Has it burst or do we take it higher?

Discussion in 'General Indian Domain Name Discussion' started by ajf7688, Nov 28, 2015.

  1. ajf7688

    ajf7688 India Member

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    Hi fellow inforumers,

    Recently, I have been receiving 3 to 5 calls a week asking me regarding domains I own. The callers are end-users and usually start of conversations with
    1. You have this domain, since you're not using it let me use it
    2. You have this domain, what are your plans for the domain, I have plans so can u sell it for xxx(Low price)
    3. Bhai! Mere paas paisa nahi (Brother I have no money), can I get the domain for Rs.1000(~$15) (Yes this happens a lot)
    4. I am a student, can I get this domain for my personal use
    To all the above 4 types of callers my response is as standard as it has been for years, "I have plans for the domain that's why I purchased it and the price is xxx if you want to acquire it".
    I do not play the what is your initial offer jazz, For the simple reason I know why I acquired a name and I focus on markets I know, hence I know its value.

    I made a domain sale for Rs. 26K(~$400) last week and its my first sale in more than a year, I was selling domains regularly at that average price more than a year ago. I even used to come down to 50 - 60% of my calculated pricing for Indian end-users(local business and startups).

    I would like to know cases of calls received from others on this forum and what are your thoughts?

    Secondly, How do we improve the .in ecosystem towards profitability? Domaining should be fun at the same time we should see the industry at a high!


    I do have a few suggestions below
    • Should we come up with factors that can lead us to calculate min-offer pricing, I feel this would help both seller and buyer, as right now sellers are looking at their domains as random lottery tickets, Buyer are looking for best pricing, I say lets give the buyers that best price and stick to it
    • As a community focus should be more on end-user sales rather than reselling to each other at 10% - 20% of the calculated price, Ive sold a lot of portfolios(bulk and at 20% of my pricing) and I don't intent to continue .in domaining if its leading me that way. When I sell domain portfolios I get PMs from older domainers telling me to hold out and not sell but wait. Truth is I'm ok with waiting but as a community what are we doing to promote what we have here?
    • Buyer ability to purchase should not be a factor to judge pricing, but we can still reduce pricing during negotiations. Some times its not easy to calculate a price, when a buyer does approach and we tag a price of say $2000 for a domain, and the buyer makes an offer of $1000, I think it's legitimate. as our pricing can be off too, Point is buyer ability to purchase could factor at this point
    • Tips on buying .in domains should be shared. for eg. Rather than buying 10 domains for Rs. 500 (~$10) each, I buy one good domain for Rs.5000, This has worked for me when it comes to .com/.me, another thing that has worked for me in .com is buying new 3 letter .com domains at ~$10.
    Apart from the suggestions above, I do feel how the market is directed is in our hands, we need to come together and make the market. Would like to know your thoughts.

    Thanks
    Antonio
     
    Last edited: Nov 28, 2015
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  2. Ace

    Ace United States Well-Known Member

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    No matter what the point you mentioned above is from 1..4, think like a capitalist. You are here to make money. 1,3 and 4 are all bull-shit , don't fall for it. For example if some person claims that they are a student why the hell do they need a premium domain? I have see so many emails like this. People offering $5 for a premium domain. Just ignore and move on. Not worth your time & effort.


    What you were selling ~$400-$500 per domain an year ago is in the ballpark. In the recent months the prices of domains have increased especially NNN & LLL.

    Here are the end-user prices for
    NNN: $1,000
    LLL: $1,500

    Obviously, one is free to ask based on your personal financial situation. Almost everyone is guilty of underselling at some point to make way for coming up renewals or other financial needs.

    Every domain is different, in case you have an inquiry, but I would suggest taking suggestion from others so that you can get a second opinion and counter inquiries with an educated response. Also what I have learnt in all these years is that folks in India do have money, but haven't realised the value of good domains. So we need to increase awareness about domain values by looking at recent sales of similar domains.

    You can visit the link in my signature for a list of .in sales
     
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  3. wot

    wot Thailand Well-Known Member

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    Never had anyone call me regarding a domain!
     
  4. ajf7688

    ajf7688 India Member

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    This is correct, The value of good domains aren't realized yet, the feeling I get while negotiating, is the buyer looks at the domain as an immediate expense rather than an investment in a brand for the future.

    Also as you have mentioned, Every domain is different and should be treated differently, So regardless of how we set our prices(value of the domain), I feel we should get the prices out there (Exclusive Marketplace? Just saying! Not sure if this is allowed for .in) so that buyers can be directed and guided towards a sale. Rather than buyers looking at us as an unorganized and unpriced market which can lead to underselling and undervaluing the market as a whole.
     
  5. LLL.in King

    LLL.in King United States Well-Known Member

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    @ajf7688- When they call you, i hope you take some time to EXPLAIN the value of the name? Whether its efective or not, we have to keep explaining value to the multitudes in INdia who obviously target good domains not knowing what they are going after.

    @Ace- nice commments!

    At the end of the day, end user prices not meeting reasonable expectations means that the market has not matured. Do not be that guy who gets filled with pity and sells his whole portfolio for $100-$500 each name. when the market matures you will realize how foolish you have been. have you gone through the completed sales thread from beginning? u will get depressed and see how shortsighted so many have been. hold tight and play hard. Thats the only way we win.good luck.
     
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  6. Kokoro

    Kokoro Poland Member

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    Something is strange here. Your name suggests that you are not an Indian and international calls are expensive. Do you provide your number on your domains ?

    I receive maybe 1 call per 100 inquiries but my number is visible only in domain whois and most of the domains have contact form available.

    I think the lowball offers is something we have to get used to. I have once received a $2 offer, so that Rs.1000 is still not that bad offer. ;)
     
  7. ajf7688

    ajf7688 India Member

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    Dude, please get updated! You're trying to make money in an Indian market and you don't know about our diverse culture? The only thing that's strange is your limited knowledge.

    I'm from Goa (https://en.wikipedia.org/wiki/Goa), and a proud Indian too :)
     
  8. ajf7688

    ajf7688 India Member

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    I do try and explain, people usually get upset over the pricing and the fact that they can't have the domain. Again purchasing ability comes to mind here. Sometimes the buyer does call back in a few days and quotes a decent price.
     
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  9. Kokoro

    Kokoro Poland Member

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    Thanks for being so not nice to me. :) I only tried to be helpful and not to jab your pride. You implied so much about me that I even don't now where to start ... so I'll leave it as it is.

    Thanks for the link too! I thought Goa is a moon of Saturn.
     
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