Offering 3% of a BIN

[bluebox]

I swear I don't get some people. Why the hell would you offer me $30 when the BIN clearly states $1000?
They know perfectly well I won't accept it. Why play games?
I get all kinds of lowball offers but it's usually because I don't have a BIN on my landing pages.

I guess they could be playing the long game - start with $30, then after a week $20 from different account so when hey finally offer me low $xxx I should jump from joy that someone wants to buy this "worthless" $xx name?

Renewals alone cost $2xx.
Well I didn't actually pay that much - I bought it this year for $35. But still.

Have you ever managed to snatch a name by offering less than 5% of a BIN?
I don't know, maybe it does it work.

 

[garptrader]

The vast majority of the general public views domains as an $XX item and while businesses will spend many thousands of dollars on other business expenses they just do not view domains as something worth spending a lot of money on. That is why domain investors need to be careful with TLDs with premium renewals. You may have to wait many years for that ideal buyer to come along. But if you are carrying hundreds of domains with premium renewals you will go broke waiting.

 

[bluebox]

It's not really about the amount - I've had many silly offers like $10 or even $1. But that was on a BIN-less "make an offer" names.
This one has a clear price tag. Why waste your time offering 3%. It will never be accepted.

I'm scratching my head at the ridiculous pointlessness of offers like that.
I countered with $1000 (I would just reject it if Godaddy had option like that) and haven't heard them again.

That's the 2 minutes of my life that I will never get back... LOL

 

[bluebox]

But if you are carrying hundreds of domains with premium renewals

It not $200 per year but the cumulative amount over the years (.co extension)

 

[iAchilles]

Set min offers or ignore the lowballs. It's a combination of ignorance and people chancing their arm.

That said, I've had $20 offers develop into low 4 figure sales. When you get lowball offers from ignorant end users, it's a chance to educate them.