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$1,620 the magic number

Discussion in 'General Domain Discussion' started by DavidL, Mar 15, 2013.

  1. DavidL

    DavidL Membership: VIP

    Jun 18, 2008
    Likes Received:
    auDA Member:
    A little while ago in this post, I was talking about having a good Feb and selling a decent bunch of domains for $X,XXX each.

    Funnily enough, three of them all sold for their target price of $1,620.

    Then on Wednesday, I sold another rcu.com.au for $1,620 too (target price met)

    Then I just noticed someone else has just sold a domain today on NF for $1,620 too - dhb.com.au!!

    So, I can't explain it but just seems to be a sweet spot for some reason especially for LLL.com.au's! You might want to have a look at your target prices ;)
  2. djuqa

    djuqa Membership: Trader

    Dec 20, 2009
    Likes Received:
    Congrats on the sales at that "Magic" price
    Trouble is most names being offered only worth $16.20 but listed for much more.
  3. Chris.C

    Chris.C Membership: VIP

    Sep 23, 2010
    Likes Received:
    Maybe $1620 has something to do with the psychology of not having a round figure.

    I have read somewhere that when it comes to pricing when someone sees something listed as $1500 they are FAR more likely to think that they can negotiate for a discount than if the price is a more specific number...


    Some speculated that this is because when people see a round number they think "the seller probably bought it for $1000 and are trying to retail it for $1500" and therefore think maybe I'll try and get a discount.

    Where as if they see a number like $1560 they think that this number has been more precisely determine and has a lower profit margin involved.

    Apparently this also affects the WAY people negotiate in that if someone sees $1500 they start thinking in "hundreds of dollars" and will try and get "a couple hundred off" where as if they see more specific numbers they are are more likely to think of "tens" and might try to get themselves 50 dollars off...

    1 person likes this.
  4. GGroup

    GGroup Membership: Community

    Apr 14, 2011
    Likes Received:
    Ha. I saw this one and thought it must have been you. Gold.