Archive for the ‘Domain Sales’ Category

60 days lock period of GoDaddy resulted in canceling the deal of my first hyphenated domain

60-days-lock-period-of-GoDaddy-resulted-in-canceling-the-deal-of-my-first-hyphenated-domainHello everyone,

I won’t blame GoDaddy for that and instead accept my mistake. Although this 60 days lock period is quite frustrating when the buyer asks for transfer out of GoDaddy. So today I would like to share one of the incident happened with me.

It was a .com hyphenated domain for which I contacted several companies and one of them asked the price. I responded back with US$2,000. Keep in mind that I don’t usually start by giving the price first but in this case I was in hurry to make the sale and asked for 2k which was fairly reasonable for a hyphenated domain. The buyer immediately accepted my offer and we initiated the process at Escrow.com with seller paying the fee completely.

The owner of the company asked me to wait until next couple of days as Director of IT will be in touch with me completing the transfer process. Once the payment was approved and I asked their GoDaddy customer# and email address.

The owner strictly said we don’t use GoDaddy as our primary registrar anymore and currently using Network Solutions. I tried to get the authorization code from GoDaddy but it was locked for transfer out and I was unable to retrieve the auth code until next one month. I informed them the situation and I received unfriendly message “We are recalling the money from Escrow.com and once the lock period is over you may contact us. Otherwise we are NOT interested.”

It was quite frustrating to see the funds going back and I was unable to do anything from my end. However, another bad news was yet to come which I wasn’t aware of. So once the lock period was off I contacted them again. This time they preferred to split the Escrow.com fees in half way between buyer and seller. I happily agreed because last time they paid full Escrow fee and deal was cancelled so they didn’t want to risk this time. I created the transaction once again with split fee but they didn’t responded even after Escrow sent them auto reminder. I contacted them to see if they need some more time to make payment.

Their reply wasn’t pleasing for me saying that after several discussions with our SEO consultants we’ve decided not to proceed with this domain name purchase. You may cancel the transaction at Escrow.com.

I admit it was my mistake not to check the status of domain at GoDaddy because recently I had brought the domain from another registrar. Lesson learned is never try to sell the domain if it’s locked and you are somehow unable to transfer to the desired registrar of domain buyer. Or you can at least inform the buyer that you will only be able to push this domain at same registrar (can give the exact reason anything you wish to). Make sure you inform them in the beginning so there won’t be any trouble like I faced in this deal which was at the end remained a sad story…

Have you faced anything like that before? Had any deal going out of your mouth ? 😀 Please share and don’t hesitate

I just sold another .net domain name for US$2,000

.net domain sale for US$2,000, sold .net domain name, another .net domain sale

If you check this week’s DnJournal sales chart you will see one more successful sale of .net domain (Amazonia dot net) for US$2,000. It wasn’t a big deal though but still good considering it was a .net domain.

The buyer contacted me directly. Must have got my ID through WHOIS. Their initial offer was US$150. I countered with 3k. Than came 1.5k offer and finally we agreed at 2k.

I strongly suggest those domain owners who simply reject and never respond to lowball offers. It’s always good to communicate with the potential buyer. You can also try to educate them if they have no idea about the current domain market. They may have budget so you should at least reply to their query once.

I know most of the time we don’t get response back after the initial email from the potential buyer so that’s different story. We guys also receive lot of spam and I am sure many of the domain owners can differentiate which is legitimate inquiry compare to the spam one.

Any one like to give feedback on my sale? Would you like to share your latest sales?

Sold first-last name domain for over US$5000

At the end of last year I sold first-last name domain to an end-user for US$5,165. The domain name was listed in DnJournal as well. Thanks to Ron Jackson for listing the domain.

I contacted the end-user and his initial email wasn’t so impressive. It seemed he wasn’t very much interested but asked for the price. I asked £3,200 equivalent to US$5,165 and told him that I have some flexibility so if he is really interested can contact me. Soon I received an email that he is not interested in negotiation and is willing to pay what I asked for!

It was really exciting and most importantly shocking that an end-user is not in the mood of negotiating the price and willing to pay what I wanted. The deal was completed very quickly and all was done in good manner.

I wish the buyer best of luck with the shorter domain they bought. Currently they operate with EmilyJanesFoods ((dot)) com

In my next post I will try to explain in detail whether you should invest in these first-last name domain because the possibilities are very limited as compare to selling product/service related domains.

In the meantime if you care to share any first-last name domain you have sold to date and how was your experience with it?

My first five figure domain sale was also not a .COM

.NET – It was a .net extension with an interesting story. BuyMobiles dot net was sold for US$20,000. Actually I had developed a mobile blog with affiliate banners everywhere. I started receiving emails from people claiming where are their gifts or when their mobile will be delivered. They even mentioned the URL buymobilephones dot net from where they placed order. I asked them several times to contact that company instead of me!

Later I realized it was due the fact of misunderstanding and I got an idea to get in touch with this company. It was the first time when I picked up the phone for selling a domain name to an end user and it was really fruitful and wonderful experience. After talking to the operator my message was passed to the concerned person. Within an hour the company’s director contacted with a question of my interest “How much money are you looking for?”

I admit it was my first big sale and I made few mistakes like instead of asking him to make an offer I just asked US$25,000 and he countered with US$5,000. The next mistake was to lower my asking price to US$20,000. Soon I got next offer of US$10,000. I politely rejected, and another came of US$15,000. With my second rejection he accepted my offer of US$20,000.

As this was my first big deal so I learned few things which I would like you guys not to repeat the same. First was to give out my asking price. I should have asked him… Secondly, I lowered my asking price from US$25,000 to US$20,000 in just second reply which wasn’t good at all. Although after completing the deal I thought I left too much money on table but that’s how we go through our exciting learning phases to gain experience.

Long story short, it was really good deal and I am very happy with it. This gave me lot of motivation and sparked my interest in domaining from there on…

It will be interesting to know your first five figure sale. If you care to share your domain or at least the price would be nice. Also I would like to know what do you think about my first five figure sale? Did I left any money on table? Any more suggestions to new domainers?

My first domain sale was not a .COM!

To start from scratch I would like to share my first domain sale with you. It was August 2009 when I sold Argentina (DOT) .cc for US$740. I actually bought the domain at reg fee in December 2008. Not a big number though but still a motivational sale for a newbie domainer that particular period of time. As stated in my earlier posts I was focusing mostly on .cc domains so definitely chances were more bright for selling a .cc domain as compare to a very few .com domains I owned.

As everyone knows the excitement of selling your first domain name who have sold at least one domain name.

In my next post I will share my first five figure sale which was a more exciting to me as compare to my first domain sale because of the high profit I got through that sale.

Feel free to share your first domain sale along with the purchase price and selling price.