BINs taking away part of the fun

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Over the past few years, I have found investing in a domain a little less fun than it used to be. Business has been pretty good in recent years, so it’s not about the money that has made it any less exciting. I couldn’t really pinpoint the problem until I spoke with a friend this morning.

I realized that my use of the Buy Now Price (BIN) on over 90% of my wallet makes this activity less fun. I have almost all of my inventory listed on Dan.com and GoDaddy with the BIN prices. After having the best sellers last year and the first half of the year on fire, I removed the Make Offer feature on almost all of my Dan.com listings under $ 10,000. People can either buy the domain name at the list price or buy it through a payment plan.

The result for me was a lot less negotiation, and that made this case a little less exciting.

Previously, my domain names were listed for sale through Afternic / GoDaddy, and the landing pages were all on my Embrace.com application forms. There were a lot of tire shooters, but even the discussions with these people were interesting. I still use Embrace.com for all of my high end inventory, but there is less negotiation these days due to BIN listings.

One of the advantages of my BIN lists is that I don’t have to get involved in these negotiations. It saves me time and energy by not having to deal with potential buyers for lower value offers. They can buy the domain name or not without discussing it with me. It gave me more time to spend with my family. For example, I pick up my kids from school every day and twice a week, take my daughter to soccer training and play soccer for an hour and a half with my son. I am not tethered to my phone to respond to purchase requests.

I have tried to understand why the day to day investing activities in the field are not so fun or exciting. I think it’s because I’m less involved in selling my domain names than before.

About the Author: Elliot Silver is an Internet entrepreneur and publisher of DomainInvesting.com. Elliot is also the founder and president of Top Notch Domains, LLC, a company that has sold seven-digit domain names in the past five years. Please read the DomainInvesting.com Terms of Service page for more information on the publisher, website comments policy, disclosures, and conflicts of interest.

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