Last week, I was making some end user sales calls for a domain I owned that was about to expire. I was trying to sell it for mid $xxx, but was not having much luck. On my last call I left a message with an assistant figuring I would never hear back. Then, two days later I get a call from the owner of the small business asking how much I was going to sell it for. They first offered to buy it for registration fee, which was a bad sign.
I wanted to sell the name and really did not have plans for it so anything was better than nothing. We ended up agreeing on a price a little over $100, which I was not thrilled about but I figured I had made a little money after owning it for a year. After the sale, I searched in my email and found out I had bought the domain for $15 more than I sold it for at Godaddy auctions. I was mad that I had not checked before trying to sell the name or that I did not keep a record of my acquisition price
I know that these numbers are not huge and $15 does not matter much, but for bigger sales it would make a difference. I recently added a new column to my domain spreadsheet labeled “Acquisition Cost” so that I can keep track of what I paid for a name. I pay less than $75 for most of my domains, so for the few I have paid more for it is good to keep track.
The good news from all of this is that the transfer process went so well, the buyer has hired me to provide content for his company blog through College Copywriters. I will end up making much more from this than the domain sale. This is not the first time I have been hired by a domain buyer, and it is just another reason to make sure the transfer process goes well. At the end of it all I always try to ask buyers if they need any help with their website.
Learn from my mistake and keep track of your purchase prices when selling.