– from a $10 transaction to a $2,400 sale | 175

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Behind the Sale AirMedixWelcome to the sixth installment of our Behind the Sale series on the Efty blog. In this series, I speak with domain name investors who reveal all the specifics of a recent transaction. You’ll discover how they purchased low and sold high, how the talks went, and much more.

Today, I’m speaking with Chuck Hambling, a part-time domain name investor from Cape Coral, Florida (USA), which is located in the state’s southwest on the Gulf of Mexico.

Tell me a little about yourself, Chuck.

I started domaining in 2005. After unsuccessfully attempting to manually register a “poker” name for a project I was working on, I found and won one on Ebay. I had no prior knowledge about domain resale. The idea fascinated me, so I started compiling my own list of names.Currently, my portfolio has roughly 3,500 names. I don’t have a narrow field of expertise, and my choice of names is very varied. I work on my domains for roughly 20 hours a week even though I have a full-time job.

What is the name of the domain you sold?

In June 2017, I sold after receiving a bid via the domain name’s landing page for sale. As with most of my names, the domain was established on the Kiffer landing page. Other domainers have remarked on how professional it appears and have inquired as to if it is a custom lander.

What did you spend for the domain and how much did it bring in when you sold it?

In September of last year, I paid just $9.99 for it as an expiring domain in the NameSilo marketplace, and I later sold it for $2,400. The name was available for offer-making and had a BIN of $2,995.

Can you describe the process used to negotiate this domain name?

I received a $1,000 bid from the buyer at first. I wasn’t happy with that offer since when I bought, I thought it would make a terrific brand for an air ambulance or medical helicopter. I set out to discover some information using the meager information provided in the offer (Name, email, phone number, and IP address). A Google search of the name and location revealed a doctor with the same name who served on a hospital board of directors. The area code was headquartered in Ashville, North Carolina. Furthermore, a renewal offer was being accepted for the local air ambulance service contract. I assumed the request was in fact for an air ambulance service. Three days passed before I responded. I listed all of the potential applications for the name, such as air ambulance, aviation mechanics, air conditioning maintenance, etc., so he could see the term’s rivals. I discovered from the emails that I was working with a small local HVAC firm that wanted to rebrand to appear more substantial. He enquired about a name payment schedule. I proposed that we do a lease buy through, but only at the full asking price. He didn’t appear to comprehend and appeared worried by that. I replied that I would take him up on his offer of $2,400 in order to avoid having to wait three months to receive the whole amount.

The deal was finally completed after around two weeks in total. I went to Efty, reset the BIN price, and sent him back to click the BIN. I would like to utilize for products this expensive, however I unintentionally had Paypal selected. Nothing went wrong at all.

Thank you for revealing Chuck, Would you want to add anybody else, please?

This was Efty’s second investigation involving the same name. I walked away from the previous deal, which was for $500, since the buyer would not budge. Since using Efty, I have a much easier time managing my finances since I can readily see my purchase price, the duration of ownership, and finally my profit for tax purposes. Since PayPal was incorporated into the Efty platform, inquiries and sales on my domains have increased. In addition, I have had a number of customers click through on the BIN without initiating any communication or discussions.

Disclaimer: Efty is not in possession of user sales information. Therefore, we only provide data on sales that have been made public. Read about our complete governance here.

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