discuss iBlock .com sold $50000. Lesson learned "Never underestimate the offer submitted by anyone."

[TERADOMAIN]

First of all thanks God, Family, & friends.

I am trying to share something here after long time. I am very grateful to this forum. This forum played very important role in my digital journey. I observed and learned as well as keep learning many things from this forum. I made and still making many friends from this forums regularly. I learned with time what to share and what not to share due to various circumstances. But I wanted to share something which may add some value in somebody's journey. We all learn and improve with time. Sharing is caring. Progress is never ending journey. Experience is our best teacher. Something we can experience ourselves and something we can learn from somebody's experience.

Let me share a little story of my following recent sale.


iBlock (.)com sold for $50000 via @DAN.COM


Some background story:

• I received $50000 offer via Dan
• I checked Country IP not looking promising
• I did not check person's name via Google who they may be
• It was early morning when I checked because the offer came late-night.
• I accepted offer thinking if the offer is fake Dan will ban the buyer and he won't submit fake offers to someone in future.
• Next day I got email about Dan sent buyer a payment reminder. This is very normal.
• Suddenly after 48 hours I got email from Dan that they received payment from buyer.
• I couldn't believed initially because I thought it was fake offer. I realized what did I do?? I made a mistake because I always try to negotiate with someone. I converted many $500 to $2500 opening offers into High $XXXXX to Low $XXXXXX successful deal.
• Couple people / friend suggested me to cancel the deal. But I said nope I am not going to do that. Knowingly / Unknowingly I agreed to the deal and I always honor my commitment. We need to have ethics, morality, and good intentions in life. I give high importance to those qualities in life and I do practice that by improving slowly and gradually in life.
• I transferred name to Dan's Godadddy's account and completed the deal

Why I accepted the offer & Why I think I undersold it:

• Since sometimes been getting many odd offers via Dan which can be the case anywhere regardless of any type of landing pages we can use. So I do not think it's Dan's fault but yes I do think they need to improve something for sure.
• The main issue of getting these unrealistic offers of Seven to Eight figure because many times the buyer thinking they are submitting offers in their local currency. If we convert those figure from those countries to USD then conversion may end up around $XXX to $XXXX.
• So I got many real offers as well as many fake offers. When someone submitting offer whose country does not look promising then I accept their unrealistic offer and unclick the "Sold" checkbox under my settings at DAN. This way if they pay we have a deal and if not then Dan will ban them from future offer submission, but at same time our name is listed for sale instead of waiting for days to figure out if the offer was real or fake.
• I did received many fake and real offers recently. It was early morning and I didn't realized $50000 offer was not near my expectation because my expectation was low Six fig. iBlock was one of the best brandable Blockchain name in the market after BlockChain / Block / Chain etc. All of these names already sold for Deep Seven figure recently which leaves iBlock the available best Blockchain name in market.
• I did received many Low $XXXXX offers regularly on iBlock. So I knew we need to have patience to hold until someone knock the door with proper budget range.

My Mistakes:

• I accepted offer even the offer was not close to my expectation
• I accepted offer without some background study about who the buyer can be
• I love negotiation in general to improve my negotiation skill. But for some reason I accepted offer due to early morning unconsciousness.
• I had $50K minimum set at DAN & $100K minimum set at Afternic. It had no Bin. So in short I did not check I had 2 different minimum at 2 different platform.

Lesson Learned:

• Always learn about who the potential buyer can be
• Always counter offer to taste the water
• Do not participate in negotiation unless you are fully conscious of what you are doing. LOL
• Negotiate with facts and data to bring the best possible results.

I hope this story may be useful to some friends here. I will be very happy even if this story brings better results for at least 1 friend or more. @AbdulBasit.com @Bob Hawkes @Nikul Sanghvi @Recons.Com @James Iles @Rob Monster @Riz M. and many other friends sharing many things which is helpful to others. So I thought let me do my little part.


