Lowballing for Three Letter Dot Coms (LLL.com)

December 16, 2007

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Recently I added my three letter dot com to my Sedo portfolio. Within a week or two, I received my first offer for the domain.

My three letter dot com is weak. Two of the letters are Z and Q, if that gives you a clue. According to the 3character.com Price Guide, the lowest observed price since November 1, 2007 for even the crappiest of three letter dot coms was $6000.

So I was kind of surprised to see someone bid $2500 for it. Maybe they are assuming a $5000 retail price and trying to buy it “wholesale” for half off. I wonder how many owners would even consider an offer this low. Another scenario is that they are “anchoring” the price to the low four figure range and hoping that this will some how influence the owner to counter with a mid four figure offer. The final scenario is that they just don’t know what three letter dot coms are selling for. This is highly unlikely since they are using Sedo.

So now the question is what do I do. I could do nothing and let the offer expire in seven days. I could decline the offer. This is one thing I HATE about Sedo’s offer system. They FORCE you to enter an amount, even if you are declining an offer. There’s no way I would accept the offer since I paid more than $2500 for it. Another alternative is to make a counter offer. Part of me wants to counter with a $25,000 offer just so that I can tell the bidder how far off the mark they are. Since I think they already know this, that would be a waste of time. The final alternative is to take the domain to auction.

I’m just not ready to sell it. I’ve only had it for 6 months or so and the value has already gone up 50%. I don’t have any stocks doing that well. Who knows, maybe by next summer it will have doubled in value. Besides that, I just like saying that I own one.

The more I think about it, the more I like this bidder’s approach. If you know the retail value of domains, it might be worth your while to go around making 50% offers at sites like Afternic and Sedo. Who knows, maybe you’ll get lucky and one out of a thousand times and find an eager seller. The trick is KNOWING the retail value. Three letter dot coms are easy to gauge since we have the three letter dot com report. Even if you bid $4000 for them, there’s very little risk. This may be an avenue to explore during 2008!

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