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advice What do you say to a buyer that knows what you paid?

Namecheap

rentmynames

TheFinestDomains.com
Impact
1,055
How do you respond when the buyer says this about how much you paid:
inflated price- for $xxx domain which was sold a few months ago you were saying $xx,xxx.

The buyer cancelled the deal after she knew the price I paid ($xxx) for the domain 2 months ago.
 
Impact
1,089
How do you respond when the buyer say this.
The buyer cancelled the deal after she knew the price I paid ($xxx) for the domain 2 months ago.

Be diplomatic and probe. At this point the sale is dead in the buyers mind, so ask them what they would like to offer. They may come back at you with the price you paid...if that happens tell them to take care. If they come back with a somewhat decent offer, well now you have something to work with. You may never see the previous offer again from them but you can now try to pull them closer and you can always decline to sell if they don't come up far enough in the end. Don't worry about the previous high offer if they don't come close this time, they never wanted to pay it in the first place and are now just looking for a way out.
 

NamesAgent

Established Member
Impact
162
Clearly they want the name. What you paid for it is irrelevant. I would be courteous as to not burn any bridges, but kindly send them on their way. If they were ever serious about the original offer they may come back with another offer. If not, they were just looking for way out as E-Promote said previously.
 

anantj

Top Contributor
Impact
3,964
Not sure how you got that out of my post.

"You are likely not going to covert a buyer with that attitude."
Grammar lol. The subject isn't confusing in that statement! The "with that attitude" can also apply to "You" equally :)
Sorry, not being a grammar nazi but I was genuinely confused.
 

Smiles76

Established Member
Impact
365
I'd go with what @E-Promote says. At a min, say thank you for your time and please contact me if you change your mind.

Ps. An iPhone is manufactured for ~$350. Would someone, after knowing this, not buy the iPhone which retails at ~$800-$1100?

Wrong comparison. Think about real estate. If a buyer finds out that you purchased the house a couple months ago for $300,000 and you are now asking $1 million. Buyers would be equally upset unless you can justify what you DID to add value to the home (i.e. renovated the house, upgraded the electrical, etc.) The OP cannot explain what value he has added thus, the buyer doesn't feel the price in justified.
 
Impact
22,509
The value is in locating and securing the asset in the first place.
If domainers didn't exist, the good domain names would be registered by corporations or individuals anyway, but the big difference is that fewer of those names would be available for sale on the market.
Domainers have a place in the ecosystem because they provide end users with a supply of viable domain names at affordable prices.

Of course, this is not the kind of reasoning that people are usually willing to accept.

You know, it's almost like buying stocks at an early stage and reselling them at a profit later because they have appreciated. For example, I may have bought Apple stock in 1980 for $0.05, they are now worth $200+. So if I am going to sell them now, it will not be at the original price plus a small markup. No way.

Or BTC. I may have paid $300 for stuff that is worth 5K today. What I initially paid is irrelevant.
 

anantj

Top Contributor
Impact
3,964
Wrong comparison. Think about real estate. If a buyer finds out that you purchased the house a couple months ago for $300,000 and you are now asking $1 million. Buyers would be equally upset unless you can justify what you DID to add value to the home (i.e. renovated the house, upgraded the electrical, etc.) The OP cannot explain what value he has added thus, the buyer doesn't feel the price in justified.

Sorry, time and effort do add value. You obviously need to justify the "markup" (so to say. Markup is not the right word in this context). @Kate has explained it better and in more detail.
 
Impact
2,652
This really make me not happy

Hello XX,

Our Billing team has called the Escrow and GoDaddy, They have warned us for the cybersquatting by you and also informed that this domain was sold for $xxx USD 2months ago.

We are canceling the deal now.


WTH?

Have you contacted Godaddy about what she said they told her?

@Joe Styler
 
Impact
3,747
A sale occurs when a buyer and seller come to an agreement on price. The buyer may feel taken advantage of because you bought the domain at a much lower cost than your asking price. But how are you going to feel if years of experience (losing money initially) have taught you how to identify undervalued domains and then you are pressured to sell this domain for far less than what you could get from another buyer? Presumably they are not the only end user so if they do not want to pay your price good luck finding a comparable quality domain at some ridiculously low price.
 

frank-germany

domainer since 2001 / musician
Impact
13,316
Sorry, time and effort do add value. You obviously need to justify the "markup" (so to say. Markup is not the right word in this context). @Kate has explained it better and in more detail.

no need to explain
as the buyer doesn't want to understand

just renew the name for 10 years set it at afternic/undeveloped BIN
and forget about it

and of course don't have it at godaddy...
 
Last edited:

Bertrell

Top Contributor
Impact
4,353
On the one hand, buyers like that are possibly trying to get you to lower your price.

While asking "Could you come down on your sale price?" in a polite manner (versus condemning the seller right-off-the-bat) may not change anything, I'd give that a shot before being condescending or accusatory.

On the other hand:

Eff Those MFs 03.gif
.com

(pardon my abbreviations) :playful:
 
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