Thanks

 

[blogspotter]

Lesson of the day "Always have your coffee before opening offers early in the morning"

 

[1Darko]

Great sale! Congrats and thanks for sharing.
Better 50k today than 100k in 5 years!

 

[Future Sensors]

Congratulations on your great sale and thanks for sharing @TERADOMAIN

Especially what you wrote about ethics is important (you wrote: "Couple people / friend suggested me to cancel the deal. But I said nope I am not going to do that.")

Good to see this in practice

 

[Bob Hawkes]

Congratulations my friend on another truly amazing sale (and thanks for sharing the interesting story in so much detail). You are truly an incredible domainer, @TERADOMAIN , and we are fortunate that you are active here on NamePros.

Bob

 

[TERADOMAIN]

Great sale! Congrats and thanks for sharing.
Better 50k today than 100k in 5 years!

Agree totally $50K is better than $100K in 5 years. But here I accepted the offer without even trying. LOL

 

[TERADOMAIN]

Congratulations on your great sale and thanks for sharing @TERADOMAIN

Especially what you wrote about ethics is important (you wrote: "Couple people / friend suggested me to cancel the deal. But I said nope I am not going to do that.")

Good to see this in practice

Thanks. Yes I keep my life very simple. I do everything keeping ethics, morality, and right intention in the center.

 

[AbdulBasit.com]

First of all thanks God, Family, & friends.

I am trying to share something here after long time. I am very grateful to this forum. This forum played very important role in my digital journey. I observed and learned as well as keep learning many things from this forum. I made and still making many friends from this forums regularly. I learned with time what to share and what not to share due to various circumstances. But I wanted to share something which may add some value in somebody's journey. We all learn and improve with time. Sharing is caring. Progress is never ending journey. Experience is our best teacher. Something we can experience ourselves and something we can learn from somebody's experience.

Let me share a little story of my following recent sale.


iBlock (.)com sold for $50000 via @DAN.COM


Some background story:

• I received $50000 offer via Dan
• I checked Country IP not looking promising
• I did not check person's name via Google who they may be
• It was early morning when I checked because the offer came late-night.
• I accepted offer thinking if the offer is fake Dan will ban the buyer and he won't submit fake offers to someone in future.
• Next day I got email about Dan sent buyer a payment reminder. This is very normal.
• Suddenly after 48 hours I got email from Dan that they received payment from buyer.
• I couldn't believed initially because I thought it was fake offer. I realized what did I do?? I made a mistake because I always try to negotiate with someone. I converted many $500 to $2500 opening offers into High $XXXXX to Low $XXXXXX successful deal.
• Couple people / friend suggested me to cancel the deal. But I said nope I am not going to do that. Knowingly / Unknowingly I agreed to the deal and I always honor my commitment. We need to have ethics, morality, and good intentions in life. I give high importance to those qualities in life and I do practice that by improving slowly and gradually in life.
• I transferred name to Dan's Godadddy's account and completed the deal

Why I accepted the offer & Why I think I undersold it:

• Since sometimes been getting many odd offers via Dan which can be the case anywhere regardless of any type of landing pages we can use. So I do not think it's Dan's fault but yes I do think they need to improve something for sure.
• The main issue of getting these unrealistic offers of Seven to Eight figure because many times the buyer thinking they are submitting offers in their local currency. If we convert those figure from those countries to USD then conversion may end up around $XXX to $XXXX.
• So I got many real offers as well as many fake offers. When someone submitting offer whose country does not look promising then I accept their unrealistic offer and unclick the "Sold" checkbox under my settings at DAN. This way if they pay we have a deal and if not then Dan will ban them from future offer submission, but at same time our name is listed for sale instead of waiting for days to figure out if the offer was real or fake.
• I did received many fake and real offers recently. It was early morning and I didn't realized $50000 offer was not near my expectation because my expectation was low Six fig. iBlock was one of the best brandable Blockchain name in the market after BlockChain / Block / Chain etc. All of these names already sold for Deep Seven figure recently which leaves iBlock the available best Blockchain name in market.
• I did received many Low $XXXXX offers regularly on iBlock. So I knew we need to have patience to hold until someone knock the door with proper budget range.

