Is Virtualland.com really worth 25000USD+ ? Please help!

[-REECE-]

I offered the gentleman 2500usd, something I thought was considerably more than his domain was worth because I wanted to build a site around that exact name. The answer I received shocked me -- he said that a minimum bid at an auction on such a name would be around 25,000usd and that his name was professionally appraised at such. Please help!

 

[htmlindex]

By professional appraisal, does he mean one of those free automatic appraisals like Leapfish etc. or a manual paid appraisal like Godaddy, or did he get opinions of other domainers?

Personally, I think the guy's dreaming!

 

[-REECE-]

Thanks for the reply

And as to his price, so do I! As far as free appraisals go, LeapFish has been the only one I've found even mildly accurate -- often within 50% of what names go for. Seeing as it estimated his name as being worth 650usd, I have trouble understanding where he got 25k usd from...

Any suggestions on the best way to convince him that my offer was a genuine good deal? I'm not intending to resell this name, which is the only reason I offered as high as I did.

I already own virtualland.org, .biz, .info, .mobi, I backordered the .net . You'd think if his name was really worth that much, I wouldn't have been able to register all these names for reg cost (except .net), no?

 

[srisri24]

Thanks for the reply

And as to his price, so do I! As far as free appraisals go, LeapFish has been the only one I've found even mildly accurate -- often within 50% of what names go for. Seeing as it estimated his name as being worth 650usd, I have trouble understanding where he got 25k usd from...

Any suggestions on the best way to convince him that my offer was a genuine good deal? I'm not intending to resell this name, which is the only reason I offered as high as I did.

I already own virtualland.org, .biz, .info, .mobi, I backordered the .net . You'd think if his name was really worth that much, I wouldn't have been able to register all these names for reg cost (except .net), no?

Hi, may be he is dreaming. But dont reveal to him that u r desparate to get it. give sometime when no one comes for that price he will understand true value

 

[-REECE-]

Thank you for your reply and advice

I'll give him a few days... I really would like that name -- especially if he dropped a zero But 25k... I mean looking up names that have went for 25k and comparing them to his -- there's just a *little* quality difference... Not to mention I can't afford to have 25k tied up in a site I'm certain will never make that back...

 

[circa1850]

That's the whole point behind the word virtual...not real. He's not being real.

Numerous sites out there do a big injustice on appraisals.

I just check swiftappraisal and came back with $150K-$250K. Hope he's not reading this.

Even if it is certified GoDaddy, that still a big load of BS. Saw a NLN.org the other day on tdnam with GD appraisal of $8K-$16K. Idiots were buying into it and the last I looked it had been bid up to neary $700 with 3 or 4 days left. It was a nothing domain.

People just get all hyped with the appraisal. I think your $2500 offer is more than generous for this domain.

 

[Mike]

2.5k is already way over the true value of the domain. However, if the guy did his homework and checked the who-is on all the other extensions and found out that one and the same person owns them all, it's only to assume that the same person wants the .com now, in which case he's going to maximize his expectations and tries to get away with an outrageous price.

Sit back, relax and wait, if you have time that is. Think about other options and whether YOU have to make an offer on it, or if you can trust someone buying the name for you. I wonder if any other person than you would get the same 25k response from the guy. :?

 

[-REECE-]

Thank you both for the replies I never thought of the negative implication registering the other tld's might have -- I was thinking of the: what if I buy this name and someone goes and registers the other extensions. I do hope he realizes by doing a whois check that all the tld's were purchased within the last week by me and they all have clean whois registries... Gjsys, that's a great idea you have there! I'll just wait a few days and then inquire about it using another email address. If he gives me anything other than the same load of 25k, I guess I'll know that you were right and he's just trying to stiff me because he saw that I bought the other extensions.

I'm certainly feeling the same way as you guys -- I have no clue who on earth would pay him 25000usd for the name considering nobody was even willing to pay the reg fee on the other tld extensions it was available in.

I guess all I can hope is that he comes to his senses and realizes my offer was more than fair.

I have no idea what kind of strategy he thinks he's employing, but when I ask someone to offer a price to me and they reply back that they don't offer and tell me they want me to offer my maximum since they don't have time to negotiate -- I offer them my maximum. I find it quite rude that someone would even suggest I'm 10x off it's worth, especially after trying to milk me out of every last penny by basically blackmailing me into offering my maximum bid.

 

[copper]

I have no clue who on earth would pay him 25000usd for the name considering nobody was even willing to pay the reg fee on the other tld extensions it was available in.

He's thinking YOU'll pay :D
You registered other extensions which telling anyone that you
really want this domain.

 

[-REECE-]

He's thinking YOU'll pay :D
You registered other extensions which telling anyone that you
really want this domain.

I do But 25k is a little absurd...

 

[copper]

If it's me, I'll start looking for alternate choice just in case seller won't come to sense.

 

[-REECE-]

Yep, virtual-land.com will be my next offer I want the name virtual land, couldn't really give a darn about what it's real value is provided it doesn't break my bank

 

[themonk]

yeah . and he will probably end with no bids

 

[IAmAllanShore]

If I owned it, and someone contacted me about it, I'd probably sit on $25k also - especially if the initial offer was $2.5k.

It's a great concept - kind of an "Own your piece of virtual land" to track either real estate markets or as a great game concept...

If it's too much for you, move on - find another name that will suit your purposes - or negotiate better next time

-Allan :gl:

 

[Spade]

Do not, I repeat do not contact him via another email expressing interest in the domain name. All you will do is either make him think there are more people interested in his domain, thus substanticating the value, or he will suspect it is you and believe you are desperate for the domain name.

Your first problem was that you made the initial offer, dont do it. It puts you at a distinct disadvantage. But the bottom line here is that he is drawing a line in the sand, that line happens to be 10x more than your offer. Now, either meet him inbetween in the 10k range, or move on, or develop under the .net.

This is a problem people run into all the time, and one you just have to work around using your head. Come to your senses and find an alternate name.

Justin

 

[wot]

Personally I think with sales of virtual properties on the internet 25k is not beyond the bounds of possibility. Virtual Land/ virtual property may require virtual currencies , virtual lawyers etc - I can definitely see a market.

 

[nrmillions]

The name really isnt that bad with virtual worlds such as second life becoming more and more popular. If he is someone who has a good income already then maybe he doesnt care about $2,500. Some people only buy domains for one purpose and that is to become rich from it so maybe that 2500 is not going to do that for him. By the way VirtuaLand.com is for sale right in your price range from buydomains.com

 

[htmlindex]

As far as free appraisals go, LeapFish has been the only one I've found even mildly accurate -- often within 50% of what names go for. Seeing as it estimated his name as being worth 650usd, I have trouble understanding where he got 25k usd from...

If I registered some of the available names that Leapfish valued them at, I'd be worth a decent amount of money, :lol:

I just check swiftappraisal and came back with $150K-$250K. Hope he's not reading this.

:lol:

 

[3par]

$2500 sounds a fair price. But the domain owner has the the final say. So you better pick a different name. Good luck with your project.

 

[Coopey]

I was expecting someone to mention 'SecondLife' in this thread.

If people are wasting thousands of dollars on their own 'islands' in a virtual world, then some vitrual estate agent is going to crop up sooner-or-later.

To me it was obvious that this domain suits this game and its denizens, who seem to be accustomed to over-paying for, basically, nothing. That may be why the owner added an extra 0; He may think you're a SecondLife estate agent and used to over-paying...