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[#84]
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If you are here and reading this then it is probably moot, but I wanted to share the details of our move from the unistellar.com domain to the risetvp.com domain.

The law firm representing the buyer originally contacted us in April offering $1000 for the domain name. I think our response was something to the effect of "are you missing a couple zeroes?" and that was the end of it. The whole thing was really a joke.

In June they came back with $10,000. That got my attention but pretty quickly added it up and found that would be _below_ what it would actually cost us:

  • Both the corporate website (www subdomain) and the Rise game (rise subdomain)
  • Indexed links on search engines
  • Paid advertising
  • Mailboxes (a total of over 500 with employees and families)
  • Hundreds of accounts at vendors
  • Thousands of player accounts
  • Social media presence like our @unistellar Twitter account which cannot be sold

And, once we started digging, we found we were not out-of-line to ask for upwards of $30,000 even though the domain name was pretty unique and not especially short. But for this company (who started using Unistellar without doing a quick search to see if the domain was available) to re-brand after a multi-million dollar Kickstarter campaign could easily be upwards of $50k.

I think maybe the firm came back in August with $15,000 but we rejected it. That firm was then apparently fired and they hired a digital marketing expert in October. He reached out early this month and we reached a deal. And the takeaway:

  • Online appraisal sites are completely worthless (we were given multiple appraisals at and below $1000)
  • Use an escrow service that specializes in domain names once you have a deal
  • Look at the sale as an opportunity to refresh your own brand, reduce clutter, and simplify
Posted by reskin (administrator) on 24 November 2019 at 14:39.