question How would you reply to this?

[legendarynames]

Upon engaging in a negotiation with a buyer, they asked me this:

1) How much did you pay for the domain?
2) Was hoping you could answer our question about what you hope to achieve with the sale? Is it just money, or something else?

Some background: the buyer represents a brand new organization with a 'noble' cause. Whether they are legit or not, I don't know. The domain was registered many years ago, but they might somehow think they're entitled to it (that's my guess).

I'm curious how people here would reply to this as it's rather uncommon that a buyer asks such questions.

 

[johnn]

1. I bought it 2 days a go so I don't remember.
2. Trying to sell to help the company gain the exposure on the internet. I am not in this for money.

 

[gilescoley]

I would say the following

We have a company policy that we dont release purchase prices to potential buyers for our names

We are a business so we sell domains for profit but we also love seeing our names being put to great use and companies benefiting from purchasing our names.

Its really none of their business but I'd be happy to answer if they ask nicely like that.

 

[karmaco]

What you paid or hope to achieve is irrelevant and frankly not their business . Sounds like a mind game to me.

Best to be diplomatic and state your asking price and that is all. I would not answer the questions as you are probably correct that they are trying to gain some upper hand.

 

[johnn]

The buyer is NP member.

 

[NYJimbo]

Was hoping you could answer our question about what you hope to achieve with the sale? Is it just money, or something else?

I could swear I've seen this question here before. Can't remember where.

 

[legendarynames]

What you paid or hope to achieve is irrelevant and frankly not their business . Sounds like a mind game to me.

Best to be diplomatic and state your asking price and that is all. I would not answer the questions as you are probably correct that they are trying to gain some upper hand.

I agree but I have this tendency of being explanatory. Here is my reply:

With regards to your first question, please don't misunderstand me, but I prefer not answering. As a comparison, if you were interested in a real estate or a car, rather than a domain, would you ask the seller how much they bought it for? It's slightly uncorteous and would make the other party uncomfortable.

(...)

With regards to your second question (...): yes, it's just money. Which is not to be underestimated because, as it turns out, companies need money to survive and, unless they are a charity and can ask for donations, the offering of products and services in exchange for a monetary sum is the way to go.

And their reply thereafter:

1) Yes, with real estate, cars, stocks, it's quite common to find out what it was last purchased at.

2) Correct, nothing wrong with selling for money. But not everyone sells for that reason. A lot of acquisitions happen for other opportunities (future financial gain, or otherwise).

(... )

We're not like other companies. So if we do a deal, it would need to take into account the mission of our company.

Thanks again. We'll discuss your offer with our board.

 

[SuperBrander]

I really like @gilescoley's answer. Very diplomatic and friendly. If you want something a little less friendly here's an option:

Hi again. Thanks for your message. While I understand that you want to try to negotiate the best possible price for the domain by having as much information as possible- what I paid for it and why I'm selling it isn't information that I will disclose. The equivalent would be asking you how much money you currently have in your bank account.

When you think about it, almost any merchandise or property that people buy is bought without knowing the price it cost to the manufacturer/current owner and why it's being sold. Ultimately, a transaction happens when something is worth buying for a certain price. If you're serious about purchasing the domain, I could be somewhat flexible so we could try and find a price we could agree on.

Thanks.

 

[karmaco]

I agree but I have this tendency of being explanatory. Here is my reply:

With regards to your first question, please don't misunderstand me, but I prefer not answering. As a comparison, if you were interested in a real estate or a car, rather than a domain, would you ask the seller how much they bought it for? It's slightly uncorteous and would make the other party uncomfortable.

(...)

With regards to your second question (...): yes, it's just money. Which is not to be underestimated because, as it turns out, companies need money to survive and, unless they are a charity and can ask for donations, the offering of products and services in exchange for a monetary sum is the way to go.

And their reply thereafter:

1) Yes, with real estate, cars, stocks, it's quite common to find out what it was last purchased at.

2) Correct, nothing wrong with selling for money. But not everyone sells for that reason. A lot of acquisitions happen for other opportunities (future financial gain, or otherwise).

(... )

We're not like other companies. So if we do a deal, it would need to take into account the mission of our company.

Thanks again. We'll discuss your offer with our board.

