Domain Negotiation Advice

[DeLaVega]

I started negotiations for a specific domain I own with an interested buyer via email.

He asked me the price of the domain. I answered that I wanted 27k for the domain. He offered 9k. I replied that I can go down to 22k. He answered back offering 14k. I reduce the price to 20k thinking that He will offer more, but I was wrong.

He replied back with a domain appraisal He bought. The appraisal says that the domain value is no more than 1k and that now He thinks his inital offer of 9k was too high.

I answered that sometimes domain appraisals are done by automatic software and they are based on language, length, etc., but I don't know he will agree with that. I said to him that I could accept 17k, but He did not reply (and I have the feeling He will not reply because He's expecting me to reduce the price a lot).

Now I'm not very sure how to proceed because I have the feeling the negotiations are stagnant. I think the domain is worth to him, but He also could live without it (it won't be his main domain). I also know (researching online) He bought a similar domain for 13k some years ago, I don't know if I could justify the price based on this previous purchase.

Any advice about how to follow negotiations to have a successful ending?

Thank you!

 

[Shane]

If you need help with the actual negotiation... Feel free to PM me.

 

[domainoid]

do not think past purchases by the buyer should be used as indication.
should stress inaccuracy of appraisals esp. when done by automated.
if domain is worth to you at least 17k and he now wants to pay under 9k then gap is too wide.- unless you can take a hit and go way below 17k.

 

[Biggie]

you reduced your price by $10k, simply because buyer claimed an appraisal value was lower?

while at one point, the range was only $8k difference

best to break off negotiations and wait for buyer to contact you again, especially if there are more than one potential user for the domain.

imo...

 

[DeLaVega]

you reduced your price by $10k, simply because buyer claimed an appraisal value was lower?

while at one point, the range was only $8k difference

best to break off negotiations and wait for buyer to contact you again, especially if there are more than one potential user for the domain.

imo...

Hi Biggie, I reduced price before the appraisal. After appraisal I reduced a bit more, considering it was still in my expected revenue. The domain is not generic and there may be another interested (maybe two or three) but I think this could be the bigger one.

I agree with breaking off negotiations although I consider it has its risks (I first contacted them 6 months ago and they reply some weeks ago). If the domain would be generic I would have any doubt to break off.

Thank you!

 

[Biggie]

Hi Biggie, I reduced price before the appraisal. After appraisal I reduced a bit more, considering it was still in my expected revenue. The domain is not generic and there may be another interested (maybe two or three) but I think this could be the bigger one.

I agree with breaking off negotiations although I consider it has its risks (I first contacted them 6 months ago and they reply some weeks ago). If the domain would be generic I would have any doubt to break off.

Thank you!

negotiations work much differently, when you contact potential buyers, rather than them contacting you

without knowing the domain, acquisition costs, any earnings, ppc, how long you had it, how many other offers, etc... difficult to advise

maybe should have took the $14K, hard to say.

Good Luck, though!

 

[DeLaVega]

Thank you a lot, I'll see how it goes on!

 

[domainoid]

would be easier if op had a figure he'd not sell to anyone under, a floor. if this person's best offer is less than your floor he's wasting your time.

 

[DeLaVega]

Domainoid, I agree with that. But I consider that some domains could be negotiable, specially when they are not generic and the possible buyers are reduced to only a few.

Thank you

 

[frank-germany]

Domainoid, I agree with that. But I consider that some domains could be negotiable, specially when they are not generic and the possible buyers are reduced to only a few.

Thank you

I have read that book:
maybe you can benefit too

Jim Camp. Start with NO



Frank

 

[DeLaVega]

Hi Frank, thank you, but I can't see the attached book. What's the name of it?

Thanks!

 

[frank-germany]

Hi Frank, thank you, but I can't see the attached book. What's the name of it?

Thanks!

Jim Camp. Start with no

 

[DeLaVega]

Jim Camp. Start with no

Thank you!

 

[Willox Perez]

After reading the back and forth offers, You did the right thing by countering his counters but now that you have lower the price to 17k just simply stay firm. If he really is interested he will come back and ask you for it. Also like someone mentioned there will be other potential buyers don't just settle for the first person who sends you an offer.

Get some facts about the domain name together, if it has some type of stats and history of similar domain names selling at the price you want you can use this to demonstrate the value of the domain.

- Will

 

[DeLaVega]

Thank you Will!

No news from him, It seems negotiations are over. I could try to get him on the phone, but I'm not sure it would help.

I'll have tobe patient and wait.

Thanks again!