discuss My first $1,000,000 offer to purchase

[MapleDots]

I am about to make my first One Million dollar offer to purchase and I want this to go a smooth as possible.

I have asked the advice of a couple of my peers on how to best proceed with this but I thought I would also put it out to some of the members on namepros.

My usual way of doing business when I go after a domain is to attach a time frame to the offer to purchase, but to be quite honest this one is kind of in a league of its own and I have to be careful how to pursue this.

My plan is to offer 500k down and 500k when the deal closes.


What do you guys think?


1. Make an offer with no strings attached

or

2. Set a time limit to add an urgency to the sale

 

[nafti]

I personally would add a time frame. By not adding a time frame, I believe the seller could and will ask for more. I think if you state that you are offering a time frame because you have interest in other business adventures and do not want to tie up 1 mil, it may get him thinking! I voted!

 

[SuperBrander]

Personally I don't think a 48 hours ultimatum is a reasonable offer. It can annoy the seller and since you want the domain you don't want 48 hours to pass and then get stuck in a position where you didn't get the domain and have to continue to pursue it. But like someone else said, nobody knows what's the right move here because nobody here has been in your position. You need to follow your gut.

p.s. My bet is on Maple.com.

 

[The Durfer]

oh let it be a letter or two, not a word. Huge profit reselling.

 

[MapleDots]

p.s. My bet is on Maple.com.

or maybe it's Cofveve

 

[DOMAIN ILLUMINATI]

@MapleDots

Is it a .top domain?
If yes, then how muchhh characters does it have?

Thanks in advance!

 

[branding]

When I get involved in buying domains at a higher price point I always make an offer that's only good for a limited time. Time is money, and if they decide to drag the decision making process that will cost you as well.

Good luck though as it does get nerve wracking when this kind of money is involved. I've never gone beyond 100k which wasn't even funded by me personally but still cost me a decent amount of sleep

 

[The Durfer]

can you tell us if its a letter or a word? please. ty.

 

[bmugford]

Any domain that is worthy of a seven figure offer has no doubt received countless serious offers in the past.
Playing hardball doesn't work that well when someone has an asset they know is valuable.

Still, you have to set some type of limit vs. just leaving an open offer on the table.

There is no reason to set a hard deadline in my view as it is not likely going to compel someone to sell a top tier domain. It should be clear in short order if you are even close on pricing or not.

If you do set a limit, I would not do it with the opening offer.
I would wait until you are at a point where a deal might be possible.

Brad

 

[MapleDots]

Any domain that is worthy of a seven figure offer has no doubt received countless serious offers in the past.

Post #54

Not countless offers, I am competing against 1

Good advice in your post though

 

[SuperBrander]

@MapleDots You could have gotten Covfefe for much cheaper even in its glory days. I'm betting on Maple.com beacause... well... you're all about Maple domains. The .ca is taken so the .com kinda makes sense though 1M sounds high for it. It's probably something else though, so I'm looking forward to finding out either way.

 

[HotKey]

@MapleDots

Is it a .top domain?
If yes, then how muchhh characters does it have?

Oh, it's definitely a .top

Likely 63 characters too. You'd have to be outta of your mind to consider throwing a mil at anything less..

 

[Jv1999]

I am about to make my first One Million dollar offer to purchase and I want this to go a smooth as possible.

I have asked the advice of a couple of my peers on how to best proceed with this but I thought I would also put it out to some of the members on namepros.

My usual way of doing business when I go after a domain is to attach a time frame to the offer to purchase, but to be quite honest this one is kind of in a league of its own and I have to be careful how to pursue this.

My plan is to offer 500k down and 500k when the deal closes.


What do you guys think?


1. Make an offer with no strings attached

or

2. Set a time limit to add an urgency to the sale

...you know april fools' day is on April 1. Claro, que si?

 

[Vito]

I remember another thread you created recently.

In that thread you were asking if anyone else here was in the 100k Club like you are, since you made a 100k offer on the multi-million dollar domain - Canada.com

I remember it was 100k because you even took the time out to create a cute 100k club logo/picture for your thread.

Oh here it is...
https://www.namepros.com/threads/100k-domains-are-you-a-buyer.1104236/#post-6929249

Ok so I am guessing you are shooting for Canada.com again but with a more realistic offer this time?

 

[MapleDots]

I remember another thread you created recently.

In that thread you were asking if anyone else here was in the 100k Club like you are, since you made a 100k offer on the multi-million dollar domain - Canada.com

I remember it was 100k because you even took the time out to create a cute 100k club logo/picture for your thread.

