Comments on: Gazundering hits the domain market

By: Mrrbob

Mrrbob — Sat, 20 Sep 2008 20:24:07 +0000

If some one ever tries gazundering on me they will be instantly introduced to a new term, gazovering.

My price will instantly jump up over the agreed upon price in an amount equal to their gazundering lowball offer. Example: original price 10,000 gazundering offer 9,500 – new gazovering counter offer 10,500. Further more I will stick to the new price with them under any and all circumstances refusing to back off and accept the original agreed upon price. See how you like that mr. gazunderer.

By: Michael

Michael — Mon, 19 May 2008 20:42:42 +0000

gazundering.. that’s catchy :p

By: Carlton

Carlton — Sun, 11 May 2008 01:29:57 +0000

My response to “Domain gazundering” is: What is wrong with people?

This practice requires someone to be a complete dishonest, a**hole. No integrity. I’ve always disliked that old cliche “It’s just business”. I think we know what that really means. Makes you question how many people have a moral conscience, or maybe more importantly, how many don’t.

Someone who would commit this “Domain gazundering” would be willing to commit any number of crimes … if they felt they could get away with it. It’s technically close to extortion of a sort.

By: Damir

Damir — Thu, 08 May 2008 07:01:59 +0000

The term “gazundering” is defined as “the practice of demanding a reduction in price to secure the sale of a property. This is usually done during contract negotiation. – you got me there – Great response to the Post

By: Kelly Lieberman

Kelly Lieberman — Thu, 08 May 2008 00:16:36 +0000

I see your point. I guess it would depend on the value of the domain.. For example, if Sedo required a deposit of $x,xxx on any domain in it’s auction that the bidding was anticipated to go above $xxx,xxx – like Pizza.com – they could hold the deposit in escrow, for the seller, in the event the sale went South.
Maybe it would keep the riff-raff out of the auction..

By: Acro

Acro — Wed, 07 May 2008 14:56:48 +0000

Kelly, thank you for your post. An experienced “gazunderer” – if that’s a valid word – strikes in the timeframe before any such legal paperwork changes hands. In other words, in order for the seller to obtain an earnest deposit, a contract of some sort should be agreed upon and signed. But you just gave me some ideas about future deals

By: Kelly Lieberman

Kelly Lieberman — Wed, 07 May 2008 14:24:14 +0000

In commercial real estate they call it an “earnest deposit”. The amount and terms are usually set by the seller depending on the length of time to close and the sales price.
I see no reason why you couldn’t get a check up front, held in escrow,from any serious buyer. That way, if they try to change the sales price, you walk with the earnest deposit…Make sure that stipulation is in the initial paperwork.
These days you need the necessary “prenup” in place on all deals in advance. Very few people operate like a lot of our father’s did…