An interesting glitch at Dan.com locks down the BIN price

Dan.com provides several options to domain investors, including selling with a BIN price, making an offer, and lease to own options.

In the past few months I’ve completed 3 LTO deals successfully, which means that three entrepreneurs are now using these domains under full ownership. Dan has been instrumental in creating a niche market for such domain sales that give the opportunity to start-ups and entrepreneurs to roll out brands immediately, paying off the domain cost in installments.

That being said, I recently came across what I would describe as a glitch that locks down the BIN price. Consider this scenario:

A buyer makes an offer for a domain that is priced at $5,000 dollars. Let’s say they offer $1,000 dollars and you decline that offer, countering with $4,000. Obviously, you can’t counter with $6,000 dollars as the domain’s BIN is priced lower.

The glitch comes into play when, for example, the buyer becomes unresponsive and you wish to revoke the counter-offer. After revoking your counter-offer, the exchange remains locked to the BIN price.

So what if you now want to change the BIN price for the domain, for whatever reason? Nope, that particular negotiation is not updated and you cannot re-engage with a counter higher than the former BIN price.

Dan.com support confirmed my findings and took notes about my recommendation for a “reset” when a counter-offer revocation occurs after an initial offer is declined. Unlike what was happening with Uniregistry offers, the buyer can still go back via the domain’s lander and submit a new offer, that will observe the updated BIN; they just can’t do that in the existing negotiation window.

Once again, many thanks to the customer support at Dan.com and to Mauli Fry in particular, who’s had a long career with Escrow.com in the past.