This is a domain name story that almost never happens. Or is it?
So the story starts with this domain name that was coming up for renewal. It was a New gTLD domain: Hollywood.Agency.
The domain had a $72 renewal price. While I was thinking to renew it or not I thought of visiting the .com to see how it was used or if it was for sale. (This is one of the 10 things I do when renewing my domains.)
It turned out the domain HollywoodAgency.com was parked with Afternic with a BIN price of $495. So I decided to buy it. My principle is to negotiate 99% of the times, so I did. I negotiated the price down to $365!
I think that a domain like this would have sold for $1k-$2k in an expired auction easily.
This purchase was a no-brainer for me. Price of the .com was just $365 that was exactly 5 years of renewals of the New gTLD.
So I made the purchase in mid March. A month and a half later I got an email with an offer from the Domain Buy service of GoDaddy.
Me and the buyer got into negotiations (that were slowed down by the poorly designed GoDaddy system) and about a week later we agreed to a $8,000 price. The buyer paid $9,600 including the GoDaddy fees.
I can only imagine what the previous owner would think if he/she read this post.
But you may want to look at this sale from the point of my buyer too. They missed the $495 BIN price by a month and half. They ended up paying about $10k for the domain.
Of course some will even say that I sold too low but it was so fast that I was somewhat surprised.
But the point is that you should look for deals everywhere you can. And yes there are some cheap domains for sale in the aftermarket.
So now you can ditch the nTLD.
This is a Hollywood ending 🙂
You sure about that, that would mean K goes home with Harvey Weinstein
Great story and nice sale. Congratulations.
I guess they didn’t want the GTLD
No, they didn’t. 🙂
Even though this is a bit different often times I have a person ask about the .com, it is outside their budget, so I offer them the GTLD for what is in their budget, and they decline… happend more than a few times now, I just don’t think gtlds are investment friendly.
Good sale, and good example of why most investments in new extensions are not sustainable.
$72 a year renewal fee vs $9 a year renewal fee. Good luck with a large portfolio of those.
Highest renewals + lower demand is a losing business model.
Nice story, thanks for sharing, congrats on your heads up approach.
We can see why Rick Schwartz Backed away from his Traffic Conferences, that were being attended by GTLD Spammers promoting Their Digital Junk mail GTLDs as comparable to (.COM Equimoditty Platform Assets ) . JAS
Gratefully, Jeff Schneider (Contact Group) (Metal Tiger) (Former Rockefeller IBEC Marketing Analyst/Strategist) (Licensed CBOE Commodity Hedge Strategist) (Domain Master )http://www.UseBiz.com
Well someone snatched Hollywood.agency, nice one. Let’s see what they sell it for in a few years. 🙂
Did you even read the article?
Nice story, congrats Konstantinos !
I had an encounter kinda similar to this but versus a ccTLD – I wont share now as I still hope to sell, the g or the cctld …I wasnt as luck as you, the .com equivalent is priced like a Space X Rocket … ?
nice flip 🙂 and great name