advice Negotiation advice when selling gambling domain

[bowskie]

I would appreciate any feedback on the following:

I currently own a .com domain that could be used for an online casino. (I don't want to disclose the domain due to the potential ongoing negotiations of the sale).

I purchased the domain as an investment in 2015. I have now been contacted by the GoDaddy brokers team saying that they have a client that would like to purchase the domain from me. It looks like the .net domain name is being used by the client already and is a Chinese branded online casino.

The offer is $6000.

Obviously I would like to get as much as possible from the sale, but do not want to lose the potential interest by asking for too much.
That being said if a gaming company is after the domain for a new website, it should give me some room to ask for more right?

Does anyone have any experience in a situation like this (or similar), that could offer advice on the negotiation process?

Thanks in advance for your time.

 

[DNWon]

6k-10k Think about how long you will be holding the kitty litter if you lose the sale. Good Luck

A) dont get cute with 888888 conters

B) Dont send them to a better domain

10 years here and 30,000 messages with 40,000 likes, this guy knows what he's talking about. Heed his advice!

 

[168]

Thank you both for your feedback.

I am not desperate for the money right now, but would always wonder what it could have gone for if I don't at least try to counter offer.

The domain is dormant and has never been used. And cost to me has been very little < $100 for 6 domains i registered at the time.

Let's hope they aren't accessing NP. Never speak about your acquisition cost. If they know what you paid it puts you in a handicapped position.
You having the .com puts you in a strong position
The ability to use it in a way that doesn't infringe puts you in a strong position.
.net developed puts you in a strong position
Consider assuming 6k "wholesale" cost.
How much do you want to mark up ?
3x, 4x, 5x, 6x ?

3+ strong
1- handicap
suggest start at 31k
Cheers

 

[shane mac]

Yes, they will pay more, 6k is a feeling out number. If you were desperate they would snag it for cheap, but to you it would be a new car. It's business, so don't be afraid to ask them to dig deeper. They already branded on the .Net, that costs quite a lot of money to do, owning the .Com is the next logical step for their business, especially if it is doing well and they want a bigger market share knowing most of the world trust a .Com more so than a .Net. My suggestion is start with the $88,888, its cute. Also to re brand their entire business would cost more, but be ready to see the counter in and around $20k and take it from there.

 

[doubleU]

We cannot assume the identity of the 6K bidder, while it does point to the established .net operator this is not a certainty.

Even still, the higher the counter-offer the higher the chance of the 6K bidder re-branding and that leaves you with zero $'s.

Either way it's a gamble, a 20K counter might redirect their attention, a $8,888 offer would proberly keep them interested.

 

[Rachel Mcdonalds]

it is difficult to suggest without knowing the domain name
but it is a good amount.

 

[WhoaDomain.com]

I have

Thank you both for your feedback.

I am not desperate for the money right now, but would always wonder what it could have gone for if I don't at least try to counter offer.

The domain is dormant and has never been used. And cost to me has been very little < $100 for 6 domains i registered at the time.

I am assuming that the commission fee paid to GoDaddy by the client is quite high ($1500+?) as I am not having to pay anything my end out of the $6000?

I am wondering whether to go back with a $10,000 counter offer...

Ummm you could also to avoid paying outrageous commissions by quickly redirecting your domain to say a google doc you create.

Saying you will only sell this domain from THAT page.

Of course provide your counter offer on that page as a bin.

And your email and maybe Skype or even Google voice number.

That way if they contact you directly no middle man..Then just use escrow to finish transaction.


They may visit the domain address or stick to the marketplace they found your domain at.

You want to make sure they visit the domain address?

Hmmmm......


Stick your new counter offer in the description
And right below?

Say this:

Domain $10k bin
Website + contents (sold separately) $100k
Hurry while both are still available.
We cannot guarantee availability.

Chance are that this person is constantly looking at your description page anyways.

And curiousity is human nature right?

Think your "guy" won't popover and check out your domain and see this $100k website?

