Lesson learned the hard way

[Blitz]

I have to get this off my chest with a little rant. This won't happen again to me.

I have names I am selling at Sedo and forgot about two (o.k. names) I had in the Godaddy auctions (tdnam) marketplace for a couple of years. I very recently received a $60 offer and thought to myself this must be a reseller because an enduser would have gone through Sedo,so I countered a little with high $$. They accepted quickly. At that point I had a feeling it was an end user. Now that the transfer has happened I find that it was an end user and I know I could have countered with MUCH more.

Like I said, it won't happen again and thanks for listening


If anyone is interested in sharing a domain lesson you learned the hard way, please do

 

[Blake]

Well one in the hand is worth 2 in the bush.......Maybe I'm just not seasoned enough but a sale is a sale......Don't sweat what could have been as you'll likely miss out on so much in this world.

There was 2 possible outcomes both would have you thinking the same way:

1. You do as you did and sell and find out it was an enduser and you feel you sold it cheaply.

2. You counter with a much higher offer and the buyer goes somewhere else or never replies etc....You lose faith this way also...

Either way ....Live and learn as you said heh....but either way a sale is a sale

 

[Blitz]

Thanks B . You are right, a sale is a sale. You also reminded me that I have kicked myself for countering too high and losing buyers in the past.

 

[the_poet]

Thanks B . You are right, a sale is a sale. You also reminded me that I have kicked myself for countering too high and losing buyers in the past.

I think countering too high sometimes is the real problem. At the end of the day you have earned some money I'm giving you some rep as a virtual pat on the back

 

[Jojomojoe]

The high xx is better than $60 and like the others said...scaring the 'customer' away with high offers is never good

 

[Kate]

The most important is to sell at a price that makes you happy.

 

[mjbenterprises]

I agree.. I have an offer on the table for one of my domains at SEDO.. The offer was $550, but I countered with $8700... I don't expect to make a sale at that price for this domain, but that's what the domain is worth to me.... Stand firm on what you believe it's worth, because if you check the DNjournal high sales list, many sup-par domains reach sales levels of mid $XXXX, and even the average sale at SEDO this past year was about $2700...Don't undersell your domains....

The most important is to sell at a price that makes you happy.

 

[SpareDomains]

I have countered $25 and $50 offers for high x,xxx and made sales. I have also blown sales doing this. It's okay to stand your ground on domains you feel strong about or that you know get offers all the time as blowing one of those deals at least you know another will come along soon. If you own a domain for years and years and no one has ever inquired about it maybe a good idea to be more reasonable in your pricing as a sale is a sale. All depends on how strong you feel about the domain, how much previous interest has been shown and your current financial position. Never look back with coulda, shoulda, wouda learn from previous mistakes and keep your focus on future sales. With anonymous transactions you kinda have to expect quite a few will turn out to be end users as that is the reason they go that route so price your domains at a price that will leave you with no regrets when you find a company on the domain when the sale is complete. Running your own domain sales site can provide more information on buyers or eliminate the anonymous factor but quite a few sellers don't have the time/patience to build their own lead system and would rather tap into an already established market like Sedo etc...

 

[Timewarp]

Its cool to be moving forwards, even if the steps aren't giant leaps, remember you were happy with the price when you offered it so take that profit and reinvest, thats still a step forward and an opportunity not lost.

 

[cache]

I would say sell it if you only have one domains, but stand your ground if you own many domains. Because if you sell one high price, it will make up ten lost sales of low prices.

 

[ComKid]

One time I negotiated a name up to $8250. I sent the price agreement letter, then I went and registered the same 2 word name with the hyphen in the middle.

The guy came back the next day and said his partner was upset with him for negotiating without him.... and that they were both upset that I would go and register the hyphenated domain name while in negotiations. Basically said I was a crook and then backed out of negotiations.

It is kinda ironic. I researched and noticed the other domain names they used were hyphen rich. I actually bought it to throw it in with the sale as a gratuity because I didn't want it to be registered by someone else who could prevent them from using as an additional portal. But they thought I was the one being underhanded and this ultimately sank the ship. Never heard back from them.

Right? Wrong? Can't say for sure. It was a feeling I can't describe. Like I may have done something wrong but I know I was meaning to do right......which I believe I did ultimately. I lost out on $8250. Then I think about it and they would have never checked the hyphenated version if they didn't have an interest in it.....and that may have cost me the $8250 anyways.


I did get somewhat of a free appraisal out of the ordeal ....and the hyphenated version.

Should I have registered the hyphenated version... which just may have blown the sale?
Yes?
No?

 

[CoMp1eX]

No, you shouldn't of. It's all about perception, even if you didn't mean any harm.

I once received a xx offer and replied with a low x,xxx offer and it was accepted immediately. I found out who it was and knew I could've got a lot more.

Does anyone have any tips on how we can get the highest price out of a end-user?

It seems like a lot of domainers just throw out a random price.

 

[baiducat]

follow this,
The most important is to sell at a price that makes you happy.

 

[Archangel]

Your best bet is to let the potential buyer know that you are willing to negotiate. Don't give the impression that you want $8,000 exact, for example. You should give the impression that you are a reasonable, flexible person and are willing to negotiate a sum that both parties can be satisfied with.

Does anyone have any tips on how we can get the highest price out of a end-user?

 

[ComKid]

What they do in oil property leasing alot when landowners try to get top dollar per acre is basically make the buyer believe they have additional competition for the purchase of the leasing rights.

The property owner tells the interested party to put in their highest bid by a deadline and the one with the best offer wins.

I have seen this happen before in mineral leasing and it forced one initial bid up from $50,000 to $350,000 (7X) or from $50 X 1000 acres to $350 in a desperation move to get the lease.

This sales technique can create alot of stress on a buyer under these conditions but it is an excellent motivational tool for getting top dollar.

Would this work with domain names? I am sure some buyers would be turned off to doing it this way but it may work for some. I've never tried this approach.