The thing that really gets my hackles up is Sedo’s “Please justify your asking price” quote that is used extensively by lowballers and noobs who’ve probably never run a business and with this attitude probably never will run a successful one either.
You are the one making the offer, if you find the asking price too high, cancel negotiation, don’t ask me to ‘justify my asking price’.
- Do you ask Ford to justify the price of their cars when you go to a dealer to purchase one? I’m sure a car doesn’t cost as much to produce as they sell it for!
- Do you ask Mcdees to justify the price of a burger when you go to buy one? Why pay $10 for something that costs $2?
- Do you ask your cellphone manufacturer why they charge so much for the phone? After all replicas cost only a fraction!
You need the domain, why you’re making an offer for it, if you find the price acceptable buy it, or buzz off.
If you find the price close to what you’re willing to pay for it, negotiate, just don’t ask me to ‘justify my asking price’, I won’t.
There are just so many costs to domain investment that most noobs and wannabes will probably never understand.
- There are registration / purchase costs for a domain.
- There are research costs.
- There are negotiation /acquisition time costs.
- There are portfolio carrying costs.
- There are legal costs.
- There are accounting costs.
- There are salary costs.
- There are taxes.
- There are sales commissions.
And even more importantly, it’s a business, it’s not a charity, if we don’t make money, we don’t survive very long. That in itself should be ‘justification’ enough for anyone with half a brain.
So ask me anything, just don’t ask me to ‘justify my asking price’, coz I’m liable to come back with a 2x price once I get asked this stupid question.