Rick Schwartz has been tweeting about his negotiation to sell the GoBet.com domain name. The prospective buyer started with an offer of $70,000 in June of 2019, and the buyer incrementally improved the offer since then. This morning, Rick announced that GoBet.com is “now in Escrow for $850,000 AFTER commissions!!”
18 months to make the sale. $70k to $850k
Here’s the formula:
— Rick Schwartz 👑 The DomainKing® 👑 Since 1995 👑 (@DomainKing) December 21, 2020
Rick initially tweeted about the state of the negotiation to sell GoBet.com back in November of this year when the high offer was $280,000:
How long can a negotiation last?
I have a #DomainName GoBet*com
I got an offer from an entity in June of 2019 for $70k
I have been getting offers since but still not in the ballpark.
$100k, $130k, $200k, $150k, $200k, $280k
— Rick Schwartz 👑 The DomainKing® 👑 Since 1995 👑 (@DomainKing) November 16, 2020
Rick has done very well for himself over the years, and his acquisitions and sales have put himself in the position to be able to turn down serious six figure offers without any regret.
From what I can gather from Rick’s tweets, the company continued to slowly increase its purchase offer over the course of 18 months. Rick continued to say “no” or some variation of no without giving a counter offer. The company improved its offer to $750,000 and Rick gave them a counteroffer for the first time:
Additional offers of $350k, $450k, and $500k have each been turned down without a counter.
The offer is now $750k
And THIS is the first level that I have given a counter-offer after 18 MONTHS.
— Rick Schwartz 👑 The DomainKing® 👑 Since 1995 👑 (@DomainKing) December 18, 2020
Rick did not share if the counteroffer was $850,000 or if the counter was higher and the company maxed out at $850,000. Whatever the case may be, an $850,000 sale for this domain name is quite high. In fact, once the deal closes and Rick confirms it with DNJournal, it will rank as the the second largest domain name sale of the year, behind the seven figure sale of Bullish.com.
Congratulations to Rick Schwartz on a great domain name sale.