Strategy for selling? Need help!

[drronin]

I've owned since 1996 a pretty decent undeveloped domain (luminance dot com) which has recently been appraised by Afternic at $50k, and some folks on namepros agree that it could go for $xx,xxx so that is reassuring.

My question is 'what is my best strategy for getting the highest return?'

1) auction? if so, where is best? How to set reserve, minimum, buy now etc.
2) only buy now? if so, where is best?
3) forget the listing services, and just put up a landing page saying the domain is for sale with my email address?
4) something else?

I don't want to wait forever to sell it, because I'd like to put some of the proceeds into developing another domain.

Right now I have a potential buyer for around $7k but seems too low. I'll put some pressure on them to go higher but not sure what to counter with. Likely will walk away from this one--don't have a good feeling about it.

Thanks to all!

Rod

 

[nielsencl]

The feedback you have been getting for the domain may be accurate, but the site I use to check domain value (automated and cannot be counted on) generally overvalues domains and it only says your domain is worth about $2,400.

My personal feeling is that both are wrong and your buyer offering $7k is not a bad price. After all, how much did you pay for the domain and how many high offers have you gotten over the years? Those two pieces of information may be your best indication of what the real "market" value is.

I don't like Afternic, but maybe you should let them try to sell it since they think it's worth so much. If they tell you to seriously consider a price much lower, ask them for a refund on their appraisal (if you paid for one). Otherwise, contact other places like SEDO and maybe some brokers to see how interested they are in selling your domain and for what price. Talk to enough people that actually sell domains and you should be able to tell what the best options are.


Sorry I can't be more helpful. Good Luck!

 

[drronin]

Thanks very much. What automated service did you use? And you prefer SEDO to Afternic?

 

[nielsencl]

Domain sales

I used a system that takes what Estibot provides and them modifies it. I use it because the estimates are generally the highest possible amount that may be possible and it often is very close to what domains sell for. Like Estibot I only use it as a quick guide. But like I said I was surprised that it's estimate was so low.

I don't think much about SEDO either but it's hard to argue with the number of domains they sell. To be honest Afternic might do a better job, but I don't like how they ignored me and my account when I was with them. Perhaps my domains were no good, but ignoring customers is never a good idea.

I would check out the sales page at dnjournal.com and look who the big players are that are getting deals done. Then I would contact each and ask them what they can offer you in the way of:

1 - How much do they think they can get for the domain. (Should be price range.)

2 - How long do they think it will take. Give them a limit just as we do when selling a home.

3 - What will the commission be? A lower fee may not mean more money for you.

4 - Ask them if they will be doing some research to find a specific buyer. Like a lighting company or a company that is current using the name in some way.

Good Luck!

 

[drronin]

To follow up a little... I used DomainIndex.com to appraise luminance also--came up with $5k. Then I used it to appraise catchfire.com--a domain I sold for $27k several years ago (the only domain I've ever sold) --it came in at $4280 appraisal. Just goes to show that these appraisals cannot take into account an enduser's vision of the profitability that the domain name can unlock for them. In the end I guess that is all that matters, isn't it?

Catchfire was bought by a Minnesota marketing company. Luminance is being considered by a web magazine division of the largest multimedia company in Africa, probably for a high fashion magazine and possible web retail outlet.

Rod

EDIT: Thanks nielsencl---saw your post after I had already posted mine. Sounds like great advice--much appreciated!