I’ve read about how some of the wisest domain investors negotiate huge domain sales, and this is not one of those stories. This is a lesson to domain investors who think a higher offer will always materialize after an opening offer, and hopefully it will make you to think twice when you receive an offer.
At the end of 2011, I received a $5,000 opening offer for a one word, aged .com domain name I had recently acquired at auction for under $100. I did some research on the name and buyer and we sent a few emails back and forth, with me asking him to submit his best offer, assuming his $5,000 offer was just an opening offer.
When I didn’t hear back within a day or two (previous emails were fairly quick), I offered it to him for around $10,000, figuring I would either sell it for $10k, or at the very least, the $5,000 offer.
I didn’t hear back from him for a few weeks and sent a follow up email. Unfortunately, he opted to buy a different domain name.
Although you often hear stories about huge offers materializing from smaller offers, this is a case where the opposite is true. I turned down a solid offer with the hopes of making more, and it didn’t work out.
2011 was one of my best years in terms of domain sales and income, and the offer came in right at the end, so I gambled on it. I think it’s important for you to see how easy it can be to lose a $5,000 sale when you want to be a little bit greedy. It was a lesson learned, and I hope you, too, can learn from my experience.