NameSilo

Kind of first real bigger offer

Labeled as discuss in General Domain Discussion, started by Want2learn, Jul 23, 2017

Replies:
47
Views:
3,004

  1. Want2learn

    Want2learn Top Contributor VIP

    Posts:
    3,623
    Likes Received:
    2,708
    So I have sold a few domains, so it isn't the literal first! I would say it is one of the first real major offers to come through @toughdomains.

    It was for ride oakland dot com. The offer came in for $75. I emailed him back after doing a little research. I was a little more long winded than you would have been. I let him know we weren't too close in expectations.

    Nothing . . .

    I followed up . . .

    Lots of dialogue . . . I asked $2495. He let me know we were not close still! He ended up offering a few hundred. I let him know that $1000 was the least I would take from him. I gave him a bunch of reasons why!

    No deal!

    Good experience though!
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. offthehandle

    offthehandle . VIP

    Posts:
    5,129
    Likes Received:
    8,513
    Keep at it. You are just getting into sales. Be positive and never let a "no" bother you. Next customer. I have spent my entire career on the phone. You are selling a solution, an idea to increase the customers business, not simply a name. People who do not understand the perceived value and true scarcity, need to be at least educated.
     
  3. karmaco

    karmaco Top Contributor VIP

    Posts:
    3,045
    Likes Received:
    8,276
    I think you did the right thing standing your ground on that one. JMO. This stuff is often a waiting game especially on something you know is a good name and could get more for to the right end user.

    I bet he went and registered the net if its not allready taken.
     
  4. maksimfa

    maksimfa Top Contributor VIP Trusted Contest Holder

    Posts:
    1,100
    Likes Received:
    1,065
    Just wait.... they will come back.

    Sales 101....

    If you are talking, you're not selling. =P

    They want the domain, so don't need to be sold. Find out what it is worth to them, not to you. We can chat about this offline.
     
  5. SpareDomains

    SpareDomains Jay VIP ★★★★★★★★★★

    Posts:
    3,467
    Likes Received:
    2,459
    lowest I've ever asked is high xxx with most sales happening in the xxxx range, obviously depends on the quality of the domain, research any info you receive name, email, phone, ip, google the "keywords" of the domain (could be the gym i see), profit margin of the product/service, how many possible end users, how many previous offers etc... and run with your gut, longer ya talk to people, do research, etc... the easier negotiations become, sometimes ya sell and other times ya gotta hold your ground and sometimes one of those previous leads comes back to ya, you'll never get good money unless ya start there, but your starting point is defined by stuff I posted above
     
    Last edited: Jul 24, 2017
  6. JB Lions

    JB Lions Top Contributor VIP ★★★★★★★★★★

    Posts:
    22,290
    Likes Received:
    27,501
    $75 is considered a real major offer?

    And then you went from $2495, right to $1000? If so, way too big of a drop.
     
  7. maksimfa

    maksimfa Top Contributor VIP Trusted Contest Holder

    Posts:
    1,100
    Likes Received:
    1,065
    That is true... everything you say is true... but there is one big caveat....

    Is the name that you are selling the only solution out there?

    Ie... I have a request out there for ufo type names. I got a few decent names, some bad. Recently I got one that is perfect... BUT in a different TLD than what I would want.... they were asking $1,XXX. The domain was aged, but no backlink profile or anything.

    On the surface can be okay, but not for that TLD.

    More importantly, I did a search for the same name in other tlds and was able to pick it up for $2.08 as a hand reg.... was dropped before.

    For many business owners, but more importantly for hobby sites, $1,000 or more is A LOT of money for a domain name, especially if we are dealing with non generic names, etc.

    Most of all, if @Want2learn just handregged the name.... for $10...... now instantly it is worth $1,000?

    There is simply no "right" answer as to the price... in fact it is obviously anywhere from $10, what @Want2learn paid for it, and a few hundred, what his end user ended up offering.

    I would probably just sell the name for the few hundred and chalk it up into the "effective" column, particularly for that type of name.

    Now, exception is if it was an existing business trying to buy that name.

    It is all about WHO the end buyer really is, and how long you may have to wait for someone to find it.
     
  8. toughdomains

    toughdomains Top Contributor VIP

    Posts:
    1,058
    Likes Received:
    1,243
    I think 2495 is a fair price for a two word .com in the transportation industry. I dont think you should have followed up with 1k after they said a few hundred. . and certainly no need to be long winded keep it short. set a buy now for anyone to buy at 2495 for a few weeks and then change it back to make an offer I feel thats a name that could go for more. mike mann would sell it for 25k
     
  9. maksimfa

    maksimfa Top Contributor VIP Trusted Contest Holder

    Posts:
    1,100
    Likes Received:
    1,065
    How true. =)

    But he may have to wait 15 years for the end user with deep pockets.
     
  10. toughdomains

    toughdomains Top Contributor VIP

    Posts:
    1,058
    Likes Received:
    1,243
    well to be fair $75 was the lowball offer the buyer countered with a few hundred after that.
    wait until the economy crashes again the offers will pour in. I noticed that when people get fired some look for a job and others start companies. companies that all need domains.
     
  11. maksimfa

    maksimfa Top Contributor VIP Trusted Contest Holder

    Posts:
    1,100
    Likes Received:
    1,065
    Well yes, $75 was the lowball.... and we all dismiss that. =)

    A few hundred is okay. =)
     
  12. maksimfa

    maksimfa Top Contributor VIP Trusted Contest Holder

    Posts:
    1,100
    Likes Received:
    1,065
    What I am interested in knowing, who was the prospect? And what does @Want2learn know about them?

