Archive for the ‘Personal’ Category

Sold my first domain through InternetTraffic.com aka DomainNameSales.com

Posted by AbdulBasit Makrani on April 1st, 2013

Sold-my-first-domain-through-InternetTraffic.com-aka-DomainNameSales.comI have been parking my domains with InternetTraffic aka DomainNameSales.com for few months and received many inquiries but none of them was tempted enough to sell or the potential buyers didn’t even bother to present their offer once I asked them to make it. I have tested several other parking companies and found IT/DNS the best so far in terms of PPC and getting domain inquiries more frequently than at some other places.

In the first week of January 2013 I received an offer on one my domain with starting offer of US$500 and they explained their purpose of buying and who they are. It didn’t took much time for me to analyze and counter offer with US$6,000. Next day the person informed me price is too high and they could max US$1,000. I politely informed we cannot proceed further. After several back and forth emails of US$1,250/US$1,400/US$1,750. I simply told them not to waste my time. Although this conversation was with one of the employee of that company who were interested in buying my domain. I just told him instead of wasting my time please present your best and final offer and I will simply accept or reject it. He offered US$2,000 and I rejected. I offered US$5,000 as my final offer and stated it’s valid for next 7 days only but they didn’t bother to respond and I decided they need to suffer for that and I will stay strong on my offer if they come next time.

Fast forward to March 2013, I got an offer of 3k and I knew it’s the same company trying to buy but with different name and email ID. My counter was again 6k. And once again similar pattern of offers got started with US$3,750/US$4,250 but with no success.

A couple of days later the CEO of company contacted me and started with straightaway US$5,000 but I wanted more than 6k this time but he just wanted to wrap up quickly and was serious enough so I let this domain go for US$6,000. Once again I will say US$6,000. I got extra US$1,000 just because they didn’t accepted my offer of US$5,000 on time.

Oh yeah, and the domain was Semios.com

As mentioned in my previous post where the buyer was unable to make payment on time and I cancelled the deal. At that time I really needed the money and after cancelling that deal I got this sale happen successfully. Although I was having conversations with this company for the last 2 months.

It was the first time I asked for more money once the buyer didn’t take it seriously and responded on time. And luckily I got what I wanted.

So what do you think of this sale and had any similar experience?

Posted in Domaining, Domain Sales, Personal 10 Comments »
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Previous domain owner wants to take me in court!

Posted by AbdulBasit Makrani on March 18th, 2013

Previous-domain-owner-wants-to-take-me-in-courtYou will find this quite interesting and funny. As many of us buy domains through auctions and recently I acquired a .net which I thought was good for reselling purpose and got for mid 3 figures. After acquiring it for 40-50 days I was contacted by the previous owner of the domain asking me to transfer back domain to him as there was some problem with the company he registered the domain. I wasn’t sure what he was actually referring to because of the broken non-English language.

He even said in his initial message that he will be taking me to court if I don’t transfer the domain back to him. It’s a generic term and there is no trademark with that keyword. It’s a short brandable word which must not have any trouble but isn’t he trying to scare me 😉

I have recently parked that domain with InternetTraffic and he came through by clicking the sales link and even tells me that how come you are trying to sell my domain. Well, I think I need to get his permission before I put the domain for sale 😉

I haven’t respond him yet and doesn’t need to do at least for now. It’s my first experience with a person wants to take me in court if I don’t transfer the domain to him in timely manner.

Keep reading and bookmark this blog as many more interesting stuff coming all the time 🙂

Have you experienced anything like that? Care to share your story?

Posted in Domaining, Domain Investing, Personal Tags: , , , 9 Comments »
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60 days lock period of GoDaddy resulted in canceling the deal of my first hyphenated domain

Posted by AbdulBasit Makrani on March 10th, 2013

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

Posted in Domaining, Domain Sales, Personal Tags: , , 9 Comments »
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Domain investor prefers to drop his domains instead of selling me privately!

Posted by AbdulBasit Makrani on February 19th, 2013

Domain-investor-prefers-to-drop-his-domains-instead-of-selling-me-privatelyThis is really interesting and somewhat shocking to me. I inquired about a domain name which I saw was owned by a domain investor who owns hundreds of decent domain names and that particular domain was recently expired. The domain owner said he has realized that buying domain names solely for the purpose of selling them at higher price no longer makes him feel good. This is the reason he has started dropping many of his domains and scaling down the portfolio and even lowered asking price as well for the remaining names under his portfolio.

He even said that it doesn’t feel good to sell domains to an investor. He actually wants the name to be dropped for general public to register it at normal prices. It’s quite amazing that a domain investor who owns hundreds of quality domains have no idea that a decent domain dropping will straightaway be caught by SnapNames/NameJet who will auction the name and most of the time it will go in the hands of domain reseller.

I even tried to explain him once again about the above scenario that the domains will go into auction house and won’t be available for general public to hand register domains and I got the following reply:

“But I still prefer to drop the domains since that increases the chance of them becoming available to the public.”

Although he was kind enough in explaining everything and was nice to communicate with him. He even offered me reseller price for some of my domains which I politely rejected.

I wonder if any one of you have ever encountered similar situation with any domain investors? Any comments are welcome, no matter how bad or good 😉

Posted in Domaining, Personal Tags: , , , No Comments »
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Thanks to the seller who renewed domain before pushing in my account!

Posted by AbdulBasit Makrani on February 6th, 2013

Thanks-to-the-seller-who-renewed-domain-before-pushing-in-my-accountI won’t disclose for which domain I am talking about but you will still find interesting reading out.

I recently purchased a domain which was already renewed till mid of 2013. I always prefer to have the domain at GoDaddy but the seller wanted to push at the same registrar (which wasn’t GoDaddy). Once the payment was approved by Escrow.com, the buyer initiated the push under my account but it was really shocking to see the expiration date of the domain was 2015!

Once the domain was secured by me, I immediately sent message to the seller and asked why he was humble enough to renew the domain for not only 1 year but a couple of years. I never got any response from him so far. Although the deal has been completed few months back.

He wasn’t very friendly while exchanging emails. I was actually trying to acquire that domain for more than 1 year and he responded only 2-3 times and I sent him around 15 emails. Although he agreed to the price which was very much reasonable; no doubt about that. But I still wonder why he renewed the domain for 2 years before pushing to my account. The domain wasn’t transferred to another registrar from which I can assume of 1 year extension. It was simply a push to another account at same registrar. So it’s for sure the seller renewed the domain. I would give a big thanks to the seller who not only renewed the domain for couple of years without my permission 😉 but also sold the domain at reasonable price.

Have you experienced like this before? Any big heart seller you like this faced in the past 😉 ? I would love to hear your experiences.

Posted in Domaining, Domain Investing, Personal Tags: , , 1 Comment »
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