CEO of a million dollar company low ball offer

[webdomainhub]

I just received a low ball offer of $10 from the CEO of a million dollar company for a 2 word category defining keyword domain. Normally I would not expect this type of offer to come from a CEO but I guess it does. The previous low offer was for $50 for a geo+product domain and it was justified cause it is only probably worth that much and coming from the owner of a small computer outfit but $10 from a CEO of a million dollar company? Anyway I declined him politely and the door for any further offer from him is still open. Anyone else can share some similar experiences?

 

[webdomainhub]

"A Million Dollar company" is considered a "small business"... in Africa.

It's actually at the lower end of the category.

Think about that.

Regardless, where he is from. the $$ offer does not commensurate with the domain's value nor his business standing.

 

[domix]

Make a counter-offer of double of what you would accept. It should bring him back to reality.

 

[JamesCrew]

I wouldn't say its solid but more like a prank to me...

Trust me mate, this guy knows how to start 'negotiating' a domain he see 'valuable' but doesn't want to let the seller know about it.

Just my thoughts of course, or like you said, it can be a prank.

 

[webdomainhub]

Or say he forgot the 'K' lol

Yes, maybe I should say deal close at 10k... lol...

Just make sure it's no some friend of yours who faked the sender's email address

No so far the communication is done thru Linkedin private mail and that's what baffles me...

You reach the no reply part of the deal. Don't write back, just ignore

Yup, done that and did not reply back to the latest offer...

I would just reply in a professional manner:
"Sorry but we are too far apart to make a deal happen. Have a good day"
That still leaves the door open for the future, in case they get more reasonable. Time is money.

Done that with the first $10 offer...

i got such kind of email allt he time spmmer's do it to get clicks rate.i bet when you got the message the URL muct be tiny form. just ignore thei skind of email.

No, its thru Linkedin...

Don't even answer his/her future emails unless it contains an acceptable offer,not even to say thank you. He knows where you are. First one to talk loses.

Noted... thks...

Looking at the behaviour, expect to see the next offer at low xxx, they know the game and will not offer you 4 figures straight out.

Shall wait and see...

You know, people just never proof read things anymore before hitting the send button.

You should have replied and politely pointed out that his keyboard seems to be sticking as the three (four???) additional zero's that he typed after the "10" did not actually appear in the email you received.

Maybe I should do that...lol...

 

[cocaseco]

What size his company is or how much money he has is irrelevant to the negotiations. He knows it and he likely knows exactly what hes doing. He has an obligation to investors, if not employees to be judicious with every dollar he spends.

 

[DU]

A billionaire does not walk into a BMW dealership and say ...nice 3 series... I'll give you a million for it.

A millionaire does not walk into a supermarket and pay $100 for a gallon of milk.

A ... I won't go on.

 

[ramkumaritrvs]

Simply Ignore his reply until make solid offer or write, Time = Money, so don't waste both our money :P

 

[DU]

I would just reply in a professional manner:
"Sorry but we are too far apart to make a deal happen. Have a good day"
That still leaves the door open for the future, in case they get more reasonable. Time is money.

Your response should have no impact on whether the door is open or not.

I rather thing long winded creative answers are rather more fun and you know what? The door's still open!

I'm sorry but I recently came into a large sum of money from a Nigerian ambassador that I inherited from a family member that I didn't even know I had! That transaction should complete in about 4 weeks so I'm not, therefore, inclined to sell at the moment because money is not to tight to mention. Sure, I'm going to be rich, so money isn't an issue but unfortunately my "partner" hasn't been lucky so is still holding out for something that will help feed his children. It's sad, his children think Spaghettios are high class italian!

Anyway, don't let the door hit your ass on the way out! If you change your mind you should know that I plan to be cruising the islands on my new found wealth in 5 weeks so there's that.

Signed
WWD

 

[webdomainhub]

What size his company is or how much money he has is irrelevant to the negotiations. He knows it and he likely knows exactly what hes doing. He has an obligation to investors, if not employees to be judicious with every dollar he spends.

Agree but at least be realistic and sound legitimate...

A billionaire does not walk into a BMW dealership and say ...nice 3 series... I'll give you a million for it.

A millionaire does not walk into a supermarket and pay $100 for a gallon of milk.

A ... I won't go on.

Agree but then again the same billionaire won't go into a BMW dealership and offers $100 to "start negotiations" to buy the car...

Anyone can start negotiations to buy anything with any amount they deem fit but why try when you know it is not a realistic proportionate figure to begin...

 

[ResoluteDomains]

I respond with what price I am looking for, inform that he may make a counter offer and if it piques my interest then we'll talk further. If not, then best wishes in his endeavors. And thats it. Assuming this is a legit inquiry, you have what he wants - get him to play by your rules on your field. Its worth saying it again, you have what he wants.

 

[DU]

Agree but then again the same billionaire won't go into a BMW dealership and offers $100 to "start negotiations" to buy the car...

