JustaGringo
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Need advice please. This is a bit complicated.
Received an offer for 15k from GoDaddy broker for a domain I already had listed at Sedo with a 25k buy it now.
The GoDaddy representative knows I had a listing on Sedo for 25k. I forgot I had auctions at sedo. I since removed them.
I turned down the initial offer. I did not counter offer. I promptly received a reply from the broker stating we just have to come to a price. I've not done anything since and am trying to figure out my next move, if any.
It's a 4 letter .com for which there are many companies with the same 4 letter abbreviations. I think the GoDaddy client is a large overseas client who in 2016 trademarked the four letters in the US as one of their product brand names. Luckily, I owned the dot com long before then, and it's super generic. If it's who I think it is, their product has exploded in popularity in the past 24 months.
So the GoDaddy offer right out of the gate was 15k. That is kind of telling to me that the end client is serious and has funds. The last time I worked with a GoDaddy domain broker the initial offer (for a brandable two word domain) was 1/7th the final agreed upon price. In other words, I sold it for 7x their first offer.
Why the actual customer/buyer didn't just do the buy it now over at Sedo when they had the chance I don't know. My guess is that the end customer is unaware of the various marketplaces for domains and went straight to GoDaddy. Or maybe they really wanted to get it for less than 25k, but higher than 15k? That makes no sense. Or they want to keep the acquisition off the books? I dunno.
So you think the the buyers budget is far greater than the 15k original offer? I kind of do.
I won't part with it for anything less than 25k. I don't care if the sale falls through. The broker is going to want to close a deal so they get a commission, even if that means it goes over the 25k I had listed on Sedo I would think.
So I am thinking of either not countering at all or asking 6x their initial, say 90k.
Thoughts? Nuts right? Wish I knew how GoDaddy brokers are compensation. They must have a reverse-payout grid or something. Where they get a larger commission if the price is kept lower.
Thanks
Don
Received an offer for 15k from GoDaddy broker for a domain I already had listed at Sedo with a 25k buy it now.
The GoDaddy representative knows I had a listing on Sedo for 25k. I forgot I had auctions at sedo. I since removed them.
I turned down the initial offer. I did not counter offer. I promptly received a reply from the broker stating we just have to come to a price. I've not done anything since and am trying to figure out my next move, if any.
It's a 4 letter .com for which there are many companies with the same 4 letter abbreviations. I think the GoDaddy client is a large overseas client who in 2016 trademarked the four letters in the US as one of their product brand names. Luckily, I owned the dot com long before then, and it's super generic. If it's who I think it is, their product has exploded in popularity in the past 24 months.
So the GoDaddy offer right out of the gate was 15k. That is kind of telling to me that the end client is serious and has funds. The last time I worked with a GoDaddy domain broker the initial offer (for a brandable two word domain) was 1/7th the final agreed upon price. In other words, I sold it for 7x their first offer.
Why the actual customer/buyer didn't just do the buy it now over at Sedo when they had the chance I don't know. My guess is that the end customer is unaware of the various marketplaces for domains and went straight to GoDaddy. Or maybe they really wanted to get it for less than 25k, but higher than 15k? That makes no sense. Or they want to keep the acquisition off the books? I dunno.
So you think the the buyers budget is far greater than the 15k original offer? I kind of do.
I won't part with it for anything less than 25k. I don't care if the sale falls through. The broker is going to want to close a deal so they get a commission, even if that means it goes over the 25k I had listed on Sedo I would think.
So I am thinking of either not countering at all or asking 6x their initial, say 90k.
Thoughts? Nuts right? Wish I knew how GoDaddy brokers are compensation. They must have a reverse-payout grid or something. Where they get a larger commission if the price is kept lower.
Thanks
Don