Selling & Marketing 'prime' domains.

[suzi]

I'm thinking about selling one of my 'better' domains and would like to think that it is one of the best .co.uk domains for its niche. It is possibly the best two word domain.

This is a niche which is actually rather large and in the UK forms a significant part of an industry described as:

"worth over £20 billion and contributing nearly £4 billion in UK tax revenue"

and involving "80 million people" per annum in the UK.​

I've done a reasonable amount of research and there are many significant players in the industry, who come at it from a number of directions. There are also several industry 'associations' and a whole PR / marketing industry.

So my question is:

What is the best way to market and sell a prime generic ?

• Do I market it myself directly at the end users, PR companies etc?
  
• Do I involve someone like S E D O? If so, will they actively market it to end users?
  
• Are there other options?
  
• If I do it direct - what is the best way to achieve the best sale price? Direct negotiation? Private tender / best bids? List it for auction somewhere?
  
• Any advice / suggestions / thoughts etc appreciated.

I'm really looking for generic answers rather than name specific answers.

Many thanks

Suzi
xx

 

[accelerator]

Edwin's site is worth a look for inspiration:

Memorable Domains - Generic .co.uk Domain Names for Sale

If I was going to market a prime generic, I would be contacting end users directly. You could just invite offers via e-mail, but to make the final sale I would probably want to use some sort of auction process to ensure best price. Notifying end users in advance of an auction would also be a good idea.

Rgds

 

[suzi]

...to make the final sale I would probably want to use some sort of auction process to ensure best price.

What you've suggested is in many ways what I thought might come out of my question - but I'm still interested to know if anyone else has any other ideas.

Is it best to advise potential end users that the intention is to auction the name (however that is done)? Or, is it better to get their interest and then decide that due to the high level of interest, the name is now going to be auctioned?

If auctioned... what is the best way to do this? Through S E D O, or otherwise?

Thanks

 

[accelerator]

I don't have a lot of experience selling domains, but here's what I would do if I wanted to sell prime generics:

Build a quality website representing my domain selling company.

Contact end users in a professional manner, i.e. send a letter with a high quality feel. Probably follow up with an e-mail too.

The last bit is where I haven't finalised details but it would probably be invite users to make an initial offer to act as a reserve for an auction.

I think Sedo would be a good platform for many auctions. The purpose would just be to get the visibility of the sale up, and you just have to judge each time whether that's worth their commission.

Rgds

 

[TinkyWinky]

Sedo would be a good platform for many auctions

Hmmm I'd challenge that for prime generics - their broker arm had my 4 prime generics and didn't manage one single solid enquiry in 9 months. I also had to do the sales pack....

They may have lots of users, good exposure and be well established, but you will rarely get top end-user prices for Prime generic domains.

For smaller generics, good tld's and wierd and wonderful domains, SEDO takes some beating in terms of getting to a wider market. Shame their parking earnings are sooooo pony otherwise they would have a really good package.

In my experience, direct approaches to end-users (either through a small minisite or cold calling) will always achieve better prices - but you have to be prepared to put the work in to get the sale. Cold calling-wise, you may have to send hundreds of emails out just to get some leads - and don't think you can do it all by email... get on the phone.

You should also ensure you have all the facts, figures, media articles and research to back up your reasons why generic domains will increase in value - with no facts underpinning your claims you'll probably be struggling to achieve those top end prices.

Finally, be prepared to haggle if you really want that sale - otherwise sit back and wait for people to contact you - but in most cases you simply won't get what you believe the domain is worth.

Good luck.

 

[suzi]

Thanks Tinky.

Are you suggesting that if you get one person / company after a domain, you'll be doing well?

What if you get more than one. How do you play them off against each other, without getting into a dutch auction and risking upsetting them both/all?

Must there be a sell price - or can you go to 'best bids' or is S E D O or similar best at that stage?

What have you done with your primes? Do you still have them, or did you sell?

Thanks

 

[philiporchard]

I've tried a straightforward approach to end users, and also contacted end users, after some indication of interest, and advised of a Sedo auction. The second approach didn't work. Both names flopped at auction.

I would keep it simple, and go for the direct end-user approach, with a guide price up front, but flexibility built in

 

[RSK3000]

I'm with Accelerator on this.

I've got a domain in various extensions that defines a multimillion pound industry. No other name describes that industry and its only the .com thats missing.

I am looking at contacting the top 20 companies in this niche, as well as taking out ads in the relevant trade press. As an alternative to ads I was considering a press release.

The thing is this is not a great time to sell and I think, in my case, it may be better to wait 12 month before taking any action.

 

[accelerator]

The other thing I would guess is that if you can build a site and rank it, it would help greatly with your sale. If you are ranking a site for a term, you've massively increased visibility and the right people should see it.

Rgds

 

[TinkyWinky]

if you can build a site and rank it, it would help greatly with your sale. If you are ranking a site for a term, you've massively increased visibility and the right people should see it.

Exactly - but you still need to close the sale and to know and understand why people should or would 'want' to buy at the price your proposing. There are some pretty basic rules to negotiating - some of which will apply - some won't.

There's also a lot of people that are happy to pay the price you want, because they see the potential for long term rewards on domains and the price you are happy with is a small price for them to pay in the short term.

There are, as with all products, so many factors - it's just that for the online market, I believe there are a lot of people and businesses who don't really fully understand why there should be an intrinsic value to a domain name - whether that be a generic or other.