Sometime within the last 6 months, someone I don’t know emailed me to ask if I was interested in buying one (or more) of the three domain names he listed in the email. I was interested in one, and he told me the price was $500,000. When I saw the price, I said no and he asked for a counter. I told the owner we were too far apart, and I didn’t bother to submit an offer.
A couple of months after receiving the email, I saw that the domain name sold for around $10,000.
Had the owner started in the $10-50k range I may have made a competitive offer. His asking price out of the gate made me question my own valuation, and I didn’t want to submit a lowball offer or get into a valuation argument with the owner.
There are two lessons that I took away and want to share with readers.
A seller needs to have a reasonable price when he or she is making outbound sales. Inbound sales are a different story, but if we are emailing people out of the blue, they should expect to give a fair or at least reasonable price if they want to be taken seriously.
I am sure I bear some of the blame for not making at least some type of offer, but I figured it wasn’t worth discussing any further. Had I taken a chance and told him what I would pay, we may have worked out a deal. On the other hand, the guy could have told me off and called me a lowballer. I suppose it’s something to think about the next time.
I am not sure if I would have paid $10k for this particular domain name, but I probably would have offered something in the ballpark. At least some good came of this.