My Mistakes:

• I accepted offer even the offer was not close to my expectation
• I accepted offer without some background study about who the buyer can be
• I love negotiation in general to improve my negotiation skill. But for some reason I accepted offer due to early morning unconsciousness.
• I had $50K minimum set at DAN & $100K minimum set at Afternic. It had no Bin. So in short I did not check I had 2 different minimum at 2 different platform.

Lesson Learned:

• Always learn about who the potential buyer can be
• Always counter offer to taste the water
• Do not participate in negotiation unless you are fully conscious of what you are doing. LOL
• Negotiate with facts and data to bring the best possible results.

I hope this story may be useful to some friends here. I will be very happy even if this story brings better results for at least 1 friend or more. @AbdulBasit.com @Bob Hawkes @Nikul Sanghvi @Recons.Com @James Iles @Rob Monster @Riz M. and many other friends sharing many things which is helpful to others. So I thought let me do my little part.


Thanks

Congrats again Hiren bhai

The best thing is whenever you share, you just give out everything and there is always something valuable to learn from it.

"Do not participate in negotiation unless you are fully conscious of what you are doing."

This made me laugh out loud

Best wishes!

 

[TERADOMAIN]

Hi

i can appreciate, and do thank you, for sharing the details.
Congratulations! and enjoy the profits.

however....


i think the above quote, was the mistake, that led to the sale.

as it reads like > you assumed the offer was fake, even though you trust or have confidence, in the platform where offer was received.
additionally, if you felt name was worthy of $50K min. and someone offered that amount, then why would you think it was fake offer?

if someone offered $25K and you negotiated up to $50K, would you think that potential was faking it?

just asking, as i'm wondering how you assume which offers are fake and which are not.

imo....

• I did receive many fake and real offers via DAN. I used my rough judgement because country from where I received offer I never completed any deal from buyer of that country.
• Just yesterday DAN canceled $50K deal due to buyer accepted counter offer but they didn't complete the transaction.
• Sometimes our little experience tells us if that offer looks real or fake. Plus it was early morning. I think I shared many minute details around the deal. ROI wise I am very happy but I sold less than my expectation without trying was my mistake.

 

[TERADOMAIN]

I'm sorry, but you made $50k off a domain and are saying it was a big mistake to not counter that?? :/ I get what you mean, but the buyer could have easily said no, 50k was enough now you're just being greedy, I'm not interested..?? I am new to this but 50k seems very fair, especially if you paid less than 1k for it.

Good job though man, really.

Edit: Okay, I read the rest, I understand but $50k aint bad bro haha

Thanks. Dear friend you will understand more when you trade more stuff as buyer and/or seller. I am not regretting anything in life. I cherish everything. God is so kind to me. I am just sharing with other friends not to make same mistake I made. It's about sharing is caring.

 

[AEProgram]

Amazing name, thanks for going into all the fine details, it's very helpful.

 

[TERADOMAIN]

Congratulations on the sale and thanks for sharing I agree that you probably could have gotten more, but I honor your decision to complete the deal after accepting the bid - Can you share what you bought the name for?

Thanks. Paid $XXXX for name few years ago.

 

[TERADOMAIN]

Great sale Teradomain and thanks for sharing your story.



Do you think so? Sure i'd take $50k now, if i didn't know i was going to get $100k in 5 years.

But if someone from the future told me "your going to get a $100k offer for this domain in 5 years" GUARANTEED I'd turn down the $50k offer and wait.

That's $10k its making per year interest, you can't make that interest a year having 100k in an ISA account

Thanks. I agree with you as well with different scheme of thought. But I would rather take $50K today instead of waiting for $100K after 5 years simply because my thought is "Trade, upgrade, & repeat". I can reinvest into something and repeat the cycle few times to stand even further than $100K.

