Okay, a new week is here so let’s open up a nice big can of worms and talk about one of the more polarizing topics in the domain name world. The question is – should you set BIN prices on your domain names when you list them on marketplaces like Afternic or Sedo?
Well, the alternative to setting a BIN price is to list your domain without a price and leave it to the prospective buyer to make an offer.
Overall I think the general way I’ve thought about these two options is as follows.
BIN – listing domains with a BIN price could allow you to sell domain names faster in some (but not all) cases. At the same time, it’s safe to say that if someone does buy your name for the BIN, you probably left some money on the table.
Make Offer – listing domains without a BIN price could mean that takes longer to sell your domains. The thinking here is that a buyer might think the domain is out of their price range and just pass on making an offer in the first place. At the same time, it’s generally thought that if you don’t set a BIN, you can get a higher sales price for your domain.
So what do I do? Well, as a quick reminder, I’m a small fry when it comes to domain sales so don’t look for my advice here. There are a LOT of full time Domainers that have a lot more data and experience here and I’m hoping some of them share their thoughts in the comment section below.
For me, I take a blended approach. Domains that I think wouldn’t ever sell for over $10k, I typically list with a BIN. Domains that I think could sell for over $10k I list without a BIN. My thinking here is that there’s a segment of my domains (i.e. those under $10k) that I’d rather sell quicker vs. waiting around for the perfect buyer, since I don’t think I’ll get that much more if I wait longer.
For domains that I think that I might be able to sell for over $10k, then I’m willing to wait longer since selling for $30k instead of $20k makes a difference.
So there’s my take, now I’d like to hear from you. What do you think about listing domains with a BIN price vs. Make Offer? I want to hear from you, comment and let your voice be heard!