Slow Sales This Month? (1.Viewing)
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rlm
Bonfire.ca
HelloCanada
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I haven't noticed much difference. And I finally posted a significant number of domains onto GoDaddy auctions last month, but didn't have time to individually price them, so I set them at over US$5000, and I already had 2 sales.
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So your minimum offer was $5K at GD?
I was actually thinking of doing something similar (setting them all to min at $2-$3K) as I've found that once you give potential buyers a firm "price expectation" it a) rules out the lowballers and hobos and b) gives the buyer better expectation on what the price will be - i.e. no surprises.
I did something similar in January-February using a tiny sample of domains and I ended up selling 2 of them for some nice cash. I had no time to extend this test any further, but I may get back to it at the end of April and let it run through May and June.
HelloCanada
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No, that's the weird thing, my minimum offer was only $99 lol
But the people just went ahead and bought them for over $5k.
This has actually made me not sure how to price the domains though... I don't want to scare off most buyers, but getting these sales is also nice.
From what I read at NP though, it sounds like prices around $2500 to 3000 give the best mix of sales volume x domain price.
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Every time I've either raised the minimum price or added a pile of high BINs + offer, I have made more sales and more money, while dealing with fewer lowballers.
I am starting to be a firm believer in the "set buyer expectations" camp.
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rlm
Bonfire.ca
lol, no, the randomness of sales will always have its ups and downs, no matter who you are. payment plans help smooth out the cash flow curve, and size/quality of portfolio obviously helps, pricing is of course a factor too, im sure i could sell more if i lowered prices, but i try hard to not fall into that trap just because it’s been a slow month or two. i’ve lost many deals bickering over the last 10 or 20%, sometimes i feel i should have just accepted but you can’t always just give in either because that’s leaving money on the table too. Always keep cash on hand for renewals and unexpected purchase opportunities for the slow times. that’s what has worked for me.
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How I feel every morning having to deal with lowballers...
Oh don't worry about that, as I have plenty of money to buy domains and renewals, It's more my mood, and that the "fun factor" of playing the domain game is virtually gone right now and with a very slow month+ it's quickly turned into a slog through the quicksand.
I hope things turn around soon or I might need a break - just renew everything for a month and do something else.
Oh don't worry about that, as I have plenty of money to buy domains and renewals, It's more my mood, and that the "fun factor" of playing the domain game is virtually gone right now and with a very slow month+ it's quickly turned into a slog through the quicksand.
I hope things turn around soon or I might need a break - just renew everything for a month and do something else.
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rlm
Bonfire.ca
How I feel every morning having to deal with lowballers...
Oh don't worry about that, as I have plenty of money to buy domains and renewals, It's more my mood, and that the "fun factor" of playing the domain game is virtually gone right now and with a very slow month+ it's quickly turned into a slog through the quicksand.
I hope things turn around soon or I might need a break - just renew everything for a month and do something else.
You can't go wrong with finding something else to do - as they say, variety is the spice of life.
Maybe try to eliminate dealing with the tire kickers, start setting bins and/or min offers?
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That's my plan for May, specifically raising the minimum bid.
The only reason you "deal with lowballers" is because a few of them turn out to be "real buyers" - but when all you get is lowballers then it's a sorry state of existence. I have also recently lost several sales (at $3K-$5K with one $7.5K outlier) to deadbeats and that can be very tiring.
Over the last 30+ days, my Dan dashboard is filled with $300 min bids and lots of these:
I also think the non-billionaire Canadian economy is far worse than we've been told, and that these gov't strikes aren't doing any good - it's all the Bay Street Boys can talk about, so it's definitely on their mind.
'Costs could be staggering': How businesses, Bay Street are reacting to the PSAC strike
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domains
DomainMedia.ca
A sign of the times... I think a lot of businesses and individuals are having to be careful with their cash, which is needed to cover increasing costs and interest payments that were much lower a year ago. Going from 0% interest rates to 5% interest rates in less than a year is a big swing. Loans and credit lines are usually the BOC rate +++ added on top. Variable mortgage rates, fuggedaboutit.
rlm
Bonfire.ca
It really just depends on the business. Every day tire kickers are cheap year round, good times or bad. Real businesses will often accept your offer so quick you regret not asking more. It just happened to me today and I thought I was already shooting high for a pretty mediocre domain. But when they want it, they want it. And that goes back to my theory that any real business should be happy to drop $5K or more (especially if offered a payment plan), on their brand/domain name. If not, they're not really much of a business, they've got a hobby. So don't sell short, when times are slow, that's when you shoot higher, not lower.
Eby
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Me eyeing a sale this month:
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BAM!
MaiTaiMan
NameNinja.com
I'm hearing from quite a few domainers (owners of .com domains, not just .ca) who have been experiencing a slow sales year so far. The brokers I have spoken to have also said that business is slower than normal, which is my experience as well. There are still sales happening, including big ticket deals, thankfully, but it has been a sluggish year so far for the aftermarket. I am optimistic things will bounce back or upwards in Q3-Q4, but who knows?
Everyone is shocked at grocery prices and cutting back, it will take time for the inflationary shock to pass.
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