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How much should I ask...
I received a call tonight asking me to sell...
dineen




msg:681142
 1:43 am on May 27, 2005 (gmt 0)

A few years ago I bought a domain name. It seems that a very large corporation (recently formed) in Australia has the same name. I just received a message on my cell phone asking me if I would sell it to them. They are a $20 mil a year company, by my very short research tonight, and I've NO clue what to ask! Do I ask them what they want to pay? How do I know I'm getting the most I could get?

ANY help appreciated!

 

dineen




msg:681143
 2:28 am on May 27, 2005 (gmt 0)

OK, I got an email a few minutes ago asking me if I would just give it to them. I don't want to do that - I did have plans for this site. Granted, they've been put off by a hospital stay...in any case, what could it possibly be worth? What they are willing to pay, is my guess. Either way, I don't want to give them a price first....

Lex_Luther




msg:681144
 3:23 am on May 27, 2005 (gmt 0)

tell them to make you an offer.

benevolent001




msg:681145
 3:30 am on May 27, 2005 (gmt 0)

Hello
Its better to ask them to make a offer and then make you plans.

Dont keep this in our mind that you want to develop this website onto your own.Sometime such deals change the way we live.

Just ask them for how much they wana pay and then decide.

Hope this helps

thinkaholic




msg:681146
 3:36 am on May 27, 2005 (gmt 0)

Honestly, you probably won't get much. A dispute at ICANN is only $800 and if it is their trademarked name and you are not doing anything with it, they have a better chance of getting it.

I would ask yourself what it's worth to you. Also, what you think they'll pay without question.

I agree that they should make the offer, but it will probably be lower that you want it to be.

Good luck!

AbsintheSyringe




msg:681147
 3:55 am on May 27, 2005 (gmt 0)

Of course they'll try to get it from you for free, ridiclious. Well since
They are a $20 mil a year company
ask to pay you at least 250$ you could bargain with them etc...

But if you're really not using it, and dont care about it just sell it 100$ and I think they'll give it to you without any question.

However I dont know which offer are you really thinking about. But I guess you could get even up to 1000+ from them, just dont set it up to high. If it's too high and they threaten you to take you to the court, still deny them, low the price a bit and finish up.

If they call you again, complaining how the price is too high and that they'll really take you to the court this time just accept their offer, cuz this time they will take you to the court.

IF you really care about this domain, then just offer them your price, not reasonable take it to the court.

cyberair




msg:681148
 4:52 am on May 27, 2005 (gmt 0)

I wouldn't set those prices of $100 or $250 so early. Go with asking them to make an offer. It wouldn't surprise me if they went for a few grand.

Just last week, it was reported at the DN Journal, that a company paid $8900 for the .com of their initials which was 5 letters.

ukwebmaster




msg:681149
 11:28 am on May 27, 2005 (gmt 0)

Providing you're not trademark infringing (which seems unlikely if they are recently formed and you have held the domain for a while), then always get them to make you an offer.

If they don't have a decent domain name for their company, then they could be willing to pay big bucks.

One of our companies turns over 3m per year. We missed out on a domain and made the guy that owned it an offer of 10,000. He countered with 20,000, we settled for 15,000. He was very pleased because 15,000 was a lot of money to him...but we would have paid him up to 100,000...as the name was crucial to our company.

dineen




msg:681150
 1:25 pm on May 27, 2005 (gmt 0)

Thanks for all the advice! I'll ask them to make me an offer and see what they say. I did purchase this domain name about 4 years ago. They formed their corp. about 1 year ago. Their 2nd email to me was that they would pay the registration fee, since I don't really need the domain name. I explained that I did have plans for it, but a plans have been on hold due to a very very bad accident I had. I have files and files full of comps and copy on my computer.

I'll tell them today to make me an offer - lets see what they say!

Thanks!
Dineen

Rodney




msg:681151
 6:26 pm on May 27, 2005 (gmt 0)

Sounds like you did the right thing.

