BIN pricing is tricky. You need to set up prices at different marketplaces. And, it should be the same or have little difference so you don’t lose it due to unprepared and unplanned pricing methods.
For Doing BIN pricing right – These Tips are good
- Pick 100 domain names and put them in a spreadsheet and start pricing it. If you have a lot of domain names – still, go with 100 – one step at a time.
- Put prices in the spreadsheet and make sure the prices are at retail best. Not too low – Not too high – but just right for the retail sale.
- One or Two Digits: I find it good to use one or two digits rather than multiple digits. To keep pricing simple this is a good idea to limit the size of the digits to one or a maximum two. Here are examples:
- Under $1000 domains can be priced $999 | $599 |$688 |$888
- Above $1000 – $9999: $1999 | 2999 |3555 |3111 |8999 |4555
- Above $10000 – $10000 | $11000 $99999 $49999 $50000
Investors often lose money because of different prices at different marketplaces. Let’s say you have listed Example.com for $5000 at Marketplace ‘A” and $3000 at Marketplace ‘B” (you have put $3000 by mistake and you not updated it) – The buyer after doing the research gets the domain from market B.
So, in order to avoid the BIN failures – it’s important to keep BIN prices right at all marketplaces, updated from time to time. And, keeping the digits of pricing under 2 numerals or maximum to three.