He won't be buying other names. Business people rarely stand a chance in a UDRP dispute (see Ted Turner), so if you are ever going to get paid you need to get it here. $1,500 is basically giving it away because he cannot even think about getting it back without filing a dispute, and even though he wouldn't win the name it will cost him over $1,000 for the dispute plus attorney's fees.
I would either give it to him for free or stick up for yourself and get a good price. Tell him to buy the .net if he doesn't want it.
I appreciate your answers, but I think UDRP is the farthest thing from his mind... He let the name drop, he is an expert in this field - he runs MSN for god sake- , so I hardly think he can say it was an accident, there is no live TM, he closed his business, and let the business domain drop... now it sounds like several years later, he wants to reopen a similar business and wants his old name back.. Good links from new outlets to a domain name does not die on the web, that's partly why I bought it, I figured the links back from news articles will maintain their pagerank.
Well I sent the email for the package.. I didn't put a price - I figured let him suggest a price - the first one who throws out a price looses... Hopefully its more than what I wanted.. If not, I'll go back to my number..
Thanks again for the advise..
BTW, I've sold more names in the last 2 weeks than the last 3 years combined.... Whats up with that... I guess its time to go buying again myself. Just when I was getting frustrated that nothing was selling.
Steve