Personal injury lawyers want my domain - How much to ask?

[randomo]

Hi folks,

I just got an inquiry (through a parking service) asking whether a domain I own is for sale. It came from a personal injury law firm; this domain would be appropriate for helping them get business related to a particular type of work.

I'm not asking "What's my domain worth?" - that would go in the appraisal thread. My question is, how do you modify your asking price, depending on the (assumed) deep pockets of the potential buyer?

Sorry if that question's not well-formed ... I hope you know what I mean.

Thanks,
Dave

 

[mlmleads]

start at a price you're happy with and go from there.

 

[thebiffenator]

start at a price you're happy with and go from there.

I aggree also remeber that lawyers are one of the biggest advertisers to get there name out there and have money to spend, look on every phone book ect... Don't sell yourself short

 

[randomo]

Thanks for your advice.

I decided to ask for just $1,500, fearing that a multi-thousand offer might scare them off altogether. They quickly came back with a $750 offer. I said my bottom line was $1,000. (Yes, this shows weakness; I'm a lousy poker player.)

Will let you know if/when the deal closes ....

 

[VisualArtistFrankBonilla]

Show no Mercy!

Think like a lawyer. $200 for a phone call. $300 for a fax. $1,000 for an hour's services. (Not real, but close!) Hit them in the jugular! High $x,xxx to start! Think like this, then add 40%!
He's a lawyer, now he's gonna give a counteroffer, and make you think you should take it. He's a lawyer... he does this everyday!!
Frank

 

[DotWeekly]

Thanks for your advice.

I decided to ask for just $1,500, fearing that a multi-thousand offer might scare them off altogether. They quickly came back with a $750 offer. I said my bottom line was $1,000. (Yes, this shows weakness; I'm a lousy poker player.)

Will let you know if/when the deal closes ....

Should of started at $3K and you would of had your $1,500 you wanted. lol jk

Good luck with the sale. If they go lower than your $1,000 that you do not want to go any lower on (As you stated b 4). Do something they would not expect. Go Higher. I have had it work before. So you should be able to get your $1,000

 

[cache]

this sounded like what happened to me. You may want to PM me their names or email
address.

 

[floatingworld]

not all lawyers are rolling in it.
keep to the business which is whether your name would be easily resold by you if the current offer walks away. there are too many domainers who will advise you ;oooh! they're lawyers! ask them for a million!; etc...as if lawyers don't know how to handle money. Before this sale you would probably have been more than happy to have been offered the amount that is on the table...so if you can get a price over $1k which is what you are focussed on and escrow fee, then well done.

 

[fonzie_007]

PI lawyers, unless they are good (which few of them are), aren't bringing much money. I think your offer of $1,500 was fair, although I probably would have asked for a slightly higher starting figure, say around $3k.

I don't know what the domain is, but one thing you need to be careful with is when you are dealing with attorneys. I don't know what the domain name is, but if there is any way you could have been brought to arbitration, I think you played this one right by asking for only $1500.

 

[movingconcierge]

...an arm and a leg

 

[randomo]

PI lawyers, unless they are good (which few of them are), aren't bringing much money. I think your offer of $1,500 was fair, although I probably would have asked for a slightly higher starting figure, say around $3k.

I don't know what the domain is, but one thing you need to be careful with is when you are dealing with attorneys. I don't know what the domain name is, but if there is any way you could have been brought to arbitration, I think you played this one right by asking for only $1500.

Thanks, Fonz (& floatingworld).

I checked out this law firm's website - it looks like a small shop, maybe just one lawyer and a secretary, so their pockets may not be too deep.

The domain name is very generic, and nothing turned up when I searched the trademark system, so I doubt they could do anything legal to me. (I'll add details after the transaction goes through.)

 

[john's TLD Domain]

1,500 is not bad. I would have asked for at least 2,000. if he wanted it so bad then it must be worth something. I would have even said 3,000. 1,500 is fair I wouldn't come down past 1,000. he know you you he want it. he's trying to get it for as cheep as possible don't let him get the best of you I know he will pay 1,000. and that's a great sale. best of luck.

 

[randomo]

I sent them the $1,000 counteroffer on Monday. No word yet. Possibilities:

1. They are waiting for me to give in.

2. They have lost interest (hard to believe they'd quit at the $1,000 price level when they had already offered $750).

3. They were never serious in the first place.

I guess I'll wait a little longer and see. (But no, I'm not going to crawl back to them and beg for their $750!)

Cheers,
Dave

 

[Spade]

Sorry, but big mistake.

Lawyers are used to spending money. They buy nice things and they are accustomed to spending. Even for a "small" shop laywer. If there in business, there doing just fine. There is no price tag "shock" for these guys. However, being a laywer they negotiate, they argue. They want to win.

Your initial offer was too low. Never be scared to ask for the world. If one lawyer wanted the domain name, its probably not half bad, and there is plenty of competition in that industry.

Justin

 

[yandig]

Dave, good luck with the sale.
I find that if i get one offer for a domain, better ones start rolling in at some point. So don't be too discouraged if this one doesn't work out.

 

[labrocca]

I would have asked $3k as well and negotiated to maybe $2k-$2250. Something like that. You undersold most likely but that's without know the name.

 

[mirrorcube]

Just curious about what the name is if possible.

 

[Name Trader]

Good luck, Dave. We all need a little sometimes

 

[randomo]

All right, just to satisfy everyone's curiosity, here is the domain they wanted:

__BadNanny[.]com__

Does this mean they're going to be suing nannies? Do nannies have deep pockets? I don't know ...

... but sometime this coming week, I will remind them that the domain could be theirs for just one grand. Such a deal!

Thanks again to everyone for all your input and support.

Cheers,
Dave

 

[IAmAllanShore]

Great name, it might be time to seek out your own buyer if this one doesn't pan out.

Many different avenues available on this one - a mini-site might make you more than parking does in the short run (Nanny stories and links - stuff like that gets passed around a lot.).

-Allan :gl: