Set a Minimum Offer Amount

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.

Previous article
Next article
Elliot Silver
Elliot Silver
About The Author: Elliot Silver is an Internet entrepreneur and publisher of DomainInvesting.com. Elliot is also the founder and President of Top Notch Domains, LLC, a company that has closed eight figures in deals. Please read the DomainInvesting.com Terms of Use page for additional information about the publisher, website comment policy, disclosures, and conflicts of interest. Reach out to Elliot: Twitter | Facebook | LinkedIn

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Recent Posts

Rookie Mistake: Reading Expiry Lists at Breakfast

0
Every morning, as early as I am awake, I look through domain name expiry lists to see what is coming up for auction. I'll...

GoDaddy Auctions Running NameFind Auctions

0
GoDaddy is running a featured auction via its GoDaddy Auctions platform with domain names from its NameFind portfolio. While I would argue the domain...

Spaceship Hits 1 Million DUM – Only 13% of New Registrations are .com

3
Earlier this morning, Richard Kirkendall shared that Spaceship hit the 1 million Domains Under Management (DUM) mark. Richard is the Founder of Namecheap and...

Converse.CO UDRP Decision Turns on Price Inference

6
In general, I thought UDRP panels have gotten past the issue of pricing as it relates to generic / descriptive one word domain names....

Ebbs and Flows of Domain Investing

3
My domain investment portfolio has grown from around 500 domain names to around 2,000 domain names in the last several years. Even at that...