Selling my first domain, getting the price right and everything else

[viggen]

A domain I purchased as an afterthought a while back was inquired by someone via email. I havent done anything with it so far, so i asked what kind of price he had in mind. He emailed me back with a 1.500 US dollar offer, which seems absurd high, but i know not much about value of domain names.

Now i have no use for this domain so I am happy to give it away however if someone gives without flinching 1.500. maybe its much more worth...? Shall i happily grab the money or shall i gamble and hope of some haggling?

The other question is, i never sold a domain, how is the best way to do that...

appreciate your feedback..

[bhartzer]

If they're giving you a $1500 offer at this early stage in the negotiation, then most likely it is probably worth a lot more than $1500. They want to offer enough to get your attention, but I am sure that is not what their final offer would be.

I would do some research to see what other similar domain names have sold for in the past (dnsaleprice.com) and then look at some other online valuations like Estibot.com and Appraise.Epik.com to get some idea of the value of the domain.

I would also do some research on the person who is making the offer, to see who they are and why they might want the domain name.

[Webwork]

Check to see if a trademark application has recently been filed.

Check the status of the other gTLDs for the same word(s), with and without hyphens.

Is this a "made up" word? Sometimes you just get lucky and someone really wants to use the word or phrase. Such opportunities don't come around that often. I've seen countless "clever domains" lapse . . only to be reg'ed by the next fool in line.

Don't jump to the conclusion that there's more to come. That may be the case but don't let excitement derail the dialogue. There are plenty of folks who will make a decent offer and then walk away if it's rejected. The approach is a time saver for certain folks in certain situations.

As my colleague Lou used to say "Sometimes the bulls win. Sometimes the bears prevail. The pigs tend to go to slaughter." The trick is knowing when you're a bull, a bear or a pig. (No personal offense intended.)

Lou's wisdom has always stuck with me. I'll be a bit more piggish when I don't mind being served up as bacon, i.e., I don't really need the money, I see value and I am prepared to wait things out, or I simply am foolishly attached to a notion.

[tangor]

If you're not doing anything with it... and have no intention of same, then an offer of that caliber is worth consideration.

If you determine it has value (as suggested by research above) then consider cost/time to increase value/return on name by site creation... Might be missing out on income!

If you counter offer, have valid offer in mind (and able to back it up)... else lose their interest.

[bhartzer]

I would definitely look at Trademarks, other TLDs, and all possible combinations.

If you have any way of looking up exactly who is doing the asking, and looking up their background, then that "might" change the asking price. I mean, if some mega huge corporation is asking about the name, then it would be one price--if it's just a small business, then perhaps $1500 is most likely the most you'll get.

[Lee999]

You also need to be careful its not an outright scam. Watch out for an email asking you to have it appraised at a place of their choice... you pay the appraisal fee and you never hear from the 'buyer' again.

[driller41]

Possible an appraisal scam, dont pay for anything, in fact stick it on SEDO, tell them where it is and let them buy it from there.

[zabalex]

you should research about the other TLDs of the domain you have got offer for. You may initiate a bargain to hike the price. If you have got the $1500 as the first offer you may get more for it.

regards
zabalex

[viggen]

I asked for 2.000 dollar and got in the end 1.750, thanks to the adivise here i used an escrow service, all went fine...

very happy to get so close before christmas an extra bonus! :)

[Webwork]

No doubt we're all very happy for you, each also hoping we'll be next in line to have a buyer come calling. ;)

Nicely done viggen. Enjoy the early Christmas bonus! ;)

[wheel]

I'd have bet this was a scam - glad to hear it's not. Nice to hear that there was a nice payout!