Recently a buddy of mine tried to sell me a TV wall-mount he didn’t need anymore. He was asking $100. I told him I can buy a brand new one for half that price. He got offended. He explained to me what a high quality mount this was, pointing out all of the features, told me it was $300 brand new. I explained to him that to me, it was a TV mount that holds a TV on the wall and nobody sees. I went as far as to explain that to ME, the difference between a $50 TV mount that holds a TV on the wall and a $300 TV mount that holds a TV on the wall is simply $250. Clearly, he was selling to the wrong person. He would be much better off to give it some time and find the right buyer; someone who understood the product they were buying, recognized the value, and wouldn’t mind paying the extra money.
Selling domain names is the same way. I’ve been on both sides of it in domain forums and in conversations with end users. Many a time I’ve inquired about a domain, only to have the seller give me a price that I wasn’t willing to pay. I will always come back with my own offer and almost always the seller will act as if I am crazy and spend a lot of effort trying to explain the value of the domain name to me. In that situation, I almost always kindly explain that I hope he finds the right buyer, but to ME the domain doesn’t have that much value.
When dealing with a domain inquiry, I don’t waste my time trying to explain the value of a domain. I figure if the person is actually interested in the name at the price it’s being offered for, I don’t have to explain the value to them. I also figure that if I give a price and the person acts astonished, I’m simply not going to get the money I want no matter what I say, so theres no point in explaining. I do understand that there are groups of small business owners out there that simply don’t understand the value of a domain, but at the same time that just tells me that they don’t understand a lot about business in general. Explaining the value of a domain is one thing, but to do that you have to explain marketing, advertising, how the internet works, etc. I feel the business owner should have a grasp of these things if they’re in business to begin with, otherwise they’re probably just some guy that says he’s starting a business but only has a $200 total budget to do so (these people do exist, all over the place, trust me).
So the next time you have a domain name you are receiving inquiries on, or selling at forum, simply look past the people who don’t grasp the value of the domain and wait for those that do. It’s those that you don’t have to plead the value with that will give you the money you want.