Selling a domain name can be a great way to make some extra money, but it does require some strategy. Here are tips on setting a price, finding a buyer, and negotiating when selling a domain name.
Setting a Price
The first step is determining a reasonable asking price for your domain. Check sites like NameBio and Estibot to see the sale history and estimated value of similar domain names. This will give you a ballpark figure when pricing your domain.
It's best to set a fixed “Buy Now” price rather than hold an auction if you sell a standard, non-premium domain name. Auctions work better for premium names that may attract multiple interested buyers.
When setting your price, make sure to leave some room for negotiation. Price it around 20% higher than the minimum amount you'd be willing to accept so you have space to come down during negotiations.
Finding a Buyer
To find potential buyers for your domain name, list it for sale on popular domain marketplaces like Sedo, Afternic, and GoDaddy Auctions. These sites attract buyers who are actively looking to purchase domain names.
You can also try contacting companies whose name, product, or industry your domain relates to. For example, if you owned a pet store supplies-themed domain name, you could contact some pet stores to see if they'd want to buy it.
Building out a simple “for sale” page on the domain itself, including your contact form and asking price, is another option to allow interested buyers to contact you directly.
Negotiating
When you receive an offer on your domain that is lower than your asking price, negotiate politely to aim for a higher sale amount. Provide evidence for why your domain is valued at your asking price, such as similar completed sales.
You can start higher than your minimum acceptable price so that you have room to come down in negotiations. But also know your walkaway point so you don't go too low.
Using an escrow service like Escrow.com ensures you get paid before transferring ownership of the domain. This protection is essential when negotiating with an unknown buyer.
Selling a domain name successfully takes research and strategy. But take the proper steps for pricing, finding buyers, and negotiating, and you can likely turn your unused domain into cash.