Both answers sound like you are on defense which is exactly what they wanted. Their mission has nothing to do with them judging your intentions.

If they approached you I would sit back and not chase them. I would not chase them either way but that is me.

If you notice their reply there is some hint of was your obtaining this domain for nefarious purposes. If they have a trademark those kind of words would concern me. If no trademark they are just self righteous.

 

[johnn]

Now here is the real answer.

1. We bought this name along with other names as a lot so we do not have the purchase price for a single one.
2. Our company is helping other companies by supplying to them with excellent names at reasonable price. We only gain a small profit from every sale and consider the profit as a small token for our commission.

 

[MapleDots]

Upon engaging in a negotiation with a buyer, they asked me this:

1) How much did you pay for the domain?

I would respond something like this.....

Cost on a singular domain is irrelevant when setting a selling price of a domain. The selling price is set proportionally to the demand of the domain as well as the cost to operate the entire portfolio. You are looking at the cost to maintain a single domain when the average domainer can own thousands of domains and hold them for many years before realizing a sale. So the selling price must reflect the true cost of running a business and not only the acquisition price of the domain.

 

[SuperBrander]

"We're not like other companies. So if we do a deal, it would need to take into account the mission of our company."

First of all, I think you answered well. Based on the quote above, the guy you're dealing with is full of himself (or full of something else). How is a domain purchase related to the mission of his company? Is paying money for things the company needs depends on the motivation of the seller or what they paid? Man, some buyers are just full of it. I hope you'll get the sale though.

 

[legendarynames]

"We're not like other companies. So if we do a deal, it would need to take into account the mission of our company."

First of all, I think you answered well. Based on the quote above, the guy you're dealing with is full of himself (or full of something else). How is a domain purchase related to the mission of his company? Is paying money for things the company needs depends on the motivation of the seller or what they paid? Man, some buyers are just full of it. I hope you'll get the sale though.

What I think they're trying to say between the lines is that I should be sympathetic to their cause and show some good will by lowering the asking price or simply giving it away in a demonstration of altruism.

I left it clear that I was annoyed with their questions to show that I don't care if they go away (which I really don't), despite the sale being relevant. At least that was my intent.

 

[SuperBrander]

What I think they're trying to say between the lines is that I should be sympathetic to their cause and show some good will by lowering the asking price or simply giving it away in a demonstration of altruism.

I left it clear that I was annoyed with their questions to show that I don't care if they go away (which I really don't), despite the sale being relevant. At least that was my intent.

Yeah, naturally they're looking for a lower price. But using this whole "we're not like other companies" shtick is just lame on their part. Not taking away from their noble cause, but this 'holier than thou' approach and pretending that they base purchases on the good will of the seller or whatever else they're trying to imply is quite ridiculous. In any business transaction, a seller shouldn't be expected to align with the buyer's agenda but some buyers think for some reason that sellers work for them and that transactions are all about them and what they need. Yes, I think you made it clear that you weren't very pleased with their questions and can do without this sale.

 

[dande]

I agree but I have this tendency of being explanatory. Here is my reply:

With regards to your first question, please don't misunderstand me, but I prefer not answering. As a comparison, if you were interested in a real estate or a car, rather than a domain, would you ask the seller how much they bought it for? It's slightly uncorteous and would make the other party uncomfortable.

(...)

With regards to your second question (...): yes, it's just money. Which is not to be underestimated because, as it turns out, companies need money to survive and, unless they are a charity and can ask for donations, the offering of products and services in exchange for a monetary sum is the way to go.

And their reply thereafter:

1) Yes, with real estate, cars, stocks, it's quite common to find out what it was last purchased at.

2) Correct, nothing wrong with selling for money. But not everyone sells for that reason. A lot of acquisitions happen for other opportunities (future financial gain, or otherwise).

(... )

We're not like other companies. So if we do a deal, it would need to take into account the mission of our company.

Thanks again. We'll discuss your offer with our board.

This people are not ready to buy anything. Period.

There are in it for inquisition propose or just messing with your head. I won't be surprised if it's a Namepros member that is messing with you.

 

[legendarynames]

This people are not ready to buy anything. Period.

There are in it for inquisition propose or just messing with your head. I won't be surprised if it's a Namepros member that is messing with you.

