Epik Escrow

How to make a 7-digits domain sale !

Labeled as debate in Domain Selling and Domain Sales started by Cyril.Best, Mar 11, 2019.

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  1. johnnie018

    johnnie018 Restricted

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    Anything to keep the new tld dream alive. .Best will bring you the endusers, directly to Namepros! Just keep registering!
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. Cyril.Best

    Cyril.Best Member .Best Staff Gold Account

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    Hi Frank,

    In fact, the question here is not to know if they want to buy more .best domains.

    Most of them do but this is not the objective of a such initiative.

    What we want to show here is .Best premium testimonials : I mean why successfull entrepreneurs that already own a .com domain for their trademark has choosen to buy a premium .Best names to promote their business/product/service in a different way than using a .com.

    Like I said earlier, we are not competing with .com and we will not. We never asked our end-users to replace their brand .com with a .Best. That would crazy and once again the ngtlds that have this strategy are going straight to the wall. On this, I think we all agree.

    What we show to our end-user if the value of an additional domain name to promote their business in another way. (The .best way i would say).

    Don't want to reveal all our sales tricks here, but for instance, one key argument in our sales pitch is that communicating on a "trademark" .com for your customers is great. But it's branding not sales/acquistion !

    Most of people that type-in or search for your brand.com in G, already know it and a minimum of what you're doing. But, now what if you want to acquired new customers for instance ? This is where is the .best opportunity for our end-users and so for traders.

    Plus, independently of the pure business perspective of a .best premium acquisition, we want also everybody to understand something that we share daily with our end-users in the emotional psychology of a .best deal and that is almost common to every entrepreneur : everybody wants to be the Best in its business ! And not only want to be but also want to claim it.

    This week, we just close the sales of another big premium deal with restaurant.best for instance. But in the psychology of a restaurant owner, its restaurants are as much important as its children. It's like their babies ! Without even counting how sensitive are its customers to its restaurants reputation.

    So, If think that this kind of testimonials could be a valuable information for all our .best trader to understand the psychology of .Best end-users and which .Best domains could be great.

    Hope it helps.

    Best,
     
  3. frank-germany

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

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    all you are doing is helping hugedomains sell their restaurantbest.com
    - a stupid domain, in my opinion, if your name is not Mr Best -


    this forum, in my opinion,
    is not meant for end users to verify their overpriced buying decisions
     
    Last edited: Mar 15, 2019
  4. Cyril.Best

    Cyril.Best Member .Best Staff Gold Account

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    Well Frank, it's funny but what you are describing here (.com + .best) is already part of our strategy and what we are actually developing with our registrars. I mean selling : a .com +.best through registrars to end-users.

    I like .com as you are : See for instance our recent communication on this : https://twitter.com/FremontCyril/status/1104873126708563968

    But there is reasons why we are only doing trading on the .best :

    - First reason, I would say : time ! A registry is not a trader. A journey of a registry is different. We are only working on the trading on BIG DEALS and mostly to end-users. Without counting that our social network intiative is taking a lot of our time right now. Dark side of the .best registry is that since 2 years we are working 24/24 - 7/7.

    - Secondly, I have the full .best inventory and not only the full inventory but also the .best names - I mean the best domains that can be sold for +$1M to the end-user and that I don't have to buy.

    - Furthermore, and because the lack of time or connection, in some case we sell directly .Best big premium names directly to traders.

    We did it recently for bank.best for instance. We just sell it to a trader but it's always on trader demand and for a specific name/deal : We don't chase traders - not our strategy.

    We chase end-users but we want to help our .Best traders to be successfull coz we know it's part of the global .best economy and the primary reason why I spent time here with you guys sharing info.

    My goal is not to converted you guys to the .Best.

    My goal is to show you our .Best Registry Reality and business opportunities.

    I think it's a big mistake that did all ngtlds leting the trading community on the side coz in the long-term strategy it's also a key to be successfull :"Give first, if you want to receive".

    I know that a lot of people (even in my team) wonder why I am here sharing key infos with you guys, but the ones that didn't understand it - don't really get the full picture of our business in the long play.

    In few days, we will even create a thread on "What .best domains you should absolutly not buy as a trader ?" - Funny for the .Best CEO isn't it.

