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The Minimum Offer Guessing Game On Dan.com

Located in Domain Marketplace Reviews, started by lknights1987, Sep 12, 2021 at 8:47 AM

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757

  1. lknights1987

    lknights1987 Established Member

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    Why has @DAN.COM removed the minimum offer indicator?

    When a potential buyer now types in a number and goes to the next option a message appears

    "Your offer does not meet the minimum starting offer requirement set by the seller"

    This is going to reduce the number of offers. Please change it

    [​IMG]
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. garptrader

    garptrader Top Contributor VIP ★★★★★★★★★★

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    Oftentimes when a seller seeks a $XXXX sales price they do not want to waste time entertaining offers under $100 which will only waste time and never result in a sale.
     
  3. Dude called Michael

    Dude called Michael Established Member

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    Personally, I like it better this way and think it will lead to improved offer quality.
     
  4. NickB

    NickB it's a mystery VIP

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    On DAN you already have the option to set your minimum bid to whatever you like - why hiding the amount is supposed to better is a bit of head scratcher for me.

    I think DAN responded along the lines of it cutting down on people just bidding the minimum amount and increasing the initial offer....
     
    Last edited: Sep 12, 2021 at 10:11 AM
  5. lknights1987

    lknights1987 Established Member

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    Most of my domains I list with BIN prices and then the make offer price will be minus 40% of the BIN price. So if you're a buyer you're guessing what the minimum offer is to start negotiations this is going to frustrate the potential buyer. I think it would be good for @DAN.COM to just show what the minimum make an offer price is even if someone types in $50 they'll just keep going up $1 at a time and then we'll probably see a spike in fake offers which I'm already seeing.
     
    Last edited: Sep 12, 2021 at 10:22 AM
  6. xeroox

    xeroox Established Member

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    They got persuaded by some people in their main thread that asked about this "issue" everyday
     
  7. Mary Muse

    Mary Muse Restricted (85-100%)

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    Yeah it's BS and DAN isn't listening. Hiding the minimum offer is absolutely stupid.
     
  8. DNGear

    DNGear Domainnaut VIP

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    I have requested them to change this setting and show the min offer. It seems they didn't care. I have changed all my domains to BIN only because of that,
     
  9. lknights1987

    lknights1987 Established Member

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    Have you seen an increase or decrease in your sales because of the change ?
     
  10. Finest

    Finest Top Contributor VIP

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    ...
     
    Last edited: Sep 12, 2021 at 1:46 PM
  11. DNGear

    DNGear Domainnaut VIP

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    I have 2 big sales. But i am not sure how many left without negotiation.

    Creator.xyz 19888
    Common.xyz 12888
     
  12. DomainRecap

    DomainRecap Top Contributor VIP

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    This option should be set by the USER and not totally changed one day without any notice or option to reset back to the standard DAN format that people have used for years.

    This smells of the "squeaky wheel syndrome" where some of the "big fish" complained about it, while everyone else was happy with the status quo, so based on that extremely-limited feedback, DAN decided to do a 360 and hide the min offer.

    SQUEAK! SQUEAK!

    What I have found (based on analytics) is that "hidden offer" feature it is irritating potential buyers, who then search on alternate venues (like GD, Sedo, Afternic, etc.) for the same domain and proceed to make an offer there.
     
    Last edited: Sep 12, 2021 at 2:53 PM
  13. DomainRecap

    DomainRecap Top Contributor VIP

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    [​IMG]
     
  14. twiki

    twiki Top Contributor VIP Gold Account

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  15. DomainRecap

    DomainRecap Top Contributor VIP

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    As I stated, I have found (based on analytics) that the "hidden offer" feature is irritating some potential buyers, who then search on alternate venues (like GD, Sedo, Afternic, etc.) for the same domain and proceed to make an offer there.

    I made a couple of nice sales at GD from buyers who used that route, so it's not a scenario where the buyer is just "being cheap".
     
    Last edited: Sep 12, 2021 at 5:04 PM
  16. karmaco

    karmaco Top Contributor VIP

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    Its not earth shattering really. If you have a bin the offer zone is implied. Why should fellow domainers, the very cheap or udrp seekers know your floor upfront? They often don’t on Afternic without inquiring. I actually like the change. Those minimum offers were showing up on Google. I never understood the sense in $100 offers anyways unless you are a low flipper.
     
  17. lknights1987

    lknights1987 Established Member

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    Not everyone would set a minimum offer of $100. For me if I’ve set a BIN price of $1k for a domain I’m setting the make offer minimum price to $600.

    Before this crazy change I’m sure some domainers were setting the minimum offer as there BIN price ( leaving BIN empty) and doing quite well selling domains with this strategy.
    It’s not exactly hard to add a turn on/off setting for buyers to view minimum offer without keeping them guessing what the minimum offer is and then getting frustrated resulting in them walking away.
     
