discuss Minimum offer time wasting

[Dave]

Why do some people have minimum offers and then counter at something far far higher? Usually to ridiculous amounts as well.

I understand we can all ask whatever we want for a domain but why do this.

Take for example a name I recently tried to acquire. Nothing amazing, a nice two word .com. It's on a marketplace with a minimum offer of $500. I think fair enough and offer a reasonable $1000.

They come back with way into the 6 figures! Over $200,000.

Trust me this particular name is not worth that.

Why waste people's time like this?

Set your minimum offers much higher and closer to what you hope to sell for. Stop wasting everyone's time.

Cheers

 

[pokainc]

My min offers tend to vary at any given time, but mostly I tend to put $250 as the minimum offer for any of my domains:

1) It gives me a sense of the pulse of the portfolio. It shows which names garner most interest.

2) It does save some time

3) It's sometimes hard to figure out the exact value of domains especially for brandables, therefore the minimum offer has a lot of chances to be too high or too low.
"Well, just set realistic pricing", easier said than done for brandables for example or less liquid domains.

4) It could be that since you put the minimum offer, the domain gained in value that you only really figured it out after researching more when the offer came in. So your counter comes in at a much higher pricepoint relative to the min offer.

5) In some cases, when there's several domains to renew or bills to pay, you might accept 2-3 sales of $750 each for names you typically would sell for 2.5-3k. Re-adjusting the minimum offer often based on your changing financial reality or cyclical sales patterns is a pain.

6) If you fall on a buyer who has money but truly has no Idea of domain values, that $1000 or $2000 minimum offer that you would've perhaps set would be a non-starter, but if they start at $250 and you counter 5k for example, they would say how come you want 5k.... then after some back and forth you can reach an agreement. The low min offer can start a dialog.

7) Sometimes you can also fall on someone who had a few decent sales and just wanted to try a Hail Mary and didn't care if they didn't sell and hold on to the name.

**** I agree going from around 1k to 200k is a fairly ludicrous. But many buyers even find it ludicrous when you counter a $250 min offer with a 5k selling price.

**** If there was a way to put no min offer (to not set expectation), but at the same time automatically ignore lowball offers, I think that would be great.

**** As much as possible for names I value at over 25k or so, I try to put a higher min offer , but in order to do that, you have to spend hours trying to put at least a bin estimation for each domain (with excel), to then sort it low to high and then put the min offers.
With several thousand domains, it's brutal!

 

[mrGobane]

the domain redirects to coming soon website but different url, no for sale landing.
I guess the domain was sold and owner forgot to remove it from Sedo.

I think so too. Domain has been sold.

 

[MapleDots]

Why do some people have minimum offers and then counter at something far far higher? Usually to ridiculous amounts as well.

I understand we can all ask whatever we want for a domain but why do this.

Take for example a name I recently tried to acquire. Nothing amazing, a nice two word .com. It's on a marketplace with a minimum offer of $500. I think fair enough and offer a reasonable $1000.

They come back with way into the 6 figures! Over $200,000.

Trust me this particular name is not worth that.

Why waste people's time like this?

Set your minimum offers much higher and closer to what you hope to sell for. Stop wasting everyone's time.

Cheers

As most of you know by now... I always like to go a little bit against the grain

From a sales point, let me explain it to you....

- I want 10k for my domain and I list it at a marketplace like sedo etc.
- I set minimum starting bid at $250

So why do you ask?

It's quite simple, the $250 removes 50% of all the deadbeat under $100 offers and the minimum $250 allows me to at least communicate and open dialogue with the client. I can use the comment field to communicate with the client back and forth.

All the client has to do is increase the bid by $1 and he can communicate with me.

Why is that important?

I purchased a domain on Sedo which had a $100 opening bid and the seller asked me for $1,800.

I communicated with him for quite a while, he would answer, I said no too much, he did not contact back, I increased the bid by $1 to communicate again and we eventually settled on $750.

So why did I not enter $750 in the first place? Because I would never have gotten it for that, it was only by me staying in contact over a period of time and letting the seller find out more about me that he settled for the $750.

I use the minimum opening bid as a tool to sell and as a tool to buy with.

Trust me.... in the right circumstances it can be a great way to negotiate and on Sedo it has helped me attain domains and sell domains.

 

[kemjika11]

Why do some people have minimum offers and then counter at something far far higher? Usually to ridiculous amounts as well.

I understand we can all ask whatever we want for a domain but why do this.

Take for example a name I recently tried to acquire. Nothing amazing, a nice two word .com. It's on a marketplace with a minimum offer of $500. I think fair enough and offer a reasonable $1000.

They come back with way into the 6 figures! Over $200,000.

Trust me this particular name is not worth that.

Why waste people's time like this?

Set your minimum offers much higher and closer to what you hope to sell for. Stop wasting everyone's time.

Cheers

Is this case of domain seller counter offering ridiculously relative to the min offer set an outlier situation or there's a established pattern? My gut tells me this is an outlier/minority situation..