Previously I wrote about domain seller’s remorse. Yesterday, I got an email from GoDaddy saying that one of my Premium Domains had sold. For some strange reason, my reaction was bittersweet because I don’t do a great job in keeping my domain prices updated, so my immediate thought was “was it priced too low?” It’s not because I am lazy, but rather because I am super busy and domain sales aren’t my primary source of income.
This domain sold for $500 and all things considered I am happy about it. I’ve had it for over a decade and it used to belong to an active business that I had, but I guess in my idealistic world, I would have sold the domain for enough money to recoup my losses on the business. Yes, those losses were written off many years ago, it’s just the principle.
On the contrary, overpriced domains don’t sell, so who knows if having it listed at a higher price would have had the same outcome.
Auditing Your Domain Portfolio
If you want to avoid having similar concerns over price, I recommend auditing your domain portfolio periodically. Ask yourself if the values are higher are lower based on what’s going on in the market place, or perhaps what your personal financial needs are. If you need money in the short term, you want to price them lower and seek wholesale buyers. If you are just holding and don’t have a critical need to sell, then you want price them higher.
When updating your prices, make sure to update all of the sites where you may have them listed (GoDaddy, Afternic, Sedo, etc.)
Be Realistic When Entertaining Offers
So the full disclosure on this domain is that someone offered me $1,500 for it many years ago. Maybe that’s the real sting. My target price was $2,500 – $3,000 and I was willing to hold out… or so I thought. In the end, I didn’t get as much money as I could have because I was unrealistic.
Selling domains at retail prices takes time and work, so if you don’t have time to sell your domains in the retail market, be content to earn wholesale prices or low-end retail prices.