discuss Got greedy, egoistic and lost a deal

[Arpit131]

I hand registered a domain name recently which was one of the initial few .co domain registration just as an experiment to see if they work for me.
I saw that there were some companies on the same domain name in the country code extensions and I was pretty sure that I struck upon a decent name.
Why?

Because it was a popular term, easy and common to use and could have multiple end users. Having researched a little bit more about the possible end users, I registered the domain name and started with outbound marketing.

I carefully drafted the email for each of these companies and sent them a "Make an Offer" proposal.
Received a $199 offer from one of the leads.
I started with $1,199 and the buyer went upto $399.
With some back and forth negotiation, I stayed firm at $699 and the buyer stayed at $499.

I was willing to take the $499 offer as well and it was only a day after registration, so that was like easy $500.
I didn't give in and let my ego into this. Lost the deal.

Take away: While every deal may be different, if you are willing to accept an offer, take it! It is better to accept an offer and move on to better names than waiting for a small difference which doesn't even matter much.

Any questions are welcome!

 

[frank-germany]

You took a risk. The end result doesn't devalue the domain, it simply means that wasn't the right buyer. Stick to your guns and use your gut instinct. Remember: you can go lower but you can't go higher.

ask Mike Mann

you can go higher
( ask me too)

 

[domainer111]

This is the untold story of the domain business.

Thank you for sharing. A lot of us have experienced this. Mine was with Cheap****** .com, [where *****= a major city in Europe].

The person offered $2,000 .. then $5,000 ... then $7,500 on a legally binding offer site.

I kept on thinking "they will go really high so keep pushing!".

I never heard from them again.

 

[Yusupbabay]

congratulations on the sale of my friend.

I have a question
I am the owner of this domain CryptoLogo.com and CryptoCurrencyJournal.com how to sell this domain to :

http://www.cryptologo.net/
https://cryptocurrencyjournal.jp/

please clue

 

[Grayclouds]

Interesting thread to read and great input from everyone.

 

[ro5hit]

Thanks, @Arpit131 , Such a great read. Yes, I completely agree with you. You should not be greedy unless you have a really nice name.

 

[MapleDots]

Greed has nothing to do with it.

You need to know your inventory and set realistic values. I don't think the OP had an unrealistic value on the domain and the fact that someone bid on it shows the domain has value. It is also too early to say you lost the deal. I have often gone back and purchased a domain months or even years after I started my negotiation. Sometimes standing firm shows a value and the end user just needs to mull it over. It took me 3 years to negotiate a domain purchase once and the seller stood pretty firm. I wanted the domain, he knew I wanted the domain and he ended up getting his money.

On the opposite end of that coincidentally it was the exact same domain with a different extension the buyer would not budge and I ended up telling him I had no further need for the domain. He wanted a bit too much, we negotiated, he backed out raised again etc. In the end I said thanks but no thanks. Eventually he dropped the price and dropped again and because it was a .net I just said I have absolutely no use for it any more and am not interested. He eventually let the domain drop and I picked it up at a reg fee. He emailed me back and called me an asshole.

I simply emailed back and said that may be but I am a patient asshole

 

[pokainc]

I'm actually in the middle of prob 3 such type of deals..

• One came up to $400, but I dropped all the way down to $600 (exact match), so far been a few days of no answer
• The other went from $250 to $1000 (I went from $2500 down to $1250, said final drop), so far a few days of no answer
• The other one went from $150 to $600 (I went from around $2800 down to $750 to just close the deal), so far a few days and no answer..
• and a bunch of $250-350 offers (all this over the last 2 weeks)

At the end of the day, am I being greedy? I don't think so
Each of the domains in question are easily $2500+ domains to the right buyer and I'm offering a significant discount.. but on the other had if I took all the offers probably would've made $2500-3000k in less than 2 weeks..

