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good offer for domain but should we accept?

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TimTim

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hi, my brother and i have an 8 letter domain, no trademark infringed or anything just a fairly good name, and a lady has shown interest in it and wants to pay $450 (first offer) and claims that is all she can afford. but, no kiddin, we found out that she is very rich and has made a lot of her money off various websites and webbusinesses she runs. so now we assume that this lady will turn the domain into a good moneymaker, possibly a side-project for one of her big moneymakin websites. fair enough, but what do we do? her $450 offer is good, for this particular domain, but with what we learned about her and also because we now don't believe at all that she doesn't have more than $450 like she claims, should we ask for more? your advise will be greatly appreciated.
 
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Bob

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TimTim -

Whether or not the person has money should not be a factor in whether you sell or not.

This is one of the mistakes I see a lot of people make. When you first acquire a name, you should set a target. Once you get an offer at or above your target, take it and move on.

Too manypeople get caught up in the "but I think I can get more" thing. If you would have beenhappy with $450 before she contacted you, then take it. If not, hold out.

I have sold names and have gone back to the websites a fewmonths later. A huge world organization bought one of mine for $100. Wouyld they have paid more? I **know** they would have. Am I mad? Nope! I got my asking price, turned a profit, and moved on to bigger things. . .

Keep it all in perspective when you have a potential sale.

Good Luck!

-Bob
 
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TimTim

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thank you. you brought up various good points.
we did / do realize that $450 offered by, say, a minimum wager or $450 offered by a millionaire, is in both cases the same amount of money, and that for this particular domain the $450 would indeed be good money. but what we have a problem with, in a way, is that she states that all she can afford on this domain is her $450, while we for sure now know she is a multi millionaire, so it is very likely she can, and would be willing to, spend more. her claim is probably just a standard "smart" practice, from a business point of view, just like her emailing us (well, my brother) from a generic hotmail address instead of from one of her businesses addresses, but it is also not being truthful.
 

GeorgeK

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TimTim: feel free to email me. If it's a good name, I might bid higher than her.
 

Bob

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Originally posted by TimTim
thank you. you brought up various good points.
we did / do realize that $450 offered by, say, a minimum wager or $450 offered by a millionaire, is in both cases the same amount of money, and that for this particular domain the $450 would indeed be good money. but what we have a problem with, in a way, is that she states that all she can afford on this domain is her $450, while we for sure now know she is a multi millionaire, so it is very likely she can, and would be willing to, spend more. her claim is probably just a standard "smart" practice, from a business point of view, just like her emailing us (well, my brother) from a generic hotmail address instead of from one of her businesses addresses, but it is also not being truthful.

But still, you should not take into account who the person is. It does not matter if the are poor or whether they are a millionaire.

I get those kinds of comments all the time "This is the most I can pay" or "I will have to live on peanut butter and jelly for a month" or whatever. Beleive me, I get them all the time, and it is not my problem (not to sound harsh :D )

I keep everything business. No pesonal feelings or circumstances. When negotiating, I present facts. It makes it a lot harder for them to talk you down when you use facts and they are trying to play on your feelings and circumstances. . .

I saw this situation unfold:

A seller would have taken $100 for a name. He was contacted by a potential buyer. The buyer offered $400. The seller KNEW that the buyer had money. The seller then countered with $1000. I asked the seller his logic. The seller said that he knew the buyer had money and could afford it. I pointed out that just 2 days previous the he was willing to take $100 and why not take the $400 as it was 4 times his original asking price :confused: . That fact did not matter. The buyer walked away from the $1000 counter offer. The seller lost a sale of a domain name where an offer was given that was 4x his original asking price, but because he knew the background of the person involved, he tried to get more. After the buyer walked away, the seller was kicking himself and said "I should have taken the $400." I just shook my head in disbelief.

Remember though that there are some people out there who will give their best offer the first time around. When I negotiate, I am **usually** like this (but not always). Your buyer might be one of these people.

You can certainly approach the negotiations in any way you want. Your buyer may be willing to pay more but $450 might be her highest offer too. Are you willing to call the possible bluff and lose a $450 sale over it?

Only you can answer that given the amount you have invested in the name.

Good luck.

Please keep posting with what you decide and how it unfolds. I am very curious and would like to watch this :)

-Bob
 

garet

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Also, I'd point out in some cases someone might say "all that I can afford" or something similar and not mean it literally or in absolute terms. In context, it might mean "all that I can justify" or "all that I'm willing to spend" for a particular domain."
 

Bob

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Originally posted by garet
Also, I'd point out in some cases someone might say "all that I can afford" or something similar and not mean it literally or in absolute terms. In context, it might mean "all that I can justify" or "all that I'm willing to spend" for a particular domain."

Agreed. And that is part of the "fun" of the cat-mouse negotiating game. :D

-Bob
 

NamePopper.com

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Bob really is speaking from wisdom and--(more importantly)--experience here. He covered it perfectly.

Don't let the person's financial status make you greedy. They are not being dishonest when they say that's all they can pay. As Garet also pointed out--it may just mean that's all they can "justify" for that particular project.

For that matter--who care's if they "could afford" to pay more. They might not be "willing" to pay more--and then you lose the sale. You will be kicking yourself if that happens. We've all done it.

Remember too--that wealthy people are some of the cheapest folks around. That's how they stay wealthy. :D
 

abrams1117

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I turned down 3k for a DN that is now collecting dust.
Your first offer may be your last.
 

draqon

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dont feel bad, one of my friends turned down $100,000 for a domain during the height of the dot-com era, and its busy collecting dust.
 

nicorlino

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listen to bob, he knows what he's talking about.
what domain did he turn down the $100,000 offer?
nico
 
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TimTim

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thank you very much for your wise advice, that's exactly why i came here. i am happy to tell you that we received an offer from the lady which was higher than the $450, and the sale will be on (sorry george!). hopefully we can disclose in the future which domain this was all about.
 

Bob

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Originally posted by TimTim
thank you very much for your wise advice, that's exactly why i came here. i am happy to tell you that we received an offer from the lady which was higher than the $450, and the sale will be on (sorry george!). hopefully we can disclose in the future which domain this was all about.

Congrats.org

Glad you were able to get more.

Did you call her bluff, or did she simply offer more?

-Bob
 

domainduck

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It's cheap enough to renew a name and wait another year, or two, or three if you got the patience and $$ for it.
 

draqon

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nicorlino, since its not my domain, its my friend's, im not going to say either the domain or the person. sorry. he received the offer through Great Domains. thats about all i can tell ya.
 

spietreser

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Originally posted by draqon
dont feel bad, one of my friends turned down $100,000 for a domain during the height of the dot-com era, and its busy collecting dust.

oh boy... i guess someone is kicking himself now!
 

DomainPairs

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I sold a domain to Ebay a while ago for around $20. I didn't know it was ebay buying at the time, and I didn't want to renew it. It now points to their home page in the UK.
 

Darkfire001

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Yah, Ive heard that ebay is picking up quite a few domains related to their "industry"and more. And Whoa turning down 100K even during the Height of the time was still very rare.

And the higher selling price is nice I was about to say are you sure the women is richer, because if it was really all she could afford you might not get a higher offer.
 
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