    Are they a hobbyist or perhaps owner of a Bike Shop, etc?

    Personally, with all names like that, (geo + service), my first move would be to do guerrilla outbound marketing on those names....
     
  13. Kuffy

    Kuffy Name Stag VIP

    Posts:
    3,593
    Likes Received:
    5,700
    That's a good point. Now is probably the time to start preparing for that.

    Now I wonder if there is a .com available. :)
     
  14. 4pm

    4pm user VIP ★★★★★★★★★★

    Posts:
    3,110
    Likes Received:
    2,346
    to me it's a kind of name that may never get another offer in your lifespan..
    i don't see much intrinsic value or high potential in it, and there's probably only one end-user - ride / oakland / cycling /// com

    so i would sell at their best offer without feeling there's any money left on the table really..
     
  15. Mister Funsky

    Mister Funsky Top Contributor VIP

    Posts:
    5,330
    Likes Received:
    20,353
    It's true...I have quite few geo domains and as a group, they wait the longest for a buyer to come along or to be found. I am not sure about potentials for this particular name but it is always tough to price some of those names. NEVER under 500 and rarely over 3000 unless it is a superior name.

    As I type I think about other names similar to this...I would probably come back at 1500 firm (I have bunches of renewals due) and use that cash to fund the domain operation...best of luck to you...you are learning well! :xf.smile:

    edit: Although I think this is a good name...a sale is a BETTER thing so please don't let my 1500 figure stop you from generating income...when getting started any sale is good...mid to upper xxx would be a nice flip...please let us know what you do.
     
    Last edited: Jul 24, 2017
  16. Kate

    Kate Domainosaurus Rex VIP ★★★★★★★★★★

    Posts:
    21,115
    Likes Received:
    22,508
    The first offer received is very often the last you'll ever get.
    Any offer should be considered even if it's below your expectations, when the odds of a better offer in the near future are slim. The small sales add up and contribute to cash flow.
     
  17. HotKey

    HotKey Made in Canada VIP

    Posts:
    3,244
    Likes Received:
    8,240
    Yes, and this rings true on the sellers end as well..
     
  18. premkumar

    premkumar Top Contributor VIP

    Posts:
    908
    Likes Received:
    759
    @ offer him @695 GEO domain generally won't go much. Tell him if he close the deal in 48 hours, i give you for $695
     
  19. 000

    000 Top Contributor VIP ★★★★★★★★★★

    Posts:
    5,853
    Likes Received:
    2,154
    A few hundred sounds about right for this one.

    Not every sale needs to be four figures - in fact, most domains will never sell for that, even 10 years later. You need to consider the specific name before waiting around for a home run that will likely never happen. Singles, doubles, and triples can all add up quite nicely too.
     
    Last edited: Jul 24, 2017
  20. Haykay2005

    Haykay2005 Top Contributor VIP

    Posts:
    2,484
    Likes Received:
    4,572
    Better offer might come. It might as well be the last offer. Think about it
     
  21. pchip

    pchip Established Member ★★★★★★★★★★

    Posts:
    572
    Likes Received:
    354
    I always consider lots of dialogue a success, even if we can't reach a deal! So many times the person on the other end goes dark after the first e-mail exchange.

    Where do you see the value in this particular name? What's your investment in the name and how long have you owned it? Have you had any other offers for this name. Obviously someone else wanted it enough to make you an offer for it!

    Whether you should have made a deal on a few hundred really depends on your answers. You can always hit them up later.
     
  22. Hemanttilotia

    Hemanttilotia Established Member

    Posts:
    700
    Likes Received:
    1,082
    that's a good domain. Hold on to it.
    There's a gym/club by this name and it seems big. Don't sell in a hurry.
     
  23. karmaco

    karmaco Top Contributor VIP

    Posts:
    3,045
    Likes Received:
    8,276
    Next time make it brief and pleasant state your desired price and thank them for their interest-- this sounds kind of basic but simply make the lowest offer on your pages the lowest you are willing to sell it for.

    I don't know how your pages are set up but maybe they are too open ended and encourage the lowball offers. Also changing the price twice looks like desperation.
     
  24. 1Darko

    1Darko Top Contributor VIP

    Posts:
    10,322
    Likes Received:
    6,728
    Could the customer use it as an upgrade domain? Do your research!
    If you feel comfortable - renew for another year, sit back and open a cold beer.:xf.grin:
     
  25. Want2learn

    Want2learn Top Contributor VIP

    Posts:
    3,623
    Likes Received:
    2,708
    Okay so $75 isn't a major offer. What I was trying to communicate was that this was my first offer that was real, that did not happen on NamePros, EBay, Sedo, or GoDaddy that was completely inbound.

    I think in terms of negotiations what would have been best is when he offered $75 and I countered $2495 when he said he could only do a few hundred I probably should have either thanked him for his time and said something like let me know if your budget changes OR tried to build value again. I'm thinking the thanking him for his time would have been better given my experience!!

    Other than not closing the sale it was a great experience. Which kind of reminds me of the old adage, "Mrs. Lincoln was asked how she liked the show by the theatre manager, and she responded with . . . And then the theatre manager said, Well other than that how did you like the show?"

    Lol
     

Want to reply or ask your own question?

It only takes a minute to sign up – and it's free!
biix
  1. NamePros uses cookies and similar technologies. By using this site, you are agreeing to our privacy policy, terms, and use of cookies.
    Dismiss Notice
Loading...