    Hope this helps you better understand us - Feel free to ask about anything.

    Wish you the .best for all your trades.

    CF
     
  5. alcy

    alcy Top Member VIP

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    to me whats not normal is to introduce yerself in his way

    but that too is his right like u say...so everyone happy exercising their own rights... ;) and they all lived happily after...next.
     
    Last edited: Mar 15, 2019
  6. frank-germany

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

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    obviously, you try to convert every reply into a sales pitch

    I'm done
     
  7. frank-germany

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

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    ah forgot

    before you post that I don't get it

    you are right
    I don't think using or investing in a .best is a good idea

    but I got the idea of .com and .de in 1996
    what did you do in 1996?


    Your posts and answers here make it crystal clear to me:
    I will never register a .best domain nor will I buy one in the aftermarket

    here you can count on me
     
  8. Cyril.Best

    Cyril.Best Member .Best Staff Gold Account

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    Hi Frank,

    I am glad that you have this vision of being a .com / .de trader since 1996. I wish our traders can also say the same with .Best in +20 years.

    I don't think that it's really interesting for the community but as you asked, in 1996, I was not buying domains but developing the first e-commerce website of Fruit of the Loom for its retailers.

    As for the .Best domain, I can totally understand that you did not believe in "the best" (like I said I respect every position).

    I would just suggest that you probably update your website to be 100% align with your strategy.

    [​IMG]
     
  9. frank-germany

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

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    agreed

    that's funny...


    still I use a .com
    ( a .com that nobody will want to buy from me
    as I don't want to rebrand the system )
     
    Last edited: Mar 15, 2019
  10. KWNG

    KWNG Established Member

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    I take a few days off NP and see this thread title. I click on it. I read the first page. I skip to this page (7) and still no evidence of the mega sale. Disappointed. Btw I lurk alot 😊 well done on the click bait.

    Regards

    KWNG
     
  11. FEDOMAIN.com

    FEDOMAIN.com carpe diem Gold Account

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    really great sales tactics for .brand, Cyril!

    I mean, you started this thread to get domainer's awareness for .best domains, which now can be registered for $1.99, which again could push number of registered .best domains to higher scale, which would help you to go for an exit on .best - you get very active this year... I like it, if this was your idea.

    However, most of active .brand domains, seems to me like are acting like landers rather than brands, which means to me, that your customers' do not have enough trust to rebrand from their .com into .best realm. Imo, a .best domain use-case would be a home for comparison portals. But it's only my opinion.
     
    Last edited: Mar 16, 2019
  12. 3sixty

    3sixty Established Member

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    Trying to work out if I prefer to be the best or to rock. :S
     
  13. Cypherpunk

    Cypherpunk Upgraded Member Gold Account

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    Start a blog. There publish whatever science fiction history you want.

    .best has no sense (sorry, but somebody had to say it)
     
    Last edited: Mar 16, 2019
  14. ecalc

    ecalc Top Member VIP ★★★★★★★★★★

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    Congratulations, just a heads up that many people believe a sale is closed when the seller has the money and the buyer has the keys and title to the car/house/etc, last whois update for this one was 28-Nov-2018.
     
    Last edited: Mar 17, 2019 at 2:52 AM
  15. offthehandle

    offthehandle . Gold Account VIP

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    https://sedo.com/search/details/?partnerid=319804&domain=pete.best

    "BUY IT NOW BUY IT NOW - PRICE ONLY 1.000.000,00 (one million) EUR INSTEAD OF 1.000.000.000,00 (one billion) EUR If you want to buy this HIGH END ULTRA PREMIUM „.best“ - DOMAIN NAME immediately, you can BUY IT NOW for the stated BUY IT NOW - PRICE by submitting exactly this amount as your bid (acceptance - guarantee)."

    A bargain! 1 Million Euros!!!, I had no idea these .best were that valuable, I spoke too soon, man I just really messed up didn't I? So when you get it sold, if you might remember me and give me a 2% finders fee on that cool million, since you regged after you saw what I posted. hahaha. I won't hold my breath though. You didn't register Peter.best- you know he might like that better, unless he is petered out.
     
