Education Behind the Sale: – from $535 to $14,000 | 186
domain m.com for saleWelcome to the ninth installment of the Efty blog’s Behind the Sale series. In this series, I interview domain name investors who reveal all the specifics of a recent transaction. You’ll find out how they purchased low and sold high, how the talks went, and a lot more.
Today I’m speaking with Dan Prather, a full-time domainer and entrepreneur from in Columbia, South Carolina, USA.
Tell me a little bit about yourself, Dan.
I am a domain investor who has been doing so since 1998. I now own and manage somewhat more than 1000 domain names, largely for commercial purposes, with a focus on the Ad-Tech, Wireless, and Faith-Based businesses.
What is the name of the domain you sold?
MyBK.com, a 4-letter domain, was recently sold to a buyer for $5,000 after I received an initial bid on its Efty landing page. The For-Sale landing page was utilising the Kiffer theme and had a $5,000 minimum offer.
What did you spend for the domain and how much did it bring in when you sold it?
For $535, I bought the domain in 2010 for a client project. I just preserved the domain because it had the potential to work with many various corporate and brandable initiatives when the customer decided not to utilise it and abandoned the project. The domain name was sold on February 7th, 2018, for $14,000.
Can you tell me about the talks for this domain name?
On February 2nd, the buyer made an offer for the $5,000 minimum inquiry amount, to which I answered with a $17,500 asking price and an offer to address any questions by phone or Skype. The buyer answered the same day, explaining that his budget was just $4,000, to which I gently replied that we were too far off to complete a transaction, but that I would consider a lease-to-own build. We then exchanged a few more emails in which I emphasised that the minimum offer amount was only for enquiries and was not necessarily the price at which I would sell the domain, and the buyer agreed. He had to talk to his CEO, so I did. He returned three days later with an offer of $14,000. I accepted it. Escrow.com was utilised by us to finish the transaction, and they performed a great job of helping. I received payment within two business days.
Thank you for revealing Dan, Do you have anything further to say?
Through the Efty platform, I’ve had multiple requests for information on my domains. The SSL layer gives the landing page credibility, and having a personal brand makes it simple for customers to research the business. The possibility for a transparent encounter between the buyer and seller is provided by Efty.