The art of negotiation is a learning process and domain investors benefit from such knowledge, both for financial reasons and for the purpose of overall engagement.
In a recent transaction that took place via Sedo, I was able to acquire a domain name that BuyDomains had listed across several marketplaces.
I chose Sedo as it’s an established marketplace with well-defined processes of which I’ve been a member for 20 full years.
The negotiation with BuyDomains began with defining a budget first. Would I be able to acquire the domain at the full asking price, had my attempts failed? Absolutely.
Saving money is important, though.
My opening offer was undercutting their asking price by 35%. It’s fun to mention that if that same percentage were applied to one of my domains for sale, I would have kicked it out like a stubborn mule. My expectations on most fixed priced domains involve offers within 5% to 10% of the asking price and in this case I simply wanted to test the waters.
BuyDomains countered with a higher price, effectively discounting their initial asking price by 20% which I accepted.
After submitting payment it took a further 24 hours for the domain to be transferred out from their registrar, thus completing another successful acquisition via Sedo.
In the past I negotiated with BuyDomains directly and I think that the relevant anonymity that Sedo provides can ensure better deals via their marketplace; twenty percent in savings, in this case.
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