offers Gonna buy a domain, don't know it worths the offer!

[Mohammad]

I'm going to buy a domain. First time, seller didn't reply my email and second time I offered him $500 for a 2 words .com domain which estibot says its value is about $950. Now, I think I could buy it cheaper and I made a mistake by offering $500. I thought he won't sell it lower than $1000 but now he accepted the $500 offer. How may I be sure that the domain is valuable like $500? Should I take a time and ask a 3rd party (my close friend) to buy it for lower price?

 

[Asfas1000]

Buy the domain for the price you offered. That's what a gentleman would do.

Besides, it won't work if your partner makes a low offer; seller will know.

THe seller may need the $500 now, but not later. Or the domain could be sold to another person.

 

[Recons.Com]

If you made an offer and it got accepted, you should honor it. That is how contracts work and an email offer with acceptance is a form of a contract.

 

[Name Trader]

I didn't read this whole thread because I'm in a bit of a rush right now. But if you have made an offer and the seller has accepted. then you have a legal contract to buy the domain. Your word is your bond in this business. You're trying to avoid this purchase only goes to show how unreliable you are to deal with. I have dealt with you in the past, but will never again buy (or sell) anything from you because you don't have any moral principals.

 

[tomcarl]

Honor your word as a Businessman and as a Man and have some integrity.

If things are moving too slowly and you're having second thoughts, email him and let him know you want this completed within the next 48 hours or you're going with another name but still give him the opportunity to move forward with your original offer if he agreed. The end.

PS - Unless you're a mind-reader, maybe the guy didn't even want to sell it for $500 but something came up, or he thought about it and he's actually giving you a break, and now you want it for less? At the end of the day he could be the one with seller's remorse. How about he emails you in the morning saying "On second thought, I want $1000" when you're ready to pay up the $500 he accepted, what's the difference? I bet then you'd be quick to pay up that $500.

Doing the right thing always pays off in the long-run. I've followed-through with deals I had seller's & buyer's remorse only to deal with the same person in the future and cut some nice deals which wouldn't be the case if I had backed out.

 

[SirDrago]

I'm going to buy a domain. First time, seller didn't reply my email and second time I offered him $500 for a 2 words .com domain which estibot says its value is about $950. Now, I think I could buy it cheaper and I made a mistake by offering $500. I thought he won't sell it lower than $1000 but now he accepted the $500 offer. How may I be sure that the domain is valuable like $500? Should I take a time and ask a 3rd party (my close friend) to buy it for lower price?

Now that you made it public that you don't honor your bids how many friends will you make here?
You just labeled yourself a cheat.

 

[Recons.Com]

It doesn't meet the legal definition of a contract. It's just an offer at this stage. Even if it was a contract the damage on failing to fulfill the obligation is usually none when it's a nominal amount. But really, it's just an offer.

If the OP doesn't want to spend $500 he just says "I changed my mind. I'll only do it for <whatever the new value is>"

Being underhanded (using another id, pretending you have a partner etc.) is just annoying and can result in sellers simply upping a price and resisting a sale out of principle. It's not illegal, it's not wrong and I'm sure many NPers do this regularly. That said, there are few people who can't be talked into a deal that they said they'd never do with the right money.

TLDR
Just be honest and say you want to pay less if that's what you want to do. Accept the consequences.

You are wrong. It is not just an offer if it is accepted before expiration/withdrawal.

In the long run, building a reputation where people know that they can do business with you on a handshake will pay you off handsomely. You'll save on transaction costs, people will cut you a slack when you need time, they will find you with opportunities and will hold it for you just on your word.

And, most importantly, you will feel good about yourself.

 

[S-B]

If you don't care about what we think, why should we care to help you?

 

[SirDrago]

Some of the most respected members on this forum have at some point

Sold domains for other NP members commission free.

Shared tools and resources for free.

Given their personal client contact info to help them achieve connections and sales.

Helped develop their websites for free.

Shared available to register domain names. (Chips included).

Helped others on "How to" close on their first sale.

Pushed domains to clients before payment to build trust and help them get of the ground including Payment plans.


Your definition of "Most respected" is different from mine.

 

[DU]

Domainers really are weird people.... they claim these high moral ethics while:

• Regularly buying undervalue where possible
• Regularly selling overvalue where possible
• Provide a detailed explanation to unknowledgable buyers of why they refuse to take more than $X for their domain because that's all it's worth and no negotiating will ever change that (not)

I read things like "word is there bond" but do you know how many domainers do the following

• Lie about sales (to the tax office too)
• Lie about purchases
• Lie about traffic
• Lie about NDA
• Lie about their personal scenarios when looking to buy

On a similar vein

• Get an offer on a domain they dropped, register it and sell it (rather than just being honest)
• List a domain at multiple venues when they sign a contract of exclusivity
• Make up a "partner" and a "business budget"
• Contacted a seller outside of an auction to avoid commission
• Contacted a buyer outside of an auction to avoid commission
• Gotten free perks at FLIPPA

Some of the most respected members on this forum have at some point

• Front run
• Shill bid
• Backed out of commitments
• Done things in Private they shouldn't have
• Dealt in obvious TM domains (and defended them)
• Sold crappy ebook of freely available information with "reviews"

I wish everyone would get off their high horse for a change.
I'm not saying you should back out of solid agreements. I'm not saying shill bid or cheat. But damn... you'd think you're all as pure as the driven snow.

