You want HOW MUCH for a newly registered name???

[bluebox]

So I was contacted about the name I registered less than 2 weeks ago (after drop).
The offer is $30 - and as always my first instinct is to give them counteroffer lower than my (not shown) BIN - just to avoid comments like "why the hell are you expecting $1000 for the name you just registered?! You are scum of the earth! This is why we can't have nice things - because of the #$# squatters! Blah blah blah...."

How do you convince someone they should pay you 100x of a reg fee for a __ days old name.
What's your favorite comeback (assuming you actually bother responding )

I suck at negotiations - I wish sedo/afternic commission was lower so I could avoid the "human contact" part

 

[forge]

How do you convince someone they should pay you 100x of a reg fee for a __ days old name.

That's like beating a dead horse: you can never convince them. What I mean is, that should not enter the equation. Just stick with the price you want and go from there.

Also, it's my feeling that a dropped name is a different breed compared to something merely "hand-regged". The registration date doesn't matter, and besides you had the insight to track it and own it. If the inquirer is serious about the name, they will pay a fair price. If not, show them the door.

 

[hxp]

"I'll still own it in x years, and it'll still cost you $xxxx. Maybe more."

Ultimately, buyers either see the value or they don't. You can try to politely educate them, but there's no point in arguing with them.

Reminds me of this:

 

[ZapNano]

....

 

[bluebox]

So you wouldn't feel like a greedy #$# for asking $xxx+ for the name you regged just a few days ago?
When you think about it I didn't do anything that would justify 100x price tag. Just spent 10 minutes to go through expiring names list. And another 120 seconds to register it.

 

[Hypersot]

So you wouldn't feel like a greedy #$# for asking $xxx+ for the name you regged just a few days ago?
When you think about it I didn't do anything that would justify 100x price tag. Just spent 10 minutes to go through expiring names list. And another 120 seconds to register it.

just his inquiry justifies it imo
he pays for your talent at finding good names in 10 mins

 

[bluebox]

just his inquiry justifies it imo
he pays for your talent at finding good names in 10 mins

But why pay $xxx for someone's 10 min. work. It's a first/last name - not hard to find.

It's hard to be domainer when you yourself don't believe in your BS sales pitch

 

[Hypersot]

man, you hold a unique name that someone wants. Only you have that name in the globe.
All you have to do is find how much they want it and sell it to them so they can be happy and you can be happy.

There is no whys in this, just correct evaluation and communication skills

 

[ZapNano]

It doesn't matter you spent zero time of work. Accept the offer if it is ligit.
I had someone offered me $10million few days ago should I say no?

 

[forge]

But why pay $xxx for someone's 10 min. work. It's a first/last name - not hard to find.

It's hard to be domainer when you yourself don't believe in your BS sales pitch

Why aren't we all philanthropists and simply donate the names we register? Because capitalism. Of course it is an option, adhere to the "domaining as a hobby" doctrine and give graciously to the "needy" as you see fit. But don't beat yourself up, because it's also a legitimate business model (imo, see: capitalism).

Here's a good test: Sell it to them for $30, and in a month or so see how much it'd take to buy it back.

 

[ZapNano]

$30 No, that's dirt. Start at $500. ..

 

[carob]

why the hell are you expecting $1000 for the name you just registered?

Reply:

Because you're worth it.

 

[fatter]

being its a name of a person my usual response isn't good for this, but I Usually respond with" I like for all companies to have equal access to my traffic , on a ppc page, rather than one company owning the name and hogging all the benefits of direct sales for this keyword
Joe T

 

[Kate]

If he balks at the price because the name is too fresh:
you can tell him to come back in two years then the domain name will have aged
and maybe he will find the price more palatable lol

Right now the domain name should have a ballpark value in your eyes regardless of age. Usually the price can only increase with time because of the increasing scarcity of good domain names.
$30 simply isn't worth the time.
It's the kind of price tag you put on domains that you want to liquidate, because you no longer need/want them.

And even though you spent little time to find it, it could be a winning lottery ticket. So the argument that you 'just registered it' doesn't justify that you should hand it over for a meager profit.

 

[hxp]

So you wouldn't feel like a greedy #$# for asking $xxx+ for the name you regged just a few days ago?
When you think about it I didn't do anything that would justify 100x price tag. Just spent 10 minutes to go through expiring names list. And another 120 seconds to register it.

Google "Impostor Syndrome". I tend to struggle with it myself.

&Here's a short story that I think might help you along:

...Ford, whose electrical engineers couldn’t solve some problems they were having with a gigantic generator, called Steinmetz in to the plant. Upon arriving, Steinmetz rejected all assistance and asked only for a notebook, pencil and cot. According to Scott, Steinmetz listened to the generator and scribbled computations on the notepad for two straight days and nights. On the second night, he asked for a ladder, climbed up the generator and made a chalk mark on its side. Then he told Ford’s skeptical engineers to remove a plate at the mark and replace sixteen windings from the field coil. They did, and the generator performed to perfection.

Henry Ford was thrilled until he got an invoice from General Electric in the amount of $10,000. Ford acknowledged Steinmetz’s success but balked at the figure. He asked for an itemized bill.

Steinmetz, Scott wrote, responded personally to Ford’s request with the following:

Making chalk mark on generator: $1.

Knowing where to make the mark: $9,999.

Ford paid the bill.

(Full Story: Here)

 

[Manik]

Tell him that a "Dr Dre's Beats" Headphones costs around $10 to manufacture but they sell for 300+ minimum. It's because of the marketing. Your price is for the marketing hours you put in.

 

[bluebox]

Google "Impostor Syndrome". I tend to struggle with it myself.

Interesting.

Although in my case it's mostly the pathological fear of being disliked/criticized
"What if they are mad at me for quoting too high price"

LOL

I'm definitely not the self-confident, assertive businessman type.

 

[carob]

Interesting.

Although in my case it's mostly the pathological fear of being disliked/criticized
"What if they are mad at me for quoting too high price"

LOL

I'm definitely not the self-confident, assertive businessman type.

WTF it's just an email! Think of the numbers. And it is always easier to come down in price than it is to go up.

Let them be mad with themself for being too cheap to buy something they really want that would make them really happy.

 

[carob]

Email could be from a bot that could never see you blush.

If it helps just imagine someone else is writing your replies for you, treat it as a role.

 

[ojo]

Domaining is like mining for rubies and diamonds amidst the worthless rocks. The value of a diamond or a ruby is not determined by when you find it. If you have a precious stone, be firm and wait for for someone who can appreciate it.

 

[indiegrind]

Bluebox, domaining might not be for you. The things you are afraid to do, are essential for success.

If you didn't believe in or understand the potential value of the domain, why did you buy it?

The whole industry is based upon acquiring domains cheap that have 100x value to someone else with the understanding that you will sell a small percentage of your portfolio each year and have recurring costs.

 

[Apprich]

I'd approach friendly manner.

So, tell him that you are trying to help him..If you wouldn't catch the name somebody else would catch it.
And ask kindly the money you want.

 

[Raymond C]

$30 No, that's dirt. Start at $500. ..

don't be shy to start at $5000...and negotiate downward.....