Dominion.Domains

Got price request from Afternic. Should I move BIN over to them now?

Located in General Domain Discussion started by golan, Jun 16, 2018.

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  1. golan

    golan Leo.Domains Gold Account VIP

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    Sometimes Afternic sends me price requests for my domains. Today i got one as well. They say:
    Now as i understand i need to set the BIN there. Usually my BIN's are at Sedo and Undeveloped, and at Afternic all domains are with Make an offer.

    If i set BIN there now, how long should i keep it there? All the previous times ended without any outcome.
     
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  2. karmaco

    karmaco Active Member VIP

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    They are demanding a buy it now price within 48 hours because you got a price request? Seems they are overstepping. Set your floor and wait to hear more. Most of those price requests are lowball offers anyway. You are entitled to have one buy it now at the place of your choosing. If they want a robust market they should improve the site.
     
  3. Hypersot

    Hypersot Active Member VIP

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    I would set the bin at afternic and remove bins from all the other marketplaces, wait 3-4 days and then start contacting afternic unless I hear from them first.
    Usually they know after a few days if the domain is about to sell or not.

    If there is no sale then you set the domain back the way it was.
     
  4. Hypersot

    Hypersot Active Member VIP

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    While I couldn't agree more about the site, I think setting a BIN and a Floor wouldn't hurt as you will still filter the lowballs and let the brokers at afternic work within your price range.

    In my experience, they have always sold my domains at BIN but it's important to note that I always sell at maximum low $x,xxx so that helps a BIN a lot.
     
  5. Skyvisum

    Skyvisum Active Member VIP

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    I receive a lot of those requests but now I have made up my mind to just respond with a reserve as some of those sales team just ask for more and you may end up losing a sale .I recently asked them to sell a name after I replied for 2000 and they went ahead asking for 2500 .Buyer didn't accept so I told him,you just made me lose a sale because he wanted 2500 and it was my name not his and name was about to expire anyway .He. blew it.I forwarded my correspondence to my godaddy account rep and told him how this person messed up my sale.Anyway do what's best for you and know that floor price is for the sales person should buyer not want to pay your BIN.

    I learnt my lesson ,I know what to do next time.
     
  6. stub

    stub Top Member VIP ★★★★★★★★★★

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    I knew Uniregistry used those tactics. Which in part is why I don't use them. But I never realized that Afternic also increased your asking price arbitrarily. That's definitely a no, no, for me. @Joe Styler
     
  7. stub

    stub Top Member VIP ★★★★★★★★★★

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    That's the problem right there. They are getting most of these inquiries from GoDaddy listing of your domain. Although they will tell you they have a whole network of sellers, and it could be from any of them.

    I always provide what they ask. BIN and FLOOR prices. Because you never want to give up the chance of a sale. But it's usually a thankless exercise. And I really don't think they should be asking this of you for every inquiry they receive. They should reply to their inquiry. This is a Make Offer Domain. Please make an offer. Instead of bothering us, with these waste of time. But I also understand. That if they can push you to create a BIN, and they get a bite. It's a sale for both of us.

    I usually every 6 months go thru my Afternic A/C, and delete all BIN/Floor Prices on my Domains. Because sometimes I will BIN high, and sometimes low. And you don't want somebody BIN on a low BIN price, when you are not expecting it ;)
     
  8. Skyvisum

    Skyvisum Active Member VIP

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    I expect the buyer to Make an offer on a make offer listing and this so called after sales are suppose to let us know the offer and we move up from there not tell me to Price and then they ended wanting more when a sale could have been made.He told me he is going to aim and I told him accept the offer so sale can be made and he went about with his greed and wanted 2500 .I gave him an earful in my respnose and he didn't respond .I told him never to contact me about this domain because I wont accept anything that passes through him.I have been adjusting my price also and just use BIN on some names there and made sure its higher than my efty and undeveloped landers.I really did learn my lesson from thi's experience .
     
  9. Asfas1000

    Asfas1000 Active Member VIP

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    Set BIN and floor and keep for around 7 days, then you can remove them if the domain doesn't sell.

    It's also a good idea to (temporarily) remove the domain's BINs from the other marketplaces.
     
  10. golan

    golan Leo.Domains Gold Account VIP

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    This is very wise.
     
  11. golan

    golan Leo.Domains Gold Account VIP

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    This seems to be the point.

    I'm listing all my domains at Afternic but not at Godaddy.

    Now i went to Godaddy to check. All my Afternic domains are there, can be found via auction search. And this domain that i post about, is also there, and it's written there " Bids/Offers: 2 ".

