Daily Poll: Do You Go First When There is No BIN?

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I think the majority of domain names my company owns have buy it now prices listed on the landing page or via Afternic. I appreciate a quick and seamless deal, and having a BIN price is helpful to that end.

On some of my higher value domain names, I have not set BIN prices. There are various factors that will impact my asking price, and the domain market is dynamic. Oftentimes, people will ask me for the price of a domain name rather than submitting my offer. When I don’t have a BIN price, I generally push back and request an offer. It doesn’t make sense having a discussion about a $500,000 domain name when the prospect’s budget is $5,000. I am sure this can frustrate a prospective buyer who may think along the lines of a home that is listed for sale where the owner says “make an offer” without a list price.

I am curious about whether you put prices on your domain names when a prospect inquires without first making an offer or if you insist on having the buyer go first. For me, it really depends on the situation. Sometimes I will give a price to make things a bit quicker, other times I will give a range “six figure offers will be considered,” and other times I will wait until the prospect makes an offer. What are your thoughts on pricing names that don’t have BIN prices listed? Do you go first and name your price when asked or do you require the prospect to make the first offer before sharing the price?


3 COMMENTS

  1. I hate placing a bin, but sometimes I think I should for some. I only have two bins now out of hundreds and hundreds of domains. Sometimes I’ll reply with a price, or sometimes a ballpark zone like you did.

  2. I don’t price on 3rd party platforms.

    On NamePerfect.com, I only price some. Mostly under 3k for sales I don’t need to spend alot of time negotiating on.

    Above 3k, I do a minimum offer. I might quote a price if it is a disclosed buyer. I will not I lf the buyer is hiding identity or using a 3rd party or new Gmail and I can’t identify.

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