4 ms·
As someone who both buys and sells domain names (and particularly 3 letter .com's since 1996) let me point a few things out. I might also mention that I am the
by larrys 13y ago
As someone who both buys and sells domain names (and particularly 3 letter .com's since 1996) let me point a few things out. I might also mention that I am the go to guy for a few well known VC's that you have heard of although that is not my main business at all (although it could be it just doesn't pay that well compared to other things I spend time on.)
This statement:
"Within a day or 2 we started getting responses. All the responses were the same and were in the format of “Sure we are willing to sell, we expect a bid in the mid to low 7 figures."
Is total BS and hyperbole. People in the business can be jerks and unreasonable for sure but it would be more likely for someone to "ask" for 100k or simply say "domain is not for sale" than to say "7 figures" (2 letter, possible, 3 letter, specifically "all of the responses", no. Unless of course you emailed the same people (they may have different email address for the same owner) and they were pulling your chain.) Exaggeration.
"When the price for a domain you like is really high, consider lease-to-buy options to give you flexibility."
I never recommend this it's normally a way to make sure you pay an exorbitant price for a domain.
"Don’t get attached to any domain name. "
Great advice. This is absolutely true.
"When you find something you like, move FAST and close it as soon as possible. Often times you might not have a second chance."
I can say that I have closed a number of sales by simply making the buyer feel that someone else wants the same name, coincidentally the same day someone else inquired! Total bullshit. Good leads are extremely infrequent. Possible but more likely you are being played with.
"Good domain names get offers many times a week. Think about how you’ll make your email stand out from the rest."
In general not true. There is no serious bidding war going on for good domain names every day. There are people for sure that email everyone and anyone with non serious offers and to people who own many names it appears to be that you are getting offers all the time. But you might get no inquires on a particular good domain name in 1 year or 5. The only way you need to stand out is to appear to be a real buyer and act like a real buyer. Unfortunately if you are sending a bunch of emails that's going to be hard to do.
"Use domainworth.com to get a rough idea of how much their domain is worth."
Totally meaningless. By the way never try to negotiate with a seller quoting any estimate value. With very few exceptions means nothing. Very few exceptions means there are always outlier cases.
"Use instantdomainsearch.com and leandomainsearch.com to help you check your desired names or come up with new ones.
Both good ideas.
- mietek 13y ago> People in the business can be jerks and unreasonable for sure but it would be more likely for someone to "ask" for 100k or simply say "domain is not for sale" than to say "7 figures" (2 letter, possible, 3 letter, specifically "all of the responses", no. FWIW, here's an email I received when enquiring about a 3-letter domain name: Thank you for your interest in this domain name This domain name is among our most prized and sought-after domains. It is the online equivalent of prime, downtown real estate, and we get purchase inquiries about this domain every week. Based on what comparable domain names are selling for, this domain name commands a premium price tag in the five-figure and higher price range. This may come as a surprise to you since not everyone is aware that domain names of this quality regularly sell in this price range (and higher). Please visit the Domain Name Journal website below to see a current summary of recently sold domains and their selling prices: (omitted) After you’ve viewed the Domain Name Journal Sales Chart (above) and seen the current selling prices, we’d be delighted to discuss your interest in purchasing this domain name from us. Also, to avoid giving you ‘sticker shock’, we want to make sure your domain acquisition budget will support this domain’s five-figure and higher price range. We’re always respectful of our customers’ time and try very hard not to waste it with negotiations that can never get off the ground. If your budget will support the five-figure and higher price range, please reply with a serious offer to begin the negotiation process with us. Any offer of less than five-figures won’t be taken seriously by us, and due to the volume of email we receive, will not be replied to at all. Thank you.
- radiusq 13y agoYeah thats bs salesman talk just to get the conversation started. Doesn't take a genius to talk around that.
- underwater 13y agoAre you sure you talked to a person and not a robot? I'm sure that each and every domain you ask about is one of their "prized and sought-after" domains. The "five-figure and higher" line (repeated four times!) is pretty funny. I'm not sure of any other market where price estimates span multiple orders of magnitude. It is just a transparent way to get you to name a figure first.