status-resolved Is an asking price the same as Buy It Now?

[Keith]

Hi all,

Just what the title says. If someone says they’re asking $10 for a domain and you agree to pay $10, is it binding per NP rules?

 

[Samer]

Keith linked a thread that showed worst of NP.

The title had “Asking $10k” in “make offer”. mind u, NP always let slide (specific # in offer)
Then someone posted right after Keith’s “Sold at ask price, begin escrow” — “I offer $11k”.

This rule should be enforced
(Honor your terms, “Asking for $10,000” wtf?
If you change it, grandfather Keith in.
Personally, i‘d give an infraction to the *** who posted $11K after Keith met the $10k “ask” pric
I forgot words mean nothing here.

From now on, ban specifc figures ask in “Offer”

 

[hawkeye]

Yes, "asking" can be seen as the start of negotiations.

if it's proceeded or followed by 'offers from' or 'offers starting at'. Just 'asking', is 'asking'.

 

[carob]

Weird because most of the time you think of an asking price as an optimistic opener for negotiations, a sort of ceiling price. Can an asking price be a floor price? Or is it automatically a binding offer to close the sale at that price, effectively a BIN price.

 

[Keith]

Weird because most of the time you think of an asking price as an optimistic opener for negotiations, a sort of ceiling price. Can an asking price be a floor price? Or is it automatically a binding offer to close the sale at that price, effectively a BIN price.

If I’m selling a car, boat, or whatever... the ask is the start. Usually it’s negotiated down but it’s understood that the asking price is what it takes to buy the item right now.

 

[carob]

If I’m selling a car, boat, or whatever... the ask is the start. Usually it’s negotiated down but it’s understood that the asking price is what if takes to buy the item right now.

Yes I would expect anyone to accept if I met their asking price... but without a formal definition somewhere I wonder if there are ever (legit) cases where people understand an asking price to be not binding.

 

[Keith]

Yes I would expect anyone to accept if I met their asking price... but without a formal definition somewhere I wonder if there are ever (legit) cases where people understand an asking price to be not binding.

Can you provide the difference between a firm asking price and a buy it now price? It’s really just use of language, not a difference of intent.

Maybe @jberryhill could shed light?!

 

[johnn]

We have many members who English is not a native language so it could be just a misunderstanding.

To me asking price = Buy It Now

You don't really need a lawyer for this case. Just make sure they passed the English 101 class before joining any forum.

 

[creataweb]

Asking Price = BIN imo

If you're asking $10k then that's the price you'd accept. Makes no sense to say "I'm asking $10k" then when offered that price you now want $15k instead.

When you see items for sale for example on Facebook MP you'll see "Asking $100 or best offer" - not "Asking $100 or maybe $200 I haven't quite decided yet."

 

[Samer]

We have many members who English is not a native language so it could be just a misunderstanding.

To me asking price = Buy It Now

You don't really need a lawyer for this case. Just make sure they passed the English 101 class before joining any forum.

This is the most international forum, johnn..

Nature of business, fix by enforced rules, not TOEFL test.

 

[equity78]

In the context of stock trading on a stock exchange, the ask price is the lowest price a seller of a stock is willing to accept for a share of that given stock. For over-the-counter stocks, the asking price is the best quoted price at which a market maker is willing to sell a stock.

Ask price - Wikipedia


In Lim v. The .TV Corp. Int'l. (Cal. Ct. App. 2002), an e-retailer offered the domain name "Golf.tv" for registration through its Internet website. The customer submitted a bid for the name and authorized the seller to charge his credit card for the amount of his bid. Although the seller sent the customer an email indicating that his bid had been accepted, the seller later argued that the email was sent by a technical error and no contract had been formed. The court found that even if the website announcement for the domain name was not an offer, but rather was an invitation to make an offer, the customer's bid was an offer that was accepted by the email response.

https://www.wilmerhale.com/en/insig...istakes-in-online-advertisements-june-30-2003

This case led many to incorrectly quote the sale price of Golf.tv for many years and then incorrectly quote again on the high side. But this was a famous case in domaining that most did not know the details. Actually Mrs Jello ended up with the name and purchased it as part of a package deal.

 

[equity78]

Can you provide the difference between a firm asking price and a buy it now price? It’s really just use of language, not a difference of intent.

Maybe @jberryhill could shed light?!

I think Keith it will come down to forum rules, I mean in real estate someone does not have to accept an offer at their asking price.
Home sellers aren’t obligated to accept any offer on their home—no matter how much money it’s for.1 There may be other offers on the table or, in some cases, they may want to hold out for more money. In these cases, a seller may reject an offer, even if it’s at or above their asking price.

https://www.thebalance.com/is-a-home-seller-required-to-accept-a-full-price-offer-1798984

But that should not come into play here, forum rules are the price asked confirms the deal someone says sold.

 

[Keith]

I think Keith it will come down to forum rules, I mean in real estate someone does not have to accept an offer at their asking price.
Home sellers aren’t obligated to accept any offer on their home—no matter how much money it’s for.1 There may be other offers on the table or, in some cases, they may want to hold out for more money. In these cases, a seller may reject an offer, even if it’s at or above their asking price.

https://www.thebalance.com/is-a-home-seller-required-to-accept-a-full-price-offer-1798984

But that should not come into play here, forum rules are the price asked confirms the deal someone says sold.

Yes I agree, forum rules. Also, the intent should be considered.

I want $1 and no response. Oops that was a mistake. I want $10 and a buyer says yes, I’ll pay that. The intent here is clear - I’m trying to sell and here’s what I want for the merchandise.

