Mike Mann announced on Facebook that he has removed Buy-It-Now (BIN) prices from 150,000 .com domains on his marketplace.
“I removed the prices from 150,000 premium .Com domains which is lowering sales significantly, but generating huge numbers of price requests; ie, a big pipeline. The price quotes and sales prices are going way up on average and we are adding about 200 new domains per day; so the sales slope should rise precipitously soon.”
“start high, discounting if any is based on details”
“BIN creates faster conversion, so more short term cashflow, which everyone needs”
150k domains is quite a high percentage of all domains owned by Mike Mann. Mike is the owner of DomainMarket.com that offers more than 270,000 premium domain names for sale. This seems like a very big shift away from BIN prices. Just a few days ago I spoke to some other domainer that was a BIN only guy. He has also shifted most of his domains from BIN to make offer.
Niko Younts asked if some companies get a sticker shock from BIN prices and the seller never gets to know someone was interested. Mike replied:
“if its BIN they think its real and they are not being cheated, if its a “custom” price they think its a scam”