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Is it common for seller to pay domain appraisal?
blueheelers

5+ Year Member



 
Msg#: 3310864 posted 2:10 am on Apr 14, 2007 (gmt 0)

I have someone who contacted me through my WhoIs information regarding a domain that I recently registered. It is a great name and I was surprised it hadn't been registered.

Anyway, I told him my asking price and he replied saying that was fine but he would like an appraisal so that he would know that he was paying a fair price. I replied saying that most appraisals are useless and that a domain is worth only what someone was willing to pay for it. He was welcome to get his appraisal and use that to determine an offer.

His reply was that he would be willing to pay me 10% under what the domain would appraise for via a legitimate, human-based service such as Godaddy or Sedo. The catch is he wants me to pay the appraisal which could easily be $60+ and says this is common practice for the buyer to pay the appraisal.

Has anyone heard of this situation? Any suggestions?

 

leadegroot

WebmasterWorld Senior Member 10+ Year Member



 
Msg#: 3310864 posted 2:49 am on Apr 14, 2007 (gmt 0)

I don't have information on common practices, but *he* approached *you* for the sale, and he expects you to pay for things?
Just say 'No' and move on.

Webwork

WebmasterWorld Administrator webwork us a WebmasterWorld Top Contributor of All Time 10+ Year Member



 
Msg#: 3310864 posted 2:49 am on Apr 14, 2007 (gmt 0)

Have you talked to the buyer on a land line? Does the buyer have a brick and mortar business address? Does the prospective buyer have any history of making similar deals?

The more reality you can lend to a prospective offer the more like it is real.

Still, I'd never go for a deal along these lines. I'd name my price and live with the consequences.

stu2

5+ Year Member



 
Msg#: 3310864 posted 10:01 am on Apr 14, 2007 (gmt 0)

Most of these appraisal demands on inquiring to purchase a domain are scams. Just tell him to get his own appraisal and you will knock the cost of the appraisal off your selling price. Of course you'll only accept human appraisals from a reputable company, not sone tin-pot appraisal service he wishes to use.

blueheelers

5+ Year Member



 
Msg#: 3310864 posted 2:12 pm on Apr 14, 2007 (gmt 0)


Have you talked to the buyer on a land line? Does the buyer have a brick and mortar business address? Does the prospective buyer have any history of making similar deals?

I haven't talked to him, doubtful on brick-and-mortar business but I don't have one either, and it appears he has a history but that can be faked.

I think the suggestion of applying the appraisal towards the selling price may work best. I just registered the domain so am not in too much of a hurry to sell it to the first buyer.

jimbeetle

WebmasterWorld Senior Member jimbeetle us a WebmasterWorld Top Contributor of All Time 10+ Year Member



 
Msg#: 3310864 posted 2:36 pm on Apr 14, 2007 (gmt 0)

You've already had an appraisal for the name -- you've stated what it's worth to you. If the buyer can't make up their own mind on what it's worth to them, hey, that's their problem, no reason at all for you to have to shave your price.

vik_c

10+ Year Member



 
Msg#: 3310864 posted 7:55 pm on Apr 14, 2007 (gmt 0)

As stu2 says, most such offers that require appraisals are scams. Typically they will insist on a particular appraisal service which is owned by them, behind the scenes to make the $50-$100 and you'll never hear from the 'prospective buyer' again.

Webwork

WebmasterWorld Administrator webwork us a WebmasterWorld Top Contributor of All Time 10+ Year Member



 
Msg#: 3310864 posted 12:04 am on Apr 15, 2007 (gmt 0)

Godaddy or Sedo

Unless GD or Sedo are offering bounties for anyone bringing in an appraisal I wouldn't say this fits the standard scam model. The standard scam requires the use of a specific no-name appraisal service.

Dinkar

10+ Year Member



 
Msg#: 3310864 posted 1:48 am on Apr 15, 2007 (gmt 0)

Don't pay the appraisal fees. Tell him to cut the fees from the final price of the domain.

It's a scam for sure. If you want to test then offer him some other domains at some ridiculously high prices. And if he is a scam, he will say OK to that price but ask you to pay appraisal fees.

What's his name? Machomann?

stu2

5+ Year Member



 
Msg#: 3310864 posted 3:03 am on Apr 15, 2007 (gmt 0)

Unless GD or Sedo are offering bounties for anyone bringing in an appraisal I wouldn't say this fits the standard scam model. The standard scam requires the use of a specific no-name appraisal service.

It's a bait 'n switch tactic. They won't actually use them, but suggest something similar to them.

newborn

5+ Year Member



 
Msg#: 3310864 posted 3:13 am on Apr 15, 2007 (gmt 0)

I got the same thing from some quack.... dont buy anything robber!

MamaDawg

10+ Year Member



 
Msg#: 3310864 posted 1:51 pm on Apr 15, 2007 (gmt 0)

Here are some common earmarks of the ever-popular domain appraisal scams:

- Someplace in the text of the letter the scammer makes a point of saying that they just do this as a hobby or side-business and that they aren't a professional domainer.

- Signature claims to be a VP, PHD, Dr. or something similar.

- If you examine the full headers, you'll see the message actually originates from a dial-up account, not the URL of company they claim to be from. Ones I've seen are .ru and .no providers (despite the email text sometimes showing a US company address), but I'm sure there are other points of origin.

- The Company URL they give often resolves to a parked page.

- Google the company or user name given - if its a scam chances are its already been posted on one of the domain forums.

If none of these apply in your case, it MAY be legit, but as Dinkar suggested, tell them to get their own appraisal if they want one and offer to subtract the appraisal fee from the purchase price.

[edited by: MamaDawg at 1:58 pm (utc) on April 15, 2007]

blueheelers

5+ Year Member



 
Msg#: 3310864 posted 2:39 pm on Apr 16, 2007 (gmt 0)


Here are some common earmarks of the ever-popular domain appraisal scams:

- Someplace in the text of the letter the scammer makes a point of saying that they just do this as a hobby or side-business and that they aren't a professional domainer.


Check!


- Signature claims to be a VP, PHD, Dr. or something similar.

Check!


- If you examine the full headers, you'll see the message actually originates from a dial-up account, not the URL of company they claim to be from. Ones I've seen are .ru and .no providers (despite the email text sometimes showing a US company address), but I'm sure there are other points of origin.

Check! - Domain is registered in .no but IP headers from .ru. No address listed


- The Company URL they give often resolves to a parked page.

Check!


- Google the company or user name given - if its a scam chances are its already been posted on one of the domain forums.

Check!

My hunch was right in that it was fishy, but I'm always skeptical to turn away business. It never costs anything to let someone make an offer (unless they want an appraisal!) and escrow protects the seller, so I thought I would at least hear them out.

<snip> <Thanks for understanding the edit might be coming. ;0) >

[edited by: Webwork at 2:57 pm (utc) on April 16, 2007]
[edit reason] Charter [webmasterworld.com] [/edit]

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