How Should I Respond If Someone Wants To Buy My Domain Name?

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A marketing company wants to buy a domain name that I registered last year because they have a client that wants the name and have plans for it.
I also have plans for this domain as a sports portal. The word ‘…guide.com….’ is part of the domain name. I have created a business plan for this site and have developed a CMS to manage the portal.
Any ideas of how I should respond to this marketing company? I had a similar offer months ago and my reply was simple “How much do you think its worth?” then I did not receive any email replies from them.
I want a good reply this time and hopefully a good dollar figure.
How should I respond or reply to this offer to buy my domain?

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"How Should I Respond If Someone Wants To Buy My Domain Name?" was posted on Saturday, August 1st, 2009 at 8:28 am.

2 Responses to “How Should I Respond If Someone Wants To Buy My Domain Name?”

CFXCreat(2009-08-01):

It may be wise to approach a firm that specializes in domain name appraisal to ensure that you know what’s a reasonable expectation of value. Also, if you’re not a strong negotiator, perhaps it’s also a good idea to get in touch with someone who is used to brokering domain name deals to advise you.
Also, I guess it depends on whether you could easily pick up another domain to replace the one you have that you could use for the business plan you have put together and the work you’ve put into it. If it’s a matter of finding a similar name and there’s something available which is close enough to still work effectively, why not register what you can and try to negotiate a good price for your name and then use the money you will get for your existing name to build the business?
The bottom line is that you need to know what sort of figure you would be happy with once the deal is done and make sure that’s what you get. The days of the zillion-dollar domain deal are long gone, but you may be able to get a reasonable price if you have a strategy in place and know what you’re looking to get for your name. Also, when you start negotiating, have a walking-away plan in place, too so that you don’t feel pressured if the deal isn’t what you’re looking for.
Good luck!
king_art(2009-08-01):

demand double what you paid for it since they now wasted your idea plans and not to mention your time