Close Out Old Sales
A few days ago, I listed SSSN.com and PRRR.com for sale via Embrace.com. Unfortunately, the domain names were not sold, and I am happy to continue holding them until a buyer is willing to pay my asking prices. One important thing I did this morning was delete the sale post on Embrace.com. I think people should remember this step when conducting a sale.
I set up the sale page with buy it now links from Escrow.com. I think they make buy it now listings easier for buyers to execute quickly. The one downside is that I don’t think you can set up an expiry period for these links. For instance, if I list a domain name for sale for $5,000 today, someone could theoretically use the link to set up a transaction in 10 years from now. With the crazy market values of some domain names, it would be problematic if I give someone the ability to buy a name in the future at today’s prices.
When you use buy it now pricing on domain names, be it on marketplaces, forums, personal websites, or other platforms, it is important to close out old sales. Sure, it is wise to have a disclaimer about the sale prices (ie “offer valid for 48 hours”), but people don’t always look at those disclaimers. Even if you make it abundantly clear that the listing has a deadline, someone might still try to execute the deal and the seller would risk reputational harm if he or she doesn’t honor the sale.
I think it is important to close out old sales posts and to update marketplace buy it now listings. This is especially critical when dealing with domain names that have fluctuating valuations, such as short or numeric domain names. You may be in the right if you publish a sale deadline, but it makes sense to remember to close out the sales posts to avoid problems in the future.
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