How to deal with unreasonable asking prices?

[Barts]

Hi guys,

I'm trying to buy a domain (.com, can't tell which one) from someone who is not a pro-domainer. The problem with people who don't make their living with domains (like me ) is that they have often bought some domains trying to get some of that 'goldmine'. The result being that they ask ridiculous and unreasonable prices. At least this is my experience.

For example the domain I was talking about. It's a 10 letter .com and it hasn't got any good words in it (like sex or money related words). So when I asked the owner if he's going to do anything with the domain (it's showing a placeholder since reg 2 years ago) and if he's willing to sell, he replied: "Sure, it'll cost ya $15k".

15k? for a 10 letter .com without any good words? Is he nuts? But the thing is, I don't know how to explain to the domain owner that his asking price is a bit unreasonable and that his domain really isn't worth that much. How would you deal with this situation? I'd appreciate any help

 

[Rubber Duck]

If it is so unremarkable, then simply go after another name.

Other than that you can make him an offer, but if it too far from his expectations, then the negotiations will breakdown then and there.

Hi guys,

I'm trying to buy a domain (.com, can't tell which one) from someone who is not a pro-domainer. The problem with people who don't make their living with domains (like me ) is that they have often bought some domains trying to get some of that 'goldmine'. The result being that they ask ridiculous and unreasonable prices. At least this is my experience.

For example the domain I was talking about. It's a 10 letter .com and it hasn't got any good words in it (like sex or money related words). So when I asked the owner if he's going to do anything with the domain (it's showing a placeholder since reg 2 years ago) and if he's willing to sell, he replied: "Sure, it'll cost ya $15k".

15k? for a 10 letter .com without any good words? Is he nuts? But the thing is, I don't know how to explain to the domain owner that his asking price is a bit unreasonable and that his domain really isn't worth that much. How would you deal with this situation? I'd appreciate any help

 

[Ziggery.com]

The first thing I would do is to try to find similiar domains that have been sold in the past and show them to the person who owns this domain you are after.

What you also have to remember is that it their property. You could find 2 people with the same car, same color and everything else the same but chances are you'll find 2 different prices.

Play it cool, don't send them an offensive email, use compassion to try to get them on your side and that all you are trying to do is educate them into the price of domains and what the going price is.

Get the person comfortable with you, thats #1, don't go in there like a bull in a china shop because some people will just cut of their nose to spite their face!

If they still don't come around, move on.

 

[DDC_Cyn]

If you're dealing with a newbie, the more interest you show the more he's going to think he's sitting on a gold mine. Finding a similar name that sold is probably the best way to show the guy that you're not trying to rob him. But there's not much you can do in the long run. His loss - he can have cash in his pocket now or keep paying fees on a name he may never sell.

 

[Malaysia]

well if u are the domain owner u will open such a price as well ..unless u really need some money then sell lower..u are the first end user or u can be the 2nd or 3rd who enquired bout the domain.emails are about endusers price not domainer's reseller price.. some ppl are not in a rush to sell so they might just hold n hold eventhough they have to hold for 10 years and wait for the right offer to come by..

 

[Rubber Duck]

The first thing you need to understand is that is very rare that you can convince a registrant his name is worth less than he thinks. There are tens of thousands of guys sitting on hundreds of crappy names, but they all think they are going to heaven in a hand cart. They have their own market philosophy which is only proved wrong when then sell or drop. Most of them do neither for years. The dot Asia and dot Mobi guys will still be showcasing in 10 years time. The only thing that will stop them is success, so it is going to continue for a long while yet!

 

[htmlindex]

Hi guys,

I'm trying to buy a domain (.com, can't tell which one) from someone who is not a pro-domainer.

How do you know the person's not a pro-domainer? Did he/she tell you?

Many domainers ask riduculous prices for their names thinking that they are worth millions when they have very little value.

Also, maybe the person's not really interested in selling, that's why he/she has put that price on it.

 

[Spade]

But the thing is, I don't know how to explain to the domain owner that his asking price is a bit unreasonable and that his domain really isn't worth that much. How would you deal with this situation? I'd appreciate any help

Don;t bother. Whenever someone tries to convince me a domain name I own Isnt worth what Im asking for (because they want to buy it) I laugh uncontrollably. Clearly its worth something to them.

Ironically I just had a buyer tell me that. Eventually he caved and paid me my full asking price when it was clear I wouldn't budge.

My recommendation? Pay him or Move on.

Justin

 

[Barts]

Wow, thanks for all the wise words! Really appreciated. I'm going to try Rhinoz idea of showing some similar domains and then I'm going to do him a counter offer. If he doesn't bite, I'll do what most of you recommend: move on to another domain.

Thanks again!

 

[tinner666]

Personally, I would have just said I had 3 choices and the other 2 were free to reg., so Thanks anyway.