Change BMW dealership to ...... "email address associated with a name registered for $2 earlier in the year" .. if it makes you feel happier

Or....

If a billionaire walks into your hood you shouldn't expect him to give you $50 K for your car because he can afford it.

 

[webdomainhub]

Change BMW dealership to ...... "email address associated with a name registered for $2 earlier in the year" .. if it makes you feel happier

I am quite new to domaining... Can he actually know that I bought it for $2.00 from my email associated with it?

 

[gilescoley]

And he just add a dollar more to his earlier offer...lol... now I know he is toying with me... Wonder why he has so much time on his hands to even bother...

A few things to consider here? It seems a bit of a joke if a CEO is really doing this, thats why I ask..

Is the inquiry coming from his business email address?...or did he say he was from ????? company
Does he mention his full name in the emails?
Has he stated he is the CEO or have you researched his name to find that out?
Does he use a business signature on his emails?
Are you 100% sure its the CEO of the company? Could be someone messing you around?

I am quite new to domaining... Can he actually know that I bought it for $2.00 from my email associated withit?

No he cant, unless you reported the sale somewhere.

 

[webdomainhub]

A few things to consider here? It seems a bit of a joke if a CEO is really doing this, thats why I ask..

Is the inquiry coming from his business email address?...or did he say he was from ????? company
Does he mention his full name in the emails?
Has he stated he is the CEO or have you researched his name to find that out?
Does he use a business signature on his emails?
Are you 100% sure its the CEO of the company? Could be someone messing you around?

Actually the conversations is through LInkedin Business PM so its legit. And he is really the CEO as I have confirmed it with various sources.

It was not reported anywhere but from a previous post, I was made to understand that this is possible. I am confused as I am new to this...

 

[gilescoley]

If he really is who he says he is, just name your price and wait for his answer

If he really is that unsure of domain prices, just quote a few similar sales from nambio.com

It also depends what you say by "million dollar company"? Some companies make $2 mil profit, others make $900 mil profit?

A lot of things to consider when naming your price?

Check the company figures on Bloomberg, yahoo finance etc
Are there other similar names they could get cheaper?
What other names do they own? They might have a replacement ready and waiting if they cant get it cheap?

Feel free to PM me if I can help? I have some tools to get info for you?

Good luck with the sale?

 

[wot]

If the CEO could turn every $2 in to $11 in a relatively short time I guess?Then his little company would be a huge company.

What ROI are you looking for?

 

[Domainace]

To me, a $10 offer says, "You dirty squatter. I'll give you reg fee and not a penny more."
I take it as an intended insult and don't respond.

 

[wot]

To me, a $10 offer says, "You dirty squatter. I'll give you reg fee and not a penny more."
I take it as an intended insult and don't respond.

My previous post was to put it in perspective but personally I would be in "piss off" mode.

 

[webdomainhub]

I believe he was interested in the domain cos he started off by belittling my domain first saying that a couple he owns is better etc... If he is not interested he will not bother... But then again he thought that by belittling the domain, I will panic and he could get it on the cheap. Actually my asking price is in line with comparable sales and I could have let it go even if was lower but reasonable.

But the category is a good category so there will be other buyers. In the meantime, I will make a website around it and get it ranked. In fact if I run an online store on it, I can probably get some sales too.

 

[JamesCrew]

I believe he was interested in the domain cos he started off by belittling my domain first saying that a couple he owns is better etc... If he is not interested he will not bother... But then again he thought that by belittling the domain, I will panic and he could get it on the cheap. Actually my asking price is in line with comparable sales and I could have let it go even if was lower but reasonable.

But the category is a good category so there will be other buyers. In the meantime, I will make a website around it and get it ranked. In fact if I run an online store on it, I can probably get some sales too.

Looks like you have made up your mind and found an answer t your question. That's great.

Setting up a site would pressurize him and if he's serious about acquiring the domain, he WILL BE BACK.

Either way, good luck mate.

 

[kemjika11]

Try and make a sale out of this! All other issues are irrelevant. Do your best to make a sale..if you cant you move on.

 

[webdomainhub]

Try and make a sale out of this! All other issues are irrelevant. Do your best to make a sale..if you cant you move on.

Will do. Thanks for the advice and encouragement.

 

[GoKaizen]

Offer $10 for the company.

 

[baseballworld]

I just received a low ball offer of $10 from the CEO of a million dollar company for a 2 word category defining keyword domain. Normally I would not expect this type of offer to come from a CEO but I guess it does. The previous low offer was for $50 for a geo+product domain and it was justified cause it is only probably worth that much and coming from the owner of a small computer outfit but $10 from a CEO of a million dollar company? Anyway I declined him politely and the door for any further offer from him is still open. Anyone else can share some similar experiences?

Just because he has money does not mean he wants to blow it on a non tangible item. lol

 

[Banezer]

@webdomainhub
Keep us updated.
Thanks