In a email sent out to domain holders on the JointVentures.com project, the Domain King Rick Schwartz announced that he just closed a deal on a hand registered domain name which will return him over $250,000 over the next 8 years
“”I have also just closed a deal this morning with a domain that I hand registered in 2002 and have an 8 year deal with. The total value of those payments are in excess of $250,000.””
“In my blog post I will explain how I came up with my numbers and why it was so attractive to them even through at $250,000 they own nothing.”
“It’s pretty simple. Do you pull out $1M cash out of your pocket or do you pull out $1000 out of your pocket. The result is the same. You get the domain name. One you are all in. The other, if it does not work out, you walk away in a few years. It’s just a smarter approach”
Congrats to the King
His thought process is genius. I recently wanted a local vanity number that was (XXX) We-Cater. The phone company had a minimum per month to get it of $400. We transferred all our phone lines to this company to get it. Like property management, I hope Sedo or another company moves into the business of managing leased domains vs just a percentage of sales..
Leasing and Financing is always good.
In 2006, I sold “Modulars.com” for a six digit figure. I financed it with interest for the buyer at a 15 year term. 3 years later the buyer pulled out after already paying me six digits in interest, yet not paying off the loan. Now the domain is mine again.
Congratulations to Rick. I look forward to hearing the details. Way to go.
As a student of all deals – I would not expect anything less from the negotiating guru