debate How to make a 7-digits domain sale !

[Cyril.Best]

DPs,

I create this thread because I start to understand one big paradox of this industry.

Everyone has its own chapel and certitudes on everything whatever is domain name appraisal, dotcom vs ngtld, blablabla ... - why not ?

But the reality is that only few of you as already sold something for 7-digits in his/her life to a buyer - whatever it's a domain name or anything else.

The first time, I had this chance, I was 20 years old (a long time ago, I was very lucky because it was not just a domain - it was a full website, a marketplace, but I learned something for the rest of my business life :

What makes the price of a domain name is not the domain itself (whatever is the name or the extension) - it's the buyer - it's the business opportunity or the threat for the buyer !

All the rest : sales tactics, story, emotions .... are pure cosmetics and/or bullshit to go to the deal.

So, to answer the initial question : How to make a 7-digits domain sale ?

The right answer is : Don't chase after the perfect domain, chase after the perfect buyer !

and then bring the perfect domain to your buyer.

You will see - price will then be secondary at the end of the game.

Hope it helps.

All the .Best,

CF

 

[frank-germany]

@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.

I said:

don't report a sale
until the money is in your bank account


-if that was somehow unclear-

 

[Josh R]

Shilling your own extension with fake sales. Nice.

Need more regulation to make this kind of behavior illegal! I’m over it.

What’s worse is all the people that buy into the BS and waste money on a .Best... which by the way, makes absolutely zero sense as a domain extension.

 

[DOMAIN ILLUMINATI]

[...] ...and waste money on a .Best... which by the way, makes absolutely zero sense as a domain extension.

No, in fact it's actually .com(mercial) that makes (from a semantical / grammatical view) absolutely zero sense as a domain extension but people still buy it hahaahaaa

 

[Michael]

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.

Thanks for the tag, I hadn't seen this thread. We don't sign NDAs under any circumstances. I'm not really sure why it would even be needed. If the buyer consents to having the sale reported then Cyril can have them reach out to us and provide whatever info we need from their end, that way GDPR isn't a factor.

I wouldn't report any of the sales mentioned in this thread based on screenshots alone. I would need to see contracts/invoices, see evidence of a wire transfer, and I would initiate a conference call between either the buyer or seller and his bank to confirm the details of the wire are legitimate. Normally I wouldn't go quite that far, but I don't get good vibes when someone considers a letter of intent to be a done deal.

 

[NameJi]

No, in fact it's actually .com(mercial) that makes (from a semantical / grammatical view) absolutely zero sense as a domain extension but people still buy it hahaahaaa

You are right. In my opinion, left side of the dot should be the business name and right side of the dot is type of business.

For example:
CompanyName.COM --> it's Commercial.
CompanyName.ORG --> ORG
CompanyName.AI --> AI company
CompanyName.TECH --> tech company
CompanyName.VIDEO --> video site
CompanyName.Shop --> ecom online shop
CompanyName.APP --> app landing page
CompanyName.BEST --> best content site

IMO leftside + rightside (of dot) together need not sound grammatically correct. Because people already aware of the same in .COM, .ORG, .XYZ etc

 

[DOMAIN ILLUMINATI]

You are right. In my opinion, left side of the dot should be the business name and right side of the dot is type of business.

For example:
CompanyName.COM --> it's Commercial.
CompanyName.ORG --> ORG
CompanyName.AI --> AI company
CompanyName.TECH --> tech company
CompanyName.VIDEO --> video site
CompanyName.Shop --> ecom online shop
CompanyName.APP --> app landing page
CompanyName.BEST --> best content site

IMO leftside + rightside (of dot) together need not sound grammatically correct. Because people already aware of the same in .COM, .ORG, .XYZ etc

Sure, I fully agree on that.

The TLD (top level domain) works symbolically as a "label", "stamp", "checkmark" for the name / SLD (second level domain), thats why it is the TLD - that dominates the SLD (and all possible XLDs).

And therefore, as you wrote, the left side (of the dot) and the right side (of the dot) do not necessarily have to complement each other linguistically / grammaticallyyy

But of course, if they do - then it makes a domain name even more valuableee

Example:

The domain names

highest.name
highest.bid
highest.sale

are indeed more valuable than the domain names

highestname.top
highestbid.top
highestsale.top

and of course more valuable than the domain names

highestname.com / .net / .org / .biz / ... / .xyz
highestbid.com / .net / .org / .biz / ... / .xyz
highestsale.com / .net / .org / .biz / ... / .xyz

because they (the first list) are a "perfect" symbiosis of "left.right", they are "pure", without any "redundant" word.

PS
You forgot to write
companyname.top --> It's top.
at the top of your list.

 

[otismo]

Thank You !

Great Advice :

So, to answer the initial question : How to make a 7-digits domain sale ?

The right answer is : Don't chase after the perfect domain, chase after the perfect buyer !

 

[xynames]

Or, claim to have sold domains for millions before anything in fact has been sold.

 

[Eric Lyon]

There seems to be lots of .best and other new gTLD discussion here.

A few of the NP Insiders evaluated a .best domain asset the other day and the results were interesting.

Extension:
Like with all new gTLD extensions out there today, .best extension is no different in identifying the obvious value first. One can not prove the best new gTLD with a few evaluations on individual domain assets. Each one is different. You can't compare The.Best to Blogger.Best, just like you can't compare Up.Top to Blogger.Top.

We also can't cross pollinate and compare The.Best to The.Top with much accuracy, because both have slightly different target markets and audiences in different industries due to the word/phrase/combination.

The .best extension has it's combination premiums just like any other extension. However, not all new gTLD's are created equal and their premiums are sometimes limited by the number of cohesive and grammar friendly combinations that can be made.

A curve-ball domain is one that is not grammatically correct and does not play well with the extension chosen. The biggest issue with curve-ball domains is that the reseller is the pitcher and the curve of the ball makes it harder for a potential end-user to hit a home run when your pitch reaches their plate...

Source - VIP/Gold Only

 

[dande]

Both are important - perfect domain and perfect buyer. So, chase both!