I was having a talk with a friend who mentioned he needed money. I asked him why he didn’t sell a few domains?
His reply was an interesting look at the psychology of selling. He told me that if he sold a name for $100 or $200 and the name resold for much more, he would lose it.
“I have owned these names for a long time and if I see a sale on DnJournal for $10,000, I will flip and it will get real ugly.”
I thought wow, I understand getting upset, I once dropped Acht.tv 8 in German.
I had owned a few numbers in different languages and sold some for xxx, to xx,xxx and this name never got any looks.
On top of that zero traffic. Now another .tv investor I know picked the name up and hand registered it. He got an offer for $2500 and another good friend John Van Den Berg handled the negotiation for him.
Since he was Dutch and it was a Dutch buyer he was able to get the price up to $10,000. In all honesty, I first said, I would have accepted the $2500 right away. So I did not miss out on a $10,000 sale. I know that my reply would have been sold.
Now Acht.tv meant little to me, but I do have names that I would not sell for a moderate price due to the fact I believe they are worth more.
Those names selling for five figures would make me a little more upset. But you have to have a mental plan for each name. I am reminded of the CamRoulette.com sale. I mentioned it to my friend, and he was like, “Yeah I don’t know how to express what my feelings and actions would have been, but they would have been scary.”
I tried to point out that the initial registrant did not have the contacts the new buyer had or the experience in domaining. He replied, “I could care less for $151,000 it would get ugly.”
I told him he needs a different approach, it would suck but you can’t get yourself depressed. I think everyone needs to think, “Great I sold xyz for $400 and if it resells for $5000 I can handle that.” If you can’t do not sell. Stick to your valuation belief and do not sell.
The flip side is that it takes a lot to turn down $5000 and then never get another offer on the name. There is a lot more to domaining than just registering domain names.
I think you have to have your price and never sway. Good read thanks.
To have a name sell for $151,000 that you sold for $1000 or roundabouts sucks. I would lose it too.
hey, namepros for no reason banned my account—can you please check why.
userid czardomains.
Oh well–never mind- I’ll just go to dnforum.
You have to detach from a domain. It’s the same when you walk away from a slot machine, and another wins $3 million. That’s hard to accept, especially when your quality of life can be improved.
The orginal owner of camroulette.com also made a mistake with turning down the first offer to accept $1400. The first buyer file a suit in NYC. I’m not sure sure how that turned out. He spent the money he made on the sale for a legal consultation. The first buyer file a $150,300 suit against him, minus the $700 offered for the domain.
You can’t think about missed sale opportunities or a DN Journal sighting. Every owner has a different advantage. They may have better contacts, or are just lucky. If I sold a domain for xxx and it resold for xxxx, I wouldn’t care much. You’ll find another deal later. I’ll sell a domain to survive. I don’t think twice about selling a dozen quality names for 7% of their value. You can make 1000% on another name. You never know.
Cool article. Thanks.
lucky.