I'm sure everyone will (like the last time I posted this) lambast be and say that I'm a terrible person for accusing anyone here of being imperfect but people need to be realistic. Capitalism always fails for someone.

Bottom line is that this is something that you will NEVER know the outcome of so where's your TRUST and BOND then? 99% of bad things you'll never know and a large number of lies you'll never recognize.

 

[garptrader]

As others have mentioned, I would not use Estibot alone to determine how much to offer for a domain. However, if you have come to an agreement on price, you need to honor the agreement - even if perhaps now you are thinking you could have bought it cheaper. Too bad - close the deal and learn your lesson. To do otherwise will ruin your reputation and no one will want to do business with you in the future.

 

[21x20]

I'd just note the sales lesson here, since it's been discussed in other threads.

If you get a blind offer, never accept the first offer or the buyer may back out thinking he over paid.

ALWAYS counter.

 

[NameOmnia]

I randomly offer $500

Whether it's true or not that you have a legal commitment to finalize your transaction I do not know, I am not a lawyer but that you should honour it I do know.

Your word and reputation must come first. All of us I am sure have had to finalize transactions we weren't happy with because we said we would have, I know I did. Was 100% happy? Maybe I wasn't but to me there is nothing more valuable than integrity.

There are people on this forum I would make a deal for a xx,xxx sale on a handshake without hesitation and others I wouldn't deal with even for 1 dollar.
How many do you think would be happy to deal with you after what you have posted?

 

[SirDrago]

I had seller's remorse for only to have the same person come back and buy more from me in the future which wouldn't have been the case had I backed out.

Well said and I couldn't agree more.
Integrity rewards honest business people.

 

[DU]

I didn't read this whole thread because I'm in a bit of a rush right now. But if you have made an offer and the seller has accepted. then you have a legal contract to buy the domain. Your word is your bond in this business. You're trying to avoid this purchase only goes to show how unreliable you are to deal with. I have dealt with you in the past, but will never again buy (or sell) anything from you because you don't have any moral principals.

It doesn't meet the legal definition of a contract. It's just an offer at this stage. Even if it was a contract the damage on failing to fulfill the obligation is usually none when it's a nominal amount. But really, it's just an offer.

If the OP doesn't want to spend $500 he just says "I changed my mind. I'll only do it for <whatever the new value is>"

Being underhanded (using another id, pretending you have a partner etc.) is just annoying and can result in sellers simply upping a price and resisting a sale out of principle. It's not illegal, it's not wrong and I'm sure many NPers do this regularly. That said, there are few people who can't be talked into a deal that they said they'd never do with the right money.

TLDR
Just be honest and say you want to pay less if that's what you want to do. Accept the consequences.

 

[Name Trader]

It doesn't meet the legal definition of a contract. It's just an offer at this stage. Even if it was a contract the damage on failing to fulfill the obligation is usually none when it's a nominal amount. But really, it's just an offer.

He has accepted the offer. They have a legit contract to buy/sell. Of course we all know that in the murky underbelly of domaining, you can walk away from contracts with impunity

 

[thetruman]

is a nobrainer... if you offered 500$ it means it is worth for you at leastthat sum. You got curious because he accepted straight away. This doesn t mean the domain is not worth it. Plus you wouldn t be really a serious person to make business iMHO

 

[Name Trader]

I'd just note the sales lesson here, since it's been discussed in other threads.

If you get a blind offer, never accept the first offer or the buyer may back out thinking he over paid.

ALWAYS counter.

Domaining 101.

 

[21x20]

No one really cares until you screw them. A lot of it is pontificating about the "industry"

Well... or until one posts a thread that asks for opinions in a community... and then turn around and tell everyone that you don't actually care about their opinions. LOL. I almost wouldn't believe this thread existed had I not seen it myself.

IMHO, just a stupid thing to do ... but it's a big community and many of us do appreciate the blunt, honest warning to just not waste our time with a given individual. LOL !!

 

[pchip]

Personally, I don't think waiting a few months and having someone else contact the seller is going to get you the domain any cheaper. The seller will probably suspect this and/or they might hike the price since there's been multiple inquires in a short time.

You offered $500 and they accepted. Either pay the person, or tell them that you changed your mind and your not interested anymore, and move on. You should have never offered what you're not intending to pay.

Show some character and keep your word.

 

[tha-she]

I really really don't care what do people think about me here after reading the thread. Honestly, I don't care even 1%. But I appreciate all ideas.

Mohammad

You must be from that special section.

Another not to deal with :/

 

[TheBaldOne]

In this business, perhaps more than any other modern business, a person's reputation matters as we are constantly doing business with people we never meet from all societies around the world, but the thing that is paramount is that your word must be your bond. (Obviously there are times when for whatever reason something might occur that prevents someone keeping their word, but if such an event happens then that persons reputational history for dealing honestly is taken into account - an example is the trader ratings displayed under our avatars.)

