Welcome to the fourth post in our Behind the Sale series on the Efty blog. In this series, I talk with domain name investors who share all the details behind a recent sale. You will learn how they bought low and sold high, how the negotiations went down and much more.
Today, I am chatting with Asad Ali a part-time domain name investor from Pakistan.
Asad, how did you got started in the industry?
In 2012, I wanted to register a domain name for my personal website, but I quickly realized that all good domain names were already registered. I would search for available domains at Godaddy and when they were taken I visit the website to see what was there. I found that many domain names were for sale for thousands of dollars. It seemed interesting to me, so I searched for more information about buying and selling domain names on Google and landed on Namepros.com which is a great source of information for domainers. I invest mostly in .com and I have a portfolio of about 100 domains so far. Most of the domains I own are brandables.
What is the domain name that you’ve sold?
How much did you pay for the domain and how much did it sell for?
I purchased this domain in July 2014 for $32 at Godaddy Auctions. Back then, it was much easier to acquire good domains for affordable prices than it is today. The domain sold for $1,000 in March 2017.
Can you share how the negotiations for this domain name went down?
In January, I received an offer of $150 which I countered with $2,888, but they did not reply. When I followed up telling them that I was willing to drop the price a bit, they said they were not interested anymore.
In February, I received another inquiry from the same person but from a different email address. This time their initial offer was $550, I countered with the same asking price $2,888. After few email exchanges, their final offer was $1,000. I agreed to their final offer but it took another month until the sale was finalized. We closed the transaction through Payoneer Escrow.
Thanks for sharing Asad, is there anyone else you like to add?
I may have undersold the domain, but sometimes, you have to keep the sales in flow plus there is a good chance that you establish a long term working relationship with your client. This particular buyer was very thankful to me, as I walked him through the whole process from creating an account at Payoneer to accepting the domain at his registrar. He is still in contact telling me about his plans for the domain and asking my opinion about his new website.
Do you have a noticeable domain name sale that you would like to share? Drop me an email at [email protected] as I would love to hear from you!
Disclaimer: Efty does not have access to user’s sales data. We, therefore only share information on sales that have been publicly reported. Read our full governance here.