General
Don’t be Afraid to Pay!
Mar
Most people I know love a bargain. Be it an airfare or accommodation, real estate or cyber property, we all like to think we are getting a great deal.
In recent times, the housing market has been so hot in various parts of Australia.
Haggling hasn’t been an option for popular homes or apartments because demand has far outweighed supply. The successful buyers were those prepared to make a quick decision and not afraid to pay a premium where necessary. Once the property had been sold, it was unlikely to come back on to the market again.
The same principle applies to good domain names
If you see a domain name that you believe could be perfect for your business or project, how would you feel if someone else acquired it because you were too busy trying to save money by haggling?
I’ve seen it happen time and time again over 20+ years. I’ve even been guilty of it myself!
If the difference between what the seller wants and what you’re able or prepared to pay is not astronomical, think about these significant points.
- Will the domain name add credibility to your business or project?
- If you achieved just one or two extra “deals, orders or service contracts” by having this domain, would that make your financial decision easier?
- How unhappy would you be if your indecisiveness or unsuccessful haggling caused a competitor to gazump you? That does happen!
- Could you ask the seller if you can have payment terms? Many sellers are often happy to help.
Then there is the Gucci promise
Gucci’s products are famously “not cheap”. They are a luxury Italian fashion house whose wares are revered worldwide.
I remember reading about their pricing justification many years ago, and it has always stuck with me.
Paraphrasing, they state:
“Long after the pain of the price has been forgotten, the quality still remains”.
That’s worth thinking about. Will your new domain name stand the test of time? If you think it will, then perhaps don’t haggle too much – or find a way to make it work for you financially.