 

[wallet2it]

Sure, if you say you’re asking for offers that’s great. If you say you’re asking for a specific amount, that’s a buy it now price.

Maybe he should have said “asking around $10k”

 

[equity78]

All he had to say was taking offers min $10,000

 

[wallet2it]

All he had to say was taking offers min $10,000

Yeah maybe language

 

[equity78]

Yeah maybe language

I believe they are from Utah.

 

[branding]

Given the backstory the domain owner provided I don't think it's rocket science to understand in what way his 'asking price' should be interpreted.

Then again, if NP rules are different... Unless he specifically agreed upon your offer I don't see much room for you to pursue the acquisition as stated in the offer. And even so, what if he just decides to ignore any NP ruling? The domain is easily worth the $10K. If I were not tied to the domain industry trying to sell this name I would give fuck all about a domainer forum and walk away if people were trying to force a sale on me on the cheap.

 

[Keith]

Given the backstory the domain owner provided I don't think it's rocket science to understand in what way his 'asking price' should be interpreted.

Then again, if NP rules are different... Unless he specifically agreed upon your offer I don't see much room for you to pursue the acquisition as stated in the offer. And even so, what if he just decides to ignore any NP ruling? The domain is easily worth the $10K. If I were not tied to the domain industry trying to sell this name I would give fuck all about a domainer forum and walk away if people were trying to force a sale on me on the cheap.

Nobody is forcing anything.

My position is that NP should ban the user if the sale doesn’t complete and never let this seller list this particular domain for sale again.

Also, you say it’s worth x amount but haven’t offered to pay it in a binding way via the rules at this business establishment.

 

[equity78]

Given the backstory the domain owner provided I don't think it's rocket science to understand in what way his 'asking price' should be interpreted.

Then again, if NP rules are different... Unless he specifically agreed upon your offer I don't see much room for you to pursue the acquisition as stated in the offer. And even so, what if he just decides to ignore any NP ruling? The domain is easily worth the $10K. If I were not tied to the domain industry trying to sell this name I would give fuck all about a domainer forum and walk away if people were trying to force a sale on me on the cheap.

Well on this forum whether someone graduated with a degree in aerospace engineering the minimum requirement to become a rocket scientist.

You don't need that to read Melatonin.com - asking $10k means you are asking $10,000.

But I do agree with you a non domainer will not care about abiding by the rules of Namepros.

Most importantly you would not need to be a rocket scientist to know to seek someone like @Kate Buckley or Dave Evanson to sell this for you rather than a namepros thread.

 

[Keith]

But I do agree with you a non domainer will not care about abiding by the rules of Namepros.

They should care. It’s easy to find out who the owner is behind the mask. I might not let this go easily.

 

[branding]

Well on this forum whether someone graduated with a degree in aerospace engineering the minimum requirement to become a rocket scientist.

You don't need that to read Melatonin.com - asking $10k means you are asking $10,000.

But I do agree with you a non domainer will not care about abiding by the rules of Namepros.

Most importantly you would not need to be a rocket scientist to know to seek someone like @Kate Buckley or Dave Evanson to sell this for you rather than a namepros thread.

Lol, I totally agree I wouldn't have listed a name like this unless I was trying to get some exposure and would have let a broker handle the negotiations.

That being said, in a lot of asset trading an asking price does not equal BIN. I don't think NP is very clear on that, just saying.

But sure, obviously, if rules have been broken the user should be banned. No matter what the deal is, what amount, venue rules have to be followed and I think in general the mods do a very fine job.

 

[equity78]

They should care. It’s easy to find out who the owner is behind the mask. I might not let this go easily.

No I meant not care about getting banned from Namepros, hell over the years domainers have expressed to me it's just about money I don't care if Namepros bans me. On Sedo people used to say to me let them ban me Raymond I will be back with a new account, new email, new ip address in two days.

I mean yes you could go after them I was not saying that.

 

[branding]

Nobody is forcing anything.

My position is that NP should ban the user if the sale doesn’t complete and never let this seller list this particular domain for sale again.

Also, you say it’s worth x amount but haven’t offered to pay it in a binding way via the rules at this business establishment.

If asking price equals bin, yes. Totally. Not knowing a forum well enough is never an excuse to break tge rules. The seller should have done his reading up on the rules.

Basically it comes down to what the mods think about it and their stance would shed some light on how we should interpreted these kind of offerings in the future.

 

[Abdullah Abdullah]

They should care. It’s easy to find out who the owner is behind the mask. I might not let this go easily.

I understand where the mods are coming from. The thread is not in a fixed price for and the guy did not add a BIN. Normally, asking is a starting point as you already mentioned and I clearly sense the guy is aware of the value of the domain and his asking price is a sort of min/start price. Lets take into consideration the other guy who said he will offer 11K? Do you believe he didnt understand it?

With that said, I believe there is nothing you can do about this specially when you where negotiating through Pm offering 6,7K. Looks like you want the domain badly but I would say it is better you negotiate cause there is a competition for the name ,apparently. A make offer price that has a min like the forums here is not binding at all and the seller would need to accept. We see these everyday, people posting in minimum $500 forum for example, while this might seem a BIN, it isnt, the seller would need to accept and post in the thread sold or quickly close it.

 

[Keith]

If asking price equals bin, yes. Totally. Not knowing a forum well enough is never an excuse to break tge rules. The seller should have done his reading up on the rules.

Basically it comes down to what the mods think about it and their stance would shed some light on how we should interpreted these kind of offerings in the future.

It’s not about forum rules. The seller used language that they fully understand. I’m asking x amount.

It’s honest and fair to accept an offer at which you’ve said you’ll accept.