Got a $500 offer, help me maximize this sale

[Deleted member 111831]

From his negotiation range leap I can tell he would not mind seeing a $5,000 asking price which he'd again negotiate to around $3k. You seeked advice on how to maximize your profit, what I see from your decision was simply an example of rushing to a higher price.

But then again, if you're happy with turning a $500 offer to a $1,500 sale that's what matters. Congratulations.

Gotta start somewhere, under normal circumstances I would have just accepted the $500.

This was an experiment. I think it went well. Hopefully it goes even better next time.

 

[hugegrowth]

Think of it this way, even if you get less overall sales, the sales you do get will make up for it because you are getting higher prices for them.

I'd rather sell one domain for $1500 than three domains for $500.

 

[Jilo]

Well done on the sale. But I feel you could have got a lot more. Go back to your original 10k offer: buyers who aren't serious would have deleted your email and moved on at this point. The fact he replied shows he wants a good price negotiation - and mid/high four figures is possible at this point.

Then your next move is to quickly reply with a $2k offer. You've just lost yourself a potential $8k at this point - without much negotiation from the buyer. After a couple of days, email him (apologise and say you had something more important to do too!) to say you'll go down to $8k but no lower - then let him reply.

I think with a few more emails or a phone call you could have got $6k. I've done the same thing before - replying too quickly with a price that's very low... And I won't be doing it again!

But, $1500 for a domain you bought at $1xx is a great return and better than $500!

 

[Deleted member 111831]

Thanks Jilo,

My main reason for wanting to close quickly is that I can't figure a way somebody could need this particular domain. I think for him it was probably a nice brandable, of which there are many available for less than $10k. I didn't want to lose the sale.

Thanks for the advice.

 

[britishbulldog]

Yes i have lost many $1500 sales buy being to greedy and kick myself sometimes about it......

 

[DTalk]

I suppose we'll never know if you could have parlayed a few more grand from the sale.....But, your ROI is fantastic on, what you regard, is a so-so name, in the first place. So, I'd be pleased with that.


Personally, I'm a bit like Acro on this - on my best names, anyway....I decide what I regard is the true value/potential of the domain to the right user - and price accordingly....and, couldn't care less if whoever is enquiring thinks the price is too high......Selling a very good name below true value is the real 'loss' imo...

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