Kostantinos – Kostas, for short – over at OnlineDomain just celebrated his 10th anniversary as a member of DNForum, the largest online community for domainer professionals.
As a long-term domain investor from Greece, Kostas has experienced numerous instances where the other party is not fulfilling their part of the deal with integrity, honesty or ethics.
In today’s post titled “Bad Domain Business“, Kostas describes one such instance, related to email spam and a subsequent deal which is well worth reading.
Yes, that is bad business. Terrible, in fact. But equally as bad is the mindset conveyed in the responses. It is quite common for people who own domains to act like a domain name is the only asset known to man that cannot go down in value. The mentioned all his costs associated with the name during the last 12 years. So what? I hear this crap nonstop when making offers. They will say things like…..I paid 3K for this a few years ago, so I could never sell for less. Whatever.
You would think that these people would have a basic understanding about asset values. Each day in the world stock markets people are making offers for shares. Imagine someone owned a stock that they once paid $80 for, that went up to $120, but now trades at $30. The first two numbers are totally irrelevant to today’s value. They don’t have to sell, but they will likely NEVER get even.
How on earth can’t domainers figure out that their domains can be worth a lot less than they paid, and also a lot less than their highest offer ever?