Many people who want to buy a good domain name have no idea about domain name values. For this reason, domain investors receive countless lowball offers for their domain names. It’s an annoying aspect of the business, but I try to reply to everyone who inquiries about a domain name as a courtesy.
Over the weekend, I received a $50 offer for one of my one word .com domain names. It’s a name I’ve had for a while and have turned down many substantial offers. I replied to the prospect and explained the types of offers that have been received to show him just how far off his offer was. I also shared a list of publicly reported one word .com sales I track on Embrace.com.
Sometimes people are jerkwads when they reply back, but this person seemed reasonable in his reply. He let me know he was unaware about the desirability of domain names like mine. He then said he would return at some point with an offer that was more in line with its valuation.
Despite the fact that domain names have sold for substantial sums for more than three decades, there are plenty of people who do not understand how valuable domain names are. Considering this particular domain name is priced well into the six figures, I highly doubt this person will return with an offer in that range. Perhaps he will use the information I shared to educate himself about domain names and end up improving his budget to secure a good domain name for his business.
It shouldn’t surprise me at this point, but many people aren’t educated about domain names when they first try to buy one. It’s a bit peculiar.