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I was trying to buy a domain and it backfired on me….

In addition to my work as a domainer and an IT professional, I am also a DJ. I specialize in Techno, Breakbeats, Electro House and Dubstep. I also occasionally play top 40 music, but only when it pays well at one of the local bars or clubs.

I currently own some awesome music names that I don’t think I would ever give up, like MP3s.co, Dubstep.co, Breakbeats.co, ElectroHouse.co, ElectronicMusic.co, BeatsNow.com and so on. I also owned a record store called EkRecords.com and still have EKMP3.com up and running selling the latest beats for your music pleasure. A few months ago I became aware of a new genre called DrumStep which is a mixture of Dubstep and Drum & Bass. I currently own Drumstep.co, .info and .us. The rest of the decent extensions are taken. Here are some examples:

DrumStep: http://www.youtube.com/watch?v=WWNnBpuZMuI With 450,000+ likes it’s definitely up and coming!

Drum & Bass – http://www.youtube.com/watch?v=tDE8q9YKC6Q

DubStep – http://www.youtube.com/watch?v=LXO-jKksQkM And you
better believe this is possibly a huge money making opportunity with just this video alone having over 50 million views.

So with my knowledge of music AND domaining, I decided that I wanted to buy DrumStep.com. I made an offer for the domain but received some pretty ridiculous correspondence. So I’d love to hear
your feedback on this email exchange.

Here is my email to the domain owner:

How much for this domain name?
David

Dear David,

We did have plans for using it. But not now.

I need to talk about it (here).

I think we can sell it.

Costs will perhaps be around 5-10k euro. No promises.
I need to look into that, too.

—— Name blotted out to protect the innocent

—–,

Thank you for the fast reply. I can offer $500.00 USD tonight.
Thank you,
David

Hello David,

I’m sorry to tell you that the domain name is not for sale.
It is much more worth than you can pay at the moment. Sorry.
—–

—–,
How much more? I may be able to reach your expectations.
Thank you,
David

Comment – this may have been a bad negotiating technique. I
basically put the ball back in his court if it was ever even in
mine… lol.

Hello David,
We made a rough calculation:
Say you have 20 spontaneous drumstep.com visitors per day – about 7300 per year.
Say one in a 100 buys a drumstep – you sell 73 (extra) per year with
the domain name.
Say you make a profit of USD 150 per drumstep – extra profit per year
with the domain name: USD 10950.

Say you go to the bank for money to buy the domain name.
Then you pay interest to the bank.
Say you invest 1/3 of the extra profit in paying the bank – USD 3650.
Say you pay 6% interest.

Then the domain name is worth:

USD 3650 / 0,06 = USD 60833 !

PLUS: this worth will increase over time you use it.

PLUS: you may attract much more visitors by use of search engines.

PLUS: these customers may return…..etc etc

So: that is why we think we better not sell it, or not for less.

I did not know this – I learned it this week.
We bought the name years ago to use it – but over time focus changed.
Now it has become a sleeping investment so it seems.
If you check for example at www.sedo.com you find that this is reality…
(or perhaps you are a domain name broker??)
We may try to sell the name in the market to know what it is really worth.
I let you know.
Best regards, —–

Now understand that as a drummer and a DJ I have never heard of a
product called a “drumstep.” And, it’s quite clear that the grammar
and structure is created by someone or something that isn’t
particularly skilled in the English language. At first I thought
maybe they were meaning a bass drum kick pedal. But, now it seems
pretty clear that this guy named —– has many product domains and
has an auto responder that sends auto generated emails in an attempt
to negotiate for him.

So, let me know your thoughts on this issue.

4 Responses to I was trying to buy a domain and it backfired on me….

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