My thoughts on setting BIN prices on your domain names

JulienJ

Member
One of my favorite ongoing debates in the Domaining world surrounds a topic that might sound simple but ends up being surprisingly complex, should you price your domains or leave them open to offers? It’s a topic that I personally have gone back and forth on for years but over time I’ve landed in the BIN camp.

Of course this answer is different for different people so take anything I say here with a grain of salt but here’s the advantage I see to putting a BIN price on your names. When someone is looking for a domain name, and they don’t have one specific name in mind, they’re often driven by a name that they can easily find is available for sale, and is in their budget.

In most cases I think it’s pretty darn likely that when you sell a name at its BIN price, you probably did leave some money on the table. Just because someone bought your name for $3,500 doesn’t mean they didn’t have a $4,500 or even $7,500 budget. What it does mean is that the combination of domain and price made them pull the trigger right then and there.

If the same name was listed as “Make Offer” you could sell it for more but that same buyer could also easily overlook it. The question you have to ask yourself is how much profit are you happy with? Years ago I set my goal at 10x and told myself, if I can sell a domain for 10x what I’ve paid for it, I should be happy. This doesn’t mean that I price every domain at 10x my buy price, I have names at 20x, 30x or more in some cases, but I’m never going to be upset about a good return.

Let’s be honest – it’s easy to be obsessed with dollar values, you see a similar two-word .COM to one that you bought for $500 sell for $25,000 and suddenly that becomes your new price expectation. Sure you can turn down that $10,000 offer, but if you stop to think about making 20x what you paid and re-investing that money, it’s not hard to understand why making that $10k sale sooner could be a better long-term move.

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