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An asking offer without a bid is just that - an offer. I can ask $1M for that red apple sitting on my desk. It's completely irrelevant. PS. This behavior is qu
by H8crilA 6y ago
An asking offer without a bid is just that - an offer. I can ask $1M for that red apple sitting on my desk. It's completely irrelevant.
PS. This behavior is quite prominent in real estate prices, they're so slow to fall down. For example the US real estate market bottomed only in 2011. You have to be very patient if you want to buy the dip in such "I will only sell for the right price!!" markets.
- CydeWeys 6y agoReal estate isn't a great example because the carrying costs of unsold property in the form of upkeep, property taxes, mortgage, insurance, etc., are non-trivial. In general it's not remotely reasonable to hold onto property for 20 years without selling it. By contrast, the holding cost on a domain name is effectively zero, so there's much less pressure to get rid of one quickly. Plus, seeing as how the prices have only continued climbing over time, people who held out earlier and then got a good deal more recently don't regret it. If I had a good portfolio of potential $1M+ domain names I too would hold onto them and wait for the right buyer to come along. I'm in no desperate need of money right now.
- H8crilA 6y agoAnd yet people do it in real estate.