Someone wants to buy my domain and don't know what to do

[LMG9]

I have owned a domain for a few years now that I use for a personal blog, email purposes and online persona. Recently I have been contacted by a person who wants to buy my domain. He is an accomplished author and has a new book coming out in the next few years. There is also a movie deal with this book that is expected to be released around the same time.

I've been looking all over the web and asked many people and I just don't know what I should expect as a reasonable offer. This site has great personal value to me and I never originally intended to sell it, but I will if the 'price is right', though I don't kow what that is.

At the moment, I've been holding back insisting he make an offer (as per tips on the web). It took over a week and a few email exchanges and he finally gave me a number and it was for $300.

I have paid about $350 in advance to maintain my site for the next few years, so his offer doesn't even cover my costs, not to mention the hours I will have to spend transfering everything, having to figure out how transfering a domain name is even done and the value the domain is to him (he has noted it is of great value and influences book sales.) If I were to keep the site, I can only expect my traffic to significantly increase and I could potentially turn that into revenue if I rebrand my site.

I don't think $300 is a reasonable offer. Other similar naming sites have set prices in the low thousands, but the author specifically noted that he really needs my exact domain (to match the title) because without it, it would negatively impact his book sales (he learned from previous experiences with books that he got the exact domain for vs. books that he didn't get the exact domain for.)

What would be a reasonable amount that I should expect him to pay? Any suggestions on how I should move forward?

 

[nicedomains]

Without even knowing the domain name, you're right, $300 is not a reasonable offer. You need to elaborate to the potential buyer just like to you did in the above post that you have time, money and personal ties to the domain name. I would respond in a couple days time saying that his offer is offensive considering the money and time you already have invested in that domain name. Tell him/her that when they have a serious offer to contact you but until then any negotiations in that price range are a waste of everybody's time.

Hard to say what a reasonable amount would be since we don't know the name but based on what you have invested and the fact it is your personal blog and probably has existing traffic and incoming links, a minumum four figure amount would be justified.

Btw.. Welcome to NamePros!

:wave:

 

[RazorNF]

I think his $300 offer is really not even something to consider. As you say he is an accomplished author who stands to gain financially (and likely significantly), given that he has a movie deal in the works.

There really is no specific "reasonable" amount. Since this is a domain you have for your own personal use, your situation is different than those of investors who have domains as just inventory.

At the end of the day, it all comes down to how attached you are to this name and what ultimately would make you happy, without regretting it down the road.

 

[Kate]

Funny, I bought a domain from an author recently for 1K Reasonable given the domain name and resources put into promoting his book.
As said above, it depends on the name. Perhaps the name is so-so and value stems mainly from development and SEO + your personal ties, or possibly infatuation
Perhaps the name is truly nice and would command 4 figures even without development. We can't tell without knowing the domain.

 

[JB Lions]

$300 is a joke

 

[LMG9]

Thanks everyone! Any and all input is appreciated.

Yes I did find it offensive when I got the offer even though I still don't have a number in mind. I think I literally made a "balking" sound when I read it.

Is it weird that I am having difficulty thinking of its worth? Should I just insist he comes back with a better offer first?

I am finding that I can't just sit here and think "okay, I will sell my site for X amount", but when I see amounts, like $300 and even $1K, I would say no. As for whatever the magic number is, it is primarily attached to my infatuation to the name than anything else. I did all that SEO stuff you are supposed to do and have advertising links on it that could easily make me lots of money should I post more and on topics that actually interest people. But geting a nice small (but not too small!) sum of money right now would be really helpful and I can suck it up and regroup under a new name later on when I have the time.


The name itself is unique and not in 'demand' in the sense that the only people that are probably interested in it are me, the author (and possibly the publisher, but not the movie studio from what I've read online) and a handful of small boutiques and online businesses who already own sites with similar names (and as such less likely to sell for less than any number I would accept.) I never thought in a million years someone would contact me to buy it. It is also a unique name in the sense that in the next few years there will be a lot of people typing my domain into their browser fully expecting to reach a site about this author, his book and the movie.

I still can't decide if that works in my favour or his.

 

[JB Lions]

Figure out a number you'd be willing to sell the domain for, that's the first thing you need to do. Counter with a price a little higher than that number. If he accepts, you'll be happy. If he counters with a number lower than that but higher than the number you'd be willing to sell the domain for, still good for you. If lower, than keep it. But you need to figure out the number you're comfortable with.

 

[johname]

There is also a movie deal with this book that is expected to be released around the same time.

He told you who he is? Seems like everyone an author now, how "accomplished" ? Lifetime channel movie?

Your in a rare position as you really can care less if he buys it, since its your site name and you like your site as it is.

So just tell him you dont need to sell it but if he wants it bad enough give you 10k (or some other number big enough you have a smile on your face when transferring files).

We are assuming no trademarks on the term.