Sometimes it's more of a question of volume of sales over time VS getting the real value for your each domain (even conservative values) more than a question of greed

 

[Arpit131]

ask Mike Mann

you can go higher
( ask me too)

Lol.. His sales are out of the world. It might be a numbers game. It probably is.

 

[Arpit131]

I'm actually in the middle of prob 3 such type of deals..

• One came up to $400, but I dropped all the way down to $600 (exact match), so far been a few days of no answer
• The other went from $250 to $1000 (I went from $2500 down to $1250, said final drop), so far a few days of no answer
• The other one went from $150 to $600 (I went from around $2800 down to $750 to just close the deal), so far a few days and no answer..
• and a bunch of $250-350 offers (all this over the last 2 weeks)

At the end of the day, am I being greedy? I don't think so
Each of the domains in question are easily $2500+ domains to the right buyer and I'm offering a significant discount.. but on the other had if I took all the offers probably would've made $2500-3000k in less than 2 weeks..

Sometimes it's more of a question of volume of sales over time VS getting the real value for your each domain (even conservative values) more than a question of greed

That's a good explanation. Thanks for the insight.

 

[Arpit131]

This is the untold story of the domain business.

Thank you for sharing. A lot of us have experienced this. Mine was with Cheap****** .com, [where *****= a major city in Europe].

The person offered $2,000 .. then $5,000 ... then $7,500 on a legally binding offer site.
I kept on thinking "they will go really high so keep pushing!".
I never heard from them again.

Happens. I have heard of people losing $100,000 deals in early 2000s never to hear from buyer again and sitting with those domains even now. So, you know, sometimes a bird in hand is better than two in the bush.

 

[domainer111]

Happens. I have heard of people losing $100,000 deals in early 2000s never to hear from buyer again and sitting with those domains even now. So, you know, sometimes a bird in hand is better than two in the bush.

Or perhaps even three!

 

[elevator]

Sales once lost does not always meant greed; but greed is when your domain's worth is not commensurate with the price you are selling.

I have read many thread here on name pros and I understood that no matter the time of the reg, be it new or old; sales worth are determined by the quality of the domain name itself. I have seen someone sold names; new reg on the second day for very good four and five figure at many auctions.

Losing that sale does not meant you are greed and that you can not sell it again.

Most important thing is the quality of the name in sale. Please never mind for the loss, the best is yet to come.
It seems you are considering your present pocket and considered yourself greedy which may not be so, just keep calm and wait patiently.

I have also lost a sale this year as we could not reach a particular price.How can buyer just have it at the price of their choice and not ready to come in to agreement with the domain owner. To me it meant they are not really ready to buy the name and that can not be termed as greed. There must be back and forth if they are ready to acquire the name.

So I don't consider it as greed at all. IMHO. Cheers

 

[elevator]

Or perhaps even three!

Domaining is not like that now!!

 

[elevator]

Happens. I have heard of people losing $100,000 deals in early 2000s never to hear from buyer again and sitting with those domains even now. So, you know, sometimes a bird in hand is better than two in the bush.

And so you think that is the end of selling the name. That domain may at the end fetch them six figure. This is business and not "let me sell as comes" matter.

Look if you have a good domain at hand you should not just sell any how as you may not get such good one easily.

 

[elevator]

Those that are having big sales are conservative and you can not have a good sales at first attempt without any good back and front negotiations

If your domain is good one, be prepare for good negotiations with end users and if you are not happy with the price you may opt out and reject price at will.

 

[namemarket]

Lol.. His sales are out of the world. It might be a numbers game. It probably is.

No doubt about it being a numbers game combined with luck. Not just with Mike Mann but places like Uniregistry selling their owned names for amazing prices. Sometimes we see incredible 5 figure sales on names which would not sell for $200 on a forum, or even reg fee.

It's because if you own 100s of 1000s of names by luck occasionally some business will come along who simply must have that name for a new project or maybe they are upgradng the extension such as going international from a country code to .com and are very well funded and don't care about a quoted high price.