    So maybe i'm wrong, but i suppose the scheme here is like this:

    1. Somebody finds my domain at GD Auctions and makes an offer.
    2. Since the domain is listed at Afternic but not at GD, GD/Afternic send me email from Afternic, but instead of reporting me about the offer they ask me for BIN.
    3. Then i don't know what they send to the enquirer. Maybe something like: "You offered $100, but the BIN is $900".
    4. No deal. The offer is wasted.

    Now i have another question: if i go and list all my domains also at GD directly, will it be like this that all those GD offers would come to me as they are, as offers on GD? And from Afternic they will send only offers made on Afternic?

    @Joe Styler , i would be really grateful for shedding light on this.
     
    Last edited: Jun 17, 2018
  12. golan

    golan Leo.Domains Gold Account VIP

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    Ok, now i think it's time to quote the email from Afternic in full. Bold formatting is mine:


    ++++++++++++++++++++++++


    *******************************************
    ATTENTION XXXXXXXX

    ACTION NEEDED: Set a price for XXXXXX.com

    *******************************************

    Dear XXXXXXXX,


    You have received a sales lead on XXXXXXX.com through Afternic's network.

    A lead indicates that someone is interested in the domain, but is not prepared to buy it yet.
    In order to proceed with this buyer, please take the following steps now:

    1. Set a Floor Price and Buy Now price in the next 48 hours.
    To remain a robust marketplace of premium domain names for both buyers and sellers, we require
    that every domain have a Floor Price and Buy Now Price within 48 hours of receiving a sales lead.
    The Buy Now Price is the price you want for your domain and at which it is promoted.
    Your domain sells immediately when a buyer meets the buy now price.
    The Floor Price is the absolute minimum price at which you are willing to sell your domain.
    It is a binding price.

    To set your Floor and Buy Now prices please log into My Afternic at:
    _afternic.com/dashboard


    2. Contact your Afternic Sales Executive: Afternic Sales Team at XXXXXXXXX
    If you need assistance, your Afternic Sales Executive is available to help you develop
    a winning pricing strategy and to negotiate with buyers to maximize your likelihood of a
    quick, profitable sale.


    3. Not sure how to price your domain? Get a domain appraisal. Studies show that domain
    listings with appraisals sell 10 TIMES faster than those without an appraisal.
    Show your potential buyers that your domain is appraised. Request an appraisal.

    _afternic.com/domain-name-appraisal

    If you have any questions, our customer service team is available to help you develop a winning pricing strategy. You can reach our service team
    at 866-351-9586 (Toll Free) or +1 781-839-7990 (Worldwide).

    Best wishes for a successful sale,

    XXXXXXXXXX
    Sales Manager
    _afternic.com


    ++++++++++++++++++++++++++++


    Now, you see what happens here? Someone made an offer at Godaddy, but Afternic reports me about a sales lead!!!

    And somebody was not simply freaking interested, he made a freaking offer!!!

    This is so wrong, if you ask me.
     
    Last edited: Jun 17, 2018
  13. stub

    stub Top Member VIP ★★★★★★★★★★

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    Wow. They've certainly lengthened this email. It used to be about 2-4 lines long.
     
  14. frank-germany

    frank-germany F1lter.com xpired domain search engine Gold Account VIP

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    guess that was at uniregistry
     
  15. Bearded Goat

    Bearded Goat Established Member

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    When I get a price request from afternic, I always check at godaddy to see if I see bids for that domain. And if you set decent minimum offers for your domains (instead of the bare minimum $20) you can at least determine someone has bid that much. I also always ask afternic what the offer was before setting a buy it now. It would make way more sense to actually include the offer in the price request email. I list all of my domains under $5k directly at godaddy so I can manage the offers myself without waiting. Anything over $5K I list at afternic so I don't have to deal with the sale having to go through escrow.com.
     
  16. MasterOfMyDomains

    MasterOfMyDomains Top Member VIP ★★★★★★★★★★

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    @Joe Styler answered this question for me before. Some typical afternic response.
    I get them all the time and don't even bother putting a price anymore. Nothing has ever come of a price request. Someone mentioned uniregistry above, these guys aren't quite as bad
    It says make an offer, make an offer.
    Where do these price requests originate from again Joe?
    Is there a request a price button on afternic or gooodaddy somewhere?
     
  17. golan

    golan Leo.Domains Gold Account VIP

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    Thanks. TIL

    It's weekend. I immediately replied to that guy from Afternic, but no reply since. They demand me to set BIN within 48hrs but go to weekend themselves. I mean... I don't know what to say.

    Totally! It would solve all problems. To name the things the way they are. To call offer an offer.

    Thanks! You answered my question.

    No. I haven't seen one.
     
  18. pokainc

    pokainc Top Member VIP ★★★★★★★★★★

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    This option is one of the most frustrating options on Afternic! There should be "make offer and I don't want to receive a price request" option.

