I have been in off-and-on negotiations with a prospective domain name buyer since December. I am looking for high 5 figures for this particular domain name. When the discussion progressed last week, he asked why I increased my price from $18,000 to high 5 figures.
I searched through our email exchanges, and I found no mention of an $18,000 price. I asked him to forward me my email with this price because I knew it didn’t exist. He forwarded me an email mentioning the domain name and $18,000 price, and sure enough, it was not from me. It was from a former domain owner. His company subsequently sold the domain name to the company from which I bought it.
Unfortunately for the prospective buyer, he should probably have bought the domain name two years ago when the price was $18k. Now that I have acquired this domain name, it is not for sale for close to that price. Mentioning the $18,000 price from two owners ago only reinforces how much more the domain name will likely cost, assuming the former owner got close to his ask and the next owner sold it for a profit.
In my opinion, $18,000 is a very good price these days for a high quality domain name. This particular domain name would make a nice brand name, and the prospective buyer should have struck a deal when he has an opportunity.
I know that many people don’t have an extra $20,000 +/- laying around to buy a domain name. However, for most companies and startups, a 5 figure outlay for an exceptional domain name will bring considerable benefits. If you have a startup and are looking for a great brand name and accompanying domain name, do what it takes to make that happen.
Oftentimes a failed negotiation spurs a domain owner to try and find another prospective buyer. When someone else sees the value in the domain name and buys it, the domain name will either become much more expensive to buy or will not be available.
If the price for your top choice domain name is justifiable, you should buy it while you have the opportunity.
I usually ask prospective buyers to imagine what it would cost if they had to buy from a competitor instead of me. People just don’t get it.
You couldn’t give away crappy llll.com last year, this year, the crappiest sell for $100 min.