Inside the sale of CryptoGame.com

Today I got the chance to chat with Ramkumar.M, A part-time  domain investor from India.

Ram, please tell me a little about yourself…

I’m from India and started domaining in mid 2013. I currently hold around 1,200 domains and I’ve invested in VR, Holo and Crypto niches. I am a B.Tech graudate, certified in SCSA (Sun Solaris System Administrator), and Remote Infrastructure Management. I develop websites and also run a hosting company full time.

What domain name did you sell?

CryptoGame.com. I bought it in January 2018 for $1,200 from a private seller via WhoIs.

What made you think that $1,200 was a good price for CryptoGame.com?

I felt like it was a great re-seller price. I would have paid up to $10,000 for the domain name.

How much did the domain name sell for?

It was sold for $85,000 at RapidNames.com/Afternic.com.

Was it BIN or Make An Offer?

It was Make an offer. I had CryptoGame.com parked on my own website RapidNames.com while I conducted an outbound campaign to some of my past buyers in the crypto niche. After doing some outbound, I parked it on Bodis to check the traffic and got a few inquiries through there.

What happened next?

I accidentally listed it for $24,995 BIN on afternic while adding 50 domains in bulk. Shortly after, an Afternic broker contacted me in regards to a $20,000 offer. I had already received a $45,000 offer from my in-house brokers on RapidNames.com so I rejected the offer and removed the BIN price on Afternic.

I was then contacted again with a revised offer of $50,000. I rejected and countered $100,000 becuase I believe it will be worth $150,000 + in a couple of years. The buyer countered again, and I told him we could do $75,000 NET for a quick sale (within 7 days). I wanted to give a discount to the buyer because he had already seen the $24,995 BIN. Shortly after, the afternic broker closed the sale for $85,000.

How did you close the transaction (payment wise)?

Afternic took care of payment and payout.

What are your goals for 2018?

I wish to get a 6 figure sale.

Anything else you would like to share?

Thank you so much for the interview. I request that every domainer share their success stories to build a healthy domainer’s network. Sharing is caring. Thanks to all!

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I think the most interesting part of this sale, is that the buyer COULD have purchased CryptoGame.com for $24,995 via an Afternic BIN. Unfortunately the buyer elected to try negotiating on price and ended up having to pay $85,000!

When I’m approached to assist a company with a domain acquisition, I ALWAYS advise them NOT to negotiate a BIN price that is comfortable for them. There are many instances when a domain investor will raise the price when they find out there are interested parties. Other times the BIN price is outdated or priced incorrectly by the seller. Sometimes it’s not worth haggling over a few thousand dollars.

 

 

 

6 Comments

  1. Yes Ram, If you know very well BIN price is fair enough , then never try to play negotiation game. It does cost much, where BIN would allow you to have the domain in strict manner

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