Ask HN: Someone is interested in one of my domain names, now what?

[wlfsbrg]

I received an e-mail this morning from someone inquiring about one of my domain names. I bought the domain a while back and it ended up collecting dust. My question is, what steps should I take to ensure a successful sale? I've never been approached before about a domain and I'm at a bit of a loss.

I'd love some advice/suggestions so I come away from the transaction feeling like I got a fair price, but at the same time didn't insult the fellow with too high of an asking price.

Thanks!

[uptown]

Here's a couple tips:

1. Don't worry about insulting the person with your price, but I'd let them make an offer before giving them an estimate of your price.

2. Try to figure out what it'll be used for. This will give you an idea of how valuable it is for them, and what kind of economics are behind their business.

3. Be careful with requesting a specific price if you're not willing to go through with it, as courts have found these to be binding.

4. Use an escrow service if you come to an agreement. I've used Escrow.com, and they have a system to manage the entire exchange of domain names. The buyer pays the fees.

[d2]

Good tips. Ask for more than you think you'll get. Throw out a price before the buyer does that is high as it will create the perception of value. [Google "Price Anchoring"]. If they throw out a price first, flinch. [It sounds silly, but it works. Read The Art of Power Negotiating for more tips]

[pkamb]

"Flinch" as in physically flinch? I assume this is being done over email :)

[staunch]

You could try this emoticon: (ﾟдﾟ)

[anigbrowl]

Well, how much business do you think there could be? Is it a functional name like comic-collector.com or something fashionable like hipst.er? In an ideal world you'd like to sell for $1 plus 1% of their revenue in 5 years time, but naturally the buyer's interest is in buying the asset outright. Maybe you could trade for some stock? It's costing you money right now...which reminds me that I've got several domains I should put on the block myself.

[iworkforthem]

I was a victim of a domain fraud before. Largely due to my lack of knowledge how it should ideally work out. Just sharing, hope it helps.

- Dun use paypal to receive payment. The buyer can always raise a dispute, it is impossible to show proof that you made delivery of the domain. Paypal look at tracking code for physical products most of the time.

- Use eScrow services, top is from Moniker - http://www.moniker.com/domainappraisalbrokerage/domainescrow... It will guide you through the whole process.

ps: Dun just take my word for it. Speak to more domainers.

[staunch]

You absolutely must use an escrow service. I can vouch for Escrow.com. I've used it for multiple significant transactions and they're quite good.

[staunch]

Most people have no idea what domains are worth and there's really no good way to get a real appraisal. If someone is emailing you to buy your domain (and you want to sell it) you probably should just try an auction on Sedo.com