news From $4,000 offer to a $50,000 sale

[AbdulBasit.com]

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

 

[AbdulBasit.com]

Out of a sense of curiousity, these are the valuation tools as of today:

GoDaddy estimated value $3840
Estibot $1500
Nameworth $2450

Aren't you glad you didn't use the automated online estimators to establish the selling price?!

I've never relied on any appraisal tools. I don't care what they appraise any domains at. It's just waste of time.

You may want to check this https://www.abdulbasit.com/domain-monetization/how-do-i-valuate-domains-and-set-an-asking-price

 

[DomainBarracksRob]

Strange domain name for such price, but congrats none the less. I think most people would have either never registered this or sold this for $xxx or $xxxx.

As the buyer I would have also taken the MoneyBridge Domain – sounds better in my opinion. Congratulation on the sale!

@william Your right "Most" people wouldn't, because most people not well versed in "DeFi" or Crypto for that matter.

"Bridge" is a Huge term in these 2 niches which work conjointly.


@Brandmore I see your point, but in this order 1bridge>2Money it's doing exactly what the term means to do, it is a call to action brandable of a term put to use.

Bridges - or a "Bridge" in web3/DeFi/Crypto lingo are are tools that allow the creation of synthetic derivatives that represent an asset from another blockchain tool.

Many platforms utilize bridges, all to cross the $cash/Digtal$ over from one chain to another.

Anyone invested in NFT's Crypto or working in blockchain knows and understand this to- Bridge- Money- is just that.

It's a GREAT name for the space, and he got a great price, I too would have aimed for this figure.

Congrats @AbdulBasit.com

 

[tiletalk]

Balls of steel nice

 

[Kassey Lee]

Congrats. Bridge Money Inc. at BridgeMoney .co has raised $6M.

https://www.linkedin.com/in/lalitjanak/

 

[pokainc]

Nice going! Shows the power of cash on hand.. 2 years ago, he would've payed around 25-26% of what he payed this year.

 

[TangoTango]

I'm going to go out on a limb and say the buyer is bridgemoney dot co. Nice sale.

 

[OmnipotentOne]

The more money you make, the easier it is to turn down offers. Most people would have taken 26k unless they are living comfy or already had another buyer willing to pay around 20k. Congrats.

 

[AbdulBasit.com]

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 three years. Are there any underlying metrics that informed your decision?

Thanks!
I don’t find it comfortable sharing it here.

 

[AbdulBasit.com]

Well done Abdul - great sale. Is that an upgrade for the .co or a new buyer?

Thank you John!
I'm not sure who the buyer is until the WHOIS or the domain is up and running.

 

[zomainhacks]

Wonderful domain and great price both for buyer and seller, congrats

 

[PurpleMan]

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 three years. Are there any underlying metrics that informed your decision?

 

[AbdulBasit.com]

@AbdulBasit.com Congrats!!!

It's great to see one of you sales stories again. Always a interesting read.

Curious, what's the ratio between your min offer and bin, did you have a min set with the 50K ? Or did you set your Min to same as BIN 50K?

Thank you so much!

As the amount in increases, the gap between the BIN and Minimum keeps increasing. So for 50K BIN, I set $19,888 as Minimum. But for all of my domains the BIN and Floor prices are always the same right from the start.

 

[AbdulBasit.com]

Congrats! Will this thing be my bread and butter? I wish it will be. So far I sold one below 1k.

Thanks!
I started my first sale within your range. It was just under 1K as well.

Good luck!

 

[Brandmore]

As the buyer I would have also taken the MoneyBridge Domain – sounds better in my opinion. Congratulation on the sale!

 

[johnsmith53]

Well done Abdul - great sale. Is that an upgrade for the .co or a new buyer?

 

[Sutruk]

Congrats @AbdulBasit.com for another great sale! You really know how to negotiate.

 

[Devanos]

Congratulations For your patience

 

[Idong]

Nice sale! Excellent negotiating skills

 

[Mytz.com]

Congratulations

 

[LoveCatchyDomains]

I've never relied on any appraisal tools. I don't care what they appraise any domains at. It's just waste of time.

You may want to check this https://www.abdulbasit.com/domain-monetization/how-do-i-valuate-domains-and-set-an-asking-price

That's the point. You know better, and that's why you're so successful. Congrats on a tremendous sale!

 

[buydomainnames]

Congrats... awesome sales !

 

[DomainBarracksRob]

@AbdulBasit.com Congrats!!!

It's great to see one of you sales stories again. Always a interesting read.

Curious, what's the ratio between your min offer and bin, did you have a min set with the 50K ? Or did you set your Min to same as BIN 50K?

 

[Denismth]

Congrats! Will this thing be my bread and butter? I wish it will be. So far I sold one below 1k.

 

[william]

Strange domain name for such price, but congrats none the less. I think most people would have either never registered this or sold this for $xxx or $xxxx.