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Need Advice On My Second Inbound

Labeled as advice in Domain Selling and Domain Sales started by Nahdism, Feb 5, 2019.

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324

  1. Nahdism

    Nahdism Established Member

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    Dear NPers,

    I just saw a mail from Undeveloped that I received an offer of $100 on one of my domains yesterday.
    It's the second inbound inquiry of my domaining career (the first person didn't honor the deal).
    But that domain was different, this is the other one. Will not disclose the domain name for obvious reasons.
    It's a brandable domain and highly aged (around 19 years).

    I only got the name of the person who threw the offer. I googled the name and the name of some European actor came up (but not that famous, but who knows?).

    Although he might not be the only person with that name, but fingers crossed.

    I used LinkedIn and found nearly 200 people with that name, ranging from small time workers to CEOs of big companies.

    I am sure that the name can easily fetch anything between $1499 - $14999 on any brandable marketplace and to end users it can even mean mid five figures or something.

    Being said that, I also require money to cover renewal charges and hosting charges for a new site I am planning for you guys (oops, its a surprise!).

    What should I counter offer with so as to make a successful deal?

    Thanks for the advice in advance. Good day :)
     
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  2. Riz M.

    Riz M. EmpireNames.com Gold Account

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    Counter 1299 USD and lets see
    i know name btw
     
  3. lock

    lock Traffic.tools VIP

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    Counter with 15k if it is a 15k name.
     
  4. Nahdism

    Nahdism Established Member

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    Yes, you do know the name :)
     
  5. Riz M.

    Riz M. EmpireNames.com Gold Account

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    countering very high price would miss potential sale
     
  6. Omar Negron

    Omar Negron Top Member VIP

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    I had a similar situation few years back on a first name last name domain.

    I could have sold the domain to the buyer for low $x,xxx (which they offered). I instead decided to counter offer about 10K or so I believe.

    They were never interested after that. I bought the name as a pre release for under $80.

    It was a boneheaded move on my part and I learned from it. Sometimes, you need to be happy with the profit you could make and stop reaching for more. Everyone always worries about "leaving money on the table". I don't worry about that anymore.

    A big problem I had was not truly understanding ROI and profit margins for business in general. Domains provide INSANE amounts of ROI when you make a sale. It's literally unreal compared to most other industries.

    My point is have a realistic profit you are aiming for, factor in the price you purchased and go from there.

    -Omar
     
  7. barman

    barman Established Member

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    The default Undeveloped starting offer is $100. About half of the offers I get on Undeveloped are $100. You can change the default amount to something higher to weed out the tire kickers, but I leave it so I can at least have a conversation with the buyer.

    How long have you had the name? If its been 5 years and this is the first offer, maybe it's not worth that much. But if you've had it a few months - you won't know until you get more offers.

    Also traffic - does it get a good amount of visitors? The more, the better.

    The question is - do you want to make the sale or not? If you really need the money, then counter with a low amount. If you don't need the money, counter with a higher amount. 🤷‍♂️

    The lesson here is that you should only buy names with money you can afford to lose. When you don't need the money, you're in a much better negotiating position.
     
  8. xynames

    xynames XYNames.com PRO VIP

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    https://www.namepros.com/threads/received-a-offer-of-100-on-undeveloped.1117577
     

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