Namepros member DrewWash posted he sold a domain for a 300% profit and considered it a failure. I think he did well, he could have done a bit better but nothing like a failure.
He wrote:
Opened my email this afternoon to news that an ACH payment has been made on one of my domains. My initial thought was that it was a scam and I deleted the email.
Scrolling a little further down I see an email from SEDO reporting that sold one of my domains at the Buy Now price.
I was a little excited, but also confused. Only a small handful of our domains have a Buy Now price.
Scrolling down I see the domain OurSong.com.
- Sold for $6800
- Price paid $1850 in ~ 2012
I understand that some might consider this a victory. It was not. It was a failure.
I would have never accepted an offer for $6800 on OurSong.com.
I value OurSong.com at around $22,000. Estibot appraises it around $74,000.
It turns out that one night, likely after having a couple drinks, I decided to set some Buy Now prices on domains in hopes of liquidating a few of them. A horrible mistake.
While selling domains was a great idea at that point, selling OurSong.com no longer made sense. The needs of our business changed.
After logging into SEDO to provide the Auth Code I promptly took a look at my Buy Now prices and deleted them or increased them.
Ultimately a Buy Now price is set at a point in time. But the need and desire of my business had changed.
Advice check your Buy Now Prices and see if you think it is correct.
$6800 might be a little low for oursong but it isn’t necessarily worth $22K either.
I think that’s a very fair price for that domain.
Fair price, you should be happy.
Fair price, perhaps, however, that one will sting for a long, long time for the buyer.
OurSong.com is well worth multiples of $6800
I have lost a couple names by setting very low BIN’s
A positive, for me, is to acknowledge the acumen of the buyer/s.
Savvy, hardworking opportunists.
Condolences for the perceived loss of a domain worth more that was gotten for it!
Hats off to the buyer for knowing a good deal and acting swiftly to capitalize.
win – win ? certainly
teachable moment ? certainly
Ooops,
Fair price, perhaps, however, that one will sting for a long, long time for the seller
my bad.
Just a typical domainer,me included. WE pray to sell than regret. As a domainer you can take that money and replace that domain pretty easily.
I can relate. I sold domains for less than I thought they were worth due to having to cover renewals. oursong is nice but i don’t see the end user base for it.
It’s a failure.But i think we all learn from our mistakes.For this reason and the fact that you never know the buyers standing point, I always would like to know your offer.So we negotiate forth and back.Sorry but this domain is in the 5-8 figures.Better luck next time.
Who hasn’t heard the expression They’re playing our song. I think the seller is right and gives good advice to check BIN prices regularly.
“Estibot appraises it around $74,000”
Usually I’m pointing out Estibot’s insanely low “appraisals.”
Nothing like contemplating $48,000 for crypto.com (https : // ibb .co/eOEgsx) vs. $74,000 for oursong.com.
You just can’t make this stuff up.
I’ve sold domains for probably more than they were worth and some for less than they’re worth.
A recipe for failure: seller’s or buyer’s remorse
Move on is my philosophy.
The people who get the highest value for their domains generally are folks who don’t even need the sale. They’re already financially set for life, so they can hold out for ultra high prices.
ROI isn’t the issue and the Estibot appraisal, of course, shouldn’t be taken seriously. The important things in pricing a domain are the likelihood of getting a higher price in the future, how long in the future, and whether the seller thinks he will need the money before then or can invest it in something which will provide a greater return. Another factor is whether the seller has done outreach, contacting identifiable potentially-interested parties.