Once there? Well now you've eliminated the middle man commission of how much?

15%? 20%?

Lol

Probably won't work but worth a try

20% of $6000 is $1200.

I think escrow.com is only 3-5%?

Easy math right?

Good luck! Wish I had a $6k offer these days

 

[WhoaDomain.com]

Hi

gambling names don't have the value they once did, at least in USA because of the ban

wondering if you are getting any direct traffic or any residual from the .net website

before the ban in usa, majority of gambling sites utilized .net extension over .com, even thought they may have owned both.


if online gambling came back to usa, then you might have a killer name, if it never comes back, then that offer may be a godsend.


Good Luck!


imo...

Umm say that again biggie? When did this happen? Never heard of this . Betfair seems to do plenty of media promo push on tv in the USA. So please explain. Thanks.

 

[biggie]

Umm say that again biggie? When did this happen? Never heard of this . Betfair seems to do plenty of media promo push on tv in the USA. So please explain. Thanks.

google: pokerstars or fulltiltpoker ultimatebet

imo...

 

[WhoaDomain.com]

I like the domain a LOT and I see a lot of value.
If fansbet.com sold for 18K, easybet.com sold for 44k.. why would you counter with 10k?? LOL
Ask 88K and settle at 35k-45k...
It doesn't matter if the domain age is only 2 years!!
When the Godaddy broker asks you WHY 88k? just say that " easybet sold for 44K so you may be flexible but you believe your name is the same caliber or better!"
Keep in mind that CHINA is ALL ABOUT BETTING.
That would be my approach....

I was just about to say.

"Why not fat*cat in bet?"

And checked whois it was just regged today
Someone reading this thread got the idea to reg it.

See your instincts were right to not tell it but you caved in to NP pressure!


Lol

Sorry. I mean that as a friend

See now you have another competition!

And they know where your buyer is looking at! GoDaddy!

By the way? Wasn't me!

I probably maybe would have gotten it or give you a friendly suggestion to get it but people here too quick.lol damn!

Lesson learned. Lose lips sink ships!

Lol so who did it and will admit it?

And it has privacy? Lol I predict no one will admit


Anyways good luck with it.

Whoever reg fat*cat in bet knows they can get at least $2000 -$3000 for it.

They will probably put a bin on it for $3000.

Think your buyer won't get it?

 

[WhoaDomain.com]

google: pokerstars or fulltiltpoker ultimatebet

imo...

OK DONE now what am I looking at? I wanted to know if gambling in USA is banned? Do I need to download to see what happens ? Rather not. Can you just explain if you don't mind ? Thanks sorry.

 

[biggie]

OK DONE now what am I looking at? I wanted to know if gambling in USA is banned? Do I need to download to see what happens ? Rather not. Can you just explain if you don't mind ? Thanks sorry.

https://en.wikipedia.org/wiki/United_States_v._Scheinberg

 

[LucidDomains]

They are invested in the name F*tC*t as they have a TM in it although they are not invested in your name specifically aside from just existing on the .net.

Running a casino is a costly enterprise, you need to have 6 figures in reserves to pay for winners.

Counter at $20K in my opinion.

Good luck.

 

[hugegrowth]

Personally I would counter with at least $10k, and up to $50,000 if you really don't need the cash and want to hit a home run. A $6k first offer is great, but probably not their best offer. At any rate, counter with something even if it's only a few k more.

 

[ultradog]

“Fatcat” is a great image for gaming and luck; both FatCat and LuckyCat are names of slot games and apps. But a 6k offer sounds like it easily might be someone other than the operator of the .net site, such as a rival gaming company — or the guy who owns the fatcatbet Twitter name (unless that's the OP).

 

[infosec3]

This is the type of name for which sending a counter offer is risky. Think about it. If you counter and they decide not to buy the name, how long will you have to wait for someone else to come along interested in the sames name?

This is not a generic name in which a good number of potential buyers would be interested. If you don't need the money at all, I guess countering will not hurt you.

