question When do you give in and accept that $300 - $1000 offer?

[NickB]

Been happening a lot to me over the last 12 months.......

Posted earlier that I was messing around a lot last year with nameservers, pricing etc and was not consistent

I have now set BIN's on DAN with min offers in place and on Sedo, Afternic and Godaddy all at make offer ranging from $100 - $1000 to help gauge interest more than anything else......

I have had numerous offers in the $300 - $1000+ range and have flat out rejected them or countered and heard nothing back......also a lot of enquiries that went nowhere......

A few after countless back and forths never budged on their opening offers or raised to a level that I found not acceptable so I have raised the BIN on some and left others at the original BIN and not bothered replying back to some of them......one especially pissed me off so have tripled the price and renewed for a further 12 months

So does there come a point where you have to start accepting some of these offers for cash flow, renewals or do you stick to your guns?

I do not need the money per say so can keep doing this, but sometimes I have a nagging voice in the back of my head (and no it's not the wife @johnn !) saying just accept a couple of them, buy a better domain or renew a few of the good ones......

I'm at just below 300 domains - dropping down to around 230 - 250 in the next few months so on one side it would be nice to cover the renewals on the other side I can wait for a potential better pay day

Asking for your personal experience, opinions etc on what you do when you have a spell of offers and enquiries and no sales..........

 

[johnn]

1. Don't be greedy. Most mistakes people have are they think the offer is too low compare to what you THINK it should worth. Cash flow is important even if you don't need the money.
2. Forget about the fake offers and move on. Nothing you can do about it
3. it's your wife voice that complaining and nagging. They have invisible power and only the husband can hear and suffer even if they are 1,000 miles away from you.

 

[NickB]

1. Don't be greedy. Most mistakes people have are they think the offer is too low compare to what you THINK it should worth. Cash flow is important even if you don't need the money.
2. Forget about the fake offers and move on. Nothing you can do about it
3. it's your wife voice that complaining and nagging. They have invisible power and only the husband can hear and suffer even if they are 1,000 miles away from you.

Sound advice - this could be the issue, greed clouding my judgement - Should of known this really....been called a greedy little basta*d since I was a kid......

 

[Laguna]

Sound advice - this could be the issue, greed clouding my judgement - Should of known this really....been called a greedy little basta*d since I was a kid......

Love a bit of honesty

 

[AEProgram]

Always reply with whatever the amount it is you want.

Domaining is a business of waiting a long time in order to possibly make a good sale. It could be 5 years, 15 years etc. However you must know your names, most names do not have a buyer even for 10 bucks. For the good names you have, just wait.

 

[capiche]

I believe you have to also realize at some point that they can’t ‘all’ be winners. That goes right along with what johnn said about not being greedy. The vast majority aren’t going to command those huge figures that we all hope for.

I’m guilty of it too, and have tried to start taking profit here and there on some names with the thought that some profit now is better than uncertain profit months or possibly years later.

But.... I also believe it all comes down to getting to the point where you actually have a real grasp on domain values, being able to appraise and price your domains correctly, (i.e aftermarket purchases vs very good hand reg domains), and figuring out and feeling good about which of those domains you definitely should stick to your guns with.

 

[garptrader]

Given the hundreds of available TLDs and hundreds of competing aftermarket domains for most keywords, potential buyers have many options. The vast majority are not looking to spend five figures on a domain name.

 

[NonHipster]

It depends on the domain name. If you have a great dot com domain, hold out for a great price!

 

[HotKey]

I have had numerous offers in the $300 - $1000+ range and have flat out rejected them or countered and heard nothing back......also a lot of enquiries that went nowhere......

One of the best pieces of advice I ever heard on here was from Kate;

The first offer received is very often the last you'll ever get.
Any offer should be considered even if it's below your expectations, when the odds of a better offer in the near future are slim. The small sales add up and contribute to cash flow.

And I have never looked back.. unless it's a name that really needs "percolating".. in other words sit on it and hope for the best, or take the best you'll ever get.

 

[Bob Hawkes]

A great question/situation by @NickB and numerous sensible and sound replies.

Clearly what one should do depends on the name - some definitely hold out, and while it may take many years, odds are they will fetch that price. This is mainly for names that are clearly 'best in available class' for niche with no significant negatives.

Others, while good and totally useful, are not really in that class, and have alternatives more or less equally acceptable. In those cases, I think it is easy to cloud our judgement through our own history and perceptions of our own names - often looking only at the positives. It can be helpful to ask someone who has not selected and held the name to suggest a price with no information of the offer. If the offer is near that price, I would accept the offer, in many cases.

Some buyers simply can't afford more than $$$ to low $$$$. They are starting a small one-person operation and have already borrowed money from relatives to get started, don't yet have cash flow, the bank will not loan to them. I think someone should be selling some domain names in their price range.

Anyway, the simple, but not very useful, answer is.... it depends!

Bob

 

[NickB]

your right @Bob Hawkes there have been some great posts in this thread, yours included .....It's been very helpful and insightful.......

