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To BIN or not to BIN?

Located in General Domain Discussion, started by Federer, Mar 18, 2018

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10
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900

  1. Federer

    Federer Top Contributor VIP ★★★★★★★★★★

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    After having a reasonable amount of success over the past year with BIN-pricing/selling brand-centric domains, I am now running an experiment and have removed the BIN prices from close to 8,000 domains (most prices were frozen between $2K-$5K, sweet spot) to see if this adjustment increases sales, even if just by a little.

    BINs may move more inventory if priced right. However, "make offer" does hold some advantages:

    - these listings can generate more leads from buyers with smaller budgets (some of these could have moved on/been turned away from the "too high" BIN prices). These extra leads may lead to more sales
    - With "make offer", you are in a better position to negotiate higher sales for best names; prices can indeed be reviewed and tweaked on an offer-by-offer basis. Technology/new products are emerging on a daily basis and suddenly some names could spike in value. BIN (in these cases that are few and far between) would mean leaving potential profits on the table.
    - "make offer" also avoids selling domains that no longer belongs to you.

    Feel free to share your experiences with "make offer" / BIN-based sales. What works best for you?
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. Tshombe

    Tshombe Top Contributor VIP

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    I'm doing the exact same thing currently. I removed BIN from all my names at the beginning of the month to see the effect. It's going to be a 1 or 2 months experiment. I don't have nearly as many domains as you have so you'll definitely have a better valuation of this idea. Cheers.
     
  3. Haykay2005

    Haykay2005 Top Contributor VIP

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    They both have pros and cons. Either of the two is OK. Quality portfolio should be our target
     
    Last edited: Mar 18, 2018
  4. domeen

    domeen Top Contributor VIP

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    BIN only, because of those fast transfer networks. Up to $2k is BIN most.
    I personally don`t see any advantages to Make offer. Usually, too many cheapskates offering $90, time waste.
     
  5. Recons.Com

    Recons.Com Top Contributor VIP

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    My domain sold for 15k only because had not added the name on marketplaces and a broker contacted me.

    I would have priced it at around 9k bin.

    That said I still prefer bins
     
  6. maxtorz

    maxtorz Established Member ★★★★★★★★★★

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    1.BIN leaves money on the table, so I would never consider setting BULK BIN pricing.
    2.Make offer is a JOKE! I will save you all the hassle having used EFTY for 12 months+, 99% of offers will come as $100-$300 offers.

    IGNORING ALL inbound offers works best for me. I reply by stating my price, and followup until they buy from me :)
    I simply do not care what the inbound offer is...can be $100 can be $1000. It doesn't matter to me.
    Not a flipper anymore, I invest long term.
     
    Last edited: Mar 19, 2018
  7. Adam27

    Adam27 Blockchain.link VIP ICA Member

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  8. Joe Styler

    Joe Styler Aftermarket Product Manager GoDaddy Staff Afternic Staff PRO VIP

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    This lays out the best practices we use for our portfolio. What we’ve found works best for selling our names. It does cover bin and Make offer strategies.
     
  9. xeroox

    xeroox Established Member

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  10. Casey L

    Casey L Top Contributor VIP

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    I prefer BIN. Make offer leads to low balls, which are seldom redeemable for good sales. I think they might also scare real buyers away assuming you want an absurd amount
     
  11. namerav

    namerav Top Contributor VIP ★★★★★★★★★★

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    For excellent names - Make offer (you may provide range if you wish)
    For average names - BIN
     

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