eBranding.com.au
Top Contributor
All the domains that I'm looking to sell are listed on Sedo as 'make an offer', usually with a minimum offer of a few hundred dollars.
An offer came in recently through one of Sedo's partner platforms: Go Daddy.
The offer was about 35% higher than the minimum I'd set. For this domain name it was a decent offer.
I considered the offer and decided to counter-offer. I thought the strong opening offer indicated that they likely had the capacity to go higher - and I didn't want to leave money on the table.
There was no response to my counter-offer, or subsequent lower counter-offers. The last one was for the original amount they offered, but they were gone.
I could have made a decent return on my investment and put money in the bank.
By being greedy I left all of the money on the table.
Why did this happen?
I've been down this path before, it's always a fine line in trying to maximise returns and still close a deal.
While this was only a small sale, it's another lesson learned. The only failure in making mistakes is not learning from them.
An offer came in recently through one of Sedo's partner platforms: Go Daddy.
The offer was about 35% higher than the minimum I'd set. For this domain name it was a decent offer.
I considered the offer and decided to counter-offer. I thought the strong opening offer indicated that they likely had the capacity to go higher - and I didn't want to leave money on the table.
There was no response to my counter-offer, or subsequent lower counter-offers. The last one was for the original amount they offered, but they were gone.
I could have made a decent return on my investment and put money in the bank.
By being greedy I left all of the money on the table.
Why did this happen?
- Some people buy on impulse - I gave them time to reconsider.
- People are often considering a few potential names - I gave them a reason to look at other options.
- Sometimes the first offer is the final offer - some people don't want to negotiate and go back and forth, they just want to buy a domain. This is particularly true for end users. The reason their opening offer was so good, was probably because it was the most they were going pay.
I've been down this path before, it's always a fine line in trying to maximise returns and still close a deal.
While this was only a small sale, it's another lesson learned. The only failure in making mistakes is not learning from them.