I received an interesting purchase inquiry for one of my domain names this week. The buyer made an offer, which was more than the typical $100 or $500 offers that I regularly receive, but it was not close to what I believe the domain name is worth. I gave a standard reply that the offer would need to be six figures to be considered serious.
In response, the prospect passed on submitting an offer and told me that he previously owned my domain name and his offer was based on what he paid to acquire it a couple of owners ago. Here’s how I responded to that:
“Would be nice to be able to buy a house I previously owned for what I paid for it many years ago 🙂
Wish I could go back in time and buy many domain names for what they sold for years ago.”
The truth of the matter is that it is not so easy to make a reasonable offer for a domain name without proper research. Sure, this prospect knows what he paid to buy my domain name a long time ago, but the market has changed considerably since then. What may have been a fair and reasonable offer in the late 1990s or early 2000s is no longer considered reasonable. In fact, I pass on offers above his almost weekly.
In a situation like this, I could have been rude or made some other type of comment to him that may have not been well-received. Instead, I thought I would inject a bit of humor in our discussion while illustrating why his offer, which is based on a real comparable, is not actually a reasonable offer today.