I bought a 3 word .com domain name at NameJet in 2011 for around $500. The following year, a prospective buyer and I negotiated the sale of this domain name for $20,000. The buyer had explained that he had wanted the name for several years and was surprised the former owner sold it (it expired, but that’s not important). When it came time to pay, the prospect disappeared and despite several attempts to finalize the deal, it never went through.
Last week, a totally different buyer inquired about the domain name. He offered $500 to buy it, and I told him the price is $25,000. I priced it that high several years ago more as a penalty in case the first buyer came back, especially if it was through an alternative channel. Put simply, I did not want him to get a better deal or me to lose on the initial deal by dropping the price. The domain name may not warrant a $25,000 price tag right now, but that’s the price.
This second buyer told me he wants to buy my domain name to use for his unsigned band’s website. Unfortunately, his best offer was $1,000, and I passed. I would sell this particular name to this prospect for less than my $25,000 price, but it’s not worth doing a deal at $1,000.
The prospect told me he registered the 3 word .Rocks domain name instead, and I think that is a good decision. Spending $20,000 – $25,000 on a 3 word .com domain name is probably not worth the investment for an unsigned band. For a band website like this prospect’s, the .Rocks domain name should work out just fine.
I am obviously a .com investor, but I think a .Rocks domain name will work out fine for this band. If they feel the .Rocks is confusing or limiting, the .com may still be available in the future. The only concern is if the first buyer comes back. I reconnected with the guy who said he still wants it, but when I reminded him of what he offered, he disappeared again.