  16. frank-germany

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

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    original quote on sedo page

    HIGH END ULTRA PREMIUM „.best“ - DOMAIN NAME The perfect „pete / best“ - domain name, 100 %, worldwide.
     
  17. DOMAIN ILLUMINATI

    DOMAIN ILLUMINATI Owner of ▲ the most expensive domain of all time. Gold Account

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    🚩

    Sureee
    Bless you.
    And all those on your ignore list ;)
     
    Last edited: Mar 17, 2019 at 10:43 AM
  18. 3sixty

    3sixty Established Member

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    Hi @Cyril.Best,

    I appreciate the time you take to come here to talk about your extension. Was never on my mind before, so in the regard, it is working.

    But simply put, I am not convinced by .best. With my branding hat on, you do not usually say that you are the best, that is for the customer to decide. So I am struggle to position this.

    But convince me, can you share the premium sales numbers? I can't find them anywhere. Perception drills, but data kills.
     
  19. Cyril.Best

    Cyril.Best Member .Best Staff Gold Account

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    Hi @3sixty,

    I totally agree with you and this is why we decided to make a significant move in more transparency regarding our premium sales even if most our premium sales are/were already reported on all our twitter, facebook, instagram, or linkedin accounts. For the ones, that hadn't check them already.

    Just as a remember, we just took over the .Best on last July and just operate it since November - so very recently. So all our sales our recent (less than 6 months), if I could just say that.

    Nevertheless, regarding our premium sales, we did already significant sales since November (dating.best, bank.best, restaurant.best, ...)

    FYI, bank.best was sold for $100K to a french trader in Feb 2019, restaurant.best was just sold to a restaurant owner (end-user) this week also for $100k this March.

    These 2 sales will be reported to namebios soon. Buyers will even speak and explain the reasons of their .Best choice once deals will be reported to namebios. (Actually preparing buyers ITW)

    Plus, I want also to let you know that as a registry, we also refused many premiums demands over the last months (because we were considering that the proposed price was too low like for sex.best for instance) or received engagement letters like for hotels.best/hotel.best that we still not have accepted coz we thought that the delta between the .com equivalent sales (in this case $11M for hotels.com) and the formal proposal that we received ($1M in this case for the couple hotels.best/hotel.best) were still too far.

    As for reporting, we did not report any of our sales to namebios (for the moment) just because ... we did not even know about namebios.

    I know it can seem surprising for the trader community but Registries and Traders are actually living in 2 different worlds and this is why I am here : to better understand your and give you as much information as I can to better discover our).

    So that, I recently contact Michael from namebios to let him know that we would like to report few big sales to namebios to give more trust in .Best to the community and will give him even direct access to the buyer in a full transparent due diligence process.

    So, we asked namebios to enter with us in a NDA process in order to conduct a strict due diligence of each .Best deal.

    As we are French (and a lot of our customers our European), we have a strong engagement with GDPR right now in Europe (for the ones that still ignore this).

    Without counting on our strict GDPR policy as an ICANN Registry coz I just want to reminds this also that before being a trader, we are firstly a Registry.

    So we are now just waiting for namebios to counter-signed our NDA to give them access to all registrants and .Best premium sales information.

    Hope this helps.

    Wish you the .Best for your future trades.

    CF
     
    Last edited: Mar 17, 2019 at 4:31 PM
  20. Cyril.Best

    Cyril.Best Member .Best Staff Gold Account

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    Interesting quotes and thank you to give me the opportunity to speak about brand domains.

    Like I said earlier in many ITW, we absolutly don't want brands to buy and use a .best instead of their .com.

    All ngtlds that want big brands replacing their brand.com with a brand.ngtld domain are wrong.

    A lot of brands already bought their .Best but as a protection. (amazon.best, chanel.best, bmw.best, rollsroyce.best, ...)

    This is why we create the .Best protection program : https://www.brands.best

    Coz guess what, we don't want brands to buy .best domains for their trademarks, but we want brands to block registration at the root and not allow any other registrant to use their trademark in a brand domain. (not the same)

    This is where our vision/strategy completly differ from all other generic ngltds (.online, .global, .xyz, ...) if I could say.

    We want end-users to buy .Best domains on their products/services but not on their brands/trademarks.

