domain HELP... Just got $10k Offer....

[3beagles]

A month ago I started targeting several executives at big unionized companies, as well as, the AFL CIO to purchase the Buy Union (.) Com name. With the political climate, elections and Labor Day coming up, this domain could be a very effective marketing and PR tool.

I have three solid inquires for the domain and just received a hard offer of $10k from the first one. I have several questions:

1) How much more is it worth? And, how do I negotiate effectively after saying "I want 5 figures" and only got my first offer at $10k?

2) What type of Tax Implications are there with a sale of this magnitude?

3) Would it be wise to turn it down and wait to do a media blitz around Labor Day to fetch a better offer?

Your advice would be helpful!

 

[DN BROKER]

10K offer is very hard to get... i counter offer with 15K and ask the seller to cover the escrow fees

sell the domain as individual and not a company...or you will pay a high tax

 

[3beagles]

Anyone else? I'd like to get $25K for it (Am I out of line?) Another prospect indicated that they were interested and weren't scared of the price. In fact, the above company that offered me the $10K knew that this figure is the lowest end of my "Five Figures" request. I stated that I thought we could find a # in between. So they offered $10k. I also know that this company has a 'range' of acceptable price... but said when I was talking to someone in mid 20's that that was out of the range. But, they do have flexibility. Again, I'm asking for your response. Thanks!

 

[gemstar]

Just take the 10k. I think asking more may turn them away. No sence in being greedy. No offence :tu:

 

[bmugford]

$10K is more than a fair offer. Don't fall into the trap that many domainers do, and be greedy. The offer is way more than fair, and I don't see a line forming of people willing to pay $10K for this domain to be honest.

 

[Mike]

You want 25, they offered 10 - counter with 20 and hope that you didn't price yourself out of the market. unless you paid close to the sales amount, you're looking at a very decent profit. Disclaimer though - i'd only counter high if any of the other prospects has made an offer as well. Other than that, i'd aim for 15k which is reasonably close to 10 ...

M.

 

[Idees]

I'd take the offer, since it's more than reasonable.

 

[3beagles]

Actually it was a domain I developed over 4 years (98-02) and ended up personally filing bk on over $150k in losses in 02. The $10k offer gave me 1 week to make up my decision. Ironically, 30 minutes prior to the first organization making an offer, I received another HARD lead for purchase. However, they are getting back to me early next week with an aproved offer from their superiors.

 

[italiandragon]

If you want more you take the risk to lose it all.

Ask yourself if you are willing to take that risk.

In my past, even with dealing with very interested buyers it happened to lose them totally just to counter $500 to a $400 offer.

 

[Jakester]

Pigs get fat. Hogs get slaughtered.Take it and run.

 

[homebuyer]

More Money

If you are considering selling it for less money than you'd like, then tell the $10,000 buyer that you will put the domain up at auction with a $10,000 reserve. If the domain is only worth $10,000, then the buyer has nothing to worry about.

If the buyer thinks that it is only worth $10,000 then he should jump at the chance to place his $10,000 bid.

If you don't want to pay big auction fees then just list the domain on ebay, notify your buyer with an ebay auction link, and then use the auction period to contact other potential bidders about what's up for grabs.

If ebay's fees are too high for you, then consider some other auction platform that's free. I think that there might be a few of them out there. Google it.

 

[wot]

Counter at $19,000 with something like "thank you for your original offer of $10,000 however it is below my/our expectations and we/I consider that $19,000 is nearer to the current value of such internet real estate"

Good luck

Remove the name from any threads.

 

[Steven]

I think it's a fair offer for this non-developed name.

btw, you may want to get the plural version?

 

[gemstar]

Counter at $19,000 with something like "thank you for your original offer of $10,000 however it is below my/our expectations and we/I consider that $19,000 is nearer to the current value of such internet real estate"

Good luck

Remove the name from any threads.

I think the counter offer would be see ya! :tu: Take the 10k offer. Most of us would love an offer like that.
Good luck!

 

[PowerUp]

Actually it was a domain I developed over 4 years (98-02) and ended up personally filing bk on over $150k in losses in 02. The $10k offer gave me 1 week to make up my decision. Ironically, 30 minutes prior to the first organization making an offer, I received another HARD lead for purchase. However, they are getting back to me early next week with an aproved offer from their superiors.

Find some way to delay having to reply to the first offer, like you need to discuss with your partner (who is away on business trip).

After you've got an offer from the 2nd potential buyer, then perhaps you can start informing both of them that you'll send the name to Sedo and they can start bidding on it. This is the fairest way since there are more than 1 interested parties.

 

[athletec64]

If I were in your position, I would just sell it.

 

[gemstar]

With 10k You could buy 2 lll.com's if you add a few thousand. Sit on them and make more of a killing.
Or just buy one! And have some cash left over to invest in somthing else. :tu:

 

[ddchan]

Find some way to delay having to reply to the first offer, like you need to discuss with your partner (who is away on business trip).

After you've got an offer from the 2nd potential buyer, then perhaps you can start informing both of them that you'll send the name to Sedo and they can start bidding on it. This is the fairest way since there are more than 1 interested parties.

This sounds professional.. :great:

 

[Mike]

This sounds professional.. :great:

In today's age???? C'mon! There's hardly any place on this planet, especially not a place to have a business trip to, where his "partner" wouldn't have internet and/or cell phone connectivity. If anything, the "I have to wait for my partner" announcement sounds like a cheap cop out.
Might as well come to the table with the irrefutable truth - you have offers out from 2 more interested parties and in the interest of fairness, you would like for them to have a chance to respond to the initial offer. You have given the other parties a reasonable deadline where they can respond. If they fail to do so, you will let the name go for the amount of the highest offer.
This is a straight and fair shot and not a "sorry, i can't reach my (fictional) partner"

:imho:

M.

 

[gemstar]

Take the 10K!!! .