I receive uneducated domain name purchase offers nearly every day. Some prospective buyers may hope to get lucky with a deal and some genuinely haven’t the foggiest idea that domain names sell for serious amounts of money. The result is that my self-managed landers for high value domain names receive far more offers that aren’t serious than offers from bonafide buyers.
For the 80%+ of my portfolio that is replaceable inventory and utilize Dan.com or Afternic landing pages, I set minimum offer amounts to prevent a deluge of lowball offers. The lowest minimum offer I allow on any of my domain names is just shy of $1,000.
In general, I will set the minimum offer amount to approximately 50% of the BIN price. The minimum I set depends on factors like my cost and whether or not I think the BIN price I set is realistic. This doesn’t mean I would accept a minimum offer. In fact, I hardly ever accept an opening offer.
On some names that are priced at levels I would consider grand slam home runs, I might set the minimum to 1/4 or 1/3 of the BIN price since I would consider selling depending on current business circumstances. I don’t regularly update my prices, so I would rather allow someone to make a reasonable offer that I can reject or counter rather than choose something else.
I think most platforms default to no minimum offer, and this allows people to submit offers that are far too low to even consider. It can be annoying and frustrating to receive low offers that aren’t serious, and I see no reason for people to not set a minimum offer amount to at least weed out uneducated people or people who have no budget.
The one caveat of having a minimum offer amount is that some people will play around with the offer field in an attempt to find the least amount they can offer to enable them to submit their inquiry. Upon discussion with them, it is later learned their offer isn’t genuine but was only submitted because that was the lowest they could submit on the platform.
