I submitted my first domain name studentloancenter.com to Toby Clements’ newsletter (website forthcoming) since he took over 100% of it from Rick Latona and it’s database of more than 15,000 subscribers. The newsletter by the way, includes Fortune 100 companies and end users.
I also made my first sale to SimpleTuition Inc., a company that launched in 2006 and offers tips, advice, interactive tools, and deals to college students.
My asking price of $5,000 for the domain in Toby’s newsletter was also my sales price. I acquired the name on NameJet in 2008 for $2,100. I had plans for the site, but changes to student loans came along and I no longer wanted to operate a student loan website, so I finally decided to try and sell the name by submitting it to [email protected].
Whether you think the sale of studentloancenter.com is a bargain or not for the buyer (and think I could’ve sold for alot more), one thing that I can tell you is that I had the name up for sale online before and couldn’t seem to get a bite that would go past an inquiry and lower-than-expected offer.
That is, until I listed it in the newsletter.
The newsletter approach has become increasingly popular among buyers and sellers of domain names, and it’s always been the most effective way for me to sell domain names, particularly with Toby Clements (who helped broker and facilitate several domain deals for me in the past).
Mike Bowden (who helped me complete the transaction) and Toby are both easy going and great to work with and kept me informed each step of the way.
For those of you interested, the rules are very simple, if your name is accepted, you will be under a 30 day exclusive from the last day the name is ran in the newsletter. If your name sells, you’re a 15% commission of the selling price or a flat fee of $250.00 (whichever is greater).