Especially since you have legitmate reasons for not using the domain right away AND they formed their corp name years AFTER you bought the name.

activeco




msg:681152
 2:28 pm on May 28, 2005 (gmt 0)

In any case put some content which could be related to domain name in a generic way.
Don't use TM names on it, which could be connected to the domain name itself.

otc_cmnn




msg:681153
 6:22 pm on Jun 1, 2005 (gmt 0)

They probably already own the www.CompanyName.com.au but know that as woon as they promote it many vistors will just type in CompanyName.com

Has traffic to this domain increased recently? The longer they do this and the more the traffic to your site increases, they more the domain is worth. We have a generic sports domain that got a few hundred visitors a day. Then a cell phone company named themselves this, now the site gets 8000 unique vistors a day!

I'd either take a quick 2k now or hold out for 10k.
Get some content up quickly incase there is an ICANN dispute which you should win because you have had the domain longer than the company has existed.

rsequin




msg:681154
 2:56 am on Jun 2, 2005 (gmt 0)

Don't be a sap!

Something stinks here:

"Hi, we're a $20,000,000 company and we'd like to buy your domain for $8"

PLEASE.

1. They are stupid for telling you they are that big unless they are trying to force you to give up the name.

2. They will pay you $2000 easy because that's what it would cost them just to file WIPO.

3. Sounds like they are trying to reverse hijack the domain and your price just doubled. Screw them and make them pay...and they will pay.

Maybe not the Joe Shmo making the first call but they will pay. Try to deal with the boss, the decision maker. If you want $20,000 and Joe Shmo is some low level marketing guy, he can't agree to that price.

Tell them you'll sell but not cheap. Make sure you go through escrow com.

dineen




msg:681155
 1:45 pm on Jun 2, 2005 (gmt 0)

After they asked me to give it to them for free, they followed up with an email a few days ago to pay me the registration fee. (HA!) Right now the domain points to another existing site of mine, but I do have files of copy and comps for this domain name. i guess I'll start using it and tell them to make me a reasonable offer - not the registration fee. I've had this domain for years and the proof that I am/was goign to use it. btw, they are currently .com.au with the same domain...

Thanks,
D

dineen




msg:681156
 1:48 pm on Jun 2, 2005 (gmt 0)

OK, latest communication is that they are willing to pay a few hundred, but if it's a few thousand, they have limited resources because they are "just a start-up". I think it's time for me to do some more research and see how truthful they are being.

walkman




msg:681157
 1:50 pm on Jun 2, 2005 (gmt 0)

> Their 2nd email to me was that they would pay the registration fee

how sweet. The entire $7-$8? ;) I woudl ask double what you were planning just because of the insult.

zulufox




msg:681158
 1:59 pm on Jun 2, 2005 (gmt 0)

lol.. looks like they were hoping to slip a fast one on you.

Honestly, if they are a 20mil companies you can get big bucks from them. I would say up to $50,000.

Think about it from their perspective.. when they say "I work for Widgetworks" people will automatically go to "widgetworks.com" (which you own). They know this, you know this, so aim high!

Keep us informed!

Freedom




msg:681159
 2:08 pm on Jun 2, 2005 (gmt 0)

Just tell them you'll think about it and don't say anything for a long time. Make them sweat it out. Build their anticipation by keeping quiet. Don't get it into a dialogue with them until they get more desperate for it.

walkman




msg:681160
 2:12 pm on Jun 2, 2005 (gmt 0)

I'm selling a name, which I registered many years ago. It's a generic two word but it's very good and I get offers. I used to get so many $500 or less offers, I put the note saying that if you make a ridiculous offer, even if you offer 20 times more after, it will not be accepted. I just block their e-mail now...

maximillianos




msg:681161
 12:09 am on Jun 3, 2005 (gmt 0)

How come everyone buying a domain is either:

a) a broke startup
b) doing it for their sick mom
c) doing it for a charity

I think the buyers need to be a bit more creative...;-)

Everyone wants something for nothing.

gamb




msg:681162
 1:27 pm on Jun 3, 2005 (gmt 0)

Aren't you glad you didn't sell it for $100?

