Advice

Today is known as “Cyber Monday,” when there are supposedly lots of great deals to be had at online retailers. Many people wait until Cyber Monday to make a purchase knowing there will be special deals and lower prices offered by retail stores. Domain investors looking to book sales might think about using this to their advantage.

If there are any deals that have not been reached yet, or if there are domain name negotiations that ended unsuccessfully, domain investors might consider reaching back out to the prospective buyer to offer a “Cyber Monday special deal.” People may not only be in a buying mood, but companies might have additional funds in their budgets that they want to spend before the end of the year.

Some domain name buyers are more savvy than others. They actually do some research on the domain name they want to buy beforehand. They may use a source like NameBio or GoDaddy’s appraisal tool to find more information about the domain name and it’s value, and they might come across the sale price of the domain name they are looking to purchase.

I recently sent a handful of emails to prospective buyers to try and sell a domain name I had recently acquired. After a brief exchange, the prospect mentioned my acquisition price. I want to share a paraphrase of how I replied without specifics that might reveal the specific domain name:

I am sure you’ve heard the phrase (or one like it), “pigs get fat, hogs get slaughtered” as a warning to not be greedy. Well, unfortunately, I want to share how I got greedy and lost what could have been a profitable and substantial deal as a result.

I recently received an unsolicited mid five figure offer to buy a domain name I had acquired within a year for under $150. The offer started in the low five figure range, and after a couple of emails, the buyer made a mid five figure offer. Under normal circumstances, I probably would have accepted the offer, but having just closed a very large sale, I countered with a higher price. I figured the buyer would either accept the higher price or stand firm with the offer, and I could accept that if the buyer would not budge.