4/23/15

You want how much for racecargraphics.com? Hahaha.

Whether it's the spammy solicitation emails I receive from fellow domainers (I know, I'm guilty of spamming others) or the ridiculous tweets I get, I constantly see people ask the most ludicrous prices for their crappy domain names.  This is the Rookie Domainer, so I'm clearly no expert, but you want how much for that name that you've been sitting on for 12 years that no has (or ever will) buy from you?  I had a good laugh earlier this month related to some ridiculous domain pricing that I thought I'd share.  The story starts three years ago in which I had flipped some car wrap type names and the buyer was interested in more.  I did some recon into other potential names and discovered racecargraphics.com available for sale.  Not a great name, but at the right price I could make a little money on it.  On April 20, 2012 I contacted DomainNameSales, the broker for the domain, and inquired on the price.  The buyer wanted $3k.  That was preposterous and I politely declined.

Fast forward to earlier this month and I receive an email from Andrew, Senior Domain Broker at DomainNameSales:
You had previously inquired on racecargraphics.com. Are you still interested?

My immediate reply:
Not for $3k.

Andrew:
What is your offer?

Me:
$99?

Andrew:
The seller and I just spoke. There is no way we can make a deal.
We are very far apart (A lot of money). 
I thought about it, and you should really consider registering another website name at our partner registrar Uniregistry.com. 
These are only ten dollars, but will grow in value like this one.

I nearly blew a gasket reading this snarky reply from Andrew, Senior Domain Broker at DomainNameSales so I let it rip:
Let me point out a few things to you:
1. You emailed me and asked if I was still interested in the name, following up with me from when I expressed interest 3 years ago.  Apparently this name isn't as hot as you or the seller think it is.
2. I told you I'm not paying $3k, you asked me to make an offer.  I did and I did so low b/c from 3 years ago I realize the seller has extremely unrealistic expectations on the price.  Especially since they have been sitting on it for 3 years and you are following up with me, an extremely flimsy lead from 3 years ago.
3. I made offer, the appropriate response in negotiation is counteroffer.  I'll gladly entertain one, if I could receive a legitimate realistic one.  Let me point out that if it exceeds 3 digits, that is neither legit nor real.
4.Seriously? Educating me on how to register a name.  That's quite condescending and disrespectful.  I'll have you know, I actually do register several domain names each month, ones much better than racecargraphics.com and I sell them in 2-3 months' time for $500-$1k each.  This name would not garner much more than that, if that.
5. Lastly, if you believe $3k is a legitimate valuation of this name, prove it.  Show me the monetization and traffic stats.
I look forward to your reasonable counteroffer or your follow up email in 3 years when the seller realizes the real value of this domain.
Thanks!

I hadn't expected Andrew to reply but he did:
Domains are priced in a number of ways - These can range from how memorable the domain is, how easy it is to spell or the length of the name.  The most important factor is demand for the domain.  Demand can be determined by the number of inquiries on a regular basis or how this particular name represents the industry it falls into.
In this case racecargraphics.com falls into many of these categories.  Because of this, the seller would expect a price around $16,000.00 USD.

They must be free pouring the Big Black Dick Rum in the Grand Cayman HQ of DomainNameSales for Andrew to suggest racecargraphics.com represents several of these categories.  Highly sought after?  You're chasing me down after 3 years?  Memorable?  How many people ever utter the words "race car graphics" in their lives, let alone search for it online?  Represents the industry?  A quick google of the term "race car graphics" identifies less than a handful of businesses that actual use that same phrase and that's my ultimate target market.  Of course, a reply was warranted so on April 2nd I replied:
You know today is April 2nd right?  April Fool's Day was yesterday. Haha.  Hit me up in 3 years again.  $3k to $16k in 3 years?!?! Haha.  This will make for a great blog post.  Thanks!  Talk to you again in 3 years.

Andrew, if you're reading this, I would like to thank you for bringing some much needed laughter into my life those few days we corresponded and for providing me content for my blog.  It has been awhile since I felt such joy in writing here about domaining, for that, I sincerely thank you.  Also, I openly and honestly admit to being a Rookie Domainer, so perhaps I just need some further education from you on how to properly register and price a domain - feel free to educate myself and the readers on those issues down below in the comments.

$3k to $16k in 3 years for racecargraphics.com?!?!?! Hahaha!!!!

 
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