Have I just made a big mistake?

[Quality Names]

My last thread disappeared so I'm posting my question again.
Yesterday I received an 60 Euros offer for my premium .info domain .MULTITOUCH.info and by impulse I started an auction for it on Sedo.
Right after, I started to seriously regret, for I had bought it years ago and didn't remember how valuable it is.
I think I should should have sent a much higher counter offer or simply have kept the domain for the future, but I'm not sure. I would like some feed back from the NP community. Since domaining is not my day job and I haven't been in touch with it for a while, I don't know how big my mistake was. Thank you so much for your opinions and help.

 

[mjbenterprises]

I don't think it's a big mistake, but I would have countered a bit higher, since most likely, there won't be any more bids in the auction unless you get another "end user" interested......Maybe a counter of $150-$250 would have been in order??

 

[nicedomains]

If it is that valuable of a domain than the auction will end at a fair price if you pump up the auction a bit in external auction sections of forums, in your sig, email links to your auction to potential end users. I don't think you made a huge mistake. Of course it is not the best time to be selling 'premium' domains whatever those are

 

[seven]

If it is that valuable of a domain than the auction will end at a fair price if you pump up the auction a bit in external auction sections of forums, in your sig, email links to your auction to potential end users. I don't think you made a huge mistake. Of course it is not the best time to be selling 'premium' domains whatever those are

x2

It's a two word .info. The ceiling probably isn't high enough to be that big of a mistake.

 

[buohcom]

True, you should always counter offer. However In the past I've made a counter offer so high that buyer quickly cancel. So be careful even when making a counter offer.

 

[akcampbell]

Multitouch is a niche key phrase so I doubt domainers on Sedo will bid the price up from 60 Euros. You should have countered higher, the buyer is probably an end user and would have paid more.

 

[El Bandolero]

If your going to counter offer, I think that you should up it just a litte more than him. Not enough to scare him away, but enough to where he might up it more and you will get more for your domain.

 

[Domagon]

If you feel the domain is definitely worth say $500+ (~360 Euro), then cancel the auction asap.

And explain to Sedo you accidently hit the wrong button, or didn't understand the terms, or some other B.S. Worst they'll do is suspend your account (no biggie - sometimes it'll start working again eventually; create a new acct), but likely Sedo won't even suspend anyways; probably just give you a warning.

With all that said, if you feel the domain is of marginal quality (imho, to me it looks to be a good domain), then 60 Euro, assuming Sedo's commission is only 10% of that instead of 50 Euro, you may do ok even if no other bids; promote the auction far and wide on forums, etc.

Ron

 

[Michelle]

If you feel the domain is definitely worth say $500+ (~360 Euro), then cancel the auction asap.

And explain to Sedo you accidently hit the wrong button, or didn't understand the terms, or some other B.S. Worst they'll do is suspend your account (no biggie - sometimes it'll start working again eventually; create a new acct), but likely Sedo won't even suspend anyways; probably just give you a warning.


Ron

Wonderful ethics :]

 

[HappyBunny]

Ethically, you cannot undo the auction.

The best you can do right now is getting as much exposure as possible.

You did the right thing by starting this thread --

at least, you get free promotion to the NP community by creating this thread!

(who knows, maybe some members here will bid on your domain)

 

[JamesDavid]

I don't think it's a big mistake, but I would have countered a bit higher, since most likely, there won't be any more bids in the auction unless you get another "end user" interested......Maybe a counter of $150-$250 would have been in order??

Agreed it is not a big mistake at all. I hope it attracts a few bidders for you...

 

[Domagon]

Wonderful ethics :]

Ethics are a two way street. Sedo isn't an auction house even though they pass themselves off as being one.

And Sedo (and other similar services) give people the impression they actively are involved in the sales process, when the reality is Sedo doesn't enforce sales; absolve themselves of any responsibility.

In essence, Sedo is basically just a place to advertise domains for sale...

Prices shown, regardless of format, are more along the lines of "invitation of offer" and not "prices" in the retail sense. To digress a bit, in many instances, the price shown on merchadise in a store does not always have to be honored in various instances - ie. a store lists a $99 item for 99 cents - they don't have to honor that; that issue most often arises with on-line retailers. Often a price isn't truly the price until both buyer and seller have mutually agreed; a meeting of the minds.

