I've got a fish on the line...suggestions needed.

[gmac17]

I got an email from a lawyer at a decent sized firm in a major city asking about a domain I own for a client of theirs. It is a 2 word domain that I reg'd in 97 but have never used. Pretty good combo of words - not generic but very brandable.

first offer was $1,000, i told them i have turned down significantly higher offers (true).

lawyer responds back "we aren't going to pay a significant amount for the domain....can you give a ballpark...for example are you looking for hundreds of thousands of dollars?"

I want to play this right...his last line made me think they may have a decent budget. I know this is the age old art of negotiation, but I'd hate to show my cards first and say $40k if they would actually go to $80k (those are made up numbers).

Any thoughts would be appreciated, and lets hope he doesn't read this thread

 

[Deleted member 70408]

I believe in selling a name for what it's worth to me not who the buyer might be. If you want to PM me the name, I would be happy to give my personal appraisal.

 

[Rockefeller]

If the domain name isn't worth 40k you're going to sound like 9/10 people that I talk to. If you believe the domain name is worth 40k, then counter with 40k. If you want to make the deal you will need to reason with the buyer and negotiate a fair price for both parties.

 

[companyone]

If the domain name isn't worth 40k you're going to sound like 9/10 people that I talk to. If you believe the domain name is worth 40k, then counter with 40k. If you want to make the deal you will need to reason with the buyer and negotiate a fair price for both parties.

Well said Justin.

I've got a fish on the line...suggestions needed.

My suggestion...please do not take it the wrong way. I think you would be better off referring to a potential customer or buyer... as such. Just something you might want to think about.


Peace,
Dan

 

[Rockefeller]

Dont be "that guy." I have offered people fair market value for domain names on Sedo and they counter me with a highly inflated price, then I cancel the offer. 1-2 months later I see the domain name at auction for 1/10 of what I offered them. They must've been kicking themselves for not taking my offer.

 

[JohnnJohnn is verified member.]

If the lawyer is acting on behalf of his client then he should have a budget as the client would not give him a blank check.

The tricky thing is to find out the budget so that both parties are in line.
Give them some good reasons why the name is valuable and say you may work out a deal to let the name go if the budget is in line with your thinking range.

It's all about marketing game and the funny thing about the domain name business is no such thing is appraisal value. The price is only set when there is an agreement between the seller/buyer.

Good luck!

John

 

[VirtualT]

tell them your looking for 5 figure offers minimium, see what they come back with.

 

[JohnnJohnn is verified member.]

tell them your looking for 5 figure offers minimium, see what they come back with.

They are lawyers!

You need to find out the budget or at least budget range.
Asking a 5 figure on a NOTtooGOOD .com will just make them get in the car and run away.

 

[Raider]

I believe in selling a name for what it's worth to me not who the buyer might be.

Exactly, I say sell it for what its worth, If you have a certified appraisal for it, quote them the high appraisal value.

 

[dnalias]

Along with all the good advice above!

Are there comparables you can you use as a negotiating point?

Use this info carefully, obviously if you send them top selling domains they will get spooked. Look for comparable domains sales see if they are developed or parked, then send them a few along with your next email.

FYI: I do not own dnsaleprice.com but promote in my sig because BidNo has been very helpful to me.

 

[VirtualT]

They are lawyers!

You need to find out the budget or at least budget range.
Asking a 5 figure on a NOTtooGOOD .com will just make them get in the car and run away.

True, but asking for $1000 on IwouldHavePayed10k.com may have you kicking yourself for years

 

[gmac17]

dnalias - that link is amazing - thanks.

Thanks to everyone. The name is a decent name that is definitely worth $xx.xxx to the right end user. I just don't know if this is the right end user. They definitely aren't small fry as they are probably paying the lawyer $250 an hour to go after the name.

I gave them a number, and I'll keep you posted.

 

[hugegrowth]

Think of a price you would be content to sell at, but if they turn it down and you never heard from them again, you would have no regrets because you wouldn't sell it for less anyway.

You want to hit that sweet spot in between a price too low that you would later regret, and a price too high that makes the buyer walk and you wish you had sold at less.

 

[AlienGG]

Make sure it's not TM'ed.

 

[gmac17]

I gave them a number a day ago, and haven't heard back.

i actually think that is a good thing though as they are strategizing their next move...(or they hit the delete key).

i'll keep you posted.

 

[gmac17]

alright folks, here is how this little bit played out. It was not a name i was actively trying to sell, but it turned into my biggest sale to date.

they asked if the name was for sale and i said i get lots of offers, but that i would sell it for the right price. (i know this is what everyone says not to do...)

They offered $1,000, i said i've turned down much higher offers.

Their lawyer said: "we aren't going to pay a significant amount for the domain....can you give a ballpark...for example are you looking for hundreds of thousands of dollars?" (dumbest thing he could have said - to even mention "hundreds of thousands of dollars"...)

I responded with a low-mid $xx,xxxx number. They did not write back for about 9 days - i was getting antsy but knew that staying quiet was the best option.

They responded with 50% of that number.

I wrote back and said this is a great name, domain values are going up quickly, thanks for negotiating in good faith and I cut $5k off the name.

They said ok.

I deposited the check today.

I am definitely happy with this sale, it was a nice brandable name that only an end user would have paid this much for. The company that bought it is a big company. In all honesty I probably could have gotten 50%-100% more for the name if i started my negotiations higher. BUT, you go into these things blind and at the end of the day i still got a good price for the name.

Also - I really liked the fact that a lawyer was negotiating with me. It told me that a) it probably wasn't a domainer - which would have made me put up my guard and that b) they were serious about the name.

If it dropped or was on buydomains it might get $4 or $5k. If I put it up for appraisal i guarantee you some people would say $350.

Thanks,

gmac

 

[jasdon11]

I love a happy ending....

 

[simon]

nice ending
enjoy the domain money

 

[carlton]

This is a good illustration of how domain values (and sales) often defy simplistic formulas like paying 8x annual PPC. Most everyone is tired of experienced domainers trying to play this game on high quality generic names (including unique brandables). The value rests in a negotiated compromise between the buyer's and seller's perceptions ... which in turn are shaped by many influences.

Glad gmac17 worked his deal the proper way. Congrats.

 

[patroiz]

Congratulations on the sale