Hello all my startup is looking to purchase 2-3 domains however they are parked and are up for sale. We've contacted the owners however, they are asking us to make an offer. Since we have zero experience in selling or purchasing domains to private entities so we have no idea where start set the initial bid at. We've gotta search stats on the domains and they are +1mm search volume per month. Is there some formula, system or site to valuate a domain value?
Thanks
Don't make the first offer. They'll probably give you a price higher than what you offer and they just want to see how much money you're willing to spend. You contacted them about buying some of their domains. Ask them how much they are willing to accept for the domains.
I was able to cut the price of the original quote almost in half when buying my domain because they gave me the price first and I responded with a final offer at a much lower price and said that's all I had in my budget for the domain name. It was a polite "take it or leave it" offer and they took it.