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domain WeedBase.com

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Victoria897

Established Member
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I picked up WeedBase.com on an expiring GoDaddy auction some months ago. I signed a contract with an end user to sell it for $50,000 with payment to be made August 2019. The buyer is having a strategic review of their business. I don't want to go down the legal route if the buyer doesn't meet their contractual obligations so i'm open for renegotiating. I know that @Keith sold CannaHub.com for $24,000 so I would expect WeedBase.com to attain a similar amount although at this point I would be open to getting what I paid for it back for an immediate sale.

A lot of weed domain sales are not reported hence why I am opening this thread.
 

Jv1999

Wander Aimlessly: Redeemed Knight of the Exo-Tower
Impact
3,138
Wow! That's an awesome awesome price. But I guess what you paid for is on nb... and... ah....

I believe you should consult an attorney. Free consultation. You don't have to go the legal route (courts). All it takes is a demand letter and the obvious scare of paying legal fees (yours and his) that would make the buyer think twice about not paying 50k or whatever smaller amount you'd agree to.

The attorney will send a demand letter, and then there might be an offer there with: "but if u agree to pay $30 - 40k for weedbase, then we're willing to promise not to pursue legal action and blahblah settlement."
 
Impact
11,677
I picked up WeedBase.com on an expiring GoDaddy auction some months ago. I signed a contract with an end user to sell it for $50,000 with payment to be made August 2019. The buyer is having a strategic review of their business. I don't want to go down the legal route if the buyer doesn't meet their contractual obligations so i'm open for renegotiating. I know that @Keith sold CannaHub.com for $24,000 so I would expect WeedBase.com to attain a similar amount although at this point I would be open to getting what I paid for it back for an immediate sale.

A lot of weed domain sales are not reported hence why I am opening this thread.
What kind of contract?

I think the reality is that it’s worth $1k to maybe $5k. Branding a company under “weed” or “pot” isn’t going to be big. You can spend money to try to make them pay $50k but you might lose in the end. I’d let it go if it was me.
 

Victoria897

Established Member
Impact
5
What kind of contract?

I think the reality is that it’s worth $1k to maybe $5k. Branding a company under “weed” or “pot” isn’t going to be big. You can spend money to try to make them pay $50k but you might lose in the end. I’d let it go if it was me.

It was a Domain Purchase Agreement - I was based under English and Welsh law (I live in London) so would be enforceable but I really don't want to go down that route.
 

Jv1999

Wander Aimlessly: Redeemed Knight of the Exo-Tower
Impact
3,138
What kind of contract?

I think the reality is that it’s worth $1k to maybe $5k. Branding a company under “weed” or “pot” isn’t going to be big. You can spend money to try to make them pay $50k but you might lose in the end. I’d let it go if it was me.

Bro, she said "I signed a contract with an end user to sell it for $50,000 with payment to be made" that's a contract in writing. It's more powerful than just an oral contract.

It doesn't matter what weedbase is worth, whether 1k or 100k, there was an agreement on a price and a promise of purchase. The seller relied on the contract by exclusively not selling it to anyone else. So there's damage right there.

It's not about winning or losing. You're thinking court, we're thinking scare. Just get a free / cheap, but competent lawyer who will send a demand letter... That's all you really need. If the lawyer sends it for $100 - 300, then the buyer decides to ignore, then you can either decide not to go to court or go to court.
 
Impact
11,677
Bro, she said "I signed a contract with an end user to sell it for $50,000 with payment to be made" that's a contract in writing. It's more powerful than just an oral contract.

It doesn't matter what weedbase is worth, whether 1k or 100k, there was an agreement on a price and a promise of purchase. The seller relied on the contract by exclusively not selling it to anyone else. So there's damage right there.

It's not about winning or losing. You're thinking court, we're thinking scare. Just get a free / cheap, but competent lawyer who will send a demand letter... That's all you really need. If the lawyer sends it for $100 - 300, then the buyer decides to ignore, then you can either decide not to go to court or go to court.
Good luck with that...
 