    99.9% of the time, it's a waste of time.. sometimes they are willing to offer $500 but if you state to the rep that you want $5000 , Afternic won't tell you about the $500 offer.. then later on if you ask for an update .. they will tell you there was let's say a $500 firm offer.. it's my right for my personal files to know what offers come in for my domains even if it's not close to the asking.
     
    Last edited: Jun 17, 2018
  19. Skyvisum

    Skyvisum Active Member VIP

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    Afternic for now .Don't bother myself with unregistry for now When I used them ,enquires was a lot but the brokers didn't do much .Get a call from one Eli,telling me about listing my name again to make a sale ,bla bla bla.I told him,they pitch their other names with their extension or just recommend other names as long as the price is lower. Afternic had been on the rise but I now sense the sales person can ruin a sale because they want more after you quote a BIN after you get a price requests .Now I would just list at my own reserve .
     
  20. Joe Styler

    Joe Styler Aftermarket Product Manager GoDaddy Staff Afternic Staff PRO VIP

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    If you list your domains at GoDaddy you will get the offers from GoDaddy auctions, but my guess is that the offers you are getting are coming in from the landing page for sale link on the domain the way you are describing it. But the answer to your question is yes, if you list the domains at GoDaddy Auctions you would get the offers sent to you directly.
     
  21. Joe Styler

    Joe Styler Aftermarket Product Manager GoDaddy Staff Afternic Staff PRO VIP

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    I see your point and you can contact Afternic and let them know you would entertain any offer over $500 but if you don't do that by setting a floor of $500 or telling the reps then they would not close a sale on a $5,000 domain at $500 because it is pretty far off. Unless you have a floor of $500 which means the lowest amount you would take then they cannot accept the offer because they don't have any way of knowing you would be happy with them taking 10% of your asking price if your floor is not set or set above $500.
     
  22. Joe Styler

    Joe Styler Aftermarket Product Manager GoDaddy Staff Afternic Staff PRO VIP

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    Generally speaking this is how the sales work. We ask for a price when we get an inquiry. If you do not have a price set. If you do we just work on it and don't let you know there is an inquiry unless it is in your range. We get a lot of calls that are low ball $15 offers. Or someone who thinks you are selling ties and not the domain ties.com. We don't contact you about these types of offers.
    If you do not have a price set we need you to tell us what you would accept, and we want you to tell us fast. There's a 20% higher close rate if we can get the buyer a price within the first 24 hours.
    As far as the asking price what we will do is ask for your asking price and only use the floor price as a last step. So if you have a BIN price - a target price you want for the domain and a floor price - the lowest you will sell the domain for, then we can work on trying to get the seller as close to your BIN as possible.
    That is how we use the two prices. The BIN and floor allow us to negotiate fast and close a deal without dragging out the negotiation. The longer it goes on the less likely there is to be a sale.
     
  23. Skyvisum

    Skyvisum Active Member VIP

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    What about when you tell the sales to accept an offer of $2k and he went ahead trying to get $2,500?Thereby ruining a sale that should have been. Do you reprimand them? I set my BIN at $2,500 and floor at $2000 and he kept insisting on $2500 and when I kept corresponding with him to accept the $2000 he didn't respond but only when his greed didn't go through did he respond back after telling me buyer backed out. I think there should be some form of discipline whatsoever when they mess up one's investment and sale. Afterall, they get their 20% commission after a sale.
     
  24. pokainc

    pokainc Top Member VIP ★★★★★★★★★★

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    Joe usually you've been very helpful when there's any issue and I appreciate it, but if you read what I wrote and not just chosen parts out of context, you wouldn't have said that. I said it's my right for my personal files to know what offers come in for my domains even if it's not close to the asking. Random situation could be that 5 offers that came in at $500 each in a short span of time is $2500 which if cash flow is low.. might decide to accept in an exceptional circumstance. Also it would help to assess which names to renew vs not renew.

    This is just an example.. and again not interested in the floor price situation.. Although I believe in the integrity of the Reps, especially 2 that I regularly work with, I'm not a fan of floor pricing as it anchors the sale to go towards it.


    FYI, Nowhere did I say I would accept that $500 offer. Thanks
     
    Last edited: Jun 19, 2018
  25. anantj

    anantj Active Member VIP

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    Hi Joe,

    If you get an inquiry with a price, why is that offer price not disclosed in the e-mail or on the afternic dashboard to the sellers? Why do we need to jump through the hoop of calling the

    ETA: Afternic support to get this offered price? What's worse is that Afternic support is not available for all of my daytime hour (I'm in nearly 11 hours ahead in the timezone) which means I can almost always never set a bin price during the hot first 24 hours because I need to and want to know the offered price before setting a bin (technically, of course, I can)
     
    Last edited: Jun 19, 2018

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