Leaving Money On The TableMike Sullivan
A common discussion item I hear is that people fear selling a domain for too low of a price. In fact, that first sale that I made and discussed on a forum received some heat for the amount I sold it for because the buyer had a nondisclosure clause in the contract. Obviously because of the nondisclosure, I didn’t discuss the name of the domain or the buyer, just the fact made a sale and what it went for. Some people thought that because of that clause, the buyer must have perceived the value of the domain to be much higher than my asking price. That may or may not have been true. I was pleased with the amount I received and it was far greater than what I had purchased the name for. But that criticism had me wondering.
Looking back on that sale, I think the price was quite fair. It was a good name at a good price. I have gone into some sales discussions with a high number in mind, and ultimately lost the sale because of that. Will the same name sell in the future for what I was hoping? Who knows, that’s part of the risk. It maybe that you’re better off settling for a definite sale at a lower amount than holding off for the jackpot that might not come. Some of those names I would have been happy with much less and probably would have sold them if I had started at a more reasonable price. The reverse holds true as well, I have a few domains, even hand regs, that I am willing to hold onto for the long haul, until the right offer surfaces. I’d almost rather let them drop than let them go at less than my target. Long term, you’ll probably sell some names for less than they’re worth and some for more than they’re worth.
Bottom line is that the market decides the value of your domains, not you. As a seller, you need to ask yourself some serious questions and be at peace with your answers. It will cease to be enjoyable if you second guess your decisions. Take every day as a learning opportunity.