Jv1999

Wander Aimlessly: Redeemed Knight of the Exo-Tower
Impact
3,138
Good luck with that...

Well if you're not going to try, then you're not going to try. People who have never sought legal action always have the mentality that they'll lose so why bother. It's why big companies get away with so much.

I have binding contracts that were left unpaid (undeveloped) in low xxx. I can do the same thing, but I'm not going to bother... why? because it's too little money.

But the buyer here in question is obviously some huge company / big-name person if they could agree to $50k. Small ppl who agree to xxx don't care about a demand letter. But big buyers will care. And you two are already self-defeated because you think it's a waste of time.

If you go the court route, the court records alone, and credit history tarnishment will be enough to make them pay something. But whatever, if you want to lose before even trying. I guess.

You guys have been around since 2007, so maybe you know more. I'm just saying 50k is 50k. A small scare, like a demand letter (look it up), could land you a possible 20k.
 
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11,215
You paid $9,500 for this domain in auction? That is very rich.

Weed is a bit more on the taboo end of the cannabis spectrum, and usually commands a lower amount next to pot.

I signed a $50K contract with a $100M company once, they paid $7K then defaulted.

I would recommend you get a $10K deposit, so you at least get your cost back worse case scenario.
 
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Jv1999

Wander Aimlessly: Redeemed Knight of the Exo-Tower
Impact
3,138
You paid $9,500 for this domain in auction? That is very rich.

Weed is a bit more on the taboo end of the cannabis spectrum, and usually commands a lower amount next to pot.

I signed a $50K contract with a $100M company once, they paid $7K then defaulted.

I would recommend you get a $10K deposit, so you at least get your cost back worse case scenario.

wait really? but every1 calls marijuana, weed. i didn't know it was a bad nickname for it. Hmm thanks :D now i have ideas XD
 

Victoria897

Established Member
Impact
5
You paid $9,500 for this domain in auction? That is very rich.

Weed is a bit more on the taboo end of the cannabis spectrum, and usually commands a lower amount next to pot.

I signed a $50K contract with a $100M company once, they paid $7K then defaulted.

I would recommend you get a $10K deposit, so you at least get your cost back worse case scenario.

For context - I live in the UK and Weed is the term that everyone uses for marijuana. There is not a negative association.
 
Impact
11,677
For context - I live in the UK and Weed is the term that everyone uses for marijuana. There is not a negative association.
The internet is worldwide though. If things were based on geography then .us would have value. We all know how that is...

A company wanting your domain would have expectations to brand everywhere, not just locally.
 

Victoria897

Established Member
Impact
5
The internet is worldwide though. If things were based on geography then .us would have value. We all know how that is...

A company wanting your domain would have expectations to brand everywhere, not just locally.

I'm not disagreeing with you. I purchased the domain as a legalization play not a medical-usage play. I think their is a cultural misunderstanding in the different terms which I didn't understand when I purchased.

I didn't do any outbound marketing with this domain so I still believe it has value and I'm happy to wait for the market to come to me.
 

Victoria897

Established Member
Impact
5
I know that @Keith sold CannaHub.com for $24,000 so I would expect WeedBase.com to attain a similar amount although at this point I would be open to getting what I paid for it back for an immediate sale.

I'm happy to wait for the market to come to me.

And before anyone corrects me on this there is no contradiction. I would accept a zero profit deal for immediate settlement (I have unrelated credit card debt) but for anything else I will let the market play out.

The agreement rights are transferable - has anyone any experience of such a deal? I haven't found any examples on this board - this might work out well for both the buyer and seller.
 
Impact
11,677
And before anyone corrects me on this there is no contradiction. I would accept a zero profit deal for immediate settlement (I have unrelated credit card debt) but for anything else I will let the market play out.

The agreement rights are transferable - has anyone any experience of such a deal? I haven't found any examples on this board - this might work out well for both the buyer and seller.
If you paid $9500, you’re going to take a serious loss. You can wait for years but that won’t change the reality.

Sometimes getting some money back is better than holding out for years and getting no money back.
 
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