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Selling a domain over 50k- Sedo or Dan?

Labeled as advice in Domain Buying and Selling Discussion, started by colenot, Jul 30, 2021

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  1. colenot

    colenot Upgraded Member Gold Account ★★★★★★★★★★

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    Hey all,

    Where would you sell a domain over 50k? I saw a poll where majority voted Dan. Buyer wants to use Sedo.

    Also, my fiancee lives in Europe and they pay less taxes. I'd rather us pay 21% taxes instead of 35%. If I use Sedo or Dan, can I use her info to collect the money even though the domain is currently in my name?

    Thanks!
     
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  2. biggie

    biggie GreenFriendly.com VIP ★★★★★★★★★★

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  3. ecomslice

    ecomslice Top Contributor VIP

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    So many ways to avoid tax. I don't see this as legitimate post.

    2008 account. 33 posts. Hmmmm
     
  4. Samer

    Samer Restricted (15-30%)

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    Respect your 10+ year old Npers.

    This one deserves V.I.P imo.

    @Bravo Mod Team status VIP request?(!) ;)
     
    Last edited: Jul 30, 2021
  5. colenot

    colenot Upgraded Member Gold Account ★★★★★★★★★★

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    I've been a looky loo for years here and never sold a domain.

    Recently, I've been approached to sell a domain I've owned for 20 yrs. Price was negotiated now I'm trying to figure out how to pay less taxes.

    Not sure what's not legitimate about this. I've asked in several posts about creating an LLC for this transaction. Just want to pay less taxes for now and invest it into bitcoin.
     
  6. colenot

    colenot Upgraded Member Gold Account ★★★★★★★★★★

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    Buyer agreed to pay fees.
     
    Last edited: Jul 30, 2021
  7. enterscope

    enterscope Domain Investments VIP

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    It doesn't matter who the domain is registered to necessarily. You can transfer ownership easily. But it seems like you're walking a thin line by trying to save around 10%. Might run into legal/tax issues in Europe, funds get held up in the bank, or wife might take the money and run. You should just sell the domain with the lowest commission possible and take the money. Might prevent headaches in the future that could cost more than that 10%. Or consult with a tax professional that really knows, instead of random domainers. :)
     
  8. colenot

    colenot Upgraded Member Gold Account ★★★★★★★★★★

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    Thanks for your response. Lived in Europe for 10 yrs, but moved back to the U.S. 3 yrs ago. Currently, I'm back in Europe on vacation and head back home in 3 weeks. All this negotiating has taken place while I've been on vacation and now we're at the point of doing transaction on Sedo. Was going to talk to an accountant when I got back to LA, but things are moving fast. Like, deal can be done this weekend. My fiancee and I have been together for 9 years and totally not worried about her running off. That extra 10% is a little over 5k, so yeah, would like to have that much more to invest.

    I just read a poll about Dan vs Sedo where the majority say Dan, so it's making me question the platform. Apparently with Dan, buyer can't see seller's info where as they can in Sedo.
     
    Last edited: Jul 30, 2021
  9. biggie

    biggie GreenFriendly.com VIP ★★★★★★★★★★

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    Hi

    most, just swing on polls
    actual sales history going back a decade or more, tells true story

    imo....
     
  10. colenot

    colenot Upgraded Member Gold Account ★★★★★★★★★★

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    Interesting. Thanks!
     
  11. Deven Patel

    Deven Patel Founder, Alter.com Blue Account

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    If the buyer wants to use Sedo, then use Sedo. Buyers are super hard to come by. You should know granted you held on to the domain for 20 years.

    If you're in the US and not selling domains for business, you may only need to pay a lower capital gains tax so check with your CPA.

    Even if you use your fiancee, it's ultimately your money which I'm assuming you'll want from her at some point. If that money's going into your own bank account, there will always be a risk of you being audited.
     
  12. Mister Funsky

    Mister Funsky Top Contributor VIP

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    I would use Epik. Reach out to them via customer service and ask what method they have available for the least fee impact. They also transact via bitcoin.
     
  13. colenot

    colenot Upgraded Member Gold Account ★★★★★★★★★★

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    Good to know. Will research this. Thanks!

    Sedo sent me the transaction details. Going over the terms now. I've asked Sedo if they can split the funds to 2 different places, some to my paypal (their limit is 10k) and the rest by ACH to fiancee's account in Europe (totally not worried. She makes her own good money and is basically step mom to my kid).

    Seller agreed to cover fees so looking for that in the contract.

    Thanks for your help!
     
  14. comRaid

    comRaid Established Member

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  15. colenot

    colenot Upgraded Member Gold Account ★★★★★★★★★★

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  16. biggie

    biggie GreenFriendly.com VIP ★★★★★★★★★★

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    Hi

    Congrats!

    imo...
     
  17. Maximinus

    Maximinus Established Member

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    Congrats for you first sale!
    Respect for your patience!
    Good luck with the deal!
     
    Last edited: Jul 31, 2021
  18. colenot

    colenot Upgraded Member Gold Account ★★★★★★★★★★

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    Thanks guys! I have tried half-heartedly to sell some domains over the years, but failed miserably.

    This sale is happening only because they contacted me. In a way, I hate to let the domain/website go since I've had it so long and but....
     
  19. Robin A.

    Robin A. Established Member

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    Why not use Escrow.com? No commissions subtracted for you.
     
  20. colenot

    colenot Upgraded Member Gold Account ★★★★★★★★★★

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    Wait, if buyer agrees to pay all fees on Sedo, do I still have to pay a commission to Sedo?

    Also, do you know if escrow.com can split the payout (some to paypal account and majority by ACH to bank account in Europe)?
     
  21. carob

    carob Top Contributor VIP ★★★★★★★★★★

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    Both generate an invoice where you see seller's name and address - and here seller means the account holder, not whatever the domain name registrant's name is.

    If you wanted seller not to receive an invoice showing you as seller, you could sell via Afternic/Godaddy (15-20% commission), or via Namesilo (7% commission, much less if paid by wire, probably 3%) - but for that you'd need to transfer domain to Namesilo, which from many registrars can complete in minutes.
     
    Last edited: Aug 1, 2021
  22. carob

    carob Top Contributor VIP ★★★★★★★★★★

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    Dan's communications, interface and speed are better yes, but Sedo is reliable and established, and has a US presence which may reassure the buyer. Dan also does pure escrow, was 5% but now the payment processing fees are add-ons, but wire payment may actually reduce commission - check to be sure.

    You'd need to ask if either is willing to pay out to any party other than the account holder.
     
  23. colenot

    colenot Upgraded Member Gold Account ★★★★★★★★★★

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    Thanks for the info. Domain registrar is in fact Namesilo. Transferred my names there a few years ago.

    I've asked the Sedo rep who's helping with the transaction, about the seller paying the fees and splitting up the payout in our chat so just waiting for them to respond.

    Thanks to you guys, I have more questions that I'll be asking them.
     
  24. vincew

    vincew Established Member

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    Congrats on the sale.

    You could try SafeFunds.com escrow service. If the price is less than $100K their transaction fee would be $438 which is less than 1%.
     
  25. colenot

    colenot Upgraded Member Gold Account ★★★★★★★★★★

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    Thanks! Good to know!👍
     

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