Need help - got an inquiry

[Jack Gordon]

I have a domain for a friend's art collection (xxxxxgallery.com - the x's are his last name). About three years ago we started to develop a site around it and got a bit into it but not very far. It has been sitting in that state ever since.

About a month ago I got an inquiry from someone developing a new site called xxxxxframeandgallery.com - they are located in a much bigger city. He asked about our intentions for the domain, and I told him that the owner intends to continue development on the site when he has time, which is true. They were concerned about customer confusion. I also told him that I would pass along his concerns and if he wanted to make an offer, that I would be happy to pass that along as well.

My friend was amused at their interest, but nothing came of it.

This person just wrote me back to tell me that their site will be launched shortly and they are interested in purchasing the domain. He wanted to know if we would be willing to sell.

My friend is not inclined to sell, but I think he would if the price was right. How on earth do I go about assigning a value to this name?

 

[namedropper]

Just explain to the buyer what you explained to us and let them make an offer. Once the first number comes in you can find out if it's a serious attempt to buy and whether your friend is seriously interested in selling.