Some domainers do at least a little bit of research (as in a few Google searches) on the end user who is inquiring about a domain before quoting a price, whereas others quote the same price whenever someone inquires.
Today, it’s time for some brainstorming, I want to see which category you guys fit in before writing a more detailed post:
Category #1: you conduct at least a bit of end user research before quoting a price
… or
Category #2: you always quote the same price
To further clarify things, let’s envision the following scenario:
You own an average domain, definitely not one of the best you have but not bad either.
Tomorrow, you are contacted by someone who introduces himself as the owner of a small “mom and pop”-type operation and says he wants to buy the domain. Five days from now, you’re contacted by someone who introduces himself as the CEO of a multi million dollar enterprise who wants to buy the name.
Do you treat these people differently or quote the same price?
In other words, would you quote a higher price when contacted by someone who seems like a deep-pocketed end user (the CEO, in our case) or do you simply have a price in mind for each domain and stick with it, no matter who the end user on the other end is?
October 18th, 2015 at 12:50 pm
Don’t know man, only poor college students looking to start personal blogs seem to contact me for mine. 😉
October 18th, 2015 at 3:53 pm
I treat them differently of course, regardless of how good or bad the site is name wise. This person obviously has more money, of course I would suggest a different price. Nothing too crazy,
October 18th, 2015 at 3:56 pm
Also the “mom and pop” line does not work on my usually, these so called mom and pop shops ( I have worked for several of them) are pulling a few million a year, Im sure they can afford it, usually of course. My previous machine shop boss would always tell how he owned a mom and pop machine shop, yet he just got a half a million dollar cnc machine from makino, “mom and pop” yeah right lol.
October 18th, 2015 at 4:26 pm
I always do my research on every enduser. I want to know as much as I can about them before I respond.
And yes, it can influence the price in many instances. The whole nature of the domain value is subjective. The domain’s is worth what it is worth to the enduser.
Just making up a name here:
GreenScapes.com
Enduser 1, is a one man local law care business
Enduser #2 is a fortune 500 green energy company.
For enduser #1 the value might max out at a couple hundred dollars.
For enduser #2 the value is could be hundreds of thousands.
A smart investor is always looking to maximize ROI by determining how much it is worth to the enduser. That is why I dont price my domains, all are listed as Make an Offer.
October 18th, 2015 at 7:52 pm
There is yoga gear, like pants, for men and women that cost $10 to make and sell under one brand name for $20 and second brand name for $120. Is that wrong?
October 18th, 2015 at 10:45 pm
Mainly in the “Category #2: you always quote the same price” camp.
The difficulty with no.1 in my view is are you going to research every single inquiry? The typical person inquiring has a $10 budget and it takes a lot of inquiries to equal one sale.