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?

 

[Rich]

I've always associated asking price with high end of your valuation, so you don't scare the buyer away. I would love to get my asking price for every domain. Sorry Keith, better luck next time.

 

[Keith]

I've always associated asking price with high end of your valuation, so you don't scare the buyer away. I would love to get my asking price for every domain. Sorry Keith, better luck next time.

Absolutely. The ask is a wish. This seller @Melatonin Purveyor is simply not an honest person.

 

[Keith]

I just accepted a $60,000 deal after the buyer agreed to my “asking price”. Never in a million years would I not honor the quoted price.

 

[capybara]

Do people even look into dictionaries these days?

The asking price of something is the price which the person selling it says that they want for it, although they may accept less.

https://www.collinsdictionary.com/dictionary/english/asking-price

the price at which something is offered for sale

Examples of asking price in a Sentence
The original asking price for the car was $20,000, but I was eventually able to buy it for $18,000.

https://www.merriam-webster.com/dictionary/asking price

the amount of money someone wants when they sell something, especially a building or a piece of land:

https://dictionary.cambridge.org/us/dictionary/english/asking-price

There should be no discussion about what "asking price" means, normally...

 

[Keith]

Do people even look into dictionaries these days?


https://www.collinsdictionary.com/dictionary/english/asking-price


https://www.merriam-webster.com/dictionary/asking price


https://dictionary.cambridge.org/us/dictionary/english/asking-price

There should be no discussion about what "asking price" means, normally...

This is the last post I’ll make here but the mods should have a serious look at the definitions of “asking price” and also the rules here at NP. I was robbed.

@Mod Team Bravo
@Mod Team Alfa @Mod Team Echo
@Melatonin Purveyor

Being new to a forum doesn’t excuse this behavior. We’re in a business environment and if you come to play you better be prepared.

 

[Bravo Mod Team]

the mods should have a serious look at the definitions of “asking price”

There should be no discussion about what "asking price" means, normally...

Reminder: The seller only used the word "asking" and the seller never used the term "asking price." Keith used the term "asking price."

But, as a basis for discussion, let's say the seller used the term BIN ("Buy It Now") and offered Keith a BIN of $10,000.

The seller would still not be obligated to sell, as explained by @Mod Team Echo, because Keith countered that offer. If you counter an offer to sell, then that is a rejection to the offer and it becomes null and void, even if you change your mind minutes later and want to accept it. Then, your offer to pay $10,000 after rejecting it becomes a new $10,000 offer that the seller must accept before it becomes an agreement.

These are the standards we use for negotiations as moderators.

 

[Abdillahi Abdillahi]

Reminder: The seller only used the word "asking" and the seller never used the term "asking price." Keith used the term "asking price."

But, as a basis for discussion, let's say the seller used the term BIN ("Buy It Now") and offered Keith a BIN of $10,000.

The seller would still not be obligated to sell, as explained by @Mod Team Echo, because Keith countered that offer. If you counter an offer to sell, then that is a rejection to the offer and it becomes null and void, even if you change your mind minutes later and want to accept it. Then, your offer to pay $10,000 after rejecting it becomes a new $10,000 offer that the seller must accept before it becomes an agreement.

These are the standards we use for negotiations as moderators.

I dont know why people dont see it like this as this is how I saw it from the start and even Keith said the seller did not reply with deal when he said ok lets do it at your price of 10K. So yes, no agreement was reached.

 

[Keith]

Reminder: The seller only used the word "asking" and the seller never used the term "asking price." Keith used the term "asking price."

But, as a basis for discussion, let's say the seller used the term BIN ("Buy It Now") and offered Keith a BIN of $10,000.

The seller would still not be obligated to sell, as explained by @Mod Team Echo, because Keith countered that offer. If you counter an offer to sell, then that is a rejection to the offer and it becomes null and void, even if you change your mind minutes later and want to accept it. Then, your offer to pay $10,000 after rejecting it becomes a new $10,000 offer that the seller must accept before it becomes an agreement.

These are the standards we use for negotiations as moderators.

Of course the seller used asking price. He said asking $10,000. The $10,000 is the price. What planet are you guys on?

 

[Bravo Mod Team]

Of course the seller used asking price. He said asking $10,000. The $10,000 is the price. What planet are you guys on?

The planet where "ice cream" is one thing and "ice" is another.

• "Tennis shoes" vs. "tennis"
• "Car wash" vs. "car"
• "Solar system" vs. "solar"
• "Movie theater" vs. "movie"
• And so on

 

[HotKey]

10k is the ask. Just because you've met the ask, does not mean it ends there. The seller must accept your offer at the ask before it becomes binding. Asking price is no where near the same as BIN. Another offer came in after yours, at higher than the asking price.

Meeting a BIN is immediately binding to both parties.

As far as I could tell, the OP felt immediate entitlement to a domain because he met the sellers asking price, before the seller even accepted it.

What was that about planets?

 

[Keith]

The planet where "ice cream" is one thing and "ice" is another.

• "Tennis shoes" vs. "tennis"
• "Car wash" vs. "car"
• "Solar system" vs. "solar"
• "Movie theater" vs. "movie"
• And so on

Asking $10,000. Please define what $10,000 represents if it’s not the price?

