Adjustable Minimum Initial Offer

[Chris.C]

So today I received the standard, "Your domain name XXXXXX.com.au has received a new offer" email and like 80% of first offer emails it was for $100...

Which of course means I'm going to counter offer...

What I think would be great, is if we could set a minimum first offer on our catalogue listed domains. Whereby I might set the minimum on all my domains to $200 so that if someone tries to offer $100 it just comes up with an error saying the minimum is $200, at which point if they aren't interested in offering $200 they don't make a second offer and no one's time is wasted.

My logic being I think a lot of people are willing to pay $100 because that's a reasonable price for a domain give that it costs $140 register a domain at MelbourneIT...



Yet I'd say at least 50% of people that place an offer of $100 aren't willing to go to $200, in which case I don't really want to waste my time putting in a counter offer and waiting for a response.

What's everyone think?

 

[findtim]

sounds like a good idea, and also for more valuable domains you don't get tyre kickers.

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A wedding photographer i know has a contact form on his website with a drop down list thats title is " whats you wedding photography budget" ?

when you go to the drop list it STARTS at $7000 and goes up from there, this would stop a LOT of people right there.

tim

 

[Mark]

Once upon a time we did have this functionality, however found people were putting in wild minimum offers which make a mockery of a listing to be honest.

Possibly we can re-introduce, but with a low range.

I would be more keen on setting an auto responder, that rejects an offer if below a set minimum, whilst still recording the offer and activity on the listing.

What do you think?

 

[findtim]

a think ned has a thread on this, its about at least getting that LEAD and then working on it, so an autoresponder may not be an option but if you did go down that path i'd suggest it is a choice to use or not

tim

 

[Chris.C]

Once upon a time we did have this functionality, however found people were putting in wild minimum offers which make a mockery of a listing to be honest.

Yeah I guess that's somewhat inevitable - though you'd have to think that with volume of sales data that is out there there days people would be getting better at appropriately valuing domains...

Possibly we can re-introduce, but with a low range.

Yeah if you potential capped the amount that people could set as their minimum acceptable initial offer to something still in the $XXX range you'd be able to above the whole "looking bad" issue.

I would be more keen on setting an auto responder, that rejects an offer if below a set minimum, whilst still recording the offer and activity on the listing. What do you think?

Yeah there definitely could be merit to that.

So are you suggesting something where by they submit their $100 bid, which is recorded, but they are automatically directed to a page that says the owner of the domain isn't willing to negotiate with anyone who isn't willing to offer $XXX as an initial offer, and then on that same page have some form that allows them to submit a higher offer in which case that offer supersedes their original $100 offer, and if they don't submit something higher then their original $100 offer stands for 7 days?

Though, I still wouldn't want to receive an email unless I received an initial offer of at $200.

Of course if we were able to communicate with the buyers, this would be a completely different story. I'd be willing to communicate with anyone who showed interest in a domain. However under the present NF negotiation system if they aren't willing to place an initial offer of $200 there is no point negotiating with them.

 

[Blue Wren]

I might set the minimum on all my domains to $200 so that if someone tries to offer $100 it just comes up with an error saying the minimum is $200, at which point if they aren't interested in offering $200 they don't make a second offer and no one's time is wasted.

I wouldn't have it reveal a minimum/reserve price in dollars. I'd have it plainly say 'reserve not met' or similar.

My logic is that you'd have more chance of bidders continuing to reach the minimum/reserve, instead of them seeing the reserve and having a reaction at the dollar value which may sway them to just bounce off (click away).

 

[Data Glasses]

Buy now options are becoming the most popular because people are quite often impatient and not willing to go through long negotiations to get a name. I like the idea of people knowing what you want for your name or at worst are willing to accept as a minimum offer

 

[FirstPageResults]

Yet I'd say at least 50% of people that place an offer of $100 aren't willing to go to $200, in which case I don't really want to waste my time putting in a counter offer and waiting for a response.

What's everyone think?

Then don't. At least the next person won't be able to offer 100

What annoys me more is when the next bid is $120 and then $140..

 

[DavidL]

I'm happy to get an offer on any domain. Even a $100 offer on a $XX,XXX domain gets it started and, due to the quality index will get my domain more exposure moving forward.

I don't have anything to do with NF anymore but I did when we removed the minimum offer function and I know activity tripled overnight and actual sales jumped up too.

Of course if we were able to communicate with the buyers, this would be a completely different story. I'd be willing to communicate with anyone who showed interest in a domain. However under the present NF negotiation system if they aren't willing to place an initial offer of $200 there is no point negotiating with them.

I like this - I wouldn't want 'potential buyers' who aren't even prepared to pay $100 contacting me first. Show me your commitment by making an offer before you ask questions!

 

[Mark]

I just crunched the numbers from when we switched from allowing a minimum offer price to be set and when we set all to $100, and David's right - there was a significant uptake in offers, counter offers, activity and ultimately sales.

For that reason alone, it really doesn't make sense to go backwards again, so we'll leave as is.

 

[Chris.C]

If that is what the data says then I retract my suggestion.



I'm definitely a man that's puts higher weight in numbers than opinions - even when they are counter to my own.

 

[findtim]

Buy now options are becoming the most popular because people are quite often impatient and not willing to go through long negotiations to get a name. I like the idea of people knowing what you want for your name or at worst are willing to accept as a minimum offer

+1

There are 2 things here , auction and pure sales, just like real estate, in the aftermarket a buy now price is a good idea when/if you are happy to not have it sell

Tim