  18. Lox

    Lox _____ VIP

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    In order to "blank" the frontrunners bot (fake buyers) and prevent them from (seriously) ruining your sales, the minimum offer should be invisible. Front-running is a growing concern for the domain aftermarket.

    (@ Dan In the past, I'v seen the MO prices are fluctuating wildly from one day to the next. A smart move would be to keep the MO stable on min 60% of BIN.)

    Regards
     
    Last edited: Sep 12, 2021 at 10:27 PM
  19. hxp

    hxp SuperDuperUltraRarePremiumHolographic Member VIP

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    Having a min. offer - but not showing it - but still enforcing it, is dumb.

    Anyone can figure it out and send you the min. offer anyways. I literally just tried it myself with a couple different domains; took me less than 10 seconds to figure out the min.

    If they really want to hide it, they should let the buyer submit the offer then immediately send them an email saying 'the offer was automatically rejected because it was too low' and give them an opportunity to try again with a higher offer. In other words; instead of setting a 'min. offer', give the seller the option of automatically rejecting offers under $____.

    Edit:

    On second thought, even that can be easily circumnavigated...

    My advice then is to just get over it. lol.

    Show the min offer or don't set one at all, and deal with the consequences of whatever you choose. Because, setting a min. offer but not showing it is more likely to frustrate the buyer and encourage them to go in a different direction than it is to provoke a higher offer out of them. At least if they're able to submit the min. offer, a serious buyer will be engaged, and you can then negotiate up towards your desired price.

    2 tips off the top of my head:

    1. Set more realistic min. offers; if you set it to $100 but then get mad about recieveing offers of $150 or $200, that's your own fault. Set it to $500 or $1000 or w.e range it is that's closer to your desired price.

    2. Use '9's; set your min. offer as $99 or $999 or $9999 etc. This makes it a little more clear to the buyer that the min offer is more of a range than an expected price.
     
    Last edited: Sep 13, 2021 at 12:43 AM
  20. Mary Muse

    Mary Muse Restricted (85-100%)

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    This.

    Min offer should be transparent and let the prospective buyer know your intentions. There is zero upside to having them waste their time guessing.

    I don't have any domains with $100 min offer, so I don't have the "luxury" of a prospective buyer getting the conversation started constructively.

    If I have a 5-figure+ min offer, you really think they're going to keep dicking around and shoot-the-moon? No.
     
  21. DomainRecap

    DomainRecap Top Contributor VIP

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    Once again, all anyone is asking for is the FREEDOM of CHOOSING which OPTION you want to use on your OWN AUCTIONS.

    Clear?

    If Dan is going to do a total 360-degree shift and remove their long-standing tradition of displaying the bid minimum, and change to totally hiding minimum offers, why in the world would such a quantum shift be all-or-nothing in the new direction?

    Logically there should be an Old/New slider to let users choose between Display and Hide minimum bids.
     
  22. DomainBarracksRob

    DomainBarracksRob Top Contributor VIP

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    Hi, congrats on the wonderful sales again.

    question…I noticed that as well as removing the make offer, you have also removed the 12 month installment Payment option. What is your reasoning for this?

    I would think it would help with higher prices…but I noticed I do like the way it makes the checkout button look/appear…”checkout” now ..one less step to checkout buy and purchase. Just curious thank you!
     
  23. karmaco

    karmaco Top Contributor VIP

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    Its not your platform and you don’t make the rules. You can always take your name elsewhere and pay double digit commissions.
     
  24. DomainRecap

    DomainRecap Top Contributor VIP

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    No, the "squeaky wheels" seem to make/change the rules, so maybe it's time anyone who doesn't like it starts squeaking really loud. Seems to have worked for the tiny minority of "hidden offer" supporters.

    You seem to be one of "those people" who squeak and squeak to get what they want, then immediately after tell dissenters to "shut up", while working extra hard to make sure no one *ever* gets the option to switch back or choose whether to not use the "squeaky wheel" system you and your cronies screamed and yelled so hard to get.

    Exactly how does allowing those who want to choose between the long-standing format of displaying the min bid and the new model of hiding it affect you? Seems like a perfect solution to the problem. The "squeaky wheels" get the hidden offers they squeaked so hard to get and anyone else can leave it the way it was for years.

    You obviously disagree, so please elucidate on the many detrimental effects you will undoubtedly face from a New/Old slider on minimum offer price?
     
    Last edited: Sep 14, 2021 at 1:33 PM
  25. kite26

    kite26 Fearless Bird VIP

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    They can simply add an option allowing you to choose if you want to indicate the amount of minimum offer to the buyer or not.
     
    Last edited: Sep 14, 2021 at 1:39 PM

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