Good idea to take a domain name to auction or not if had a bid?

[Azam.netAzam.net is verified member.]

We've had a bid for €300 on a domain name (tariffs.eu). Would it be smarter to try to try to get a higher price from whoever has made the offer or to take it to auction please?

Thought about it for quite a bit but not sure what the best strategy is.

Thank you in advance for the advice.

 

[domainah]

take it to auction, at least this way you make sure you get the best possible reseller price or even a little more..that is unless you really think the buyer would pay 5k or something, if so, ask for that and take the risk you might get nothing

 

[Azam.netAzam.net is verified member.]

Thank you for the advice. I have done some research and taken your advice on board and taken it to auction.

One thing I would advise people in future is to take it to auction as soon as possible; I have just discovered my auction will only run for two days because it only runs to the end of the 7 day period since the bid by the first interested party. So if I had taken it to auction as soon as I had had the first bid, the auction would have ran for 7 days instead of a mere 2.