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?

 

[kemjika11]

"Just because he has money and doesn't want to spend it on a domain"
^^^ that's kind of irrelevant....the issue is that his offer for this asset is wayyyy too unrealistically low. No one asked this blockhead CEO to pay even $10k. He offered reg fee and any tom dick and harry in any country can pay $10 so that's not the point. Main issue is his mental complex he suffers from that makes him unable to appreciate this domain for even close to a dignified value. #lamelamelameendusers.

 

[equity78]

This thread has got a lot of legs to it over 50 posts. Here is my take, first we are all operating in the dark here, you have every right not to post it but we don't know the domain we are talking about.

It is one thing if you are getting $10 for a pronounceable CVCV.com or a great two word .com. If it is a very long tail name that happens to touch upon his industry it might not be worth much.

Every domainer without knowing the human being they are talking about has to throw out the CEO or RICH spiel. That does not matter, I personally know people worth a lot of money that feel domaining is the dirtiest business online. You are going to run into people like that, every one holds different businesses and professions in a different light.

There are plenty of people out there, wealth or stature aside, that feel domain names should be $10, that anyone paying more is a sucker.

Plus when a name is not truly a quality name, it is easy to find $10 alternatives. I own names that are for me, for ideas or projects, they hold no great resale value, when I get an offer I know the person is not going to offer much, certainly not anything worthwhile so no need to get pumped up about a possible sale.

I own the name Bazinga.TV, I did not pick it up to sell, I like the The Big Bang Theory and Bazinga is taken in so many extensions, when it dropped I picked it up.

I got an offer from a French company, easy to research, they had a section on their site titled "Bazinga" So I reply back to the offer to see where they are, I don't price names outrageously, and these guys were like "Oh wow, I mean we could possibly struggle to pay you $200, but that is a real stretch" They wanted the name for reg fee, I told them I really didn't want to sell unless it was going to be something worthwhile.

I get fans of the TV show make offers all the time, they are from $10 to $25. I don't get upset by that I know that a fan is not going to pay $3,000 for the domain.

This person is either screwing with you and yes some people love to do that, or they are someone that feels all domains should cost $10 to $20. I would just move on, you said you are new, wait til you get better domains and you get 20 emails a week offering you $100 for a CVCV.com. Good luck.

 

[Jen-Sin]

This person is either screwing with you and yes some people love to do that, or they are someone that feels all domains should cost $10 to $20. I would just move on, you said you are new, wait til you get better domains and you get 20 emails a week offering you $100 for a CVCV.com. Good luck.

@equity78, how I wish I can get some inquires like that for a start. Haha.

@webdomainhub, whether the inquirer is a million dollar company CEO or not is not important regardless the initial offer. What's more important is how you are going to negotiate with him, knowing he is a CEO of a million dollar company.

Else, just ignore his inquiry if you are offended / insulted.

All the best to your sales and keep us updated.

 

[webdomainhub]

Having said what I have to, I am not bitter, angry, spiteful nor discouraged. What I just wanted to point out was that the offer does not commensurate with his status nor the domain's value. He may have thought that it is worth only reg. Fees but I am not holding a grudge against him. He has all the right to even offer below reg. Fees and that it is his right. I am sure there are other buyers willing to pay more. As for the domain name, all I can say is that it is similar to something like power tool. Not sure if anyone wants to try and offer the owner of this domain $10 if it is up for sale.
So I agree with equity78 that this person may fall into one of the 2 categories that he mentioned or perhaps one more. The category of buyers whereby he is interested and he will belittle or put down your domain first to see if you panic and then sell it to him on the cheap.

The initial purpose of this thread was to just voice out my surprise and nothing else. Thanks for all the inputs and if I stepped on any toes along the way, I do apologise. After all I am here to learn not make enemies. Peace.

 

[jideofor]

Someone already pointed out that it's a mind game which to me it is really. It doesn't matter if they offer $5 or even $1.

The most important thing here is that they made an offer which is a indication that they have interest. It's still better than no offer.

You make noise about value of the name and how what is offered doesn't reflect the true value of the name... If that's the case, may I know how many offers you have had on the domain name since you acquired it? If this is the only one, doesn't it leave you wonder what the TRUE worth of the name is?

Either way, I have read that people turn $50-100 offers to solid $5000 sales.

So I would advice you counter with say $10,000. After all it's a mind game.

There was post I made less than 2 weeks ago wherein someone offered $5000 and then contacted my friend with a diffrernt email restart engotiation.... My friend played along only for them to offer $800

 

[webdomainhub]

Someone already pointed out that it's a mind game which to me it is really. It doesn't matter if they offer $5 or even $1.

You make noise about value of the name and how what is offered doesn't reflect the true value of the name... If that's the case, may I know how many offers you have had on the domain name since you acquired it? If this is the only one, doesn't it leave you wonder what the TRUE worth of the name is?

Did I make noise about the value of the domain? I did not. I expressed surprise. What he offered was definitely time wasting for both of us and normally a person in a reasonably high position does not like to waste time to negotiate a deal this way and so I was surprise and bemused at the same time. Just like Shane mentioned earlier in the thread...

" I've had multimillion dollar companies not even ask how much I was asking for their business name (generic keyword combinations) in .com.
I find myself cofuzzled by endusers all the time."

and that's exactly how I felt, that is all to it. Anyway, the offer was made and I declined politely and moved on.

As for your question of whether I have other offers for this domain, yes I have and the starting offer price is definitely much more reasonable.

 

[john_karr]

Got an offer this week from a company in Mexico. $3,000 for my Spanish generic domain name. I politely decline.

 

[Branded Domains]

haha I think the CEO is on holiday forgot to add some 0's after $10

 

[DU]

Got an offer this week from a company in Mexico. $3,000 for my Spanish generic domain name. I politely decline.

My local barista offered to put extra frothing on my coffee this morning. I politely declined.