That offer you just got for your domain is the highest you’ll ever get
Friday, October 19th, 2012
Ever reject an offer that you wish you would have accepted?
Have you ever turned down an offer on one of your domain names only to kick yourself later?
Domain investors often talk about “domain sales regret“, when you sell a domain that ends up selling for more later.
But I think the opposite is more often the case. You turn down an offer on a domain, only to wish later that you would have accepted it.
I can think of a couple cases off the top of my head. One in particular was MusicPhones.com.
Back in 2007 I got a nice offer for the domain name. But back then the term “music phone” was hot. Samsung had a commercial promoting its newest music phone and used the exact term in its commercial.
Given all the hoopla over phones that doubled as mp3 players, I turned down the offer.
Fast forward five years, and the term music phones doesn’t really mean much. Most phones are smartphones, and most smartphones play music.
In that case it was a change in technology and terminology trends that let to a drop in the value of my domain.
Another example is when you overpaid for a domain, realize it later, but are reluctant to take a loss.
I bought a domain name in an auction in 2007. A lot of people overpaid for domains in 2007, and this domain was no exception.
A couple years later I got an offer for close — but not quite — my purchase price. I turned it down.
Will it ever recover in value? Perhaps.
But I was talking to someone else the other day who has regretted turning down offers on domains because it would have resulted in a small loss. The person later sold the domains for an even greater loss.
It’s hard to take a loss, but sometimes our psyche makes us lose more money.
Oh, and that post I linked to earlier was about the domain camroulette.com. Talk about a domain that’s seen its value swing wildly!