I actually have a negotiation going on at this moment in time (offer came in a couple of hours after I created my post) and have re read this thread a couple of times now to help with my mindset....my paranoia tendencies half think the offer was made based on this thread to test me out

 

[FolioTeam]

your right @Bob Hawkes there have been some great posts in this thread, yours included .....It's been very helpful and insightful.......

I actually have a negotiation going on at this moment in time (offer came in a couple of hours after I created my post) and have re read this thread a couple of times now to help with my mindset....my paranoia tendencies half think the offer was made based on this thread to test me out

Lol

 

[biggie]

Hi

if, we don't know what the names are,
then
how can advice be given.

and, if you don't need the money
then
why you need to give in?

imo..

 

[NickB]

Hi

if, we don't know what the names are,
then
how can advice be given.

and, if you don't need the money
then
why you need to give in?

imo..

Come on

General advice is not specific in nature.....

Not needing the money is one thing......that nice warm fuzzy feeling of a sale going through is another

 

[Super-Annuation]

If you're tempted to take the money, the domain you have should be sold.

If you owned Crypto.com, you wouldn't be tempted or asking this question.

If you owned NewsCentral.com, you wouldn't be tempted or asking this question.

If you owned SillyVagina.com, and you're tempted to sell or ask this question... Then you should probably sell.

However, there's a lot of factors that go into valuation... So be prudent and sensible.

Summary: if you're tempted to sell it for peanuts, then it's probably worth peanuts. Go hard monkey fella.

 

[Dandelion]

Sometimes you need to listen to that voice from behind, accept, and move on.

I just sold one for $330. Insisted on $2,888, $2,000, $1,200, $888, and $550. The fella managed to move from $50 to $100, and finally $300. We did this over the period of a month and some days but he never budged.

Then a tiny voice from behind asked me to accept it, that we really need this at this time. I listened to her and did.

Deal closed today! After all, I got it for $17.49 less than 2 months ago.

 

[L.A. Randle]

Been happening a lot to me over the last 12 months.......

Posted earlier that I was messing around a lot last year with nameservers, pricing etc and was not consistent

I have now set BIN's on DAN with min offers in place and on Sedo, Afternic and Godaddy all at make offer ranging from $100 - $1000 to help gauge interest more than anything else......

I have had numerous offers in the $300 - $1000+ range and have flat out rejected them or countered and heard nothing back......also a lot of enquiries that went nowhere......

A few after countless back and forths never budged on their opening offers or raised to a level that I found not acceptable so I have raised the BIN on some and left others at the original BIN and not bothered replying back to some of them......one especially pissed me off so have tripled the price and renewed for a further 12 months

So does there come a point where you have to start accepting some of these offers for cash flow, renewals or do you stick to your guns?

I do not need the money per say so can keep doing this, but sometimes I have a nagging voice in the back of my head (and no it's not the wife @johnn !) saying just accept a couple of them, buy a better domain or renew a few of the good ones......

I'm at just below 300 domains - dropping down to around 230 - 250 in the next few months so on one side it would be nice to cover the renewals on the other side I can wait for a potential better pay day

Asking for your personal experience, opinions etc on what you do when you have a spell of offers and enquiries and no sales..........

The thing I learned in this business is either you will create value around the domains that you own, of you will let the market tell YOU how much your digital assets are worth.

I used to navigate the industry the same way. Low ball offers never got a second look, which put a gap in my cash flow.

Cash flow is important, undercutting your prices will kill your business. Let's face it, everyone in this game is trying to get dirt cheap domain names so that they can double the price and flip for more. It's the game.
It's the game that I didn't want to play, so I made my digital assets VALUABLE, that way I was able to sell them around price points I thought they were worth. It's something I've shown many of my clients.

Most people were saying the same thing when it came to people trying to lowball their assets. Don't get me wrong, some of those properties weren't worth even the low ball offers they were getting, and that was something we had to assess together.

On the other end of the spectrum, some offers were just downright offensive.

Discernment is your greatest friend when it comes to accepting and rejecting an offer. Sometimes it's not greed, sometimes it's just you knowing what something is worth.

Turn that lowball offers into high ball offers. That the beauty behind having control over how well your portfolio performs.

 

[Samer]

Yes, especially if it’s new ngTLD NON COM. —SUCKS!!

 

[Joakim]

If you can easily reinvest that money in some equally or better names, sell!

I recently had an $1k offer, countered $10k, got a $2.5 offer. Countered $7.5k. Dead silence. Now I regret not taking the $2.5k. But I would still counter the initial offer, most times.

 

[Ostrados]

This trick worked for me for make offer domains:
Always counter never accept first offer even if it was very good offer because buyers may get in doubt that they are overpaying (and that the first offer was a mistake), counter with anything even if it is just $100 extra (at least this will eliminate fake offers) the important thing is to always counter. However try not to counter more than double of the received offer. Make min offer at least 50% of target BIN to filter out low ball offers.