Someone wants to buy my domain...

by alchik
4 replies
Hi,

I just got contacted out of the blue the other day by a very well know entity who wants to buy my domain. Apparently my domain name is the same name as a venue they recently purchased. The investment they are making in their venue is in the neighborhood of $100 million. The gross income of this company in 2012 was around $500 million.

Anyway, they asked me if I was interested in selling and want to speak to me on the phone. Thus far I've responded to the email saying I would be interested in selling and look forward to hearing their offer. The response I received was that they were out of the office on business til Monday and would that be ok.

Naturally after finding out about all this I'm a bit stoked but I'm certain they will lowball me initially. I just want to make sure I don't shoot myself in the foot on this. Right now the ball is in their court to make the offer and I'm going to keep it there till they give me one. Any ideas on how I should proceed going forward after the initial offer? I do know they purchased a domain name for a venue in 2004 and paid 20k for it. Anyway, I'd appreciate any constructive input!

TIA,

Al

BTW, I've sold a few domains in the past but they went through Sedo and GoDaddy and I never knew who the actual buy was. My last sale was 2 years ago for $4000 for a somewhat similar domain name...
#buy #domain
  • Profile picture of the author TeamBringIt
    Originally Posted by alchik View Post

    Hi,

    I just got contacted out of the blue the other day by a very well know entity who wants to buy my domain. Apparently my domain name is the same name as a venue they recently purchased. The investment they are making in their venue is in the neighborhood of $100 million. The gross income of this company in 2012 was around $500 million.

    Anyway, they asked me if I was interested in selling and want to speak to me on the phone. Thus far I've responded to the email saying I would be interested in selling and look forward to hearing their offer. The response I received was that they were out of the office on business til Monday and would that be ok.

    Naturally after finding out about all this I'm a bit stoked but I'm certain they will lowball me initially. I just want to make sure I don't shoot myself in the foot on this. Right now the ball is in their court to make the offer and I'm going to keep it there till they give me one. Any ideas on how I should proceed going forward after the initial offer? I do know they purchased a domain name for a venue in 2004 and paid 20k for it. Anyway, I'd appreciate any constructive input!

    TIA,

    Al

    BTW, I've sold a few domains in the past but they went through Sedo and GoDaddy and I never knew who the actual buy was. My last sale was 2 years ago for $4000 for a somewhat similar domain name...
    Aim, for at least 50-75ks! If they, want that domain..bad enough, they gotta pay
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    • Profile picture of the author Steve B
      In most price negotiations, the first one that names a price usually loses. So don't offer anything until you first hear them say a specific number.

      Also, just as word of caution, don't get your hopes up too high just yet.

      I have an excellent domain that a competitor wanted (still have it) and he indicated that he was prepared to offer me $XX,XXX for it. I had it appraised on my own dime just to make sure others saw the value in it that I did.

      I also called another big time Internet business owner in the niche who is a friend and asked for his opinion. He told me to not let it go for less than $100,000.

      Long story short, I told the competitor that I would accept his offer as stated because I wasn't using the domain. His reply was "I can't really offer you that, but I will give you $100 for it."

      He was just fishing to see if by chance he could steal a good domain.

      Good luck to you,

      Steve
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      Steve Browne, online business strategies, tips, guidance, and resources
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      • Profile picture of the author alchik
        Originally Posted by Steve B View Post

        In most price negotiations, the first one that names a price usually loses. So don't offer anything until you first hear them say a specific number.

        Also, just as word of caution, don't get your hopes up too high just yet.

        I have an excellent domain that a competitor wanted (still have it) and he indicated that he was prepared to offer me ,XXX for it. I had it appraised on my own dime just to make sure others saw the value in it that I did.

        I also called another big time Internet business owner in the niche who is a friend and asked for his opinion. He told me to not let it go for less than $100,000.

        Long story short, I told the competitor that I would accept his offer as stated because I wasn't using the domain. His reply was "I can't really offer you that, but I will give you $100 for it."

        He was just fishing to see if by chance he could steal a good domain.

        Good luck to you,

        Steve
        I doubt they'd jerk me around like that. They pretty much have the same name recognition as Microsoft so I would think if they made an offer they'd stick by it. I'd be highly surprised if they didn't though not surprised if they offer low to start with....
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        • Profile picture of the author randak
          I would definitely strongly consider going through escrow.com to make sure you have a mediator or middle man whatever so you don't get taken.
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