invite offers or put a BIN?

[SecNam]

been speaking to a few acorn members past few week and want to get a scope of what is best todo in the sales threads. Do you put invite offers and see what comes in low ball or put a BIN and risk putting a too high price and getting nothing.

Would be interested in peoples views.

[domainseller200]

IMO as this is a domain trader site, I always prefer for sellers to put a BIN but "open to offers" in the same thread.

I have been put off asking about numerous names from various people in the past as they just say "offers"

If a particular name is worth £100 to me but the seller wants £1000 for it, then it saves beating around the bush and we both know where we stand from the start.

Obviously I can see the other side of the coin, whereby the domain seller personally values the name at say £500 but suggests "open to offers" as they may gte a higher price than the £500 if they didn't state the BIN.

It is swings and roundabouts though, and from a selling point of view, I have sold more names by telling people the BIN, as opposed to just saying "open to offers"

Put this into the real world. If I drove past a car in the street, which had a "for sale" sign and it said "open to offers" I would for 95% certain not bother to ring the person as we could be on totally different waves lengths.

However if the same car was parked and it said "£8000 ono" then I know before contacting them the price expectaion of the car, so therefore if it was within my budget, I would contact the seller of the car to talk further.

Just my opinion of course, I do know what it is like on the other side of the coin also.

[accelerator]

Speaking as a buyer, I think stating a BIN and then saying "open to offers" as well is always good to see, and I expect it will get you a quicker sale. As a seller you are going to have an idea of what you want, so that's why it's good to see a BIN, whether people agree with it or not.

Rgds

[FC Domains]

I almost always stick a fixed price on every domain I catch, with the very occasional auction when I really can't decide.

If a trader picks up a domain cheaply from me and sells it on to an end user for an instant profit, good luck to them. The occasional 'loss leader' keeps people interested in what I'm selling and sometimes you have to take the crunchy with the smooth.

'Open to offers' does often look like the trader doesn't trust his own judgement and is scared that somebody else might do better.

[FisherMan]

What really gets to me are the "Fixed Price" sales threads that start off ...

"absolute bargain £100"

followed by two days later "reduced for quick sale £75"

and then two days after that "£50 today only" etc etc etc..


Should "Fixed price" mean just that - No price drops allowed? Otherwise the above example is just "open to offers - BIN £100"


As for "open to offers" threads... Sure, there are some names listed where I think "I wonder how much they want for that", but realistically know it's likely to be more than I'm prepared to pay (I'm a small time player).

(Yes, I know I could PM them and ask, but if they knew the answer, wouldn't they have quoted a BIN?)


Perhaps sellers could be encouraged to indicate a "minimum offer".

eg domain.co.uk open to offers - min offer £100
or domain.co.uk open to offers - min offer £100 - BIN £350


That way, it would let everyone know the kind of money expected, and would cut out the "how much do you want for ...." and "I'll off you a fiver for ..." type PMs.

Oh, and "open to offer" threads should be time limited ( to say, one week from the first posting ).


I am not the most active member on these forums, though I do enjoy reading some of the threads, so feel free to ignore my suggestions

[cm1975]

I don't believe the Offers section works unless you have a number of people interested. I can't remember ever selling a domain listed in that section, but maybe that's why!?!

I am one of the people guilty (if that's the right word?) of dropping the prices on some of my domains. The reason for doing it is generally to shift the domains quickly at some kind of profit, to allow me to pay a small bill or something. Yes it's a short term attitude on some domains, but it's to meet some short term financial requirements!

I know a number of domains are worth the initial price I set, but I don't think there is much moving in the market at the moment, so everyone is looking for a bargain. There seems to be a magic price of around £50 that people don't see as a huge risk!

[FagEnd]

Originally Posted by FisherMan

What really gets to me are the "Fixed Price" sales threads that start off ...

"absolute bargain £100"

followed by two days later "reduced for quick sale £75"

and then two days after that "£50 today only" etc etc etc..


Should "Fixed price" mean just that - No price drops allowed? Otherwise the above example is just "open to offers - BIN £100"

I do that often, as do many others. I've got to agree with you that it does not look good, but I see no problem with reducing a reasonable original asking price if you want to turnover domains.

On the other hand, if we are doing it all the time then buyers will just wait a while and hope no-one else buys it, and we reduce it several times.
Some of us don't know what domains are worth and some of us have an idea of the value but will sell anyway at vastly reduced prices just to get a sale.

[suzi]

Originally Posted by FagEnd

I do that often, as do many others.

I don't really see a problem with this. It gives an opportunity for someone who really wants a name to pay a bit more to secure it... but if there are no takers at a certain level, there may be at the next.

It's an example of supply and demand - the price drops until there is demand!

Nothing to stop someone putting in an offer by pm or in the post - put a time limit on it if you don't want to be used as a fall back position.

[FisherMan]

Originally Posted by suzi

...
Nothing to stop someone putting in an offer by pm or in the post ...

So it's not a fixed price then ?

[FagEnd]

Originally Posted by FisherMan

So it's not a fixed price then ?

It's fixed until it's reduced. Then it's fixed again.