advice Pushing to Auction...the right move?

[LiamShiff]

hello NP community,

would like to ask for some advice. I have a domain that i am trying to sell via offer/counter-offer on GoDaddy, the latest offer i have received after some negotiation is, unfortunately, a bit below what I would prefer.

Would it be a smart move to push to auction with the current offer before it expires? Effectively piggybacking on the highest offer I received yet?

What's your experience with these types of situations?

Thanks!

 

[Ategy]

You'd think this was a no-brainer obvious thing to do. But from what I've noticed, it's rarely done.

It just seems in bad taste .. and more importantly .. you risk losing the sale. (Because even if their offer is theoretically "binding" .. there isn't much you can do to force someone to pay if they don't want to .. legal costs in these cases would almost always make it not worth the time or bother)

I think the other reason is that usually it doesn't result in any new bids. The bulk of domains only get rare incoming "serious" offers .. so the chances of another END USER buyer coming in to buy the same domain AND willing to pay more is extremely low.

So when you combine the two things I think most domainers are simply eager to close the sale as quickly as possible while minimising the risks of losing the sale.

That being said .. if the incoming offer is still in a wholesale range, then I'd be more supportive of this. But in theory minimum offer settings should still be in low retail prices, which would block wholesale offers right from the start.

 

[myfavorite]

It may be better to just if you willing to settle for the offer amount then take, otherwise reject or make a counter. All depending on you current financial position.

 

[LiamShiff]

You'd think this was a no-brainer obvious thing to do. But from what I've noticed, it's rarely done.

It just seems in bad taste .. and more importantly .. you risk losing the sale. (Because even if their offer is theoretically "binding" .. there isn't much you can do to force someone to pay if they don't want to .. legal costs in these cases would almost always make it not worth the time or bother)

I think the other reason is that usually it doesn't result in any new bids. The bulk of domains only get rare incoming "serious" offers .. so the chances of another END USER buyer coming in to buy the same domain AND willing to pay more is extremely low.

So when you combine the two things I think most domainers are simply eager to close the sale as quickly as possible while minimising the risks of losing the sale.

That being said .. if the incoming offer is still in a wholesale range, then I'd be more supportive of this. But in theory minimum offer settings should still be in low retail prices, which would block wholesale offers right from the start.

The minimum offer was 20$ which is why this offer is not that great.

the current offer I have is for the purchase price of my domain, which is not great because after commissions I will be effectively losing money.

so you are saying pushing to auction is not worth it? Better to wait for a better offer later on?

Thanks

 

[Furquan]

The minimum offer was 20$ which is why this offer is not that great.

the current offer I have is for the purchase price of my domain, which is not great because after commissions I will be effectively losing money.

so you are saying pushing to auction is not worth it? Better to wait for a better offer later on?

Thanks

Instead of pushing it. Increase the minimum offer then wait....

 

[LiamShiff]

Thanks for the advice guys... I decided not to push to auction