I told you I hit a jackpot... - Page 3

jwalsh · 02-21-2006, 11:55 AM

I must have misunderstood, I thought you were getting the appraisal. Either way the advice is the same, except you obviously don't have the choice to mask the appraisal from them

Dustin07 · 02-21-2006, 11:57 AM

your views match our views eh?

Something my father-in-law told me about stock... 'never be afraid to pay yourself'. If your making profit... no need to get greedy, that will typically burn you in the long run. Know what I mean?

But if you think you can generate some good income, even $1000/month profit, then perhaps keeping it is the better investement for you.

jwalsh · 02-21-2006, 12:52 PM

Quote:

Originally Posted by Dustin07

your views match our views eh?

Something my father-in-law told me about stock... 'never be afraid to pay yourself'. If your making profit... no need to get greedy, that will typically burn you in the long run. Know what I mean?

But if you think you can generate some good income, even $1000/month profit, then perhaps keeping it is the better investement for you.

I agree with you on this, 100%. If he were to pitch $5,000 to the client when it's not worth that value, then yes, it's greedy, and will hurt. However, if the client offers the $5,000 price tag, it's just a yes/no decision at that point.

I'm an ethical guy, I often times go out of my way to make sure things are run ethically. But there is a difference between a good deal, and a great deal.

Nick · 02-21-2006, 12:09 PM

Yeah, I have to get the appraisal in order to sell it to him, which could be good or bad news

imaginemn · 02-21-2006, 12:48 PM

Whether you like appraisals or hate them, it's a requirement that the buyer has. If I were to ask for an appraisal and you come back to me saying you don't like them (or something like that), the first thing that comes to mind is lower my offer price. The fact that you don't want one would make me think that you don't think it's worth that much. While it may sound that I would taking advantage of you for lowering the cost, I would feel you are trying to take advantage because you are not disclosing something I may not know. If the third party appraisal comes back as worthless, I may not buy it. It's not much different than buy/selling a home or another business for that matter. Any domain name can be a success if you have the right marketing team. Just look at the v7n contest. Not a very marketable name but it's out there getting lots of publicity and people are using it to make some money. Every contest site I visit has adsense on it.

Sorry, got off topic, the things I would ask if I were a buyer is proof of income the site is generating, web stats for the last 2 years (if the site existed that long), Proof of how much revenue the site is making (if any).

Dustin07 · 02-21-2006, 01:02 PM

Quote:

It's not much different than buy/selling a home or another business for that matter.

and unfortunately there are so many different ways to put together appraisals for homes and business that they still don't work. At least not by any one formula. The bank appraises my home at $233. The realtor at $190, I appraise it at $150 for what I would pay, or $200 compared to the neighborhood. So where do buyers appraise it? And we are all using some sort of legitimate formula. Businesses are the same way, but perhaps even worse. If a business is currently going to extreme growth then buying it at one said forumula could really leave the buyer at a HUGE advantage. If the business is on it's way down, the buyer could get screwed using the same appraisal formula. If the business is extremly matured, then almost any formula could work out fair for both parties. but this is just too unpredictable.

Perhaps this is a good Idea Nick. Put together a full presentation. Get the name appraised. In your presentation put together the sites potential compared to competitors. Include both high and low income potential and add into it, the sites name appraisal.

This will provide the buyer with the appraisal of which they seek + some value added.

When it comes down to it though, it's worth what someone will pay and not a penny more regardless.

Nick · 02-21-2006, 01:08 PM

Hmm...well one of my sites has made $5000 in 8 months and isn't even close to begin to see some substantial traffic like pet-medicine.us could (Since google these days favors the keyword relevant domains).

I guess it's all about patience, its like if I win the lottery = take 4.2 mill now or stretch it out and make 10 mill in 10 years.

Brian · 02-21-2006, 02:41 PM

Quote:

Originally Posted by Nick

Hmm...well one of my sites has made $5000 in 8 months and isn't even close to begin to see some substantial traffic like pet-medicine.us could (Since google these days favors the keyword relevant domains).

I guess it's all about patience, its like if I win the lottery = take 4.2 mill now or stretch it out and make 10 mill in 10 years.

I'd hope you would take 10 @ 10 years

DaveyBoy · 02-21-2006, 02:44 PM

I'd just sell it, i mean you were trying to borrow 91 cents the other day, so 5000 dollars would be good for you.

Nick · 02-21-2006, 02:41 PM

Great, he thinks Godaddy's appraisals are done by programs and thinks appraisals under $65 are crap. I don't have the money right now for a $200 domain appraisal.

