question What exactly is minimum bid?

[WhoaDomain.com]

About to take the plunge for the first time in an aftermarket domain. It's has a minimum bid of $3000. Does that mean this could escalate into a full scale negotiation of which thee end result could skyrocket the price?

I suspect whoever owns this domain wanted to keep the visible number down. But kept it as minimum bid to give him thee option to jack up the price.

Anyone with any experience with these minimum bids situations? How did you handle it? And did you get the domain in thee end?

Is it a good idea to contact them and offer them less and explain to them that doing this deal outside of a godaddy or sedo or flippa will save them in commissions to these outfits.

Already sent a starting offer of $1500 to start with no reply yet in two days.am I going to need to submit the full minimum offer since they are not replying back?

$1500 isn't too bad a starting point. Is it offensive? @$3000 the commission or VIG would be about $600 to "the house". So my planned max offer would be $2400 a most. Plus $100 to cover the cost of escrow.com.

I have a hunch about this domain. It has been dropped once but was regged for over 10 years.

Any tips NP GURUS?

 

[biggie]

Hi

if the minimum bid is $3K, then why not respect that amount?

but on the other hand, why not send an email, with $2400 BIN offer, including escrow fee?

i'd consider that a reasonable alternative.

Good Luck!

imo....

 

[N-A]

if the minimum bid is $3K, then why not respect that amount?

I think you're forced to respect that in many places as any number below $3000 would be rejected automatically.

but on the other hand, why not send an email, with $2400 BIN offer, including escrow fee?

This is a fair point. There are many out there willing to work with you. If you feel lucky, why not start with an opening offer of $1800-2200 and save yourself some more? More than likely, it'll be accepted and that's more money in your pocket.

 

[WhoaDomain.com]

I think you're forced to respect that in many places as any number below $3000 would be rejected automatically.

This is a fair point. There are many out there willing to work with you. If you feel lucky, why not start with an opening offer of $1800-2200 and save yourself some more? More than likely, it'll be accepted and that's more money in your pocket.

wow I got a reply from the great David Walker! cool! Thanks David. That's exactly what I did.