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Something I have learned to do while offering domain names to end-users is to carefully analyze their responses and use that information in my favor during the negotiation process. Here are a few examples of responses I have received and what I have done with them.
In response to a message offering him a domain name, the CEO of a mid-size company answered:
"Everything is possible."
The name I was offering him was a name I bought from GoDaddy Closeouts for mid $XX. It was a short two-word descriptive name that referred to a communication service. The name was not great, but it looked and sounded very well. I liked it, but it was far from being a premium name. I am usually very realistic with my pricing and do not tend to have extreme expectations. This was a name for which I could accept mid to high $XXX. However, the "Everything is possible" response made me reconsider my price.
My quote in response to the CEO was low (close to mid) $X,XXX. We negotiated for a few minutes. He indicated he had better names, which I had confirmed doing a Whois check. He was not in an urgent need of my domain. I considered the matter and sold it to him the same day for low $X,XXX.
On a different occasion, an end-user sent me a message. I was at work and was unable to respond. He sent me another message about one hour later. We then talked by phone and I realized he was really serious about buying that domain. It was a brandable domain. We negotiated and the price was set about $2000 (it was about four years ago).
Have in mind that I have certain names to which I assign a specific price based on several factors. For example, geo city + product or service names usually have a tag of about $500, unless they are really valuable keywords. But there are certain names for which I keep an open mind in terms of pricing. Certain two-word descriptive or brandable names are priced based on a variety of factors, including how many offers or responses I have received for the same name.
For instance, if I have a name for which I have done end-user outreach, without a price, and I have received two or three responses, I know the price could be set higher than names for which only one response has been received.
In essence, end-users' wording and responses must be carefully analyzed before you answer them or before you start negotiations. Every word and gesture counts and hold a clue.
In response to a message offering him a domain name, the CEO of a mid-size company answered:
"Everything is possible."
The name I was offering him was a name I bought from GoDaddy Closeouts for mid $XX. It was a short two-word descriptive name that referred to a communication service. The name was not great, but it looked and sounded very well. I liked it, but it was far from being a premium name. I am usually very realistic with my pricing and do not tend to have extreme expectations. This was a name for which I could accept mid to high $XXX. However, the "Everything is possible" response made me reconsider my price.
My quote in response to the CEO was low (close to mid) $X,XXX. We negotiated for a few minutes. He indicated he had better names, which I had confirmed doing a Whois check. He was not in an urgent need of my domain. I considered the matter and sold it to him the same day for low $X,XXX.
On a different occasion, an end-user sent me a message. I was at work and was unable to respond. He sent me another message about one hour later. We then talked by phone and I realized he was really serious about buying that domain. It was a brandable domain. We negotiated and the price was set about $2000 (it was about four years ago).
Have in mind that I have certain names to which I assign a specific price based on several factors. For example, geo city + product or service names usually have a tag of about $500, unless they are really valuable keywords. But there are certain names for which I keep an open mind in terms of pricing. Certain two-word descriptive or brandable names are priced based on a variety of factors, including how many offers or responses I have received for the same name.
For instance, if I have a name for which I have done end-user outreach, without a price, and I have received two or three responses, I know the price could be set higher than names for which only one response has been received.
In essence, end-users' wording and responses must be carefully analyzed before you answer them or before you start negotiations. Every word and gesture counts and hold a clue.
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