I think they want it as they are running on a new gTLD while I got the exact .com match of their name.

And NamePros members don't do that, we're all nice people here

 

[MapleDots]

I think they want it as they are running on a new gTLD while I got the exact .com match of their name.

And that shows that businesses may use the new gTLD's but ultimately they still want the com.

This happens again and again whereas the business might run on a .whatever but if they are successful in a lot of cases they will pursue the com. That is what we are all counting on and that is what we are all hopping for,

The OP has that scenario and therefore has the upper hand.

To the OP....

Play it wisely and make money, that is the only reason we do this, we are not in the charity business. You have real costs and real renewals, simply state that and ask them to come back when they are able to present you with an offer.

 

[dande]

I think they want it as they are running on a new gTLD while I got the exact .com match of their name.

And NamePros members don't do that, we're all nice people here

Yeah, I agree with you we are all nice people but not all the time.

Oh, didn't know you already found out who they are, but the whole line of questioning sounds fishy to me. The nearest questioning similar to this I've ever received was from 4.CN. And that was after the buyer had paid already.

They started some funny questioning like: "Did you register this name or you bought it? Provide us the receipt from the previous owner, etc." I was furious and just snapped the SEDO transaction history and sent to them. I finally got my money afrer 15days of delays and going around. Then I vowed never to sell at 4.CN again.

 

[dande]

Since you know they want it, it's your turn to play smart and be patient. They will come back. In fact, let them know that countless of others are interested in the name, and you are selling to anyone who pays first. That will put them under pressure.

 

[legendarynames]

Yeah, I agree with you we are all nice people but not all the time.

Oh, didn't know you already found out who they are, but the whole line of questioning sounds fishy to me. The nearest questioning similar to this I've ever received was from 4.CN. And that was after the buyer had paid already.

They started some funny questioning like: "Did you register this name or you bought it? Provide us the receipt from the previous owner, etc." I was furious and just snapped the SEDO transaction history and sent to them. I finally got my money afrer 15days of delays and going around. Then I vowed never to sell at 4.CN again.

That sounds like some extreme bulls*** and exemplifies the risk of using marketplaces in opaque jurisdictions. Imagine if you had to sue them in China...

 

[dande]

That sounds like some extreme bulls*** and exemplifies the risk of using marketplaces in opaque jurisdictions. Imagine if you had to sue them in China...

In fact, at a point, I almost gave up hope of ever getting the money. I will email like 10 times before I'll get a few words reply. I will call the account manager and she wouldn't pick my calls.

From my experience, I think China is the worst place to do business. If you are selling an important name and someone requested to use China Escrow, tell them it's either a mainstream USA based Escrow or nothing.

 

[DomainRecap]

I agree but I have this tendency of being explanatory.

It's a bad tendency, as you can see from the reply, which is the last thing you want to see.

"Yes, with real estate, cars, stocks, it's quite common to find out what it was last purchased at."

If you used the recommended "short, sweet, and no reply possible" answer, it would have worked out much better. If there is a question you're not going to answer, then close the door, and don't leave it wide open with a long-winded explanation.

"We have a company policy that we dont release purchase prices to potential buyers for our names"

What's he going to say to that, "please change your company policy"?

 

[frank-germany]

2) Was hoping you could answer our question about what you hope to achieve with the sale? Is it just money, or something else?.

unusual but valid question

they might be willing to offer you faim
instead of money

or public relations
or advertising space

they might not have the cash
but be willing to compensate you in a different way


you may or may not tell them what you paid
as that is completely unrelated to the sales price
it doesn't matter anyway

you may reveal the color of your car additionally

 

[kite26]

I would say the following

We have a company policy that we dont release purchase prices to potential buyers for our names

We are a business so we sell domains for profit but we also love seeing our names being put to great use and companies benefiting from purchasing our names.

Its really none of their business but I'd be happy to answer if they ask nicely like that.

That's why you are top member. I mean it.

 

[BrandZen]

I would say the following

We have a company policy that we dont release purchase prices to potential buyers for our names

We are a business so we sell domains for profit but we also love seeing our names being put to great use and companies benefiting from purchasing our names.

Its really none of their business but I'd be happy to answer if they ask nicely like that.

Good answer.