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After domain investing for a while, I've identified a few main "Types" of buyers. I think it's important for a new investor to understand what type of buyer they're dealing with so they can properly negotiate and set the correct pricing points.
Buyer Type #1 - The Lowballer aka the Fisher
The lowballer or the Fisher is the type of buyer that goes submitting $50 on good names worth $x,xxx and $500 offers on names worth $xx,xxx, $5,000 on names with $xxx,xxx, and so on. You'll notice most of your fishing friends will be from Asia/India but a good portion will be from US, CA, etc.
Fishers basically want wholesale but usually less than wholesale pricing for your domains. Sometimes end-users who are completely clueless about domain values or are greedy will act as fishers, so it's good to respond to all offers even when you think they're a fisher but you aren't interest in selling for their expectations. If you don't get a response to your counter offer, don't cry, they were likely a Fisher and there was no way your name could fit on their boat. If you do get a response or counter offer substantially higher than their initial offer, time to negotiate because you're dealing with an end-user. If they counter only a little bit higher (say $150 offer after an initial $50 offer) when you countered at $3500, then you can expect the sale to go no where and not waste your time.
Buyer Type #2 - The "Random Idea" guy
Random Idea guy can sometimes be mistaken as the Fisher because Random Idea guy tends to submit offers in the same range as the Fisher but on domains with less or no liquidity because he has an idea for the name and wants to be the end-user. This type of buyer thought of a random idea, thought up the domain, typed that domain into their browser, and submitted an offer on impulse. He has interest in the domain but not serious interest and might likely never do anything with the domain but he feels he will at that moment. These are "take the money and run" situations because they will show a lot of interest in the beginning but lose interest QUICKLY. You do not want to negotiate too long or wait too long to respond during negotiations. Sales on handregs usually range from $50 - $350 (but can go up to $1500) if your "Random Idea Guy" has a fat wallet and it's an obviously good domain.
Random Idea Guy will usually submit a $50 - $250 offer and he he may or may not be firm. He will likely not come up much higher than his initial offer if his message with the offer is really short (i.e: "Interested in name") or non-existent (blank inbox field) through landing page.
I've found $50 offers can usually be negotiated up to $350 for Random idea Guy, $200+ offer can usually be negotiated up to $500 easily - $2000 (or a lot higher if we're talking Premium domains). considering your negotiation skills, their interest, and how premium the name is.
There are other types buyers as well as several clues to help identify which type you are dealing with and how to gauge their interest which I will be sharing soon, in the meantime enjoy.
Buyer Type #1 - The Lowballer aka the Fisher
The lowballer or the Fisher is the type of buyer that goes submitting $50 on good names worth $x,xxx and $500 offers on names worth $xx,xxx, $5,000 on names with $xxx,xxx, and so on. You'll notice most of your fishing friends will be from Asia/India but a good portion will be from US, CA, etc.
Fishers basically want wholesale but usually less than wholesale pricing for your domains. Sometimes end-users who are completely clueless about domain values or are greedy will act as fishers, so it's good to respond to all offers even when you think they're a fisher but you aren't interest in selling for their expectations. If you don't get a response to your counter offer, don't cry, they were likely a Fisher and there was no way your name could fit on their boat. If you do get a response or counter offer substantially higher than their initial offer, time to negotiate because you're dealing with an end-user. If they counter only a little bit higher (say $150 offer after an initial $50 offer) when you countered at $3500, then you can expect the sale to go no where and not waste your time.Buyer Type #2 - The "Random Idea" guy
Random Idea guy can sometimes be mistaken as the Fisher because Random Idea guy tends to submit offers in the same range as the Fisher but on domains with less or no liquidity because he has an idea for the name and wants to be the end-user. This type of buyer thought of a random idea, thought up the domain, typed that domain into their browser, and submitted an offer on impulse. He has interest in the domain but not serious interest and might likely never do anything with the domain but he feels he will at that moment. These are "take the money and run" situations because they will show a lot of interest in the beginning but lose interest QUICKLY. You do not want to negotiate too long or wait too long to respond during negotiations. Sales on handregs usually range from $50 - $350 (but can go up to $1500) if your "Random Idea Guy" has a fat wallet and it's an obviously good domain.
Random Idea Guy will usually submit a $50 - $250 offer and he he may or may not be firm. He will likely not come up much higher than his initial offer if his message with the offer is really short (i.e: "Interested in name") or non-existent (blank inbox field) through landing page.
I've found $50 offers can usually be negotiated up to $350 for Random idea Guy, $200+ offer can usually be negotiated up to $500 easily - $2000 (or a lot higher if we're talking Premium domains). considering your negotiation skills, their interest, and how premium the name is.
There are other types buyers as well as several clues to help identify which type you are dealing with and how to gauge their interest which I will be sharing soon, in the meantime enjoy.
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