Got a bid on SEDO. Need help/advice.

[Tygerwoody]

So far I am 0-2 for actually selling domains on sedo that people have bid on. Each bidder before, offered me half my asking price so I sent to auction. Noone else bid on the auction, so the domain was theres. I was fine with this, however, they never ended up paying.



Now I'm in the same situation. I have a one word domain that I listed for $600 and someone offered me $300. I'm wondering if a person is less likely to pay for a domain if you send it auction.

Should I just take the money or should I send it to auction? I personally think the domain is worth over $1000, but right now I am in the red for the year. So that gives me more initiative to just sell.

If anyone would like to know the domain name, please PM me and I'll let you know.

Thanks for your help.

Jacob

[Anthony Ng]

My take is, if you send the said domain to auction, it could jeopardize the rapport already established with that potential buyer. More importantly, when nobody actually bids on it, he may think it's not worth even that starting price he has promised to pay. And unlike domain "investors", end-users do NOT have to care about their "reputation".

[draggar]

The most important question is - would you be happy with $300?

[Tygerwoody]

The most important question is - would you be happy with $300?

Not really. But like I said, I am in the red for the year. I want to at least always stay in the black. That's my only motivation for selling it.

[Vjizzle]

I just reviewed the meaning on Wikipedia. Nice! I would think this type of domain would be worth about $1k to a Japanese end user who wants to develop it (brandable). I really don't think you will get $600 for it at auction (and judging by your statistics, it is unlikely that you will get that price as well).

Personally, I would let it go for $300 (if you know that you aren't going to develop it at all), but that is definitely your choice. Keep in mind that it is a tough economy right now.

[Onward]

Send back $500 final offer - put the ball in his court at a reasonable price on both ends.

[Tygerwoody]

Took your advice. Sold for $300. Hopefully they'll pay this time.

Sold it much less than I wanted, but some money is better than no money.

[Vjizzle]

Good luck! Let us know how it turns out.

[biggedon]

I personally think the domain is worth over $1000, but right now I am in the red for the year. So that gives me more initiative to just sell.

Hi

i saw you already agreed to sell, but consider this in the future.

most businesses that start out, don't even expect to be profitable within the first few years.

after you've sold the domain for a price below what you feel it's worth, you no longer have the domain and the amount you sold for, still may not put you in the black.


so where does that leave you?

think long range, if you plan to be around

you had previous offers on the domain and then got another, so that should tell you that there is interest for the domain.

the ability to hold-out and/or negotiate for your asking price, will set your free.


imo...

[hugegrowth]

I liked Onward's advice, the first offer is usually never the most someone is willing to pay. You'd have a good chance of getting $100 or $200 more on a $300 offer.

But, at least you are sure to get $300 now, providing the bidder pays.

Being in the black and keeping up with renewals is a big factor to always consider.

[Tygerwoody]

The sedo curse has been lifted. The buyer sent the payment.

The way I see this business and the way I would like to go about it. Is try to get in the black, and then the left over domains, you get what you REALLY want out of them. I want to always at least pay for the cost of my domains and renewals.

While I sold this domain for much less than I wanted, at the end of the day it was still a 4200% profit . I bought the domain on a drop for $7. Turning $7 into $300 isn't a bad deal.

If I were already in the black for the year, I would have done things much differently. First off, the domain would not be up for sale for $600. It would have been up for $999 or possibly a little over $1000. Secondly, I would have asked for 75% of my asking price, rather than just 50%, which is what I sold for.

[Tygerwoody]

edit: nevermind.