NameSilo

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

Labeled as discuss in Domain Selling and Domain Sales, started by TERADOMAIN, Jun 4, 2021

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  1. YairDD

    YairDD I'm cool, I think? VIP

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    Understandable.
    Congrats!
     
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  2. Sutruk

    Sutruk Top Contributor VIP

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    Congrats for the sale! (y) Although you expected a bit more, $50,000 is a very good number for your investment. (y)
     
  3. Catalyst01

    Catalyst01 Established Member

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    Congrats and thanks for sharing this insight. I was just wondering how much you got this domain and how long it took to sell it. Would you be kind enough to enlighten me on the need why you should know who the buyer was when it was not a direct sales from you but through Dan? Sincerely speaking, thats a sweet name. Hope you made a good ROI on it to enable you make another huge investment. Thanks for sharing
     
    Last edited: Jun 8, 2021
  4. TERADOMAIN

    TERADOMAIN QualityNames.com VIP ★★★★★★★★★★

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    Thanks. Please go through the threads and various responses. You will find answers for most of your questions.
     
  5. DomainBarracksRob

    DomainBarracksRob Top Contributor VIP

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    @TERADOMAIN Thanks for sharing this valuable lesson and info! Also congrats on the $50k pay day none the less.

    Funny it can go both ways, I once declined a starting 100k offer on a name, assuming it was a joke and told them further actions like this will get you banned from dan. LUCKLY ( I HOPE) this was for a .GG LOL so I assume it was a safe move on my part. When it comes to a Good .com I'll have to take every offer serious at first, and of course have my morning coffee :P

    That was and is a fantastic name for the niche
     
  6. ASHOK MOHANTY

    ASHOK MOHANTY Established Member

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    I agree with you!
    Two weeks back I received an lower $XXXXX offer for CarsBazaar.com and negotiated it to high $XXXXX, the buyer accepted the offer but didn't pay.
     
  7. bulkdomainz

    bulkdomainz Top Contributor VIP ★★★★★★★★★★

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  8. domainpizza

    domainpizza Tasty Pricing Gold Account ★★★★★★★★★★

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    I say you have done very well.:xf.smile:
    Personally , I would go invest some of my profits at DotCrucible.:xf.laugh:
     
  9. SamQuino

    SamQuino Upgraded Member Gold Account

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    Congrats on this $50k domain sale, and Thanks for sharing this experience. It's very inspiring and informative.
     
  10. FMy

    FMy NameRobin.com Gold Account

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    Congrats and thanks for the post.

    Usually I do respond humbly to every offer I receive, even if I'm not interested. But to be honest, sometimes the fake offers and non-payments are frustrating. Your experience will remind me to be more patient in all these cases going forward.

    All the best wishes.
     
  11. Catalyst01

    Catalyst01 Established Member

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    Thanks
     
  12. Kris88

    Kris88 Established Member

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    wow awesome work, thats a hell of a domain, luckily the purchase was legitimate
     
  13. ArunD12

    ArunD12 New Member

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  14. likemike

    likemike Established Member ★★★★★★★★★★

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    Great sale! And despite what some might say I think it's a very good price.
     
  15. Exposer

    Exposer Established Member

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    Unexpected world this domain names trading. After SEDO, Alter i placed my domain ebonygangbang.net at BROKER.XXX and after 2 days i got an offer of 3999$. So, whats the point ? The market in domain trading is at one point unpredictable except 3L and 4L...but you never know. What i learned also is the fact that you need time and strong nerves in domain trading. If you are in pressure of fast money DO NOT START THIS BUSINESS !
     
  16. alcy

    alcy Top Contributor VIP

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    I guess u are victim of Dan's general reputation whereby there are there more nonpayers than elsewhere.
     
  17. ReallyBigIdea.com

    ReallyBigIdea.com Established Member

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    received an offer $125 for Blocks1.com to sell or not? maybe someone from block.one ?
     
  18. alcy

    alcy Top Contributor VIP

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    I like .one... do u know what they paid this domain?
     
  19. alcy

    alcy Top Contributor VIP

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    well no. if buyer makes first offer 50k..and seller accepts then it's only good price for buyer.
     
  20. MyDomgard

    MyDomgard Upgraded Member Blue Account

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    fine! don't you think you worked a lot and earned little for it?
    50k is little for iBlock ... com
    Regards!
     
  21. Digitman

    Digitman New Member

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  22. Deven Patel

    Deven Patel Founder, Alter.com Blue Account

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    Congrats on the sale! $50k was a great return. No need to regret it.

    The internet is very biased towards exceptions. We only hear about the 1% of success stories where the seller generated 1000X ROI. Because of that, we automatically start to think anything less is a failure or not enough.

    Humans are super vulnerable to unrealistic optimism. Sure, there was a small chance you could've made more but there was a larger probability you could've ended up with nothing. Here's why:
    • Buyers are often fickle. If you give them too much time to think or try to over-negotiate, you risk losing the sale altogether.
    • The domain was idle for over 20 years before you purchased it. There was no guarantee how long it would've taken for another serious buyer to come along.
    • It was a very good price considering the comparables. In fact, most appraisers would've priced it less than $50k.
    • The domain market is very supply heavy with nowhere near as much demand (20+ million inventory vs 1-2% average STR). There are countless other names with the keyword "block" available in the $2-3k range.
    • The name has a number of registered trademarks in various categories like computers, hardware, software, education, vehicles, construction, etc. These would generally be a showstopper for buyers looking to spend five figures on a name.
    • The "i" prefix devalues the name a bit because most people automatically associate it with Apple.
    My point is.. a lot more could've gone wrong than right so you should appreciate it. It's a huge win! :)

    P.S. I can't help but think that you would've benefited more by assigning a BIN price to the domain. More about the buyer mindset here if you're curious.
     
  23. jim h

    jim h Top Contributor VIP Gold Account

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    It's really a great name.Fake offers are always annoying.
    I think we have to set the price carefully. A lot of times we are controlled by emotions.
     

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