    And this is why as such we are not competing with .com on the brands domains.

    Hope this helps to understand our .Best strategy for brand/trademark domains.

    Wish you the .Best

    CF
     
  21. xynames

    xynames XYNames.com PRO VIP

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    Pretty contradictory. Asking namebio to sign an NDA? Asking namebio to report the sale?

    Anyway I’m certain @Michael will verify anything as out there as a $100k sale for a non-dot com extension and merely “talking to the buyer” is not enough to verify anything. For something like this given all the hoopla nothing short of third party verification of transfer of funds could support the alleged sale.

    Again why anyone would pay 100k for bank.best or restaurant.best when equivalent extensions in these names were sold for:

    restaurant.ly sold for 600

    and come to think of it, Cyril says that the buyer of one of these is a French trader, but at the same time

    monrestaurant.fr sold for only 2787 (NOT $100K)

    and as well we aren't hearing anything more definitive about the million dollar hotel/hotels.best that was supposedly already sold.

    I actually like Cyril's good natured attitude but I think that he's at "best" referring to some sort of joint venture agreements that he is valuing at six figures versus any sort of straight cash deals.
     
  22. Cyril.Best

    Cyril.Best Member .Best Staff Gold Account

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    Hi @xynames,

    Want just to clarify few points on this.

    After entering our NDA, Michael will have access to all info regarding each deal : I mean contract/invoice, proof of payment/wire and even direct access to the buyer. This is why there is for us absolutly no debate that it will show the community what we did. Like I said we are 100% transparent on all our success and even failure coz it's the best way to market our TLD.

    But I would even say more : you will probably not like it and I think that our .Best haters will probaly hate it but objective traders will love it : we will make the buyers speak !

    Indeed, coz even if we think that registering our sales in namebios is the great move/step forward in the trader community, I am even more concerned to explain like as you said :

    Why anyone would pay 100k for bank.best or restaurant.best when equivalent extensions in these names were sold for restaurant.ly sold for 600 for instance.

    If i say it myself, you can always say that it's marketing and you know what I can even totally understand this point of view.

    So to avoid any steril debate : we will not only let Michael access to our .Best buyers but we will also make them speak (both traders and end-users)

    I already heared some of them : YOU WILL LOVE IT !

    PS : As for the hotels.best/hotel.best deal, I repeat it again and again for the ones that still don't want to get it : we received an engagement letter from the buyer and we still not decide/acccept the formal proposal for the moment because we still think that the deal with .com ($11M for hotels.com) is still far away from our offer ($1M for the couple hotels.best/hotel.best). Sorry if it is shocking for your ears but just as a reminder, I was shocked the same when Jan Koun (whatsapp) refuse a $1B deal from FB before he accepts a $19B deal. Like I said : pricing is a subjective debate in this kind of deal.
     
  23. wurdd

    wurdd Established Member

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    Are we talking US Dollars or Schrutebucks here?
     
  24. frank-germany

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

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    I have refused quite a few offers myself
    but have not publically posted the offer as a sale myself

    and I very well remember that 10.000 euro offer on a fresh handreg I refused
    a few years ago

    well .. I still own it
    no sale

    those claims don't make anybody more trustworthy
     
  25. Cyril.Best

    Cyril.Best Member .Best Staff Gold Account

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    @frank-germany - Frank, with all the respect that I have for you and your trades, refusing a $10K deal is a little much easier that refusing a $1M deal.

    Well, I would even argue that each deal is different and hard to refuse no matter what is the price asked.

    In this specific case for instance, it's not just about what amount of money a such deal can bring to the .Best but also in terms of marketing, usage at scale, branding ...

    If we were just a "classic" Registry or Trader, we probably accepted it already but with the hype of THE.Best social network, we have a different view on each deal valuation on the long play - that you can have on your side.

    This is why I can totally understand all subjective position regarding pricing but to better understand our position, and make a comparison we are like shareholders entering the NY stock exchange (= our social network initiative) and selling their shares (=domains) in the same time.

    In finance, it's not gonna play out with investors.

    Same thing here : we are just waiting to get closer to a higher valuation that will push the value of each of .Best domain higher on the market.
     

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