Selling a domain - Start high or low?

[kbweb]

Is it better to start high or low when selling?

Starting high may get low-ball offers which are really good because the domain is overpriced. But starting low may encourage more to bid and create competition. So what's better?

Example:
A good .com was offered at $500 and got 10 bids quickly on SEDO. He, of course ignored the offers and is waiting for something better, but because the bidders see other bidders they think they have less chance and raise their bids.

The same name, with .org was selling for almost $10,000 and nobody bid of course.

 

[M Lawrence]

Start about midway if you get bids on it then sell, if you push to high people wont even look at your domain.

 

[kbweb]

Thanks

 

[nielsencl]

I think the worst thing about setting prices is the uncertanity. If you start too high, no one bids, but if you start too low, you may not get the full value.

But if you have the domain in a bidding situation, you can afford to start low since the bidding process should make the price go up to what the market value is. But of course that depends on who sees your aution. If you only get one bidder, like I see on auctions here at NP, you may have to let the domain go for the amount of the opening bid ( I have bought a number of domains for $1 this way). So make sure your starting bid is not too low and make sure the auction runs for a period of time, like 2-5 days to give other bidders time to find it.

If you are trying to sell and it's NOT an auction, then you want to start somewhat high if you can afford to wait for offers or a buyer that will pay the BIN price. The reason is that you can always lower your price, but not raise it.

What I like to do is post what I think is a nice price, and then say clearly that I will consider any offers. Sure I may get a $5 offer on a $100 domain, but I don't get insulted. I tell the person why that offer is too low and if I can educate them they may offer more. If not, they may remember that I was not angry with them and buy from me in the future.

 

[kbweb]

Good advice! Thanks.

 

[domainer50]

On ebay, I will generally have a reserve and start the bidding at $.99 or no reserve and start it at what the reserve would be. But in truth, I honestly open my domains to offers, and negotiate from there.

 

[rafaelrls]

You can start low, have a BIN in mind and define an amount for each bid increment.
Example:
start $100
Bin (only in your mind at first) $1000
bid increments $20

 

[-Alex-]

You can start low, have a BIN in mind and define an amount for each bid increment.
Example:
start $100
Bin (only in your mind at first) $1000
bid increments $20

Ye, I agree with that.

 

[johname]

if you start low it will finish low

but depends on where your selling

on sedo i like the "make offer" then counter offer higher

 

[anantshri]

well i got success with low start always,

starting low and then letting more people come in can realy push the domain above the limits.

 

[Robbie]

I find that you can make good money if you start in the middle but often I dont tell people the price I get them to pitch me an offer and I wait and see what they think and where it goes?

Feel free to rep me if this helped!

Regards,

Rob

 

[kbweb]

if you start low it will finish low

but depends on where your selling

on sedo i like the "make offer" then counter offer higher

It seems this is the case. On that $500 .com domain I made offers starting at $600 and went to $1200 on SEDO with no reply from the seller. The domain hasn't sold in several months, even with 10 bids. Buyers seem to use the low $500 as a reference and go up little from there. The domain appraised over in the low $x,xxx. (I think he owns the .net version too and I got a reply of $150,000.)

It's a waiting game.