How do you respond to a 10k offer ?

[Creature]

I have received a 10k offer today.

This is a money related .com domain. Two comparable and very similar names have sold recently for between 55 and 75k.

Therefore how do I respond to this offer. I don't want to upset the buyer but I don't want to sell below the market value. Also I understand that I should not state a figure in my reply.

Please advise.

Creature

 

[007]

What is the domain? Or, if you don't want to post it publicly, how comparable were the other two domains?

I think $10k seems like a standard starter number. Nice and even. Should probably get more than that though. $10k isn't much at all for a good money domain name.

 

[Creature]

Is there a correct way to respond without risking a reverse hijack? (the other 2 names were both very similar to mine)

 

[simon]

tell them that other companies were also interested in your name and they even had made offers in the range of 20K.

 

[Ian]

Maybe you should counter offer with a higher figure of say $20k but i wouldn't encourage you to mention other domains to them for price comparison.

 

[Raider]

Without knowing what the domain is actually worth, it's difficult to advise you. What I would do is purchase a reputable appraisal and reply to the offer with that, if the high is in that range, then take it, if it comes in much higher, ask for the high or near high figure, dont feel rushed and dont reply to quickly, I think we all under sold domains, it lingers a long time after you find out.

 

[Creature]

Thanks for your advice.

I think I am looking for a definite 'rule book' full of what to do and what not to do when responding to domain offers. A set of rules that would help an amateur like me safely achieve the highest market value.

If someone could write that book please.

 

[mjnels]

that book is you saying this:


"i think ill hold onto the domain, if i decide to sell ill get in touch with you"



then buyer either makes higher offer because he's really interested

OR

buyer says ok contact me whenever because he is just making a casual offer or trying to act like he dont care

OR

buyer says no thanks its now or never take it or leave it..



you will get one of those responses.. read between the lines

 

[Creature]

that book is you saying this:


"i think ill hold onto the domain, if i decide to sell ill get in touch with you"

If the buyer says 'ok contact me if you decide to sell', then you have the humiliating task of returning to beg for a sale.

I think the counter offer is my best option if it is safe and 'icann legal' to counter offer on a domain name. I don't know for certain.

 

[mjnels]

not humiliating.. its how it works if you dont have a specific price in mind.. makes it seem like you *know* its a good domain too.. and that you simply didnt want to move forward with their offer of 10k..

in reality, if they were going to accept a counter offer for a higher price, they will accept you going back and saying "ok ill sell it for 10k now"


but follow me here, if you make a counter offer and they say NO thats too high.. and you make a 2nd counter and they say nope still too high.. then it kinda does makes it seem like you were desperately seeking to get some extra cash from them, and *when and if* you do go back and say ok 10k is alright now, that seems more desperate to the buyer than the "ill hold onto it for now" response

before when you said "i think ill hold onto it" simply implies you are not interested in their 10k offer at this time and also makes it seem like you arnt interested in making a counter offer.. a lot of the time buyers will make higher offers when they get a neutral response from the seller, if they are truly interested.

 

[mjnels]

also, begging for a sale is never necessary.. if you have to do that then they wernt going to send you the money anyway..

why would someone offer cash they dont have?? i dont know but it happens all the time to me.. people will make inquires for wholesale laptops from me and get the response which is the price they were asking for.. then i never hear from em again..

 

[Creature]

The figure in mind is 30 for a quick sale.

 

[mjnels]

just scare em and say 30k then.. problem with that if your really thinking about accepting 10k (assuming 10k is your highest offer) is if they tell you no to 30k and that the most theyll spend is 11k, and you jump back down to 12k counter offer.. they are more likely to then question the value the sale..

 

[Creature]

just scare em and say 30k then.. problem with that if your really thinking about accepting 10k (assuming 10k is your highest offer) is if they tell you no to 30k and that the most theyll spend is 11k, and you jump back down to 12k counter offer.. they are more likely to then question the value the sale..

I believe 30k would be a good buy to be honest. I'll put that offer on the table and see how it goes...............

 

[Irish31]

I don't get all of this positioning with deals.


In my opinion, just cut to the chase in this situation. Tell them the range you will accept. If you would ideally want 30k for the domain, I would respond with:


"Thanks for the offer, however i'm ideally looking for around 30k for this domain, although I will certainly entertain a lower figure. If the price gap is too big between us, i'm sure there will be another domain for you out there, and another buyer for me.


Kind Regards


Creature"


Something like that. I don't agree with all of the trickery and pyschological mind games with dealings with domains. Sometimes, yes, its needed but when you are taking about 30-20k, no one is dropping that kind of cash without being seriously interested in the domain.


You'll figure it out. When in doubt, I play hardball, unless it's a so-so domain in which i'm concerned I will not get another good offer for awhile.

This domain doesn't seem to have that problem. You are in the drivers seat until you decide to get out of it.


Good luck with the sale.


Jay

 

[Creature]

^ That sounds excellent imo.

 

[simon]

anyupdate on this Jon?

 

[Creature]

I counter offered before reading Irish31 thread. I suggested 25k. So just hoping that I haven't just thrown 10k away. Waiting for response from buyer.

 

[Irish31]

I wouldn't worry Creature, there rarely is a concrete right or wrong way to handle a situation like this, unless you have information regarding the interested party ahead of time.


Do let us know though.


Jay

 

[March2005]

Just curious, did you register the name yourself, and in what year?