Remember to Occassionally Update Your “Buy It Now” Prices At 3rd Party Sellers

Aug 24 2011

Companies like Sedo and Godaddy are pushing Buy it Now pricing.  They have proof that shows their customers are more likely to buy a name that has a buy it now price.  If you’ve decided to put some of your domains up using BIN pricing, then you need to remember to make sure that every so often you check to make sure you’re still willing to sell at that price.

You’d hate to have a name that references some hot news story or is similar to a domain that sells at a high price and still have the price you set a year ago.  I recently talked to a domainer that got picked off at Godaddy after he set his prices on the low side and had someone jump in and get a few names at a bargain prices.  Once it happens, there isn’t anything you can do about it unless you want to never be able to sell on that platform again. When you set the price it’s official until you change it.

I recently purchased a name that was listed at BIN and got it for a VERY good price (not from the guy above :)).  It easily could have been sold at five times the amount if another end user such as myself had visited the domain’s page.  For the average domain investor it would probably not have even drawn any attention but when I told other people in my industry what I paid,  they couldn’t believe it.  Looking at the domain’s history, the owner most likely hand registered the domain and was probably happy with what he received if he didn’t recheck his searches.  He used the method that many people use, putting the BIN price at approximately 1/3 to 1/4 of the estibot price.  What he didn’t look at was the increase in searches over the last year.  Something that I haven’t found a site to do for me so I have to manually do it for many of my domains.  If I see a sudden jump in searches since my last monthly check I dig a little deeper to see why.  He would have seen that the number of searches for this term doubled from 2K to 4K  in the last 6 months. Again, not a huge number at 4K but certainly meaningful.

So while everyone is happy to sell a domain you may want to make sure you keep your price that reflects its true value.  Doing so will keep you from getting picked off by the person that’s paying attention. S

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Outsmarting the Dumb, Outworking the Smart

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  1. Poor Uncle

    If he jack up the price you may not be interested. This way he has some money in his pocket and you have the name you wanted. Win-win. Never be afraid to leave some money on the table as long as you made money too. You will sleep better at night and make more money in the long run.

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