After I’ve added many of my top LLLL.com domains to sedo I keep getting large number of annoying lowball offers.
Seriously people, if you’re going to lowball at least don’t send funny offers of 75 and 175 euro for domains that are worth at least low-mid 4 figures. Offer $500 or something, you might even find someone who doesn’t know the real value and buy.
But with low offers like that no one would even reply because you’re clearly not serious. By being too gready you just lose many potential deals.
Don’t get me wrong, I’m a domainer, I lowball all the time time too, but not like that. This is just ridiculous and here is why. There may be one person in 10000 inquires who’d sell his $2K worth domain for $100, but then there are hundreds who would take $500 for it. In both cases your profit is similar: $1900 and and $1500. But instead of wasting time searching for that one “sucker”, why not get many other good deals instead and potentially much bigger profit by spending less time..
I’m proud to say I lowball all the time. As a seller, I’ll admit that it’s terribly frustrating, annoying, and even insulting in some cases. However, potential buyers are always looking for good opportunities. If a non-domainer listed a name on Sedo without knowing its value and a buyer snaps it up cheap, good for him.
Negotiate either way. You never know — there could be a true buyer amongst your lowballers.
wait isn’t 175 euro the same thing as 500 bucks.. lol
Lowballing is just part of the game. It really shouldn’t frustrate you. Just be happy that you own real estate that continues to accelerate at a record pace even in a recession.
lowball offers – at lest you know that your domain names listed for sale are getting visitors.
Patience is a virtue which I know you have.
Why not just set a minimum offer of $500 if you are annoyed by/ignore anything below that?
Put a higher reserve.
I stopped all spam increasing reserves.
Thanks for the comments and suggestions everyone.
Well I didn’t want to set min offer because that would make people think that’s the price I’m looking for and may prevent other interested buyers from offering much more. Although I may be wrong here..
I believe, the minimum offer you can set isn’t shown to the bidder unless they make an offer below that. Therefore it doesn’t put buyers off but should stop the really low ball offers coming through.
Then you have the opposite end of the spectrum, someone that owns a domain, a domain that has no real value and the guy has owned it for 10 years obviously without selling it, and then you make an offer of $75 which it is probably worth $25 and he comes back with a ridiculous $5,000! That is frustrating to me. And all it does, is take someone like myself away from the situation, you can always find another business name and move on. But that guy that is greedy will probably be stuck with that domain for another ten years.
To people that are smart, they will just pick a different name and move on. Being smart in business is also knowing the true value of what you have and taking advantage of opportunities when they present themselves, or cutting your losses.