For the 2nd story, I interview Eric Borgos of Impulse Communications Inc. Eric is well-known in the domain industry, and his company also owns a large portfolio of websites.
Q: Who are you and what is your business? How long have you been domaining? Website?
A: My name is Eric Borgos and I am the owner of Impulse Communications, Inc. I have been buying and selling domains since 1995. My website is at http://www.impulsecorp.com.
Q: Which domain name is this story regarding?
Q: How and where did you acquire the domain?
A: I bought weights.com at a Sedo.com auction back in March of 2012. I thought it was a good deal even though I had no plans for the domain, and I figured I could always sell it for around what I paid for it if things did not work out.
Q: How much did you pay for the domain?
Q: How did you sell the domain? Marketplace? Forum? Direct email contact? Tell the story, including your negotiation strategy. More details, better.
A: I sold the domain at Flippa.com, although it was through a broker who handled the listing for me. I had bought and sold sites on Flippa before, but this broker has a special deal with Flippa where gets all sorts of premium listing benefits (like a mention in the Flippa email newsletter), so I decided to use him. I also had it listed with several other brokers before this, but never had any good offers. I put the Flippa reserve at $40,000 and it did not sell, but a buyer who passed on the auction ended up making a bid a few days later after the auction closed, because Flippa has an online form for this. He regretted not buying it, and changed his mind. Since I had not been able to sell it for what I had hoped, at this point I was willing to take less. A year earlier I had also had tried setting up an article type website on Weights.com, but that made no money, so that was another reason I was eager to sell it.
Q: How much did you sell the domain for?
A: The broker negotiated back and forth with him, and I eventually sold it for $36,500.
I paid a 20% commission on the sale (10% to Flippa.com, 5% to the broker, and 5% to a co-broker), so I only netted $29,200. I was fine with taking a loss on it though, because at least I had the opportunity to do everything I wanted to do with the domain (trying to flip it and develop it). It was worth a lot less to me now than when I first bought it, so I was willing to take a lower price.
Want to share your domain sales story? Let me know.