Recieved offer on SEDO

[tonyfloyd]

Hi all.....quick question...first time I ever received an offer on SEDO....if I do not want to accept offer what do i do?...just ignore it?...I try to decline offer and it says ....."You must first enter your asking price before you can cancel the negotiations!"

How do i do this?....enter an asking price?..i do not see this option anywhere....should i even respond to this low-ball offer?...what happens if i don't do anything?

thanks!
tony

 

[Bill Roy]

When rejecting an offer they get you to submit a counter offer which is binding on you for 7 days! So if the offer is lowball make sure you counter high, if they accept it fine, if not then you are in the clear.

Again just one of the little nuances that make Sedo suck big time!

 

[Onward]

If you do not do anything...it will expire in 7 days. I used to get a few of these a day until I moved my minimum offer over $700 on most names.

What you may want to do is put in an asking price 3-5x what you would accept and see if this is just a lowballer or someone who really wants it...if it is a lowballer..they will not respond...it is annoying because then the name will be there in the que for 7 days.

 

[tonyfloyd]

im trying to submit a counter offer ( a very high one...)...it doesn't seem to be accepting it....any reason why?.....i will probably just leave it alone.....how do i set a minimum offer for future use?

thanks
tony

 

[Theo]

After I publicly messed with Sedo's offer system a while back (can't remember which thread) in which I asked for people to place offers in the millions, Sedo apparently lowered the expected upper limits

 

[tonyfloyd]

so...what do i do?...just leave it alone?

 

[garptrader]

Some low offers may come from domain resellers like one sees in the Domains Wanted section who want a one-word .COM for $100. But they could just be seeing how much you want and starting low. If you respond with a ridiculous price then you eliminate the possibility of a sale. Respond with a much higher but not ridiculous price to test how serious they are. If they are a serious buyer then they will up their bid. But my experience with really low offers is they generally aren't real end users. On the other hand I did receive an initial offer of a few hundred dollars once for a name, thought the price was too low and didn't respond (on Afternic). They came back several weeks later with an offer more than twice their original bid. I'm hoping to still negotiate a bit higher. Good luck.

 

[robmac]

just leave it and it will expire

 

[dvestors]

Why not counter with a reasonable price you'd be happy to sell for? Oh, what a concept!

 

[Bill Roy]

The problem with countering is that it ties your domain up for 7 days. This would not normally be a problem if the 'bidder' could be verified in any way as serious. Unfortunately the high number of bids made on Sedo by those never seemingly wanting to buy means that domains are tied up with no prospect of a sale.

 

[whitebark]

Why not counter with a reasonable price you'd be happy to sell for? Oh, what a concept!

Just what I was thinking... isn't that why you list your names at Sedo?

 

[BELLC1]

The problem with countering is that it ties your domain up for 7 days.

Actually, what it locks up is your ability to edit the individual domain name SEDO record.

Other bids can still be received from other parties and you can accept someone elses and ignore prior bids and lowballers.

Counteroffers to your counteroffer and usually be avoided by declining to "Please justify your asking price" which generally indicates a reseller is trying to pick your domain up for chump change. [I have added to the description on my SEDO-parked domains, "Requests for 'justification' will result in cancellation, price doubling or auction."]

 

[dcristo]

Why not counter with a reasonable price you'd be happy to sell for? Oh, what a concept!

If only most domainers had this logic!

 

[tonyfloyd]

If only most domainers had this logic!

Because if I counter.....my price is binding...no?

 

[H2FC]

If you counter offer your price does bind you if the buyer accepts, however if the buyer comes back with a lower offer you can then put it on the auction block if you want to....or you can counter again....or you can just ignore his offer and let it expire after 7 days. Of course you can put it up for auction after the buyers first offer but you will have to sell for the first offer price if you get no higher bids.

You really need to read the sedo rules concerning all of this...its not that hard to understand.

 

[tonyfloyd]

i read them..and that's how i understood them....just wanted to confirm it all....thanks!......but...are u limited as to how high of a counter offer u can reply with?....

 

[domainah]

i read them..and that's how i understood them....just wanted to confirm it all....thanks!......but...are u limited as to how high of a counter offer u can reply with?....

They did put a limit in there to avoid people just send a Billion Dollar request thinking that way they can get the highest price. What it actually does is, that the other party will (rightfully so) think you are unprofessional.

This is business. Counter with the real price you would sell the domain for, plus maybe a little margin. It sounds more like you are way too concerned about trying to find out what the real absolute max price would be that the potential buyer has in mind, rather than what your price should be.

If the name is of lower quality for a reseller (which sounds like it as you have not received a privious bid for this domain), usally a good counter offer is something like 3-4k. People that are looking to hit the jackpot with a bad/mediorce name for are never going to make a sale as there are too many alternatives for this name.

 

[tonyfloyd]

3-4K is not a good counter offer for me for this name....i would never sell it at that price.....and if my high counter offer makes me seem unprofessional....then what does their low ball offer make them seem like??....professional???......

 

[Varchar]

Hi Tony,

I got lowball offers daily from sedo. From my experience, it is a waste of time to counter any of them. If your initial offer for a $xxxx domain is $60, you can just let it expire. If the person is seriously, they will increase the offer and then you can start negotiating with them.

I never have a sale from sedo which the initial offer starts low. All my sales are from serious people who make reasonable offers to start with. Even end users know that if they want the name, they will not be able to get it for $60...

 

[tonyfloyd]

i agree with you Kawing...I plan on letting the offer expire...but i couldnt resist without counter offering $350,000K....just to stick it back to them...