Newbie Needs Advice - How Much to Charge?

[MoreInStore]

Newbie here.

I spent the last couple of hours looking through this forum and it's fabulous! I was referred here from the Warrior Forum after making the following post:

"I have a domain name that I purchased with plans for a future project. Something I hope to work on in the next 12 months, and I'm hoping it's big.

Here's my dilemma. . . I've been contacted by a MAJOR company in the financial market wanting to purchase my domain name (yes, their assets are in the billions). They bought the .net, .org, etc. of my .com already. The only thing missing for them is the .com (which I own).

How do I determine how much to ask for it? I think they're low-balling me right now. (I can't predict how much my future project will make me, so I can't estimate its value that way)

Has anyone had any experience with this type of negotiation? Would love some advice! Thanks!"

The Warriors, in their infinite wisdom, offered me this advice, "Don't ask non-domainers how to proceed with such an important sale. Go straight to http://www.nampros.com and get some advice from those in this business."

So. . . here I am. Will you help me? Thank you!

Stephanie

Stephanie

 

[hawkeye]

Obviously it'll depend on what the domain is and how generic it is, but if they are as big as you note, have all the other extensions already and are looking to secure the dot com version, and your name is TM issue free, it sounds like you're in a pretty good position to negotiate a nice sale. Not knowing the domain I couldn't offer a price range, but you may consider hiring a broker to help you. Good luck.

 

[MoreInStore]

I hope you don't mind, I'd prefer not to reveal the domain name during negotiations. I'll be happy to post another thread when the deal is done though!

Any advice is very much appreciated!

 

[Gnet]

Well it depends what the domain is
but here are a few ideas:

If they have made you an offer of 10,000$ ask for 100,000$
if they back off let em go

BUT if they come back raise the stakes


hope that helps

 

[zestydomains*com]

Hello!

I hope this will be some simple and helpful negotiation advice regarding your domain:

You've been contacted by a big name and they want your domain. Allow them to make the initial offer. Unless their initial offer is just too good to refuse, reply that you appreciate their interest and kind offer, but am looking to hold at that price at this time. Thank them kindly for their offer and welcome them to let you know if a higher offer is possible.

Odds are that if they are interested and serious, they will reply with a better offer. Don't let yourself be put in a box by giving them a price until you really have to. Let them keep making better and better offers until you know they just can't go any higher (because they'll tell you either through their offer increases, or lack thereof, or just tell you they've absolutely given you their best offer).

At this point you're ready to make the final decision. Here is a great point to not get greedy...if the offer is worth taking, take it. If their best offer just doesn't meet your satisfaction, walk away.

A key to remember is that while it is tough to say no to good offers, do remember that you can keep saying no until they give you the hint they are going to have to walk away. You can always go back on your last "no" to their latest offer and say you've changed your mind (if their offer really is one you are comfortable taking).

I wish you good fortune with your great situation. This, to me, is one of the most fun parts of domaining and please feel welcome to let me know if I can be of any help.

Thank you,
zesty

 

[painperdu]

Search this forum and the internet for domain name valuation methods and study them.

Look through places like afternic.com and http://www.dnjournal.com/ to see what has sold already and at what price.

Lastly, ask yourself what is more profitable to you overall. Be realistic and figure out possible profits from your future use of the name versus selling the name today.

 

[IAmAllanShore]

I've copied zesty's post below, because it is right-on. zesty is a true "pro", and has hit the nail on the head yet again. My thoughts below are merely to be considered "in addition to", not a "replacement of".

Many members (including, but not limited to, ---> Gene <--- ) have had success with names that the big guys want. He would be a great member to PM to ask for his sequence of negotiations. If you are lucky enough to have stumbled across an end user domain that happens to be well endowed financially speaking, then you already know you have a gem.

Most sales like these do NOT get reported - I know of many members on this board that have to keep their best sales to themselves thanks to NDA's.

Those that do get reported seem to be between $10,000 and $25,000 - and I can only imagine there are even better ones out there that I am not keen to.

Don't get pushy, keep things polite (You seem to have a level head on your shoulders), and things should go well.

My last piece of advice is to PM the name to maybe zesty or Gene (Just to name a couple) and get their specific advice. Definitely do not post the name in thread until you've got the money in the bank

BEST of luck!

-Allan :gl:

Hello!

I hope this will be some simple and helpful negotiation advice regarding your domain:

You've been contacted by a big name and they want your domain. Allow them to make the initial offer. Unless their initial offer is just too good to refuse, reply that you appreciate their interest and kind offer, but am looking to hold at that price at this time. Thank them kindly for their offer and welcome them to let you know if a higher offer is possible.

Odds are that if they are interested and serious, they will reply with a better offer. Don't let yourself be put in a box by giving them a price until you really have to. Let them keep making better and better offers until you know they just can't go any higher (because they'll tell you either through their offer increases, or lack thereof, or just tell you they've absolutely given you their best offer).

At this point you're ready to make the final decision. Here is a great point to not get greedy...if the offer is worth taking, take it. If their best offer just doesn't meet your satisfaction, walk away.

A key to remember is that while it is tough to say no to good offers, do remember that you can keep saying no until they give you the hint they are going to have to walk away. You can always go back on your last "no" to their latest offer and say you've changed your mind (if their offer really is one you are comfortable taking).

I wish you good fortune with your great situation. This, to me, is one of the most fun parts of domaining and please feel welcome to let me know if I can be of any help.

Thank you,
zesty