How do you respond to...."How Much?"

[tonyfloyd]

ok....do i respond with " we would entertain offers in the high xx,xxx to low xxx,xxx range"?.....or state an actual figure?

 

[Dale Hubbard]

No, do not quote DNJournal or other sales when it's you who initiates a sales pitch. The point is to sell your domain, not to match other sales in the eyes of the prospective buyer. Play smart.

THIS post is right. Other than that - remember you are in the driving seat.

ok....do i respond with " we would entertain offers in the high xx,xxx to low xxx,xxx range"?.....or state an actual figure?

Don't get to clever Tony. Ask how much their organisation might be prepared to budget for the asset.

 

[cleverlyslick]

everytime you contact somebody on a domain give them a price that is both good enough for you,but reasonable for them as well (i believe you can base price on the name itself.is it short,catchy,will custies memorize it easily).This way if the potential buyer wants to haggle,you can still come out with what YOU thought was profitable enough.Also remember what might be worthless to a person can be extremely valuable to the next.that's why i don't ask for appraisals anymore,i appraise my own domains.this has worked for me.in january alone i've made 4 sales.two domains for low $xxxx and two for low $xxx.i reg'd these domains so i think i caked off pretty good.

 

[Dale Hubbard]

NO don't give them a price. Let them make an offer.

 

[Theo]

Tony, call Nick. He can sell the Manhattan bridge to a guy from Brooklyn

 

[cleverlyslick]

pm sent tony.Acro i tried sending you a pm 2 days ago but your box is full.can you clean up your box a little so i can send a pm?

 

[Dale Hubbard]

Use BRAINS Tony. Acro is flipping out here with his 'bridge' analogy. It's common sense really. You don't go into a poker game with all cards showing do you?

 

[tonyfloyd]

Use BRAINS Tony. Acro is flipping out here with his 'bridge' analogy. It's common sense really. You don't go into a poker game with all cards showing do you?

exactly my point!!!!....so...i have a figure in mind.....they ask "how much"?....now what???...do i expose my hand???...no...so????..

 

[Dale Hubbard]

Are you in a hurry? I am thinking not. Then chill for 2 months Tony. Nothing to be ganied by storming in.

 

[HarveyJ]

My technique is as follows:

I roll a pair of dice twice, sum them up and multiply by 1,000

Cute.

I've often thought it would be a good idea to come up with a set formula.
I often do $100x # of years registered for just a parked domain, unless it's getting decent traffic, in which case I also tend to add 15x monthly revenue.

For a partially developed site, If it's broken Alexa's Top 100K, which has only happened once for me, I tripled the figure.

 

[tonyfloyd]

Are you in a hurry? I am thinking not. Then chill for 2 months Tony. Nothing to be ganied by storming in.

ok....not in a hurry....however....i am not gonna wait 2 months to reply back to e-mails from these HIGH salaried professionals....who are asking me..."HOW MUCH?"......so....here we go again....what do i reply back with???..

 

[theinvestor]

Tony did you ever wonder why they are asking you how much?

Because everything in business depends on the price. If you have no price, then you are wasting their time and yours.

Once you give them the price, either they will try to negotiate because they are interested.

Or they will realize it's not worth it to them for the price you are asking.

If you don't want to give them a price...then don't bother responding. Now you are really wasting their time!

 

[Ilze]

Tony did you ever wonder why they are asking you how much?

Because everything in business depends on the price. If you have no price, then you are wasting their time and yours.

Once you give them the price, either they will try to negotiate because they are interested.

Or they will realize it's not worth it to them for the price you are asking.

If you don't want to give them a price...then don't bother responding. Now you are really wasting their time!

Now that you have their attention, which is HUGE, name your price. Investor is right. Stop wasting time. and,...if you have not already included the BENEFITS of owning the domain, that is also the time to do it. Simple sales 101. What we domainers know through experience, newbies out their need to have this info spoon fed.

They could just be curious..or they could be serious., so I would aim high...cause you can always lower your price during a counter offer situation.

Good Luck

 

[tonyfloyd]

ok....will do.....now....as far as benefits of owning this domain...as an ex....you are a locksmith....a very well respected....high income earning locksmith....someone is offering you locksmith.com......as the seller.....the benefits of owning locksmith.com are obvious.....do u need to relay this to the buyer??....obviously the buyer wants this name for that same exact reason...this is what i do...what better name to have...than locksmith.com!!...no??

this is what i am faced with....

1-not screwing myself by replying back with too high/too low of a price
2 -the benefits are clearly implied....do i need to tell a locksmith...why he needs to have locksmith.com???

 

[theinvestor]

One final note.... there is a complete difference between getting an inquiry about a domain and sending ones out trying to sell a domain.

When you walk into a store there are prices listed everywhere. I wouldn't want to have to ask how much everything is for and then get a reply of "what's your offer".

I don't knock on peoples door trying to sell an amazing new product of mine that when you ask for a price ...it's "Make an offer".

Think of this logically and i hope you reply accordingly. Companies don't like their time wasted...if you play it smart...the ones who contact you back will be the ones you want to deal with.

Good luck to you Tony!

Tony EDIT to your above post. Yes you need to explain why it is he should want the domain. No matter what it is. The reason is most businesses do not understand why owning a generic will benefit them. Explaining traffic, revenue that it can generate from this is something that would make them interested in your domain. If they know they can profit from it...they will be willing to pay $$$.

 

[Ilze]

2 -the benefits are clearly implied....do i need to tell a locksmith...why he needs to have locksmith.com???

Tony....Yes, you do...You need to remind them of something they already know...you need to SELL them the domain and make them feel good about paying several K for something that is seen as intangible. Give me a call if you wish to discuss this further. Some buyers just want a quick price, ...and others need to be coddled and sold...Better to ere on the side of caution and give them stats and remind them the value of the internet. Afterall, there is only ONE Locksmithcom Do they want their competitor to own it?

later,

 

[tonyfloyd]

2 -the benefits are clearly implied....do i need to tell a locksmith...why he needs to have locksmith.com???

Tony....Yes, you do...You need to remind them of something they already know...you need to SELL them the domain and make them feel good about paying several K for something that is seen as intangible. Give me a call if you wish to discuss this further. Some buyers just want a quick price, ...and others need to be coddled and sold...Better to ere on the side of caution and give them stats and remind them the value of the internet. Afterall, there is only ONE Locksmithcom Do they want their competitor to own it?

later,

Exactly!......there is only ONE locksmith.com.....just not sure why an interested locksmith buyer needs to be told the obvious??

however.....i will do!!

thanks!
tony

 

[mvl]

...
Why would you mention a figure?
...

Because you inititated the whole process. If you offer a product be prepared to tell them your price. If you don't want to do that, don't send out the emails.

It would be silly to tell someone: "Hey , I have a nice custom car for sale that you might be interested in but I am not going to tell you how much I want for it".

 

[lordbyroniv]

Go to Barnes and Nobles and buy "Negotiating for Dummies"

You either have the instincts or you don't

A good strategy when negotating is to know your end game before you even send out an email

Otherwise , how would you know where you are going ?

Again, buy a book

 

[tonyfloyd]

Go to Barnes and Nobles and buy "Negotiating for Dummies"

You either have the instincts or you don't

A good strategy when negotating is to know your end game before you even send out an email

Otherwise , how would you know where you are going ?

Again, buy a book

i know my end game....just asking if it gets exposed so early...in the 2nd email.....no book needed......thanks anyways...