Oh here it is...
https://www.namepros.com/threads/100k-domains-are-you-a-buyer.1104236/#post-6929380

Ok so I am guessing you are shooting for Canada.com again but with a more realistic offer this time?

You have to read the whole topic, especially post #54

I am up against a single bidder at the moment and I cannot discuss the domain until I know what is happening.

PS. the so called logo was a quick google image search, I did not have any part in making it.

As far as debating with the people who think anyone can make a 100k or even a one million dollar offer, I'll ask you when the last time was that you did that. I actually have my email strings with brokers but that is all irrelevant. The only thing that matters is when one of my offers gets accepted. I'll be sure to post that and then you can dislike that post as well

 

[Brands.International]

I personally think money talks

If you offer good amount of money for something, it is usually accepted quickly.

If you do not offer good amount of money for a valuable asset, it usually does not work.

In case of good domain name, the money will work, but (lets call it "games") with time frames, etc, not so much, as this domain holder probably experienced that many times before.

Also it is best to negotiate directly with owner, where you can accomplish in few min phone conv the same what "broker" will do for weeks or months. So if possible, avoid broker, imo, but after a deal is done in this value, good domain lawyer is a must, to handle transaction as safe as possible, with all due dilligence necessary.

 

[Recons.Com]

Offer your $1MM without the deadline. You can always withdraw your offer in x days if no response.

Also don't offer any downpayment. As suggested here, those details would be hashed out once you guys agree on the price.

Good luck!

PS my bet is also on Canada/com

PPS Oh, the irony, after declaring .com almost dead, you go for $1MM for a .com

 

[LarryDomain]

Reminds me of when I made my first $100 offer for a domain. Really nerve racking. But it's common nowadays.

 

[Soofi]

I know the name!

 

[Jv1999]

if you really are throwing big money like this around then my suggestion is to wait until the econome gets worse and then the seller will be more "open"

i mean... who wouldnt salivate at 1MM when all their stocks, crypto, and business is spinning down the drain?

 

[wwwweb]

Money is easily spent, and in this price range there is always a risk unless your name is Rick Schwartz.

I wish I could say I'm not nervous about this.

To be honest guys like Rick Schwartz don’t pay a million for domains, they make offers like $50-$100K for million dollar domains.

Even names like digital.com, true.com sold closer to $400K, even the biggest Fortune 500 end users scoff at $1M price requests. So from the outside looking in to make an offer of that size a domain would have to have a retail price of $5-10M in a commerce proposition. I believe Godaddy sold LA.com two years ago for $1.2M, and that is an amazing domain.

Usually in situations like this you make a sizeable offer let’s say Canada.com as an example you made $100K offer, which given a Corp with a board owns it, and is not happening, even a $300k counter won’t do much, but if you put $500K out there then let the broker itch their commission, and harass, and massage them into a workable deal. This company may think Canada.com is worth $10M for whatever reason they deem, but million dollar offers are rare when an active business is not associated with it.

Even buyers like Brent Oxley who buys 6 figure domains like they are godaddy closeouts doesn’t pay that kind of change for premium category killers.

Either way All the best, but I suggest you make the deal, and then talk about the experience, right now this sounds like more of a fantasy, than a reality.

 

[BRANDERX]

what is $1,000,000 for Canada.com? its nothing. They probably wouldn't pay attention to the offer..

Offer 3 if you really want the name.

Good luck

 

[SuperBrander]

If it's indeed Canada.com, I'd say not to bet 1M on it considering what happened with France.com. This name does make more sense than Maple.com from a price perspective but it's a dangerous domain to purchase.

 

[Furquan]

OH my Gosh!!!

All are we talking about One Million Dollars Sail.

 

[Furquan]

To be honest guys like Rick Schwartz don’t pay a million for domains, they make offers like $50-$100K for million dollar domains.

He knew what worths and play with seller mind before getting him trapped into his own price.

Do we really talk about a possible $1 million domain deal?

Can someone tell me how many zeroes should I put after 1 to make it $1 Million

 

[carob]

Question: how much do you believe what the broker tells you?

Because saying "available at this price for a limited time only" is a known sales technique, so is a discount for cash. Do you have any other source for knowledge of other offers?

And how much confidence do you have that info you supply to the broker, other than a number, is accurately relayed to the seller? Will seller fully understand it is a cash offer, and any limits you put on it?

If no time limit is set, what freedom do you have to back out? Assuming that what I say is relayed verbatim, I would just make the offer but say I will be reviewing it after 30 days in line with my other business plans, and say or imply that I reserve the right to withdraw the offer.