Do you know the highest BIN (Buy it Now) priced domain that got sold? It is Links.com for €700,000. Unbelievable!
The above sale is just an example of a BIN sale which involves No negotiation, No back, and forth emails, No fake offers at all. And, domain investors seeing this trend have already put BIN prices on most of their premium and non-premium domain names. And, many are having successes also. For example, AutoFun(.)com domain name sold for $50K BIN by AbdulBasit.com which he reported on his domain blog.
Here is an interesting chart from Internetx.com and SEDO’s Global Domain Report – Showing the importance of buy now pricing
The above figures show Buy Now having a 61% share compare to another type of sales which are generally offer-based. Now, one interesting point is that the buyer or companies are willing to hit BIN for as high as €700,000 which is an awesome validation of BIN pricing strategies.
Now, the most important thing is how much Buy It Now price should I put on my domain names? And, the truth about BIN pricing is NO ONE has a clear answer. And, you think it was the right price only if it gets sold and if it doesn’t get sold for a long time you make changes.
The Links(.)com buyer validated the BIN by hitting the buy it now link. Because the company may have done all the research on values of domain names that are dictionary-based in the aftermarket. And, in order to avoid FOMO (Fear of missing out) hitting the BIN is sometimes is the most appropriate action or step taken by companies to secure the virtual asset they want without wasting time.