You are probably fine trademark wise. If they are suddenly this hot about it, they are definitely willing to pay thousands for the name. Do some more research into the company...how are they a $20million company but still call themselves a startup?

Most importantly, take your time on this one, you have the advantage here....

good luck.

zulufox




msg:681163
 2:29 pm on Jun 3, 2005 (gmt 0)

20 million but only have a few hundred for their identity?!?! Looks like someone is lying...

Alternative Future




msg:681164
 2:31 pm on Jun 3, 2005 (gmt 0)

Do a deal for some shares of the company. Then that way they do not have to fork out any cash and you are taking a gamble but chances are you will be doing just fine with the share option.

Freedom




msg:681165
 3:35 pm on Jun 3, 2005 (gmt 0)

Keep us posted, I'd like to know how this tightwad company worth 20 million plays this out.

"Everyone wants something for nothing"

That is so true and is what is most wrong with the world today.

Freedom




msg:681166
 3:43 pm on Jun 6, 2005 (gmt 0)

Bump

Any news dineen? Can you tell us what happened or is top secret?

:-)

dineen




msg:681167
 9:22 pm on Jun 7, 2005 (gmt 0)

No more news yet. I have to reply to him though, his last email was that he hopes I'm only looking for a few hundred, not a few thousand, cuz they are a 'start-up'. I've been traveling, but I'm back now. He's asking me why I haven't replied to him. I'm going to tell him to make me an offer and not a rediculous one, as suggested! Let the games begin! haha!

dineen




msg:681168
 9:25 pm on Jun 7, 2005 (gmt 0)

Oh, and here is something I found in my research that's a good indication of how much they are worth / can afford:

(this is in regards to yet another takeover by this company!)

" .... said chief executive x, who estimates future revenues for the company will hit $20 million per annum next year as a result of the #*$! takeover.
(10/2004)

ps - I've read that this company has taken over about 4-5 other LARGE companies so far....I'm finding a lot of information about them!

kevinpate




msg:681169
 9:37 pm on Jun 7, 2005 (gmt 0)

>his last email was that he hopes I'm only looking for a few hundred, not a few thousand,

You might even decide to be somewhat straight forward as to calling nonsense on their "start-up" status and simply include a link to the article you noted above.

That would save you some time and move them past their pretense. Seems fairly clear they hope you don't have a clue who is contacting you. The absolute silliness of offering registration costs, then writing they hope you're thinking a hundred or two and not more is, or ought to be, rather insulting.

They have a business desire, you have a commodity that you're not required to part with, at any price, and that you can apparently demonstrate a preexisting good faith plan for, as opposed to being labeled an opportunistic name squatter.

No need or you to set the price at this time at all. You'll just as likely set it too low as you would too high, or else they wouldn't be playing the game they've played to date, plain old fashioned low ball.

Good luck whatever your decision.

Freedom




msg:681170
 9:44 pm on Jun 7, 2005 (gmt 0)

I say make them sweat and don't be eager to contact them. They want it bad, from what I can tell. They'll come to you, again and again, I wouldn't make a counter offer, just tell him you don't like his first offer. If they tell you they're going to walk away, don't panic. It's a ruse. Stay calm. If he get's to be smart a*&, put up a for sale sign on the domain offering to sell it to anyone. Or tell him you are thinking of putting it up on Ebay. He'll sweat bullets if he thinks there is a chance someone else can swoop in and buy it.

JMA, but I should post a disclaimer as well! ;-) Good luck.

Added: This whole crap about being a small start-up is complete bull and really amateur. Tell him that their being a small start up is not your problem or concern. He is trying to make it your problem/concern by whining about it, and that's not fair to you.

nativenewyorker




msg:681171
 11:59 pm on Jun 7, 2005 (gmt 0)

Perhaps posting a widgets.tld splash page "Under Construction ... Coming Soon ..." will get them past the games and make a serious offer.

This 46 message thread spans 2 pages: 46 ( [1] 2 > >
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