Names.ca - Buy it for 1 million - TUTORIAL (1.Viewing)

Names.ca - You can buy it for 1 million USD - TUTORIAL





So I saw names.ca available at godaddy with a minimum bid of $1000, I thought ok I will place the bid and see what happens. I know from experience that sometimes I will get a response for 10k or so on a one word .ca and in some cases I have even dickered it down to 5k or less. Since the auctions are incognito I have done this on numerous occasions.


A number of days later (5 Days) I received a counter offer for 1,000,000.00 USD


I went back and checked the godaddy auction and the minimum bid was now increased to $650,000 USD and on godaddy the selling price was set to $1,000,000


In this case the owner of the domain has a great domain and it is his prerogative to set the price at anything he/she sees fit.


What would I have done different?


I would not have changed my prices on godaddy after an inquiry, I simply would not have responded to the offer because it was for sure under valued. I would have waited for personal contact from the client because my domains point at pages with my contact info.

If the client was really interested (and not a tire kicker) they would have engaged me and then I would have started the process by asking them to fill out my contact form to start the negotiation process. I technically would not have gotten into the pricing details until I had an idea who I was dealing with.


So a different approach by two different domainers for sure but neither one can be said to be right or wrong, just different approaches.

Now lets talk about the value of names.ca

This is strictly my opinion and is not meant to say the person selling the domain is wrong.


Where would I price the domain?


Well one of the things I use as a base for my decision is in how many industries can I use the domain.
Is it able to be used in commerce for a number of purposes?

So a domain like Red.ca I would for sure be asking a million and holding it until somebody saw the value.
Can the same be said for names.ca? - yes of course it can.


However...

Personally I would not be pricing it that high unless I had a direct end user hit, ie maybe a successful domain reseller.
That is why knowing the end user is important.

That said names.ca has limited end user value in .ca, it's not like the .com where an end user (reseller) can ask millions for good names. The end users are limited to a small amount of uses for this domain so I would be open to selling it for less and I would personally have set the price at about 250k.

Again, this is all strictly my opinion, and what I would personally have done, but I think even at 250k I would have limited end users for the domain so my price would be set accordingly.

You can see an example of this for my domain gamer.ca where the end user is definitely limited and I am asking for offers over 25k. https://dn.ca/topic/379/gamer

gamer.ca is not like red.ca because gamer.ca is set for one industry.

Now there are exceptions, if my end user is a massive gaming company I would definitely say... yup starting bid is 25k but asking price is 250k. It keeps my options open depending on who I am dealing with and does not scare away an end user.


So how was your day?

Indeed it is a great name and would be a great name to own, I don’t see it as a million dollar name either. Could this be another rare example where the plural holds more value than the singular?

With a name like names.ca, I find it interesting that the URL doesn’t resolve. I believe some entrepreneurs think of a name they want and type it in. When a name doesn’t resolve, it’s very possible that they give up on it or do not know how to inquire.

The owner is obviously still active so not having some sort of contact page up is strange.