 

[sharastar]

Congrats on this awesome domain sales @TERADOMAIN .

Your honesty and integrity would be a an great example for everyone to follow in our business dealings .

Also thanks for sharing your story of the this wonderful domain sale with us .

 

[TERADOMAIN]

Be happy and move one.
Imagine what will you get if you list the name here in the $1 auction section?

I am very happy dear friend.

Experience is our best teacher. We learn from either our own experience or somebody’s experience. I am ok to leave money on table and I did it on numerous occasions because one of my uncle taught me “It’s ok to regret after selling instead of holding something for long and regret later”. I just shared this story so other friends may learn something from it.

Thanks

 

[biggie]

I accepted offer thinking if the offer is fake Dan will ban the buyer and he won't submit fake offers to someone in future.

Hi

i can appreciate, and do thank you, for sharing the details.
Congratulations! and enjoy the profits.

however....

I accepted offer thinking if the offer is fake Dan will ban the buyer and he won't submit fake offers to someone in future.

i think the above quote, was the mistake, that led to the sale.

as it reads like > you assumed the offer was fake, even though you trust or have confidence, in the platform where offer was received.
additionally, if you felt name was worthy of $50K min. and someone offered that amount, then why would you think it was fake offer?

if someone offered $25K and you negotiated up to $50K, would you think that potential was faking it?

just asking, as i'm wondering how you assume which offers are fake and which are not.

imo....

 

[wwwulff]

Congratulations on the sale and thanks for sharing I agree that you probably could have gotten more, but I honor your decision to complete the deal after accepting the bid - Can you share what you bought the name for?

 

[ddesigns]

Congratulations, indeed an excellent sale. I am sure you will make more money with this 50k in coming few years and we will have a new thread from you to read and inspire...

 

[TERADOMAIN]

Congratulations, indeed an excellent sale. I am sure you will make more money with this 50k in coming few years and we will have a new thread from you to read and inspire...

Thanks. I do share my sales with friends privately instead of sharing everything publicly. Here I learned very good lesson which may be helpful to someone. Hence I shared this story. Saleswise been doing very good since last few years. Really appreciate your thoughts.

 

[TERADOMAIN]

Congratulations my friend on another truly amazing sale (and thanks for sharing the interesting story in so much detail). You are truly an incredible domainer, @TERADOMAIN , and we are fortunate that you are active here on NamePros.

Bob

Thanks Bob. I really appreciate your selfless sharing. I am not doing what you been doing since long time. I just tried to do my little part.

@Silentptnr is another friend who been sharing many things selflessly.

You are true gem for the community. Thanks

 

[Silentptnr]

I just read the story on a website. Congrats friend! Another great sale!

 

[Recons.Com]

@TERADOMAIN , amazing story! Congrats on the sale. I agree that integrity and learning is more important than maximizing income for each separate deal.

What you are doing is a great inspiration for those that get discouraged by the thought of being too late too the party with all the good opportunities long gone.

 

[Kingslayer]

Great sale Teradomain and thanks for sharing your story.

Better 50k today than 100k in 5 years!

Do you think so? Sure i'd take $50k now, if i didn't know i was going to get $100k in 5 years.

But if someone from the future told me "your going to get a $100k offer for this domain in 5 years GUARANTEED" I'd turn down the $50k offer and wait.

That's $10k its making per year interest, you can't make that interest a year having 100k in an ISA account

 

[Skyvisum]

Hiren,
Always have respect for you in this business .You are a humble and honest investor. I have learned and still learning from you and so many others.
I know that feeling of leaving too much money on the table, we learn and get better from the experience.

Thanks for sharing .
Wishing you more sales as always.

 

[johnn]

Be happy and move one.
Imagine what will you get if you list the name here in the $1 auction section?