 

[Abdillahi Abdillahi]

10k is the ask. Just because you've met the ask, does not mean it ends there. The seller must accept your offer at the ask before it becomes binding. Asking price is no where near the same as BIN. Another offer came in after yours, at higher than the asking price.

Meeting a BIN is immediately binding to both parties.

As far as I could tell, the OP felt immediate entitlement to a domain because he met the sellers asking price, before the seller even accepted it.

What was that about planets?

Well said.

 

[Bravo Mod Team]

Asking $10,000. Please define what $10,000 represents if it’s not the price?

An amount of dollars. Asking for an amount of dollars (for consideration? to sell?) is not the same as using the term "asking price," but it's a moot point, isn't it?

Even if the seller had written BIN, you still countered/rejected it, which means it would not have been binding regardless.

We hope everyone can at least agree that using "asking" and "asking price" should be avoided because there are clearer terms available, such as Buy-It-Now price, or BIN for short.

However, the terminology would not have changed the outcome in this particular case.

 

[Keith]

An amount of dollars. Asking for an amount of dollars (for consideration? to sell?) is not the same as using the term "asking price," but it's a moot point, isn't it?

Even if the seller had written BIN, you still countered/rejected it, which means it would not have been binding regardless.

We hope everyone can at least agree that using "asking" and "asking price" should be avoided because there are clearer terms available, such as Buy-It-Now price, or BIN for short.

However, the terminology would not have changed the outcome in this particular case.

There were 2 places that the price was given. Yes I countered privately but I posted SOLD in the public thread.

It comes down to intent, not splitting hairs about what asking or buy now is. After giving me the price via PM, the seller went back to his thread to add that same price to the thread title. His actions show that he wanted, was asking, would accept, hoped his buy it now price would be agreed to.

I get emails daily from people that say, what is the ask, asking price, for x domain? If I choose to provide a specific dollar amount, it’s understood that the price is to buy it now. If the buyer decides to accept my asking price, I do the honorable thing and complete the sale.

 

[Bravo Mod Team]

There were 2 places that the price was given. Yes I countered privately but I posted SOLD in the public thread.

That's a fair point and brings us back to the seller's intent of asking for an amount of money.

Is the seller asking because that's the minimum amount he's willing to consider, or is he asking because that's the minimum amount he's willing to sell?

Unfortunately, the terminology and intent is not clear enough for us to determine.

Tip: This is one reason why signing a sales contract is beneficial; the contract helps to provide clarity to the agreement and acceptance from the involved parties. A contract of sale serves to eliminate ambiguity and misunderstandings.

 

[Keith]

Is the seller asking because that's the minimum amount he's willing to consider, or is he asking because that's the minimum amount he's willing to sell?

To ask for anything is just a hope to get it. Can you give me a loaf of bread? Can I please have a glass of water? Will you give me $10,000 for my domain?

The fact that I came along and said sure, I’ll give you what you’ve asked for, is a sellers dream. But for the seller to then say, sorry, I now want 2 glasses of water... that’s fucked up and wrong on several levels.

NP should not allow this kind of behavior. @Melatonin Purveyor you’re not an honest person.

 

[equity78]

That's a fair point and brings us back to the seller's intent of asking for an amount of money.

Is the seller asking because that's the minimum amount he's willing to consider, or is he asking because that's the minimum amount he's willing to sell?

Unfortunately, the terminology and intent is not clear enough for us to determine.

Tip: This is one reason why signing a sales contract is beneficial; the contract helps to provide clarity to the agreement and acceptance from the involved parties. A contract of sale serves to eliminate ambiguity and misunderstandings.

But we need things to get straight here first, you are right about the sales contract, but I can't get there when someone says asking $10,000 I say I will give you that which you ask kind sir. And then they say oh I want more.

 

[equity78]

An amount of dollars. Asking for an amount of dollars (for consideration? to sell?) is not the same as using the term "asking price," but it's a moot point, isn't it?

Even if the seller had written BIN, you still countered/rejected it, which means it would not have been binding regardless.

We hope everyone can at least agree that using "asking" and "asking price" should be avoided because there are clearer terms available, such as Buy-It-Now price, or BIN for short.

However, the terminology would not have changed the outcome in this particular case.

Avoid, it should be banned like how I got xxx banned from Domains Wanted threads and made it that it had to be $$$ amount.

 

[Bravo Mod Team]

Avoid, it should be banned like how I got xxx banned from Domains Wanted threads and made it that it had to be $$$ amount.

Perhaps, but there are many words that can cause problems and banning words seems excessive/unnecessary.

This is something that members can manage themselves: it's as simple as asking a follow-up question for clarity, which will be much faster than reporting someone for not memorizing their vocabulary homework and/or waiting for moderators to tell them not to use words from the naughty list.

 

[equity78]

Perhaps, but there are many words that can cause problems and banning words seems excessive/unnecessary.

This is something that members can manage themselves: it's as simple as asking a follow-up question for clarity, which will be much faster than reporting someone for not memorizing their vocabulary homework and/or waiting for moderators to tell them not to use words from the naughty list.

Well I think you are going to find some are going to have some fun with this.

https://www.namepros.com/threads/soccer-us-asking-20.1187525/

So get ready to do a lot more work cleaning up threads and joining pms.