question Negotiating when the first offer is very high

[DomainNameFlow]

I have a short domain in top 5 extension (around 2 yrs) and if first offer is close to 6 figure, should I negotiate? I was researching and there are few companies with exact name and I feel this offer is either from them or from one of the stealth start up. However I might be wrong and it could be from a deep pocketed experienced domain investor who knows what I/many don't know yet. Hopefully this offer is genuine

So would appreciate few opinions, specially from the domainers who had been in same situation before and could positively negotiate much higher (let say 1.5x or more)

Thanks in advance.

 

[johnn]

Where the offer came from?
Find as much as you can before starting negotiation.

 

[DomainNameFlow]

One of these (Afternic, Sedo, Undeveloped), will surely disclose other details/site if sale happens.

 

[johnn]

Not much you can find out from afternic or sedo but with dan you can check the name and IP address for location and details.
I once got a low ball $500 offer from a guy when I found out he is a VP of a company. We closed the deal for $xx,xxx.

 

[gilescoley]

Research the possible buyers
See their end of year figures/net worth etc
Then counter accordingly

Or

Accept if the offer is that good and you could really do with the money. Always a chance of scaring the buyer off if your counter is too high

I've had high offers and the buyer never pays, just be prepared for that too

 

[wot]

At Sedo you can get buyers location and how long they have been a member, that is a start.

 

[hn]

Well my experience has been if the offer is already too high and if you wish to sell the domain (rather than waiting for the next offer to come in) its best to sell it. I had tried with a couple of buyers who had put in their offers for a bike related domain I own. They simply did not return when I countered with another offer. But if the domain is high demand and you keep getting offers on it, may be you can hold on, but if its a one off offer, then best is to accept the offer and use the funds for reinvestment. Just my thoughts and I may be wrong.

 

[pinkdragon]

Post here the name, masked. But a 6 figure opening offer is very very rare. I am sure it is a currency confusion.

 

[VadimK]

I agree with @hn - if the offer is already a high $xx xxx, it's not the same as if you'd get a lowball of $500.
I wouldn't be too greedy here (but of course I am not in your place and I don't know the name). But I would definitely think for myself that a similar offer will not come again anytime soon and act with this in mind.
I would still counter, but not by much, and then would let it go (unless of course you get such offers every month, and want to play a different game, squeezing absolute maximum possible out of this name).

 

[DomainNameFlow]

Not much you can find out from afternic or sedo but with dan you can check the name and IP address for location and details.
I once got a low ball $500 offer from a guy when I found out he is a VP of a company. We closed the deal for $xx,xxx.

$500 to $xx,xxx, that's great. Thanks for your suggestion

 

[DomainNameFlow]

Research the possible buyers
See their end of year figures/net worth etc
Then counter accordingly

Or

Accept if the offer is that good and you could really do with the money. Always a chance of scaring the buyer off if your counter is too high

I've had high offers and the buyer never pays, just be prepared for that too

Totally agree, don't want to scare buyer with too high offer. I hope the buyer is genuine.

 

[DomainNameFlow]

Post here the name, masked. But a 6 figure opening offer is very very rare. I am sure it is a currency confusion.

Domain is short so can't post even in masked form as it won't make much sense. yes six figure offers are rare and that's why I am bit suspicious too and hoping that offer is not fake.

 

[DomainNameFlow]

I agree with @hn - if the offer is already a high $xx xxx, it's not the same as if you'd get a lowball of $500.
I wouldn't be too greedy here (but of course I am not in your place and I don't know the name). But I would definitely think for myself that a similar offer will not come again anytime soon and act with this in mind.
I would still counter, but not by much, and then would let it go (unless of course you get such offers every month, and want to play a different game, squeezing absolute maximum possible out of this name).

For now I have countered bit higher and hoping buyer is genuine and comes back for negotiations. keeping fingers crossed!!

 

[VadimK]

For now I have countered bit higher and hoping buyer is genuine and comes back for negotiations. keeping fingers crossed!!

And if he won't - you can always go back to him, agreeing with his offer. And if then he won't get back to you then - it means 99% that it was a fake in the first place. Because you only make an offer of $xx xxx if you really need this same name and you thought it through.

 

[Acroplex]

Assuming there was no visible minimum asking price or BIN you are now in the position to negotiate above their offer. Don't be afraid to ask what you believe is fair money in exchange for the domain - you can only sell it once.

 

[Pradheep]

check who the buyer is & check for recent sale in the niche of your domain, price accordingly.

 

[silentg]

Did the buyer respond to your counter offer?