Hello everyone!
It was in July 2020 when I received an offer of $4,000 on BridgeMoney.com (acquired the domain in partnership with Jamie Zoch) which was then revised to $5,750 as the best and final offer. At that time the BIN was $12,888. I declined. A month later the buyer came up with $9,000. Again the offer was declined.
Fast forward to 1st April 2022, the buyer came up with $20,000 (with BIN at $50,000 this time). I said that I’ll be accepting very close to the BIN. The buyer came up to $26,000 and said it’s their max budget. Again their offer was politely declined. I gave a deadline during which the buyer didn’t make a reasonable offer to be accepted.
Then on 27th May 2022, Afternic broker was able to bring the buyer up to $41,000 but because I’ve revised the BIN to $100,000, I said to give them $50,000 as floor price and provide them with a 10 days deadline for accepting the offer. Otherwise I won’t be selling even at this price in the future.
And today I got the good news that the domain is sold for $50,000!
Many congrats and thanks to my Afternic rep, the broker and my long time friend and partner Jamie Zoch!
Feel free to give any feedback no matter how good or good it is 😉
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Congratulations to you and Jamie. Great sale.
Thank you Aamir bhai! 🙂
Congratulations… Abdul bro.. Great sale… Please keep sharing yours sales… Thank you
Shukriya Wajid bhai! Sure, I’ll do so whichever I find it worth sharing it.
Dear both. Congratulations. Love the strategy and great achievement.
Thanks Sheraz bhai for commenting and your feedback. Much appreciated!
Make sure you give 50% of the profit to Jamie!!
That’s how you do it .Well done Abdul. Always good to keep adjusting price.
Thanks for your feedback and I appreciate you commenting on it.
Bridgemoney is a company that operates on dot co. This is not a brandable domain. It is clearly playing on an existing company’s name. You are lucky you did not get a udrp instead.
Thanks for your feedback but I don’t agree with you.
Anyone can have a look and see. All the Google results for “bridge money” point to a single company: “bridge money” – Google Search It is not a generic term. So yes they could have made a udrp case that the registration targeted their brand. You got lucky.
I agree this would’ve been a problem previously, but domain hijacking via UDRP doesn’t work like it did years ago. They take more info into consideration now.
I suspect the thing that would prevent a successful UDRP is Bridge Money’s lack of a functional time machine. Or perhaps proving that Abdul had a functional machine time and was using it to target their domain in the past.
BridgeMoney.co registed in 2018. Abdul’s domain 2006.
Of course, there’s probably other attack vectors. Where do you see Abdul’s exposure here?
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Congratulations Abdulbasit… I have a question please? How do you recieve a huge amount of money like that? Do you use PayPal or Payoneer?
because I have sold a domain on Dan for $1988 and when I received the money on my PayPal, the account was suspended.
I have some domains listed for $10k+
I don’t know what’s the best payment method to use?
.
Hoping to reply to me with a full guide.
Thanks brother
Thanks Ahmd!
Afternic doesn’t sends to Payoneer. Usually I receive via wire or PayPal without any issues or limits.
You may want to contact PayPal and ask why they banned your account.
Thanks for your reply
Is your paypal account personal or business?
Also, about wire transfer,
Do you receive your money on local bank in your country?
Thanks in advance
Congratulations Abdulbasit on this sale and thanks for sharing your negotiation tactics. If I may ask, what made you kept increasing the BIN. From $12k to $100k within 3 years. Are there any underlying metrics that warranted this?
Thanks Dayo!
I don’t find it comfortable sharing it here.
So it sounds like there may be a little more to this negotiation? Perhaps some legal aspects?
UDRP can use the address of the registrar for jurisdiction purposes, which in this case is ultimately GoDaddy in America. In the US there’s use based trademark. You don’t have to explicitly register the trademark as you do elsewhere. You don’t have to do very much to show “use”, either. I think Abdul has the upper hand here. Especially since this an older domain, 2006. They could’ve tried using UDRP, failed, and then they would’ve been forced to buy it for an even higher price from Abdul. A losing game. Much easier to just buy it at reasonable cost from… Read more »
I’ve successfully defended UDRP on at least one occasion where the domain was acquired later and the TM was registered in the past. So only this aspect is not counted which I believe Scott thinks so.
Also Richard, the creation date of domain doesn’t qualify the actual date but the date since I acquired the domain is what’s counted in the UDRP proceedings. And I acquired it in 2019.
Thank you!
The domain was acquired after the other party operating under bridgemoney.co was already in existence. So yes the domain was in real threat to a udrp in this case. There is bridge financing and bridge loans, but “bridge money” is not a commonly used term. It has no meaning outside of the other company that was using “bridgemoney” as it’s company name and which had to cough up $50k to buy the domain. So you’re saying you didn’t identify the domain and target it because of the existence of bridgemoney.co, thinking they would pay up for an upgrade to dot… Read more »
Any domain can be under a threat because there are crazy potential complainants who goes after generic domains and also well established businesses.
Like I’ve said it earlier, I’ve successfully defended UDRP where I acquired the domain after the TM was filed by the complainant so this only factor doesn’t put the domain under 100% risk.
I’m not bound to explain my thought process behind buying and pricing the domain.
Also I don’t target any specific buyer(s) buying the domain.
Congratulations Abdul vai, always inspiring to see your sales.
Thank you Avijit bhai! Always appreciate your feedback and well wishes!
Congratulations Abdul Basit Bahi,
You are a Domain-genius!!!
Keep it up!
Congratulations AbdulBasit, great sale and Kudos to your determination on fixing the prices according to demand pulse.
Many thanks Haroon bhai for your feedback and well wishes!
Congratulatios Abdul, your sales are inspiring.
If the buyer had asked you to pay in installments, would you have accepted?
Thank you! 🙂
I’m always open to accept payment in installments but it depends on the terms and the price definitely goes up because it’s not paid in one-go.
Thank you for the post! They are always interesting and I have learned a lot from you about pricing.
Many thanks for commenting and your feedback. Much appreciated!
Best wishes! 🙂
interesting story. thanks for sharing Abdul and congrats!
Thank you Fatih! 🙂
Hello Abdul, how are you and your family keeping?
I hope all is well.
Nice sale on yet another domain and sharing for your readers to appreciate.
feedback from me will ‘always’ be good,
Nice to hear from you Abdul
Matt Morgan
Hi Matt!
Thanks for asking and commenting.
I apologize for the very late response as I missed your valuable comment this time.
Doing good here, thank you! I hope the same at your end as well 🙂
I appreciate your valuable feedback and commenting as always 🙂