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?

 

[Branded Domains]

firstly dont judge a domain by estibot..estibot is a crap..secondly if u like the name for development then go for it..

 

[thekiller]

Go for it, you have given your words, now honor it. You should have estimated the worth of the domain you're buying, since the domain is for development, go for it.

 

[Mohammad]

Thank you everyone for joining this thread.

First of all, I don't see any unaccetable behavior in myself. I just offered and seller accepted. I think some of you took this so serious. For example, I had experience here in NamePros. A dude won my domain in the auction and he told me if I don't mind, he would like to cancel the deal and I just accepted.

As I said, the seller didn't reply me at the first time so I thought he won't sell or wants to sell for high price. I randomly offer $500 and he just replied and accepted my offer. And I'm willing to buy the domain with that price.

I have my rules and it's my money. 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

 

[DU]

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

They don't have a legal contract at all as it doesn't contain key terms : payment date/terms, transfer mechanism. It is essentially only a promise of agreement (not that it matters too much).

It would be more or less of an agreement if the email was "Would you take $500" vs "I offer you $500" - as one is just an enquiry and one is an initial step towards a contract. Acceptance of the offer is another step. Completion of Escrow by both parties, for example, would be a contract as at that point all the criteria are laid out.

There is likely nothing legal in the correspondence - who would pay for transfer? Escrow? etc. etc.

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.

Most transactions in domaining are not built on reputation. Most end-users don't know "Recons.com". They might search and see what they can find so you might have some concerns if you're "Shane Bellone" or "Adam Dicker"

My experience would tell me that end-users are fine with most things. It's domainers that are pitas. Few domainers give anyone much slack at all - you get your name canceled for credit card issues and you get whole threads dedicated to your reputation cleansing effort, for example.

 

[DU]

Thank you everyone for joining this thread.

First of all, I don't see any unaccetable behavior in myself. I just offered and seller accepted. I think some of you took this so serious. For example, I had experience here in NamePros. A dude won my domain in the auction and he told me if I don't mind, he would like to cancel the deal and I just accepted.

As I said, the seller didn't reply me at the first time so I thought he won't sell or wants to sell for high price. I randomly offer $500 and he just replied and accepted my offer. And I'm willing to buy the domain with that price.

I have my rules and it's my money. 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

No one will know what you did or didn't do anyway =) What you do is say that you say that you're willing to buy at that price because you're the nicest guy in the world and your reputation is intact. People get too hyped up by nonsense hype, imho.

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

 

[Recons.Com]

Another lesson learned: never accept an offer straight away without countering, even if you are happy with the price. Negotiate so that buyer feels happier even if he/she has to overpay for it ))

 

[DU]

Another lesson learned: never accept an offer straight away without countering, even if you are happy with the price. Negotiate so that buyer feels happier even if he/she has to overpay for it ))

Unless someone offers you $500 for a really poor two word domain that for some reason estibot overvalues at $900

 

[SirDrago]

Most end-users don't know

"End User"
This Phrase has been passed and shared almost as much as kim kardashian...

The truth to the phrase is that it was created by a "Domainer" to get a discount from another "Domainer".
It has NO other meaning whatsoever.
Once a Domain is sold Thee END your the USER responsible for it now.

 

[domainrz]

If you are not replying to that seller or not buying that domain, just reply him what happened, so if he get any other offers from others then he can sell

 

[JudgeMind]

LOL, just kidding, but I would hate to be the seller if you did back back out, it is lame and you shouldn't be making offers if you aren't prepared to follow through. However I too am guilty of doing this, ended up costing me like $175 on sedo as I had to pay the commission, I tried to contact the buyer to apologize but couldn't get in touch. For personal financial reasons I wasn't able to follow through and have felt bad since. But, looks like the seller found another buyer, so everyone was ok.

We all make mistakes, if it were me I would be transparent with the seller if you really don't want the name. Just tell them you are new and were not thinking straight when you made the offer and have to back out.

 

[Willox Perez]

I really disagree with this. Low ball offers only reach the goal to piss the seller off.
One thing is making an offer that gives you margin to resell, another is low balling. The latter is in my view unprofessional and counterproductive.

I understand what you mean. But what I would say to a seller who gets pissed and thinks is unprofessional, that is a lead, someone who is interested in buying your domain. Just because they say $20 does not mean they are insulting you. I welcome as many low ball offers as possible just means I have to filter through them and see who is willing to come close to my price.

As a buyer though I do not start with the maximum number I am willing to pay or what I feel the domain is worth. I low ball offer to see what the seller's price is and we begin negotiations. The funny aspect of this is within the domain game we will play both parts, the buyer and the seller. We just have to know how to play the game while taking the unnecessary emotion out of it.

- Will

 

[TRY]

I don't think you are obligated just because you just asked if they would take a certain amount, Unless you made a commitment which I don't think you did. it's the games that makes it inappropriate, honesty imo is the best policy.

I doubt all the people that said your word is your bond are saying so from experience. Some of them may find themselves to be hypocrites when keeping their word means getting the short end of the stick or hurting themselves. I'm not naive to the world and especially this business.

 

[Ms Domainer]

I don't think you are obligated just because you just asked if they would take a certain amount, Unless you made a commitment which I don't think you did. it's the games that makes it inappropriate, honesty imo is the best policy.

I doubt all the people that said your word is your bond are saying so from experience. Some of them may find themselves to be hypocrites when keeping their word means getting the short end of the stick or hurting themselves. I'm not naive to the world and especially this business.

If someone makes an offer and you accept, you have just entered a legal contract.

If you don't honor it, then your reputation should be sh*t.

 

[Ms Domainer]

What about if he was incompetent when he made his offer? Is he still obligated to go through the deal?

