NameSilo

How I sold a domain at a 300% profit and take it as a failure

Labeled as advice in Domain Selling and Domain Sales started by drewwash, Apr 26, 2018.

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  1. drewwash

    drewwash Upgraded Member Gold Account

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    Opened my email this afternoon to news that an ACH payment has been made on one of my domains. My initial thought was that it was a scam and I deleted the email.

    Scrolling a little further down I see an email from SEDO reporting that sold one of my domains at the Buy Now price.

    I was a little excited, but also confused. Only a small handful of our domains have a Buy Now price.

    Scrolling down I see the domain OurSong.com.
    • Sold for $6800
    • Price paid $1850 in ~ 2012
    I understand that some might consider this a victory. It was not. It was a failure.

    I would have never accepted an offer for $6800 on OurSong.com.

    I value OurSong.com at around $22,000. Estibot appraises it around $74,000.

    It turns out that one night, likely after having a couple drinks, I decided to set some Buy Now prices on domains in hopes of liquidating a few of them. A horrible mistake.

    While selling domains was a great idea at that point, selling OurSong.com no longer made sense. The needs of our business changed.

    After logging into SEDO to provide the Auth Code I promptly took a look at my Buy Now prices and deleted them or increased them.

    Ultimately a Buy Now price is set at a point in time. But the need and desire of my business had changed.

    Advice check your Buy Now Prices and see if you think it is correct.
     
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  2. korganian

    korganian Active Member VIP

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    The same thing has happened to me. I am constantly increasing my BIN prices. One buyer contacted me 2 weeks ago about a domain that I had a $695 BIN at Afternic and Sedo. I realized that I had set way too low a BIN price and increased it to $1,495 immediately. The buyer only offered $700. After 2 weeks, the buyer increased their offered to only $900. By this time I had enough time to really do some research and think about all the possible uses for the domain and realized I should never sell it for under 10K. I have now increased the BIN price to $12,500. The buyer was foolish not to jump on that low $695 BIN price. :sneaky:
     
  3. alcy

    alcy Active Member VIP

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    thats one of problems setting bin prices. you gotta keep track of things. which can be real hard if u have many domains.

    despite the several advantages of bin prices too
     
  4. BaileyUK

    BaileyUK Established Member

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    I think we all move bin prices around. last year I lowered a few when I needed some cash and one sold at just under the new bin, the buyer was Apple - yep the big guy. I was aware, but I try not to judge a price by the potential buyer. (I doubt they even noticed a price change)

    OurSong is a great name but at much over 10 to 15k who knows how long it would have sat there. I don't ever remember having sellers remorse. You'd be forever stressing yourself out
     
    Last edited: Apr 26, 2018
  5. creataweb

    creataweb Top Member VIP ★★★★★★★★★★

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    One of my regular maintenance tasks is to check and re-price my BINs wherever they may be.
     
  6. 1Darko

    1Darko Active Member VIP

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    Anyway - congrats!:xf.smile:
     
  7. Haykay2005

    Haykay2005 Active Member VIP

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    Periodically, I take my time to goggle search each of my names priced at BIN. Lol
     
  8. SpareDomains

    SpareDomains Jay VIP ★★★★★★★★★★

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    I like buy it now on stuff I'm looking to move. On the gems I always go make offer as no urgency to sell as those usually receive a more constant flow of natural leads.

    Sucks to forget not to update an old price point but wouldn't beat yourself up too much over it as profit always falls in the positive column.

    Mistake isn't a mistake if ya learn from it. Ya just paid a little tuition to keep better buy it now record keeping going forward.
     
    Last edited: Apr 27, 2018
  9. EZPZYO

    EZPZYO Active Member VIP

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    Moral of the story,
    DON'T DRINK WHILE DOMAINING
    8a40d46302d52988a972235da3def1d6.gif
     
  10. DreamLife

    DreamLife Established Member

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    First OFF, Let me say, CONGRATS ON THE SALE, it was a really good sale. Song titles are a hard sale.

    A NO effort sale, wow, life is good!

    You got a decent price for a domain you probably overvalue. You can take the money and put in to a better domains.

    Just because the marketplace is good, don't mistake it as a chance to gouge, make decent money, save and invest wisely. If you want someone to just cheer lead you on, I am not that person.

    Estibot? Really? NameBio can give you much better idea on pricing.

    Godaddy is a much more credible source for a evaluation of domain value. If I have to explain that, anything else I say will never make sense.

    Godaddy Values the domain at
    OurSong-com
    [​IMG] Estimated Value: $4,893

    ourtribe-com
    Sold for $3,000
    ourland-com
    Sold for $4,888
    ourvoice-com
    Sold for $7,599
    ourmoments-com
    Sold for $4,488
    ourspirit-com
    Sold for $1,500
    ourstuff-com
    Sold for $5,200
    ourman-com
    Sold for $3,288
     
  11. Grego85

    Grego85 Quality.Domains VIP

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    the only reason it sold was the buy it now price. I think you did well on it.

    IMO, unless a domain has a certain keyword in the middle of a fad or hyped phase, changing bin prices on a whim indicates a lack of understanding of the domains value. Holding out with make an offer and pricing based on who the inquiry is coming from indicates greed and a lack of understanding of the domains value.
     
    Last edited: Apr 27, 2018
  12. Mahouni

    Mahouni Established Member ★★★★★★★★★★

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    The price is good IMO. Take that money and buy another one that is going to make you that 25,000 USD which would have never happened had you never sold that domain. You never know...
     
  13. namerav

    namerav Market Restricted

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    Congratulations it's a good sale 😎🙌
     
  14. IMEZI

    IMEZI Top Member VIP ★★★★★★★★★★

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    you already learn the lesson... at least you were gentlement enough and still selling it :xf.wink:
     
  15. FolioTeam

    FolioTeam Established Member

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    Congrats on the sale. As they say, "A bird in hand is worth two in the bush".
     
  16. frank-germany

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

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    you done well
    music related keywords have a very low CPC

    maybe you could have gotten more
    but most probably not within a reasonable timeframe
    and maybe not that much more

    you can spend the money to acquire some good names now
     
  17. DreamLife

    DreamLife Established Member

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    What is the GoValue??

    https://www.godaddy.com/domain-value-appraisal

    and comparable sales it shows?
     
  18. BrandVenue

    BrandVenue BrandVenue.com

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    Congrats. $6.8K today is better than $22K probably never.
     
  19. namerav

    namerav Market Restricted

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    Good one 😀
     
  20. tldboss

    tldboss Active Member VIP

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    Congrats, great sale.
     
  21. AIS01

    AIS01 domainer VIP

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    Congrats..
     
  22. DomainFQ.com

    DomainFQ.com DomainMarket.ws

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  23. DreamLife

    DreamLife Established Member

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    Any Domain if you analyze it enough could be worth $22k, to the perfect customer MAYBE. Even gwxrse.com could be worth over $10k to someone ...

    I got crickets on my request on the GoValue of the domain WHY??
     
  24. korganian

    korganian Active Member VIP

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    Just who do you think you are man? What makes you think I have any obligation to respond to such a stupid and arrogant request. GoValue? LOL. I don't price any domains using auto appraisal programs. Those are for people who don't know what they are doing. I have put you on ignore. Go troll someone else.
     
  25. dragtastic

    dragtastic Active Member VIP

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    good problem to have. Sadly the only way to avoid this, is to keep track of your BIN prices.

    Congrats on the sale
     

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