discuss Pricing Up Domains..

[DanBingham]

So you list your domains at BIN, do you ever doubt your pricing so much so that you are regularly changing your pricing structure?

We all know that when pricing up domains for BIN, prices need to be realistic to increase the chances of a sale but it can be extremely difficult to price them right.

What has been your experience?

 

[Silentptnr]

I don't change prices very often once I set them. Only to raise them really. I keep an option for make offer so if someone wants to offer less, they can. No reason for me to lower prices. It would be too much work for me.

 

[kite26]

I recently increased the minimum offer of my names, but I kept Buy it now prices the same. I use to give enough time to test it, about 6 months and then I will recheck.

 

[WatchDogue]

The majority of the domains I would sell are listed at BIN prices.

Usually twice a year at a minimum I carefully review the names, the number of visitors and, the prices asked for each name.

I try and make reasonable price adjustments based on the number of visitors to a name and the actual prices realized for reasonable similar names sold, if known.

I might also make an adjustment to a price if I am aware of a reasonably similar name being offered for sale and I try to interpret why it might be priced as it is and apply anything I can interpret to my name and it's pricing.

Maybe in a year I might make a price adjustment to about 25% of my names, usually up or down 1-2 k max.

And once in a while, wow, I bump a price substantially based on related domain name sales or just on instinct.

 

[tonyk2000]

BIN pricing is not an easy task. Regular reviews are required, as it is something that has to be constantly optimized.... I wish I could dedicate more time to proceed with frequent price revisions

However, on a spot view:

Sometimes, I increase public BIN prices after domainagents solicitations (which are ignored by default, as they still use escrow com). It is the only method I could invent to show the potential buyer that the seller is alive (even though the "broker" did not receive any response) and to prompt him to use appropriate communication channels, such as email or contact form openly available on the landing or parking page.

Usually, I decrease prices if I mark the domain not to renew. It works.

If I have confirmed the price to a potential buyer as a part of direct communication - I would not increase it during 1-2 months (to let him pay an expected amount), but, if he did not proceed with the purchase - I may then increase the price (nothing personal, he already elected not to purchase it, but he showed that the domain may be more valuable).

 

[7363824]

This will be an interesting thread for sure. I have tons of ideas already on how my own marketplace/landers I am writing can handle this, but I am interested to reading others thoughts.

Currently my intention to to dynamically adjust pricing in 3 ways:

1. Use a tier based pricing structure for all my domains, where each tier has a minimum and maximum possible price. Then use overall performance data to on a regular basis to automatically adjust where within the acceptable range each tier is actually priced.

2. On occasion making manual (mostly bulk) moves of names between pricing tiers. For example I may choose to take all my AI domains and move them up a tier if I see some positive news in that space.

3. Offering customer-specific discounts on the BIN. Automatically adjusting that discount on factors such as, have I seen their IP return to this domain multiple times, have they bought domains from me in the past.

I also intend to accept offers on domains BIN'd at $5k+ and I will let them submit the offer form with any amount. Any offers below my minimum offer threshold, based on the pricing tier of the name, will get an auto reply rejecting the offer but I will have it saved in my database as a data point to consider in manual repricing or do not renew decisions.

 

[Kuffy]

I've decided to price my names in Bitcoin. This means that the price will automatically increase in response to economic pressures ( I hope). Pricing in fiat means you have to keep adjusting as the inflation rate increases.

 

[tonyk2000]

I've decided to price my names in Bitcoin

you are brave

 

[7363824]

I've decided to price my names in Bitcoin. This means that the price will automatically increase in response to economic pressures ( I hope). Pricing in fiat means you have to keep adjusting as the inflation rate increases.

Personally is rather just readjust once every year or two for inflation. Bitcoin is way to volatile for my liking. All it takes is some politician mentioning the R word (regulation) in the same sentence as bitcoin and whew.

Maybe if I want to buy one or your names I'll start some fake news to cause bitcoin to plumet before buying...jk

 

[blogspotter]

I've decided to price my names in Bitcoin. This means that the price will automatically increase in response to economic pressures ( I hope). Pricing in fiat means you have to keep adjusting as the inflation rate increases.

What if the price go down?

 

[Kuffy]

What if the price go down?

That gives me a chance to buy more Bitcoin.

I plan to hold my Bitcoin for at least 2 years, so I don't care if the price drops, it makes the name easier to sell. Of course, I always have the option to increase the price in Bitcoin if I am not involved in a negotiation.