What to do with overbids?

[croupier]

Here's the situation:

You've got a domain and would consider bids of $1k+ and would definitly sell for $2k+ then someone comes along and offers $5k

Assuming you're not desperate for money do you snap their hands off or try a higher counter offer?

 

[Digital Address]

Jump on it!

 

[David G]

Here's the situation: You've got a domain and would consider bids of $1k+ and would definitly sell for $2k+ then someone comes along and offers $5k. Assuming you're not desperate for money do you snap their hands off or try a higher counter offer?

Is this a joke?

 

[croupier]

It's not a joke.

It actualy happened to me recently and I have no experiance with bartering and counter offers etc. so I wanted to get views from more experianced guys.

Of course, my first thought was to take the money and run - but maybe some shrewd domainers would have tried for more.

 

[David G]

It's not a joke. It actualy happened to me recently and I have no experiance with bartering and counter offers etc. so I wanted to get views from more experianced guys. Of course, my first thought was to take the money and run - but maybe some shrewd domainers would have tried for more.

Oh, I now see what you mean. Was thinking you were evaluating the morality of taking so much more than you would have accepted.

Yes, of course you should try for more if they are starting so high. Perhaps they would go to $10,000 or so as double the initial offer is not too much to ask for in most cases.

Try to find out if they are a good size company and why they want the name. If it is for a product or a division of the firm they would likely go higher. Good luck.

 

[Steen]

Find out who they are if you can (sometimes they hide, so it's hard/impossible). It depends how much you want that $5k to begin with.

 

[Jack Gordon]

A bird in the hand beats two in the bush

I would call it one hell of a successful day and be happy with it.

 

[Steen]

A bird in the hand beats two in the bush

I would call it one hell of a successful day and be happy with it.

Some people are greedy :charming:

 

[David G]

A bird in the hand beats two in the bush. I would call it one hell of a successful day and be happy with it.

True, but as long as he feels they will still pay the original offer of $5,000 it is worth a try, IMO. But if he feels it was already a top offer then take it.

He could reply saying he feels the name is worth say $10,000 without actually saying no to the $5,000, then they may say OK to a better price or may say $5,000 is the most they pay, and then he say's OK to that.

 

[skylight]

if you already dont mind accepting $2k and there is a $5k offer, verify that it is true offer. Take it. You can invest in more stuff rather than counter offer and risk.

 

[Digital Address]

A lot of the offers that I have received over the last few months were "first and final." I really don't know why!?

 

[worldengine]

Rule of thumb is to never accept the first offer. I usually try to stick with this, even in situations like the one you have.

 

[ParkQuick.com]

I also would jump on it. You've already made much more profit than you expected to. I've heard the "never accept the first offer" rule - but I've also had people who never emailed me back after I made a counter-offer. $5000 in hand is worth more than $7,500 that you thought you might have been able to get...