Point is it appears, from what the OP wrote, that the OP didn't intend to list his domain for so cheap. Thus, in my view, it's permissable for him to cancel the auction asap.

However, in my view, if the OP chooses to allow the auction to continue to completion, regardless of the final price, that's a different matter entirely ... in that instance, the OP should then follow through with the sale.

Ron

 

[Michelle]

Ethics are a two way street. Sedo isn't an auction house even though they pass themselves off as being one.

And Sedo (and other similar services) give people the impression they actively are involved in the sales process, when the reality is Sedo doesn't enforce sales; absolve themselves of any responsibility.

In essence, Sedo is basically just a place to advertise domains for sale...

Prices shown, regardless of format, are more along the lines of "invitation of offer" and not "prices" in the retail sense. To digress a bit, in many instances, the price shown on merchadise in a store does not always have to be honored in various instances - ie. a store lists a $99 item for 99 cents - they don't have to honor that; that issue most often arises with on-line retailers. Often a price isn't truly the price until both buyer and seller have mutually agreed; a meeting of the minds.

Point is it appears, from what the OP wrote, that the OP didn't intend to list his domain for so cheap. Thus, in my view, it's permissable for him to cancel the auction asap.

However, in my view, if the OP chooses to allow the auction to continue to completion, regardless of the final price, that's a different matter entirely ... in that instance, the OP should then follow through with the sale.

Ron

The op posted " Yesterday I received an 60 Euros offer for my premium .info domain .MULTITOUCH.info and by impulse I started an auction for it on Sedo

This would suggest to me that at that time they wanted to send to auction

I have been involved with, read and seen other members disappointed with acts of not following through with names in auctions and to be on the other end of others *changes of mind* is not a nice place to be.

To make a suggestion to another member to do something that, in your words was

" Worst they'll do is suspend your account (no biggie - sometimes it'll start working again eventually; create a new acct), but likely Sedo won't even suspend anyways; probably just give you a warning.


Do you think this is a good suggestion ??

 

[FreshAvails.com]

Ethics are a two way street.

Ethics is a one way street. You have it or you don't. It doesn't matter wha the other party does.

 

[Jaco]

Right after, I started to seriously regret, for I had bought it years ago and didn't remember how valuable it is.

Just how valuable do you think multitouch.info really is?

 

[Quality Names]

I would say at least 500 dollars because the Multitouch technology is going to spread more and more, the iPhone made it popular, and it's already a hit....Microsoft's Surface is another example too.
There's a video on youtube about the topic with almost 2.5 million views, if you put the word on youtube or google you'll se what I'm talking about. Since it's a .info, the domain could be used for multitouch resources, games and etc...
Damn it, I DID make a mistake :/ Someone told me to promote the name, but I'm kind of rusty in this domain business.
The auction ends on the 29th, so maybe I'll figure something out. I have to, because 60 Euros is nothing for it.

 

[rocknrollo]

Your best bet is to scoure the web and find every enduser that may be interested and send them an email with a link to the auction.

 

[Domagon]

...The auction ends on the 29th, so maybe I'll figure something out. I have to, because 60 Euros is nothing for it.

You acknowledge making a mistake. Your options are canceling the auction right now -or- following through with it and hope for the best.

Once the auction ends, in my view, you have an obligation, mistake or not, to honor the final price, since you would have had ample opportunity to correct your mistake by canceling before hand.

So be clear, cancel it right now and apologize to Sedo -or- hope for the best and accept whatever final price you get ...

On the bright side, all these posts may help drive the bidding up, so you may get a good final price. Lots of PR can do wonders, though with the domain market being so lousy right now, it's debatable how much that will help in your instance. Hope it works out.

Ron

 

[tech4]

If you don't like the price, cancel auction now and let them know real reason, you are not satisfy with price. Don't give bull reasons like, you have trouble with computers or your registrars etc., It ends up costing time and making the other party angrier.

Just say, you think its worth more and you have to cancel auction. They will probably give you a warning, no suspension, however if the auction is over and you give some bull reasons like you don't know what's going on, not following through, you not only have sedo and the other party mad but you put yourself at risk. Cancel now and say its about "money".

 

[lzy]

Unless you manage to get the attention of an enduser, that's probably the closing price.

Just look at mine.