tips Probably the simplest way to decide between BIN and Make Offer

[twiki]

Ask yourself: What suits this domain best, a straight buy now or a negotiation?

Some example cases:

- You have a high value domain, 5-fig+ = In most cases a negotiation is involved = Make Offer

- You have a mid 4-fig domain = Are there many potential buyers for it? if so, Make Offer. Find the best buyer as the MO filters them better. If it's a rather niche domain, fewer buyers I'd use BIN to make the process smooth /fast for the buyer. (Fast Transfer is a must also here).

- You have a low value domain, 3-fig etc = definitely BIN (I use Afternic NS5/NS6 for most domains). Your best strategy here is to use the right price for the domain, not the make offer... at least in my opinion.

Oh and a very important factor. How is your pricing positioned?

If you price full retail, both options can be used depending on case as shown above for example.

But if you price competitively - don't ever use Make Offer. It only creates more drag on what is already designed to be a fast BIN sale. This is a golden rule for me and key for my sales.

Today I split my domains in two tiers, investment and volume. For the investment tier (best names) I price full retail; instead for the volume tier I always price competitively, somewhat lower than market full retail price, like prices others use for more or less similar names (60..70% is a common position as I'm a discount domainer); and placing a BIN on top of that help a lot - as you have seen in my reported sales.

Important caveat: Please note that discounting is not for everyone; if you paid more than reg fee for your domains you might make losses if you mimic my discounting strategy. My domains are mostly bought at reg fee and hand regs in discount times so I do afford that low price but it's not everyone's situation.

Anyway, good luck there.

P.S. I know that there are lots of different cases and the above isn't applicable everywhere, just sharing how I'd make this decision.

 

[Yanosh]

It helps a lot, and the fact I’ve seen you posting many sales makes this even more valuable.

Thank you for the time you took to share with us !

 

[okaydomains]

Nice post @twiki, thanks.

Regarding this:

You have a high value domain, 5-fig+ = In most cases a negotiation is involved = Make Offer

I agree and want to add a tip I got from Jason Sheppard: for high value domains there's probably going to be a discussion between several people about purchasing it. So it's good to use round numbers to make that discussion simpler.

In other words, at that board meeting you want them to be able to say "we can buy this domain for $25k", instead of them constantly having to say e.g., "$24,988." It just makes for an easier discussion for them, which could work out for you by removing a little friction.

It's all speculation of course, but I do believe in charm pricing and found it to be good advice.

One more to add, that I picked up from Jen Sale / Evergreen.com - instead of "Make Offer" they usually say something like "pricing available upon proof of funds."

I think that leaves a really nice opportunity to research the buyer before naming a price. Of course that only works on premium domains - most people won't jump through those hoops.

 

[Bhanu Kiran]

Thanks For the post @twiki ,Really Helpful
Can i Know how many Domains you Own, You Seem to be pretty Consistent in Making sales as i see you reporting the sales here on the thread .

 

[twiki]

Thanks For the post @twiki ,Really Helpful
Can i Know how many Domains you Own, You Seem to be pretty Consistent in Making sales as i see you reporting the sales here on the thread .

I post about this as well in the sales thread.

Anyway, currently I own about 4300 domains but aiming to reduce to 2000 tops.

 

[Bhanu Kiran]

Anyway, currently I own about 4300 domains but aiming to reduce to 2000 tops.

Great !I hope to Increase my Portfolio size Steadily too. How do You manage so Many Domains ? You want to reduce your portfolio to 2000 , is it because of initial Domains purchased which dont Match the Quality you are purchasing Now ? Usually the more the Domains the more the Sales & sales frequency

 

[twiki]

Great !I hope to Increase my Portfolio size Steadily too. How do You manage so Many Domains ? You want to reduce your portfolio to 2000 , is it because of initial Domains purchased which dont Match the Quality you are purchasing Now ? Usually the more the Domains the more the Sales & sales frequency

I used to have a volume-based model, with an average of 10k+ and a max of 25K names. Lately I have switched to a quality-based model.

Can't properly manage too many domain names, it does consume a lot of time.

 

[bigdomainer]

Thanks for the tips!