Negotiating price

[bluebox]

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?

 

[xaster]

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.

 

[bluebox]

Yeah, I would be happy with $2000 that's why I rather not go below $2.5

 

[Andy Dexter]

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]

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.

 

[Name Trader]

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]

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

 

[Name Trader]

@Willox Perez - 20x what?

 

[Willox Perez]

@Willox Perez - 20x what?

=-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.

 

[Name Trader]

OK. I kinda got it after I posted.