How to Respond to a Seller of some good Domain Names

[DnPresident]

How to Respond to a Seller of some good Domain Names.

I've been staying in touch with an sweet 89 year old person over the last 6-8 months. As I looked up the Whois of a particular domain name I wanted and still want to my amazement the owner lived within walking distance from my house. So I called them and talked turkey about me acquiring the name. $1,200 they said, very fair to say the least..... BUT come to find out between 1997 and 2002 they also registered 3 three character.coms that are as good as you'll find in this particular pattern, I would guess $2,000 each but I could be a little low..

Instead of purchasing the one original name, I now want them all. The person says they'll talk to her family and come up with a price....weeks go by and I email (avoiding the phone this time) and still they aren't sure. I stay in contact about once every 6-8 weeks or so.

Okay, about 6 weeks ago I start putting a little pressure on (remember 89 gotta be easy) giving a little scence of urgency but not wanting to show I'm absolutely melting over these names. Three days ago, I get the email I've been waiting for.

WELLLLLL, they got the bright idea to contact an registrar/appraisal service and at least one of the 3 character names was appraised at $30,000

They will let only 2 of the 3 three character names go plus the one original word I wanted for an initial asking price of $15,000..I'm thinking $5,000 at the very most but it's been 3 days and I have not responded...

I'm thinking of responding with a request that they break down the $15,000 price by putting the asking price of each of the three names and how they come to the amount of $15,000. Should I also remind them of the original $1,200 asking price for the original name maybe not giving them the opportunity of raising the price?

What is my next step or do you think they are going to be firm with the $15,000 giving me no option but to drop it.

 

[mhdoc]

I suspect it's a dead deal. The fear of looking dumb by letting you "steal" the names will keep them fixated on the appraisal proce. Besides, the only appraisal service they have any experience with is real estate and everyone knows those appraisals are so good even the bank accepts them

 

[bigfoot]

I suspect it's a dead deal. The fear of looking dumb by letting you "steal" the names will keep them fixated on the appraisal proce. Besides, the only appraisal service they have any experience with is real estate and everyone knows those appraisals are so good even the bank accepts them

Great response! I suspect very much true.

 

[DnPresident]

Yeah I'm thinking she really believes the outrageous appraisal prise is the true value.

I suspect it's a dead deal. The fear of looking dumb by letting you "steal" the names will keep them fixated on the appraisal proce. Besides, the only appraisal service they have any experience with is real estate and everyone knows those appraisals are so good even the bank accepts them

 

[sashas]

I think you should've offered them a deal rather than asking for their price. If you think the 3 char .coms were worth 2k each, you should've offered them 5000 straight ahead, then and there for all of them (plus the first original name). I'm pretty sure that most people would have a hard time declining an offer of $5000 cash, especially if they don't know the value of what they're selling.

I fear you may have lost the deal now.

Btw, you can do one thing...dig up some of your own sales of names that get very high appraisals but sold for a lot less (I'm thinking something like Na2.net, etc. These get appraised very high generally, but of course sell for $20). Then show the appraisal to the seller, and then the actual selling price. Then tell her how appraisals are over inflated because companies want to increase their own profits, etc. Its a long shot, but it might bring down the price by a few thousands

 

[floatingworld]

If you were her professional domainer advisor what would you advise her to do?

 

[accent]

If you were her professional domainer advisor what would you advise her to do?

If you still have her confidence, at least to a degree, you could take that approach. Let her/them try to sell the domains for the appraisal price (they likely will have no idea how to do so) then explain how domain auctions work. Let them choose if they want to auction the domains or accept your price. If they auction them then at least you would have a shot at them.

 

[sashas]

If you still have her confidence, at least to a degree, you could take that approach. Let her/them try to sell the domains for the appraisal price (they likely will have no idea how to do so) then explain how domain auctions work. Let them choose if they want to auction the domains or accept your price. If they auction them then at least you would have a shot at them.

thats just about the best advice on how to deal with this issue. At least you have some chance of getting the name. Unless she has some excellent name, I"m pretty sure she'll have one hell of a time selling it off.

 

[NameCharger]

Man, you should think about changing your name from DnPresident to DnStalker Not even 89 year olds are safe! :kickass:

Ask her where s/he got the appraisal.

Then suggest that s/he give the appraisal company first right of refusal for a purchase price based on 1/2 the appraisal value and see if they bite. (you have nothing to lose from this because at this point you're off of the negotiating table)

We know the appraisal company won't bite which should give you more of a leg to stand on.

Then flash cash, ready to deal now.

 

[kiwi]

Age doesn't play into this, if you ask me, other than they are fortunately still wise enough to recognize the value of their assets.
I would make an offer within your "box" with an expiration date prior to year's end and back away until then.

You may still succeed - good luck !

 

[lzy]

Or you can pay him a visit, explain how everything works and maybe you'll make a new friend. Of course, letting him know beforehand. :hehe:

 

[BinderGang]

What you should have done, was taken the original deal, before acquiring about anything else.

Than, after a smooth transaction, they would have had trust in you and would have gladly taken any reasonable offer for the other domains, as it would be easy money without any hassle.

And I have to give props to an 89 year old being on the ball and staying up to date with technology and investments. Most 89 year olds wouldn't understand "domain name", even if you explain it to them. This person not only bought them, but held onto them!

 

[RogueWriter]

You can research and show sales of similar domains. That at least would knock the price down to a 'fair' price, although you lose out on most of your margin that way.

 

[DnPresident]

Thank you BinderGang,

I agree totally and was already on line with your thoughts. I also have to give props to an 89 year old being on the ball and staying up to date with technology and investments "That's beautiful"

You are also correct, --I should have purchased the original $1,200 name but wanted them all ~Greed?


After reading everyone's responses I feel it can't hurt to at least ask that the price of $15,000 for the three be broke down to each name. Then go forward with a counter offer.

What you should have done, was taken the original deal, before acquiring about anything else.

Than, after a smooth transaction, they would have had trust in you and would have gladly taken any reasonable offer for the other domains, as it would be easy money without any hassle.

And I have to give props to an 89 year old being on the ball and staying up to date with technology and investments. Most 89 year olds wouldn't understand "domain name", even if you explain it to them. This person not only bought them, but held onto them!

 

[htmlindex]

What I can't believe is an 89 yr old that has gotten into buying domains, wow!

Yeah, you could ask her for a breakdown of the price of those 3 domains then counter from there.

 

[DnPresident]

Yeah, But she was only 79 when she started... :hehe:

What I can't believe is an 89 yr old that has gotten into buying domains, wow!
.