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Negotiating price

NameSilo
Impact
1,590
Question to people who have experience in negotiating price.

Let's say you received $800 offer (so not a lowball from a "student") but you'd rather not sell for less than $2500.

Offer is on Godaddy Auction so no way to find out who the buyer is.

Is it better to counter with $2500 (and stick to that price), with $3000 and go a little lower or maybe something like $5000 so you can meet in the middle.

I don't want to scare them with too high counter offer but at the same time, I guess I should leave some wiggle room for further negotiation.

I know it all depends on a name and a buyer, and every sale is different but in general what tactic do you use?
 
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xaster

Established Member
Impact
137
Without knowing the domain, I would suggest asking for more than you would like to achieve so that you have some negotiation room.

Remember, GoDaddy will take 20% commission too, so you need to factor that in.
 
Impact
1,590
Yeah, I would be happy with $2000 that's why I rather not go below $2.5
 

Andy Dexter

Account Closed (Disallowed)
Impact
179
Usually have some negotiation room is good and then properly reduce price a little on negotiating. Let the buyer have a feeling of getting a bargain. If they are really interested in the domain, I think they would snap up it.
 

xaster

Established Member
Impact
137
Yeah, ask for $4K/$3,500 and use the chat box to say, I value the domain at this and I would welcome your offer.

Get the conversation started and you can always provide your email address if you wanted to chat over email instead.

Good luck.
 
Impact
11,233
It's really impossible to say without knowing the domain and the buyer. But I would up my offer to $3k and settle on $2.5k.
 

Willox Perez

MemberEstablished Member
Impact
707
From experience in negotiating even if the person knows they can pay the $2,500 if you come at them with that price they will want to go lower. So as many suggested counter with a higher number than you want to settle for and work your way down if necessary.

Also if you do not want to go under a certain price stick to it and hold your ground. I usually start at 50x then work my way down with 10x being the least I would accept but most of the time stay at 20x.

- Will
 

Willox Perez

MemberEstablished Member
Impact
707

=-D Should of being more specific times the purchase price/ cost to get the domain. Basically 10 times the money invested, 20 times, 50 times it.