No money, no honey!
During the past two weeks I’ve had an onslaught of offers on Sedo.
While some sales came to fruition after negotiation and/or public auction, the majority were of the same kind: lowball offers.
I spoke to my account manager about possibly introducing a system where offer-makers are identifiable, the way sellers are.
The method would allow serial lowballers to be blocked by individual sellers from making further offers; first, for a set period of time and then – if necessary – for good.
I don’t set minimum prices for the domains that I list on Sedo and the reason is simple.
Many times I’ve seen an initial offer of e.g. $100 jump into the $x,xxx territory once negotiations – and non-standard messages – get rolling. A higher minimum price can be a roadblock, even if it’s in the low hundreds. That’s because a minimum asking price is only a selling threshold and not a selling point, but those two are often misunderstood by potential buyers.
The truth is, a lot of end-users offer the least amount of money, if they can get away with it.
The exception, perhaps, was when I sold a three letter .com via Sedo last year. The $xx,xxx selling price had a $9,999 minimum offer set.
Still, it’d be great to pass the message along to the time-wasting lowballers: without offering money, you don’t get the domain honey.
