HUGE Financial corporation makes offer of ....$xxx

[Theo]

A HUGE financial corporation used a third party lawyer to place an offer of $xxx for a domain I own.

It took me 5 minutes to locate the pending service mark which was filed late last year. The domain is not used for anything related to their services and it's parked at Sedo. The domain was registered 3 years ago. It's a composite 2 worder and it's not a .com.

Knowing the financial strength of the client, what would be the logical step?

1. Push for an incredible amount, or
2. Ask for a moderate amount

At this point, my response email contained ambiguous language, mentioning having had much higher offers in the past and also that the domain is "under development"; closing with the statement that I'd consider offers exceeding my on-going development costs.

Your input is appreciated.

 

[furca]

Ask $3,xxx.

 

[GT Web]

If they really are a HUGE corporation, I would go ahead and ask for a very large sum, nothing offensive, but I'm sure this company has the means to compensate you very nicely for this asset.

 

[Theo]

Obviously, I am looking for more instead of less. :-D However, there has to be a meeting point, considering their offer was at least "poor". I mean, who would utilize a law office to place an offer equal to 2 hours worth of attorney's fees?

 

[Deleted member 70408]

I work for a HUGE financial corporation. A big company has many smaller groups working within it, all with individual budgets. The group within the company that wants your name has a maximum price they will pay for it, and I am sure they also have a back-up plan in case they can't buy the name from you. These types of companies have corporate legal representation on retainer who probably made the offer to you, so 2 hours of legal work is nothing to them. They also have many deals/contracts/other litigation going on, so they probably aren't holding their breath to hear from you to negotiate. No offense, but a large organization, especially in the financial field, won't allow themselves to feel pushed around by a domain name owner, and they probably would not pay a crazy amount of money for a domain name since they probably have investors/shareholders/internal executives to which they must answer.

If you ask for a crazy sum, the company will move on with back-up plans. If the name cost you $x, and they are offering $xxx, you can't lose by accepting the offer. If you don't take it, the offer may not be there and/or they may not be willing to negotiate.

Keep in mind, many people are happy to dish out free advice when their wallet isn't on the line. Best of luck with this deal - let us know how it turns out!

 

[Leading Names]

If the registration predates the service mark registration and is being used in a non-conflicting manner, ask what you like for it.

otherwise... settle for lower amount.

- Rob

 

[DNjet]

In my opinion it really comes down to the domain itself , is it a premium? maybe not seeing it is not .com , how many offers has the domain recieved since owning it? Those are the main factors that would make up my mind.

 

[WhoDatDog]

If you feel the name's value lies mostly with this corporation and that not many other people would offer XXX, then I would say ask for $6,500 and work your way down a bit after that. If you feel that a reasonable person could potentially offer you XXX in the semi-immediate future then I would double or triple the asking price up to just under 20K. This is assuming you would stand at least a 50-50 chance in a UDRP dispute, and assuming it's traffic is not that great. Most, if not all XXX "out of the box" offers have the legs to at least go to low XXXX very quickly.

 

[Theo]

As someone else pointed out, the domain registration date precedes their pending application by 3 years. Furthermore, they are offering to buy the domain which renders the clause about "bad intent" useless. Third, their use of the 2-word term and mine are different. Finally, the .com is registered since 1996 and all other TLD's are taken. They seem to use the term along with "The" in the front but the SM application is just for the 2-words. Therefore, they do have an increased interest in the domain. Their budget might not be astronomical for this particular new service they want to launch, however there is a big difference from $XXX to $XX,XXX. I increased my Sedo asking price from $2k to $8k and we'll see how it goes.

 

[SouthernTn]

thier first offer isn't their final offer.. We all know if you go to a carlot, no matter how much money you got, you see something you just gots to have.. even though you can get it at the lot price, you still try to get it for cheaper..

But, there is always a meeting point.

 

[WhoDatDog]

$17,500 for a"Quick Sale".

 

[Theo]

LOL sounds like a car salesman pitch :-D

 

[WhoDatDog]

Car Salesmen tend to sell a lot of cars. Lots of people have trouble selling names because they make the buyer jump through a million hoops (in addition to sales price).

The bottom line is that you need to make it clear that they will have the name in their possesion that day if they want to cut the check (with no hassles). Sending them to Escrow.com or trying to set them up with a PayPal account will only detract from the goal.

They want the name. They can have it for $17,500 today.....tell them to fax you a one-page and you will transfer the name to them. If you verify it is them then they are good for the $$$$$.

Like I said....."Quick Sale"

 

[DomainTurn.com]

im a car salesman and that is not a carsalesman

a car salesman would say this.

Im wondering why you wish to purchase this domain name from me

I have had it for three years and have recived multiple offer's in the

5000-7000 range and there is times i was getting offer's 2 - 3 in a day.

I will contact you if I can't sell it. It's only fair to pm all the clients that

sent offer's in the past if im going to sell you will need to offer me a price

that is in the range i have already recived. I would link to sedo and say

if you bid 8000.00 through sedo i will accept.

thanks

a carsalesman

 

[GT Web]

$17,500 for a"Quick Sale".

Where did that number come from?

You are right, lets all emmulate car salesmen, that will really bring domainers into favour with the rest of the world.

 

[DomainTurn.com]

sales is a talent

1 in 100 are any good

In a cardealership there is one or two great ones and the rest

just ok

having a tool like a domain name

creating a loss

stating a figure

have a easy way to finish the transaction

he is countering his offer so he needs to state a price.

ps

carsalesman rule

 

[WhoDatDog]

If you state that you have had an offer in the 5K range then that is a lie. If you can swallow the fact that it is a lie then you have also just jeopardized the sale. If their absolute limit is $3,000, then how are you going to accept that when you have stated that you have had offers for more than that?

The only thing that matters is how much money you extract from inquiries in the long run. Those who take anywhere near the first offer are foolish, and those who ask for outrageous sums are even bigger fools.

If the name is a decent name then you must be willing to walk away form a deal that will pay you hundreds of times what you paid for it. Since no one knows what the name is then it this is basically a negotiation 101 class and I am finished with it.

One more thing....GT Webb.....you are really obnoxious with your personal attacks. You seem to show up when I post and unleash your foul personality all of the time. You have stated that you are still in school. I predict a very long and lonely life for you if you act this way in person. It is really bad form and you do it all of the time to many members.

Good luck with your sale.

 

[DomainTurn.com]

If you state that you have had an offer in the 5K range then that is a lie. If you can swallow the fact that it is a lie then you have also just jeopardized the sale. If their absolute limit is $3,000, then how are you going to accept that when you have stated that you have had offers for more than that?

i agree you must make sure you don't over price yourself. For just that reason
you will lose credibilty in your sale. If you try to manipulate not lie. I don't mean for you to lie. just protect your chance of increasing your counter
bid. Remember this person who sent you the offer has in his mind the price he can pay. You need to find out what it is. It will and should take a couple days. Please don't lie on my account.

dt

 

[Domagon]

Without knowing the name it's very difficult to peg a reasonable asking price.

With that said, when dealing with such parties, one often does better to state the price (saying stuff about other offers, development potential, etc is a waste of time; stick to the price) and work from that ... basically, give them the bottom line.

Ron

 

[Rubber Duck]

Without knowing the name it's very difficult to peg a reasonable asking price.

With that said, when dealing with such parties, one often does better to state the price (saying stuff about other offers, development potential, etc is a waste of time; stick to the price) and work from that ... basically, give them the bottom line.

Ron

Yes, if you are expecting to get a decision from a committee they no focus will mean no deal.

Rubber Duck