DomainHoldings.com has brokered the sale of the domain name Bluestar.com
Hobi Michalec wrote a post giving a lot of details about the sale, how it was negotiated and the different price points that were offered by two different companies along the way.
What makes the story particularly interesting is that the Seller wound up selling the domain for $10,000 less, to the 2nd highest bidder, as they were unhappy about the way the highest bidder conducted himself, who at the end offered the asking price of $100,000.
The buyer of the domain is not mentioned in the blog post but I immediately thought of Blue Star Jets. Hobi told me he reached out to them, but they had no interest.
It’s a very interesting read and you can check out the whole post here.
Bluestar.com had an Estibot.com value of $93,000
Congrats to the Seller, Buyer and Hobi.
Very interesting story, and the broker did a great job creating demand for a domain brand with its target market. However, I do think when negotiating, trying to create urgency on the buyers’ side is somewhat understandable. Just watch SharkTank. When the Sharks want a business, they’ll make an offer with the condition, ‘But you have to tell me right now!”. Knowing there will be others interested in making an offer more than likely, and attempting to secure the deal before the competition steps in. Can’t really blame them.
But the broker and the seller were strong, and got a higher price closer to their asking price, so kudos. Well done. In real estate deals it also sometimes happens that sellers will make a decision based upon emotional reasons, but had not heard of it in the domain biz. Its ALWAYS good to build a good rapport in any business transaction. Much more likely to close a sale that way.
I immediately thought of the movie Wall Street and BlueStar Airlines.
I know of a ford car dealership named Bluestar
Blue Horseshoe loves Anacott Steel
I love that movie!! I think I’m going to pull up that blast from the past and watch it tonight.
What a great sale! It goes to show you even though the amount of money you sell it for is very important you also have to have a good understanding with the buyer and a smooth interaction during the negotiation process.
I am sure the seller felt very happy selling it to the right buyer in his eyes and of course the buyer in a way got a discount and got the the domain at the price he wanted to pay for it.
It will be interesting to see how the site develops and ends up being used for.
– Will
I really enjoyed the story as it reflects my own experience with aggressive buyers as well as respectful people with good intentions. It is a convenient luxury when one doesn’t have to sell. When a prospective buyer evidences business integrity and the right tone, and openness – important ingredients are present for working things out.
Frank Schilling, in a recent interview, alluded to the “power of no” in negotiations. Sometimes buyers come in low, self-entitled, and with unreasonable expectations, so the power of no serves an important purpose.
10K is a lot of money. I would have been happier if the deal was sealed for 100K.
Interesting, when a buyer is aggressive or takes a certain tone that is looked down on yet the highest sales reports for domainers usually involve a seller (domainer) who takes an aggressive and cut and dry tone. Have your cake and eat it too…hhhmmm
More important than tone is money, $100k was the winner regardless of their tone or tactic. After all it was just a tactic nothing personal, business.
That phrase “After all it was just a tactic nothing personal, business.” is more times than not a justification for screwing someone over in a business dealing.
Tone and how someone handles themselves in a negotiation tells you something about that person’s trustworthiness. Some people are decent and honest, and some are wolf in sheep’s clothing. It makes a difference to know who you are really dealing with.
You make a valid point about the large difference in the dollar amount. But the eventual buyer made it happen (even at a lower price point) by being more forthcoming, approachable. The other buyer sent out many negative signals and lost out because, in this instance, they were unwilling to act in a trustworthy manner. Another old expression: “A bird in the hand is worth two in the bush.”
Maybe it’s just me but I refuse to take things personal in negotiation, I am a big boy and understand people act differently when trying to obtain because again, nothing personal. No one wakes up and goes “I don’t like the face on that broker who is handling BLANK.com, when I try and buy it I will play hard ball and get the best price because it’s personal”.
I know plenty of people who will gladly screw you over with a smile. In fact I prefer the jerk approaching me because at least I know where they stand.
Bottom line, someone’s feelings got hurt, seller got $10k less and highest offer missed out. Considering the name sold for $90k any ways its hard to say the seller missed out, hey did do quite well regardless.
I agree with this “Josh” character.. very wise words from a mysterious man.
Blue is the new Black.
I had a recent sale (private) to a public telecom company, and I see a few nice “Blue__.com” recent transactions.
Negotiations with domains can be tense, as valuations have more art than science, at least for brandable domains. 2 letter, 3 NNN domains (unfortunately I own none) provide clearer valuations/market demands.
Kudos to the brokers, and congrats to the seller/buyer.