Domain Name Negotiating
April 16, 2008
A couple of weeks ago I watched an ESPN show about car auctions. During the program there was a nice old car on the auction block. The high bid was $30K. They put the BIN at $39K. The high bidder kept asking the auctioneer, “what’s real money”, “what’s real money”. He spoke to the camera, “the last time I overpaid $100K because they had me bidding against myself!”
Which brings us to domain name negotiating.
A couple of weeks ago I made an offer on a domain name. On Monday, the seller came back and said the BIN was $1000 more than my offer. I was tempted to buy it for the BIN but I resisted. I kept thinking about the guy on the car show and how he was bidding against himself. So I stood my ground with the original offer and saved $1000. I wonder what would have happened if I had let it go, I might have gotten it for even less than my original offer.
At the very least I learned my lesson and didn’t bid against myself!
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