Expressing one’s interest in a domain name is a combination of timing, price and knowing basic negotiation tactics.
Those who own valuable domain assets aren’t too happy when lowball offers arrive, but establishing a valid interest by making a respectable offer is always a good start.
If the domain in question is marked with a “buy it now” price (BIN), there is always room for negotiation, as long as this is not the only asset on sale by the same party.
Domain owners with large inventories in the thousands, typically consider offers that are less than, yet close to their asking price.
A close offer, between 10% and 20% off their asking price, is the sweet spot that leads many domain sellers to come to an agreement. Any further discount requests make the seller “stiffen up” and opt to wait for the next offer that comes along.
Things get complicated when the domain is being offered on several venues, managed by third party brokers. In this case, I have found that an offer should be made at the marketplace that is known for wrapping up a negotiation and sale more efficiently.
Recently, I made an offer for a domain owned by a large portfolio holder; my offer was essentially blocked and discounted by the domain broker speaking on behalf of the seller. However, I let them know that my offer was to be followed by prompt payment, should they agree to the price.
Unfortunately, the broker failed to get back to me with any further responses, and two weeks passed by. Upon checking the domain again yesterday, I found it had dropped to my asking range and it was available at another venue as well. Needless to say, I went with the “other guys” and closed the deal very quickly.
Unless it’s a truly hot potato of a domain, negotiating versus going for the BIN can get you a good deal, thus saving you money that you can allocate to other domains or for developing your project.
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