I was approached by a gentleman who appears to be whom I’d describe as a “super executive“: a person spanning 25 years taking corporations off the ground and into successful orbit.
I’m always keeping both feet on the ground, until their offer arrives in the form of numbers.
Their “reasonable offer” was a big fat round $1,000.
They also sent a lengthy explanation why they feel entitled to this generic .com, as they apparently decided to put up a web site to match their company name, which consists of the keyword plus another word.
Upon my explanation why the generic isn’t for sale at that price, they seemed to be stumped.
Sometimes, I wonder if successful individuals aren’t really willing to part with cash, in order to invest into something that isn’t measured at the stock exchange or the commodities market.
It must be a shock for someone who envisions a replication of their successful path, to realize that domain names have value and can be sold for thousands of dollars.
The shock was mutually absorbed by a DNS domain broker, who did an excellent job explaining why the sale requires considerably more cash from the buyer’s side.
If they change their mind, I would be pleasantly surprised, considering that their full company name is still unregistered as a .com!
Hmm… It seems he has a peasant mentality.
It is a waiting game, I have dealt with many of these situations, thanks to linkedin, telling me this is all the money they have, or not responding for months, eventually the circle comes back around, and they do pay. I basically let them know that it will cost me $70 to maintain this asset for a decade, and majority of the time, that fact hits home pretty quick.
Alex – Harsh name but very befitting 😀
Ron – That’s a great approach, perhaps I should send our guy a short memo 😀
You would think “Capital” related domains would do really well. But I have found the same thing you are talking about. These smart business guys just won’t cough up the dough for a good domain. Even if their company is “XYZ Capital”, they rather go with XYZ-Capital with a dash, or use a .biz domain. I find it very ironic that companies who claim to manage $1 billion in assets won’t pay $5,000 for a great domain name!
Recently I received a low $XXX offer for a technology-related brandable .COM domain from a true end user. I believe I have a very fair price high $XXX. The potential client responded they weren’t willing to pay that price. So I responded with a comparison to their annual revenue. I’m skeptical I will convince them but business often does not value branding power.