 

[hugegrowth]

Let us know what you do.

 

[Centaur]

What's the news? I hope it's a good one.

 

[frank-germany]

Let's hope they aren't accessing NP. Never speak about your acquisition cost. If they know what you paid it puts you in a handicapped position.
You having the .com puts you in a strong position
The ability to use it in a way that doesn't infringe puts you in a strong position.
.net developed puts you in a strong position
Consider assuming 6k "wholesale" cost.
How much do you want to mark up ?
3x, 4x, 5x, 6x ?

3+ strong
1- handicap
suggest start at 31k
Cheers

just to let everybody know
99% of my domain are handregged

now do you think you will get them for 20% plus??

really the value of a domain has nothing to do with my costs.


and if so
you please add those costs:

laywers help / advice
hours of learning
hours of checking drop lists
hours of reading nonsense posts
hours of networking

server costs
renewal costs

reward for taking risks

 

[frank-germany]

This is the type of name for which sending a counter offer is risky. Think about it. If you counter and they decide not to buy the name, how long will you have to wait for someone else to come along interested in the sames name?

This is not a generic name in which a good number of potential buyers would be interested. If you don't need the money at all, I guess countering will not hurt you.

50% of the risk is you sell to low
you have no clue why they want that domain

 

[infosec3]

50% of the risk is you sell to low
you have no clue why they want that domain

Not really. You can talk about leaving money on the table when the name in question is an obviously premium one.

In this case, we are talking about an obscure name with probably only one or two (if luck strikes again) end users in the world who might be interested.

There's no leaving money on the table in this situation, where he paid under $35 for the name and has a 10K offer.

The only certain and tangible thing here is the 10K offer. Anything else is uncertain.

The concept of leaving money on the table has a limit and cannot be applied on every offer you receive.

Everything considered, in my opinion, accepting the offer and moving on is the wiser choice.

 

[biggie]

Not really. You can talk about leaving money on the table when the name in question is an obviously premium one.

In this case, we are talking about an obscure name with probably only one or two (if luck strikes again) end users in the world who might be interested.

There's no leaving money on the table in this situation, where he paid under $35 for the name and has a 10K offer.

The only certain and tangible thing here is the 10K offer. Anything else is uncertain.

The concept of leaving money on the table has a limit and cannot be applied on every offer you receive.

Everything considered, in my opinion, accepting the offer and moving on is the wiser choice.

above is an excellent "common sense" approach to these types of situations, and perhaps that viewpoint should be considered more often, than not.

imo.....

 

[frank-germany]

Not really. You can talk about leaving money on the table when the name in question is an obviously premium one.

In this case, we are talking about an obscure name with probably only one or two (if luck strikes again) end users in the world who might be interested.

There's no leaving money on the table in this situation, where he paid under $35 for the name and has a 10K offer.

The only certain and tangible thing here is the 10K offer. Anything else is uncertain.

The concept of leaving money on the table has a limit and cannot be applied on every offer you receive.

Everything considered, in my opinion, accepting the offer and moving on is the wiser choice.

1 potential buyer is more then enough
if this buyer urgently needs the domain

not wants it
but needs it

so its your task to find out first

 

[jideofor]

I see greed making you lose this sale. Take the money and move on. Don't come here to cry later.

 

[RBCDNs]

Geez Louise.... What ended up being the outcome?!?

 

[NamesMax]

Using a broker indicates a willingness to pay a premium. However, even you think it is at best a "B" level name. I would not test the waters much higher. I would say $10K most because of the broker. I like @infosec3 's advice. The "Return on Investment" % is fantastic, even at $6k.

I lost an $8K deal last year haggling about minor issues regarding Escrow.com. I now regret every moment of those emails now.

Remember, the old business saying, "Pigs eat, but hogs get slaughtered."

It pays to be greedy, but not too greedy or else you’ll get in trouble. If you get too greedy like a hog, you can end up loosing it all. - Neil Patel