The facts are there. Honestly, $5000 is a low ball IMHO.

It's really stressing me out.

imaginemn · 02-21-2006, 02:47 PM

Quote:

Originally Posted by Nick

Great, he thinks Godaddy's appraisals are done by programs and thinks appraisals under $65 are crap. I don't have the money right now for a $200 domain appraisal.

The facts are there. Honestly, $5000 is a low ball IMHO.

It's really stressing me out.

Negotiations, aren't they fun? I think GD's are crap too. While I can understand your dilema about the $200 appraisal and not having the $$$. You need to realize that you are asking a lot of money $10k (sedo) for a site that may or may not produce results. While $10k is not a lot of money, I wouldn't throw that away without doing a little research. I would prefere to buy a cheap $35 domain name and use the $10k to market the site. At that point the domain name won't matter as much. Look at v7n.com, by the name alone, I wouldn't guess "web development community" would you?

When trying to sell something for top dollar you need to expect to pay for reporting and possibly other things like tax records, proof of income, etc.

Good luck!

imaginemn · 02-21-2006, 02:54 PM

Mine is worth $ 64,000 ~ 96,000 according to that site.

It's missing a few zeros. LOL

Nick · 02-21-2006, 02:45 PM

I just did a swift appraisal of the domain:

$ 19,000 ~ 28,000

http://www.swiftappraisal.com

Dustin07 · 02-21-2006, 02:46 PM

meh, save yourself an ulcer and don't sell then. Tell him for the money it's worth it for you to just keep it and promote it yourself because you'll turn that much profit in under a year anyways.

Besides, if it's TRUE, and you CAN make that much money, then why wouldn't you? You enjoy web design and promotion, and obviously have a special place in your heart for the pet industry... seeing as how you keep coming back to it. build yourself some good revenue generating sites and call it a career

edit: I posted that before I saw your appraisal. According to swift I should definately sell steelers12thman.com. It's worth:

Quote:

Estimated Value:

$ 56,000 ~ 84,000

so if your guy won't buy your site for $5k. tell him I'll give him mine, it's worth more :crazy:

Nick · 02-21-2006, 02:58 PM

I know their is success with this domain, because I am already seeing it within 1 week of it being online. Being a part of this pet industry, I know much more than the average person does about dog medication, etc. I guess that's where I have my edge.

The domain will only be a success if time is spent developing it in the right way. Which I can do, but is it worth the wait?

imaginemn · 02-21-2006, 03:05 PM

Quote:

Originally Posted by Nick

I know their is success with this domain, because I am already seeing it within 1 week of it being online. Being a part of this pet industry, I know much more than the average person does about dog medication, etc. I guess that's where I have my edge.

The domain will only be a success if time is spent developing it in the right way. Which I can do, but is it worth the wait?

Then just FOCUS > DEVELOP > DEPLOY and stop wasting time!

Look at it this way how much time have you spent online today on forums? You could have used that towards building the sites and marketing the site. It's not doing you any good sitting there doing nothing. Is it a resource problem? Do you need help? If so, I am sure you can partner with someone and split the profits. 1/2 the income is better than none and while you may need the money now, you'd hate to lose $100k in sales because you sold it for $10k or better yet, not do anything with it. Time is money. I budget x amount of hours for online forums as part of "training". I know it sounds stupid but that way, I stay focused on my real business. Someone has to pay the bills.

Julie · 02-21-2006, 03:04 PM

that appraisal thing has to be nuts. says my site googlelibrarian.com is worth :

$ 34,000 ~ 51,000

and my other site oasis-news.com is worth $ 4,600 ~ 7,000

lol anyone wanna buy them?

Nick · 02-21-2006, 03:11 PM

I am on here brainstorming

imaginemn · 02-21-2006, 03:29 PM

Quote:

Originally Posted by Nick

I am on here brainstorming

That's a great start! Didn't mean anything bad by my comments. Just an observation.

LOL! I just tried one of my other sites.

imaginecreativeservices.com worth $ 64,000 ~ 96,000
imaginemn.com worth OVER $ 250,000

Nick · 02-21-2006, 03:39 PM

Quote:

Originally Posted by imaginemn

That's a great start! Didn't mean anything bad by my comments. Just an observation.

LOL! I just tried one of my other sites.

imaginecreativeservices.com worth $ 64,000 ~ 96,000
imaginemn.com worth OVER $ 250,000

haha. I am listening to every comment made and keeping it in mind. This has been an eye opening experience.