Best way to negotiate down a significant counter offer?

Started by Michelangelos, Jun 27, 2022, 12:49 AM

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MichelangelosTopic starter

Hi,

I made an offer at Sedo on a word+word.com domain in April. The minimum bid was listed as $1,000, so I put in a bid of $1,000.
The seller came back yesterday, about 6 weeks later, with a counteroffer of $16,000 and no comment.

Estibot puts it at less then $100. My personal opinion is it's worth about $2,000 - It's plural .com is registered, but not resolving to a host, it's not a commonly searched term, and almost all ccTLDs are available. However, I've become somewhat attached and would be willing to spend up to $4,000.

What's the appropriate way to negotiate? $16,000 is a huge jump. Between that and the time taken to respond I also wonder if they're legitimately interested in selling. I don't want to pay more than is necessary or want to waste anyone's time.

Should I just find something else at this point?
Is it rude to counter with something substantially less, like $2,000?
Is it worth getting / or too late to get someone to negotiate on my behalf? (Unfortunately we haven't established comms though the notes attached on the offers - So it's really just $$ at this point)

Thanks - I've been out of the game for a while so be gentle :o)
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lokdown

Why have you become attached to the name? Sometimes that out of our reach becomes more so desirable, even if it becomes almost foolhardy to continue forward.

Seems to me the seller has no clue as to what they are doing in terms of valuation, or they don't take it seriously, and you do. I would grab the reins on this and make a final offer you feel comfortable with. Move on.

BTW, definitely not rude to counter with something substantially less (or more) if its a genuine approach from both parties. Sometimes it takes a negotiation gone south to educate one or the other for the next round. He might discover that he just turned down a 2k offer he may never see again.

I find it interesting the plural is registered.
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maestro_bah

Since you said you would be willing to stretch your budget to 4k, why don't you counter with the 4k offer and tell him he need not reply if he is not selling at that price.

This helps the both of you make up your mind on the next line of action. For the buyer, he replies which means he will sell for that price. And if he doesn't reply, you look for alternatives.
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