And how would you define "incompetent"?

Unless the potential buyer or seller is a minor, then the contract is legally binding.

Period.

Numpty deadbeats deserve to be named and shamed.

 

[Name Trader]

You seems like bringing up all kinds of issues; to pulute the current one. How many languages do you know, understand and write? If your answer from almost zero and to hollow one; then you just disrespecting your accomplishments and knowledges in such area.
If you think you are perfect in all areas, then I salute you. Registries are totally diffent from this issue. Your concerned about prevention of none payer buyers in the future; the seller has nothing to do with this issue; so therefore he or she should left alone. Including the item he owns. if you are being reasonable and fair to everyone, in such situation; then that alone will save you all kinds of headaches. I respect your knowledge and accomplishment is such area. Till then the world is far from perfect. Except yours.

The first indication of something wrong is when you reply to your own posts I trust you accept this JOKE in the same terms as it is given. With humor

 

[NameOmnia]

Uterus

ROFL..
@ulterios lmao...
Sorry I couldn't help myself..

 

[maya-zir]

Strange discuss.
He doesnt have to pay $500 if he doesnt want.
He offered $500 privet way, not in public auction where his "bid" could affect to final price.
He must only email again and explain he only was checking and the price is too high for him.
Thats all.

 

[doubleU]

Strange discuss.
He doesnt have to pay $500 if he doesnt want.
He offered $500 privet way, not in public auction where his "bid" could affect to final price.
He must only email again and explain he only was checking and the price is too high for him.
Thats all.

The $500 offer was accepted by the owner, any deviation from now on is bad business practice.

 

[mitok]

OK, lets see the opposite situation. You are the buyer of domain listed at Sedo. You noticed one domain with BIN $500 and purchase it. The seller decide not to transfer it as he thinks he could get more (the opposite of this case where buyer thinks he could get it for less). Would that be OK ??

Recently I had situation where I forgot to update BIN and sold great domain way under the amount I wanted as someone hit BIN. Transferring to the buyer was not a question at all. He honestly paid and I transferred it immediately, although I was pissed off.

If you make an offer, you are supposed to pay if accepted. Period. It would be something else if your offer would be accepted few weeks later, but if it was accepted right away you should pay.
You cant know what loss could cause your offer to the seller if you don't pay. One more example, I was in negotiation with one Chinese regarding valuable numeric domain. He offered high $xxx and I accepted. He did not respond on my email 24 hours and in the meantime I received direct e-mail inquiry where buyer from US offered to pay the price listed on GoDaddy less fee. It would be better deal for me, and much easier (you know why if you ever dealt with Chinese who don't speak English), but I answered him that I sold the domain and could let him know only if buyer fail to pay. The next day Chinese guy made payment.
I could get few more dollars, but I feel good, sleep well, keep my moral, AND I now am connected with solid Chinese buyer for future deals.

 

[Ms Domainer]

OK, lets see the opposite situation. You are the buyer of domain listed at Sedo. You noticed one domain with BIN $500 and purchase it. The seller decide not to transfer it as he thinks he could get more (the opposite of this case where buyer thinks he could get it for less). Would that be OK ??

Recently I had situation where I forgot to update BIN and sold great domain way under the amount I wanted as someone hit BIN. Transferring to the buyer was not a question at all. He honestly paid and I transferred it immediately, although I was pissed off.

If you make an offer, you are supposed to pay if accepted. Period. It would be something else if your offer would be accepted few weeks later, but if it was accepted right away you should pay.
You cant know what loss could cause your offer to the seller if you don't pay. One more example, I was in negotiation with one Chinese regarding valuable numeric domain. He offered high $xxx and I accepted. He did not respond on my email 24 hours and in the meantime I received direct e-mail inquiry where buyer from US offered to pay the price listed on GoDaddy less fee. It would be better deal for me, and much easier (you know why if you ever dealt with Chinese who don't speak English), but I answered him that I sold the domain and could let him know only if buyer fail to pay. The next day Chinese guy made payment.
I could get few more dollars, but I feel good, sleep well, keep my moral, AND I now am connected with solid Chinese buyer for future deals.

Until this industry gets off its posterior and begins naming and shaming non-payers, this problem will continue. Count on it.

Evidently, some people's inability to honor a contract is greatly impaired.

And, Mayazir, if you don't have the money, don't make an offer because if an offer is accepted, you have just entered a binding contract.

I, for one, will NOT knowingly do business with someone who makes an offer and then reneges, only to come back with a lower offer. In that case, the price will then go up.

He/she can friggin' pound sand.

 

[JamesCrew]

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

My thoughts exactly. If the domain is worth the price you offered, then all I can say is, grab it mate.

 

[lock]

I think you should just let it go now and probably try another line of work here is the rope. =========================================================

 

[maya-zir]

LOL! It's not bad to say that seller has a few domains and seems he's not a domainer.

The seller wasnt a domainer until he recieved your XXX offer for his domain.

 

[JamesCrew]

As I said, the seller didn't reply me at the first time so I thought he won't sell or wants to sell for high price. I randomly offer $500 and he just replied and accepted my offer. And I'm willing to buy the domain with that price.

I see. If this is the situation, email the seller again and tell him/her what your intentions were behind quoting this random price. Mention that you only wanted to get his/her attention/reply and that you can not afford to pay that much for the domain.

Ask the seller to tell his/her minimum selling price (below from your quoted price of course). If the seller is convinced, there are chances that you both may still finalize a deal.

But if the seller is stuck with your random price, then I would suggest you to find an alternate domain name.

Good luck,

 

[DU]

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

I'm not talking about excuses. I'm talking about misplaced self-righteous indignation over a non-issue.