Best business decision whether to sell experimental website

[melinda_k]

Hello once again sitepoint community,

about our site l o v e s h o u t dot com - I've come here not too long ago, we needed help in understanding how to launch a site. However, we were never really successfull in making significant traffic to the site and there was a time that I wanted to put my hopes behind. Well, we got some really nice comments that the idea behind the site was very good, "ingenious" atleast 2 people even said - but the site remains dull......
To cut to the chase, about a week ago someone offered to buy rights to the site for $100. I thought to myself, this was a joke. A day later, the offer was up to $500 and only after a few minutes i got another email from the same - for what the person said was her final offer of $1,000.
Whew, i was ready to sell the site for $XXXXX but now im like "Hmmmmmm..." you know what i mean.. now im thinking maybe I do have something precious here but someone else is seeing an opportunity that I can't.
What would you do if you were me?

[LiquidReflex]

Playing the devil's advocate, to me it all sounds fishy. When you say the person first offered $100, then wrote offering $500 a day later ... was there communication between you two? Did you decline the $100 saying you weren't interested? Then after the $500 offer and a few minutes later received the "final offer" of $1,000, was there communication there? If not, then it's probably someone trying to just scam your domain off of you.

Nobody who is serious about buying your site is going to offer you $X and, before even hearing back from the person, double their price unless there was resistance or apparent competition. To me, it sounds like they're trying to make it sound too good to pass up so you'll quickly hand it over to them.

Personally, I would judge what you want to do based on what your motivation is. If you like your domain, enjoy working with it and will continue working at improving it, then I would not sell it simply because you could make some quick cash (if it's a valid offer). However, if you are losing interest in the site and would rather go in a different direction with your time, then maybe consider selling it. Whether I would sell it to that person or offer it up on a site like SitePoint's Marketplace ... I'm not sure.

If you do sell your site, just be sure that you use a 3rd party escrow service (like escrow.com) to ensure you'll be getting paid for it. Don't use some unknown escrow service that the buyer may offer either (since there are many who just create a fake escrow company website to look real). Don't transfer the domain to them until the money is confirmed by the escrow company as that is the vital part of the sale.

If you go through all that and the party is still interested in selling (and you want to sell), then go for it! Otherwise, take it as some motivation to improve the site and make it worth even more!

[melinda_k]

Thanks LiquidReflex for your inputs. Yes, there's communication between me and the interested buyer. I turned down the first offer ($100) because that kind of offer was just plain ludicrous. Received a 2nd offer, and that's when I started to give it some thought.

Fast forward to now... I have categorically expressed to my contact my desire to sell the domain and all rights to the site -- ofcourse IF THE PRICE IS RIGHT. I got a counter offer already and sorry I can not give any more figures from this point. I really appreciate your suggestions about escrow and all that, I hope all turns out for the best, whether I sell or keep the site.

You're right, the least I will get from this is a much needed motivation. ;-)

By the way, here's what puzzles me... they've not even asked me about any traffic statistics or any technical details about the website. Is this HIGHLY UNUSUAL???

[LiquidReflex]

By the way, here's what puzzles me... they've not even asked me about any traffic statistics or any technical details about the website. Is this HIGHLY UNUSUAL???

It is suspicious, but can't say 100%. If the buyer was interested in buying your entire site and continue along the same path you were on, I would assume they would want to know some stats. This is usually in the case where they are looking for a turn-key or established website to use and improve on.

However, if the buyer already has an idea for the website and is only interested in the domain name itself, the website and the statistics itself are not relevant. Whether this is the case or not, I cannot say.

[frox]

You might want to edit your post so that the domain name isn't directly searchable.

it might happen that the possible buyer searches for the domain name, finds this thread and reads your reflections (including "i was ready to sell the site for $250").

That wouldn't help you closing the deal :-)

[linkin99]

You might want to edit your post so that the domain name isn't directly searchable.

it might happen that the possible buyer searches for the domain name, finds this thread and reads your reflections (including "i was ready to sell the site for $250").

That wouldn't help you closing the deal :-)

Very good piece of advice. I would say it is strange that they aren't asking you for more details about the site. My thoughts are like yours in that the site or name has given this intrested party an idea that they feel so strong about that they just want to make sure they get this site from you. It's ok to be suspicious, but it could be a valid reason to this form of eager activity.

[melinda_k]

You might want to edit your post so that the domain name isn't directly searchable.

it might happen that the possible buyer searches for the domain name, finds this thread and reads your reflections (including "i was ready to sell the site for $250").

That wouldn't help you closing the deal :-)

There was pun intended on that line. But you're right, any person might take that literally.