term as increasing, stable or possibly weakening in future. Look forward to learning name when all is finalized. Congratulations again.
    Bob
     
  14. MapleDots

    MapleDots Account Closed (Requested) VIP

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    Having conversed with @Want2learn a number of times I think he made the right decision. He has a lot of renewals to pay for and this will help out. I am truly very happy for his sale and wish him many more.
     
  15. Want2learn

    Want2learn Top Contributor VIP

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    Time to unveil the name


    AdvantageCannabis.com
     
  16. Want2learn

    Want2learn Top Contributor VIP

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    Now that you all know the name, what are your thoughts?
     
  17. Radu054

    Radu054 Top Contributor VIP Blue Account

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    I think it’s a fair price for the domain. I would probably have accepted it as well. Congratulations!
     
  18. xdomainer

    xdomainer Top Contributor VIP ★★★★★★★★★★

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    Been a few months but I thought I'd weigh in. You did the right thing by taking the 750 offer. If it had been the other way around - CannabisAdvantage - than no, way too cheap.
     
  19. topdom

    topdom Top Contributor VIP

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    Once deal is done, there is another challange: Will the buyer pay? There is a 50 percent chance. Not sure about others, but at Sedo, recently this is the trend.
     
  20. Promxy94

    Promxy94 Established Member

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    I had a Godaddy inquiry for a domain name I own for $150. I countered with $1000. And didnt here from Godaddy again. Since over 4months.
     
  21. AnthonyD

    AnthonyD Optimal Names VIP Gold Account

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    Would be nice, for the sake of good communication, that people respond with a yes or no. Even a no thank you reply is better than nothing. Ugh.
     
  22. AnthonyD

    AnthonyD Optimal Names VIP Gold Account

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    I hear ya.... Sedo was bad for me over the years. Probably closer to 1 out of 3 would not pay. In 2019 at Godaddy I have had two inbound offers in 2019 and negotiated deals on both - and both paid.
     
  23. Windoms

    Windoms Established Member

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    ''Godaddy inquiry''
    Make sure that the email stated ''Domain Buy Service''
    Maybe someone searched for your name and made an offer through auctions.
    Or something else.
    Or maybe the client used Buy Service then backed out.
    I don't know.

    What is Domain Broker Service?
    If the domain name you want is already registered by someone else, you can use our professional Domain Broker Service with your personal Domain Buy Agent to attempt to acquire it for you. Domain Buy Agents make every reasonable attempt to contact the current domain name registrant to try to negotiate its purchase.

    In addition to the Domain Broker Service fee, there is a 20% Buyer Broker fee ($15 minimum fee).

    The Domain Broker Service purchase gives our agents a maximum of 30 days to negotiate a deal for you. Your purchase is non-refundable and non-transferable. If you want to pursue a different domain name instead of the one you originally purchased, you must purchase a separate request to acquire the new domain name through Domain Broker Service.

    If we cannot contact the registrant or the registrant refuses to sell, there is nothing more we can do to help you acquire the domain name. When your Domain Broker Service expires, we make no further attempt to acquire the domain name for you.

    We consider the services complete when:

    • The Domain Buy Agent made a reasonable, best-effort attempt to contact the current domain name registrant, without response, within the appointed period of time.
    • You no longer want to pursue the domain name.
    • The current domain name registrant refuses your highest offer.
     
  24. Promxy94

    Promxy94 Established Member

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    The message read a bid has been placed for your domain
     
  25. wrolie

    wrolie Upgraded Member Blue Account

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    Now that you’ve seen the site, how much do you think you could have gotten?
     

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