We really cant offer an amount without knowing the name.

 

[DU]

So just tell him you dont need to sell it but if he wants it bad enough give you 10k

We really cant offer an amount without knowing the name.

Short term memory loss?

The answer is obvious.

How much to make you WANT to sell it.. ask for that. Anything short isn't good enough. Anything more is more than you need.

Maybe look for other names to reg first though - sometimes it's hard to find a decent available name. No point selling for $5K if you best 3 alternatives that you want to use are $10K.

If you don't need the money? Just keep it. $300 is peanuts for a domain you use.

 

[LMG9]

He told you who he is? Seems like everyone an author now, how "accomplished" ? Lifetime channel movie?

It is with a major movie studio. He didn't tell me this though. He didn't tell me much actually. He linked me to his official site and I have been communicating with him with a verified email that it is him (he gave me a number to call too, but I declined.)

With a simple google search, I learned through press releases that a major movie studio bought the rights for the movie pretty much the same time the book deal was made. I also learned he has won tons of writing awards so while this is his first (known) outing as a fiction writing, he has at least two non-fiction books and isn't some hobbyist.

Your in a rare position as you really can care less if he buys it, since its your site name and you like your site as it is.

So just tell him you dont need to sell it but if he wants it bad enough give you 10k (or some other number big enough you have a smile on your face when transferring files).

We are assuming no trademarks on the term.

We really cant offer an amount without knowing the name.

huh.. smile on the face while transfering files is actually a good measurement to go by! Thanks!

Short term memory loss?

The answer is obvious.

How much to make you WANT to sell it.. ask for that. Anything short isn't good enough. Anything more is more than you need.

Maybe look for other names to reg first though - sometimes it's hard to find a decent available name. No point selling for $5K if you best 3 alternatives that you want to use are $10K.

If you don't need the money? Just keep it. $300 is peanuts for a domain you use.

Good point. While it is just a personal blog at the moment, I did have some other plans for it in the future, hence why I have so much non-website stuff connected to it, just the blog itself isn't anything to shake a stick at.

 

[Name Trader]

As others have said, you have to figure out how much it would take for you to sell the domain. If there's a movie coming out, it's probably worth ten of thousands of dollars. Also as others have said ask for more than you want so that you have wiggle room.

 

[Mrwww]

Dont sell it,

Go and register the name name that you have but with movie on the end so you have the monopoly on the book and the movie.

When they release the media company catches on it wil be them that wants to buy it.

Nobody wants to invest 10 million into a movie and not be able to get hold of 10millionmovie.com



D.

Seems 10millionmovie.com is available, i might reg that for future reference...

 

[LMG9]

do it!

 

[BENNTEKK]

some money is better than no money a wise man always told me!

 

[LMG9]

he's upped to 1,000 and says he won't go any higher. Still claiming the site won't help him make money. No smile on my face.

 

[carob]

Register alternatives now in case you do want to use them later. If your buyer is rational they are doing similar right now - it would be interesting to know what names they own already. The author might actually be hoping to sell a name to the film studio.

You could research known sales of film and film title domains, for example at namebio.com.

Presumably the domain is the name of a book and film, not the name of a person. Do the research, and after that follow the good advice on here to decide what it is worth to you, but imo anything less than 10k is a waste of time. If you have the .com of the name of a successful film it will probably receive a lot of type-in traffic.

 

[Ben42]

There is something to be said for domains you have an emotional attachment to. I've had goodband(.)com which was the name of my band and I was the original registrant in 2000. It's not a 5 figure name, but I wouldn't sell it for less than mid 5 figures.

So you need to come up with a number, what is the least you'd want to go out and set your emotions on another name?

 

[LMG9]

This thread has helped me and I have a better grasp on the monetary value I would put on for my love for a domain.

I guess I'm not as attached as you, Ben as I would most definitely let it go in a heartbeat for anything XXXX above.

Carob, very good point. I could make much much more if I keep it and play my cards right. I essentially got this HUGE heads up "hey! You! Lots of traffic will be coming to your site in approximately 2 years and they will be interested in THIS topic!!" All I need to do is act accordingly.


Or wait as in a couple of years I'm going to have a movie studio contacting me to buy it.

 

[carob]

I guess I'm not as attached as you, Ben as I would most definitely let it go in a heartbeat for anything xxxxxx above

Seriously, research a bit before you make up your mind about a figure and no need to reveal it.

Fake impoverished buyers are a known gambit in domaining...writers use their imagination... you could mention that your kids need 75k worth of dental work and your partner wants to build an extension to your house for your next child and with the right 6 figure offer you could reluctantly part with the domain that has been the love of your life.

 

[johname]

I dont think the guy faking impoverishment (he links to his website) just probably a combination of clueless to domain value/not wanting it at any price.

\/ ok he is then lol thought the link was on purpose

How long have you owned the domain and how many offer to buy the name have you got?