NameSilo

Offer/Counter-Offer Problem

Labeled as question in Domain Buying and Selling Discussion started by blue crystal, Jul 23, 2019.

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  1. blue crystal

    blue crystal Upgraded Member Blue Account

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    Why in the offer/counter-offer selling method, when someone already made an offer, the Godaddy's domain name's selling page does not inform a new potential buyer about existing offers so they could make an offer at a bigger price ? Otherwise, new potential buyers would make offers with equal or even lower price, which obviously would not be accepted and they, as well the seller, would be wasting their time and opportunity.
     
    Last edited: Jul 23, 2019
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  2. karmaco

    karmaco Top Member VIP

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    If this is regarding your listings—You make the lowest offer amount an amount worth considering.

    If this is regarding someone else’s listings—Those freaks with the $100 opening offers and countless offers are asking XXXXX and just want to make their name look more valuable than it is.

    To answer your question, an offer is private and seller might decide to sell lower later. It’s nobody’s business what the last guy offered.
     
    Last edited: Jul 23, 2019
  3. blue crystal

    blue crystal Upgraded Member Blue Account

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    By doing this way, you will inhibit potential buyers from making offers with a bit lower price, and at the same time, it prevents you to know how many people are interested in your domain.

    Isn't it the strategy of every seller ( to make his product more valuable ) ?

    What the seller gain by hiding previous offers ? Actually, he can only lose. By not allowing potential buyers knowing the price of previous offers, they may waste their ( and the seller's ) time by making offers at lower prices.
     
  4. biggie

    biggie Top Member VIP ★★★★★★★★★★

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    if, other potentials can see previous offers,
    then maybe they won't make an offer at all....if the amount they were going to submit was lower than previous offer.

    best to let it work, like it's been working.
    cuz if other potentials stop submitting offers, then seller may think only that one person who made high offer is interested in the domain.

    imo...
     
  5. DomainRecap

    DomainRecap Top Member VIP

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    Exactly.
     
  6. DomainRecap

    DomainRecap Top Member VIP

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    You're only looking at it from one angle, lowballers.

    Come at it from the other direction, and a Startup has $20 million in funds, they like your name and offer you $10K. Had they seen the mass of offers in the $100-$500 range, I would guarantee they'd offer far less.

    Knowledge is power and you're advocating giving buyers more power over the seller.
     
    Last edited: Jul 23, 2019
  7. blue crystal

    blue crystal Upgraded Member Blue Account

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    I think that probably this is the most common situation. Quite probably most domainers offer average to low price ( or even zero value ) domain names. Am I right ?


    This is a rare situation, unless, of course, you are a special case where most of your domain names are of high value and you somehow are frequently contacted by high-ballers.

    So, rethinking my proposition, I think that in the offer/counter-offer method, there should be optional to reveal or not previous offers, so that, revealing would benefit low and medium value domain sellers and not-revealing would benefit high value domain sellers.
     
  8. DomainRecap

    DomainRecap Top Member VIP

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    You cannot get rid of lowballers.

    But by doing what you suggest, you will get rid of highballers.

    Knowledge is power.
     
  9. blue crystal

    blue crystal Upgraded Member Blue Account

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    Not if revealing previous offers is optional.

    By the way, are you telling me that high-value domain sellers do not sell in the auction way where everyone can see previous bids ?
     
    Last edited: Jul 23, 2019
  10. DomainRecap

    DomainRecap Top Member VIP

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    You seem to have fallen deeply in love with this idea, so I'll leave it at that.

    I will say that I have never seen your idea implemented on a major site,
    But who really knows, maybe we're all wrong and you're right.
     
  11. blue crystal

    blue crystal Upgraded Member Blue Account

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    Not really. I do not have any dogmatic attachment to any idea. I am loyal only to reason and evidence.

    Probably, because most ( or all sites ) favor high-value domain name sellers. With this strategy, marketplace owners ( who are also domain name sellers ) probably have bigger profits.
     
    Last edited: Jul 23, 2019
  12. DomainRecap

    DomainRecap Top Member VIP

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    Then I would suggest you research the obvious and varied differences between an Auction and a For Sale listing. Apples and Oranges.
     
  13. blue crystal

    blue crystal Upgraded Member Blue Account

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    I am doing it all the time, no stop. But some conclusions you get only after some exchange of ideas. Thank you for that. :happy:
     
  14. biggie

    biggie Top Member VIP ★★★★★★★★★★

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    Hi

    there is no special preference given to domains of high value, other than they might be labeled as Premium.

    but that is obvious, to one who knows what a premium name is

    and on some sites, they charge you extra for the Premium tag or to be placed in a Premium listing or category

    the sales of high value names, get the higher profits, because the names are worth more and the sellers ask for more. that's why they tend to get bigger roi's


    still, on sedo for instance, you can see the number of "bids" a listed domain has received, but not the $ amount that was submitted.

    imo...
     
  15. karmaco

    karmaco Top Member VIP

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    The strategy should be to sell your domains period. Not play games. You talked about time wasters. So I replied from the standpoint of what is time wasting to everyone—super low opening offers like $100. I didn’t say make it high I said make higher like $500 if the name is any good.

    I don’t sell on GoDaddy anymore so it doesn’t matter to me either way. But considering you are giving them a huge chunk $100 opener is silly if a person wants way more.

    As far as truly valuable names, they don’t require an opening offer amount at all and should be on their own page somewhere.Thats what I do anyways.

    There are many ways to gage interest not just offers. I don’t rely on offers to tell me if a name is good or not.
     
    Last edited: Jul 24, 2019
  16. tldboss

    tldboss Top Member VIP

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    Seller should put a reasonable minimum offer, e.g. not 100, when you want 50k.

    GD does indicate if one's bid is highest or not.
    Every time I make an offer GD does indicate if my bid is lower than previous offer, seller can reject or counter the offer. Late 2018, I walked away from one deal, seller was asking for too much, checked the domain yesterday, still listed, their minimum offer has decreased by approx. 1K. Also, seller has put a reasonable BIN, close to what I had offered.

    Circumstances change (seller might want to liquidate, raise capital etc) domain price expectations change.
     

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