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A VC: Finding And Buying A Domain Name

Shared by JohnH

I’ve linked to this Fred Wilson post before, but this comment is priceless. Sounds like a Rick Latona level player and he’s doing us all a favor by describing how to approach a sale.

So what do most domain owners do? IGNORE YOU. That’s right. So if you’ve ever contacted a domain owner after looking them up with a Whois search and they didn’t reply, it’s not because they didn’t your email (which makes you think that follow-up fax or phone call will do the trick; HINT: it won’t.) It’s because they think you’re like everyone else that thinks they can buy the domain for $100 or so.

Here’s how you get their attention and get the ball rolling…

Rule #1: You must start out by making an offer in your initial email.

Rule #2: This offer must be high enough to get their attention and make them at least THINK.

NOTE: Rule #2’s amount will depend on how great the domain is.

The two magic price points I have found that work the best (they depend on how valuable the domain is) is either $1,000 or $2,500.

If it’s a great domain then $5K-$10K is usually the starting point. These amounts are enough to get anyone’s attention. I’ve bought many $100K+ value domains for $15K-$20K by starting with a $5K or $7K offer.

By starting with at least something that gets their attention they will take you seriously. This is the first step or you have no chance to make a deal.

In most cases for decent 2 words domains, the $1K to $2.5K opener works best.

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