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GoDaddy Broker Wants to buy my Domain Name. How to proceed ?

by tenaka
11 replies
So, weird one. Any help would be appreciated

Contacted by broker offering to buy domain name, via godaddy. All seems legit.
The domain name is undeveloped, a project that never took off, but I like the name and use it for testing etc.

My question is, how to value the domain name ?

The name is an Irish phrase, in fairly commonly usage in English as a saying, and recognised /used by non-Irish people. It is a .COM.
It is a 2 (two) word domain name, correctly spelled, 11 characters with no special characters or dashes.

Can any advise ? My gut is that this maybe a good opportunity if the buyer is serious.

Thanks,

Tenaka
#broker #buy #domain #godaddy #proceed
  • Profile picture of the author DABK
    So, what kind of business(es) is the domain suitable for?

    Do you like the offer?

    How many offers have you gotten before this one?

    How long have you owned it?

    What are you going to do with it if you do not sell it?


    Originally Posted by tenaka View Post

    So, weird one. Any help would be appreciated

    Contacted by broker offering to buy domain name, via godaddy. All seems legit.
    The domain name is undeveloped, a project that never took off, but I like the name and use it for testing etc.

    My question is, how to value the domain name ?

    The name is an Irish phrase, in fairly commonly usage in English as a saying, and recognised /used by non-Irish people. It is a .COM.
    It is a 2 (two) word domain name, correctly spelled, 11 characters with no special characters or dashes.

    Can any advise ? My gut is that this maybe a good opportunity if the buyer is serious.

    Thanks,

    Tenaka
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    • Profile picture of the author tenaka
      They haven't made an offer, but asked a price.
      I've given impression that I'm not that bothered, and asked them for an offer.
      I own the site for about 10 year, and have had various things on it, originally for a failed project. I did get one enquiry before, but the project was active then.
      Quite happy to hold the site if nothing happens.
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  • Profile picture of the author Frank Donovan
    The value is determined by the buyer. If it's part of a branding project - especially if the name is already being used on their social media activity - the name could be very valuable. Or they could just like the name and are fishing to see what price they can get away with.

    If I were you, I'd ask them to make an offer, explaining that you aren't necessarily in the market to sell - maybe because you have plans to develop the domain - but could be tempted by a reasonable bid.

    Then it will either come down to how much you want to keep the name or how much you want the money.


    Good luck!
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    • Profile picture of the author tenaka
      I've done exactly this, and they ignored that part of the email, instead asking me to give price. My feeling is to let it sit, and if really interested, they'll come back.

      Thanks for reply.
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  • Profile picture of the author DWolfe
    You may want to switch to the classic view and quote the people you are responding to. Some of us are not on the feed. Just highlight on you user name and a drop down box appears. Then click classic.

    On another note. Make sure you keep the domain paid in advance on GoDaddy. If it lapses the other person will be quick to get it or GoDaddy will chare a premium for the domain to renew it.
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  • Profile picture of the author Kay King
    they ignored that part of the email

    I'd ignore them until or unless they make a real offer...they are fishing.
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    Dear April: I don't want any trouble from you.
    January was long, February was iffy, March was a freaking dumpster fire.
    So sit down, be quiet, and don't touch anything.
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  • Profile picture of the author Profit Traveler
    Banned
    Good to wake up to at least.

    I was told recently by a great friend and colleague who forwarded a couple of my domains to a seasoned broker that one was currently worth (in the opinion of that broker) $4000 and with 6 months consistent rev could be in the 6 digit range.

    Domain success stories take alot of twist and turns sometimes and sometimes they are a slam dunk as Frank shared depending on the buyer and their unique position.


    What ever you do now or in the future...use ESCROW.

    Document everything including the business conversations.

    I could tell you some stories.
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  • Profile picture of the author savidge4
    Im not understanding... whats the deal with waiting on them to give a price...

    Do you want to sell it or not? its pretty much that simple....

    Yes I want to sell it, give them what you believe to be a reasonable price.

    You dont want to sell it... give them a I dont want to sell it price. ( an FU price )

    Kind of selling/pricing 101.. its a whole lot easier to lower your price, than it is to increase it... The BUYER is going to give you a price that is favorable to them - DUH

    And then the negations start... you can do what double the offer? and then settle for 1.5X the offer?

    YOU are the one selling the domain, and yet you are wanting to hand over all of the leverage of the negotiation?

    Watch some Pawn Star videos and watch how they take control of the pricing.

    You simply cant sell anything if you cant even give a price - stop with all the drama and just drop a price already.
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    • Profile picture of the author Profit Traveler
      Banned
      Originally Posted by savidge4 View Post

      Im not understanding... whats the deal with waiting on them to give a price...

      Do you want to sell it or not? its pretty much that simple....

      Yes I want to sell it, give them what you believe to be a reasonable price.

      You dont want to sell it... give them a I dont want to sell it price. ( an FU price )

      Kind of selling/pricing 101.. its a whole lot easier to lower your price, than it is to increase it... The BUYER is going to give you a price that is favorable to them - DUH

      And then the negations start... you can do what double the offer? and then settle for 1.5X the offer?

      YOU are the one selling the domain, and yet you are wanting to hand over all of the leverage of the negotiation?

      Watch some Pawn Star videos and watch how they take control of the pricing.

      You simply cant sell anything if you cant even give a price - stop with all the drama and just drop a price already.

      Solid as it gets.

      I did a search just now for Godaddy brokers and what stood out is that they broker deals for someone interested in a domain. So that broker could be following up on interest and he is working on behalf of that person...not you.


      But alot of people would still love to be in that position sitting on dusty domains for years.


      You could also put it up for auction/classifieds and get insights from that engagement.


      Side note....that term FU Money (I love it) I first heard it in a Gambling movie and also by M.J. DeMarco over at Fastlane. (forum)


      But it will always be relative.


      For someone flipping burgers FU Money could mean Not Flipping any more burgers.


      People with little yachts always want bigger yachts.


      I think whatever inspired that domain should also inspire you to come up with a few more and create a portfolio to present to investors. Just an option.
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    • Profile picture of the author tenaka
      Thanks for the reply. I was only asking if there was anyone with similar experience, there is no point in reinventing the wheel.
      I can of course just pull a figure out of the air, I was just trying to get some expert opinion.

      Thanks for feedback.
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      • Profile picture of the author savidge4
        Originally Posted by tenaka View Post

        Thanks for the reply. I was only asking if there was anyone with similar experience, there is no point in reinventing the wheel.
        I can of course just pull a figure out of the air, I was just trying to get some expert opinion.

        Thanks for feedback.
        The best you can do is use an online estimator to figure out the value... unless you happen to know someone that deals with this kind of stuff ( a broker ).

        but because you are saying the its just a URL with no history... the estimator X2 is a good starting number and the FU number is 2x or 3x of that.
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