If though a person decides not to honour their offer to buy or sell at an agreed price then that persons 'word' is not to be trusted, and as such that person will lose the respect not of only the person s/he has broken their word to but also of others within the business. Here is the dilemma for the OP, should he accept that he made an offer that was accepted and therefore a deal has been agreed or should he now attempt (with no apparent good reason) to get the price reduced to one below what HE offered and was accepted. I personally, like most other members on here I think, would expect him to honour the agreement he initiated by making the offer, just as I hold that I and most others would feel obliged to honour such an agreement if we had made it.

What the OP does will likely have a great bearing on how members here consider whether to transact business with him in the future. Therefore I will ask of the OP one simple question, do you honestly only value your reputation at a few measly dollars?

 

[TRY]

Domainers really are weird people.... they claim these high moral ethics while:

• Regularly buying undervalue where possible
• Regularly selling overvalue where possible
• Provide a detailed explanation to unknowledgable buyers of why they refuse to take more than $X for their domain because that's all it's worth and no negotiating will ever change that (not)

I read things like "word is there bond" but do you know how many domainers do the following

• Lie about sales (to the tax office too)
• Lie about purchases
• Lie about traffic
• Lie about NDA
• Lie about their personal scenarios when looking to buy

On a similar vein

• Get an offer on a domain they dropped, register it and sell it (rather than just being honest)
• List a domain at multiple venues when they sign a contract of exclusivity
• Make up a "partner" and a "business budget"
• Contacted a seller outside of an auction to avoid commission
• Contacted a buyer outside of an auction to avoid commission
• Gotten free perks at FLIPPA

Some of the most respected members on this forum have at some point

• Front run
• Shill bid
• Backed out of commitments
• Done things in Private they shouldn't have
• Dealt in obvious TM domains (and defended them)
• Sold crappy ebook of freely available information with "reviews"

I wish everyone would get off their high horse for a change.
I'm not saying you should back out of solid agreements. I'm not saying shill bid or cheat. But damn... you'd think you're all as pure as the driven snow.

I'm sure everyone will (like the last time I posted this) lambast be and say that I'm a terrible person for accusing anyone here of being imperfect but people need to be realistic. Capitalism always fails for someone.

Bottom line is that this is something that you will NEVER know the outcome of so where's your TRUST and BOND then? 99% of bad things you'll never know and a large number of lies you'll never recognize.

You can always find bad and good in every industry, doesn't mean you can use that as an excuse.

 

[DU]

Your definition of "Most respected" is different from mine.

No, I do think some of the most respected members of NP shouldn't be so because people tend to focus on the $$

The others I think do some of those things because it's not such a big deal to inflate sales. You'll never make money if you buy and sell on pure value. I'm just saying there's a reasonableness in play.

The vast majority of NP members are great people that do much of what you mention; however, even within that group to pretend that this "your name is everything do the right thing" nonsense is over the top. This is all predicated on a difference between a concrete agreement / contract and just the establishment of a vague offer - bidding on an auction comes with legal terms (it's why NP says you must have a timeline, a method of payment, transfer etc) and just being flexible.

You know as well as I do that if someone offered vaguely $500 and then came back and said no you'd likely brush it off and move on. You'd never force the issue on the offer. I would hope you wouldn't come here and destroy someones reputation etc. You'd take the moral high ground and likely be wary in the future of that individual if they ever came back. You wouldn't castigate the poor guy. NP members are, in general, more forgiving than that. I don't know why everyone tries to then, when questions turn up like this, make it so black and white.

I know that some people are more serious than others. I know @stub for example did sell a name he didn't own and then actually repurchased the name and sold at price at a loss when most of us (me included) would have just said - my bad and chalked it up to an accident.

Point is not that NPers are bad. The point is that that people on this thread are way too preachy about ethics that most of us don't actually practice.

Most members here are awesome. I'll leave it there before I get too misunderstood.

 

[thetruman]

I beg to differ... If you know the value and buy it undervalued.. IT IS dishonest..

Every action we make is ultimately our own responsibility, rather than buying it undervalued.. why cant you give fair/reasonable value??

blaming on the externalities (ie.. marketplace at work) is a nice cover ...

"blaming everything else is great.. until you've got nothing left to blame but yourself"

the fact is that buying a domain at a "undervalued" price is not dishonest; you are buying/selling here at reseller value, so you should always have an edge on the market otherwise there would be no margin for profit. People here hold hundreds if not thousand of domains which is a risk and a costly business to run on such proportion. If you put a domain for sale at a fixed price that is let s say a third of the markey value, is because
1)you need the money fast
2) you don't know about market value
Point 2) involves the fact that you are ignorant about the domain market and probably you don t have worked hard and get on top of the market information. Is not my fault. I do not work hard for you.
People let drop valuable domains everyday. So should you email them informing that their domain might be worth $$$$? Why don t you run such a business? You probably will book a place in heaven, but you are a bad domainer in this world

 

[Suraj Soni]

You should not ask question here if you don't respect opinion of other members.

Members here are much more experience than you in domaining. you are behaving like a careless school boy who does't care about offer, others opinion etc.