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How much for my website?
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Kathy Purdy
Jedi
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September 11, 2015 - 1:35 pm
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Someone has offered to buy the domain name and content of my website YourBlogHelper.com. They haven't named a price and I am wondering how much to ask for it. There are 26 posts and 21 pages. A lot of the content is out of date. The last post was written in January of 2011. The prospective buyer says "I've two plans with the site: A) Build a bigger WordPress help service on your domain B) Use your written blog posts for other sites." So I am wondering if there is any rule of thumb regarding determining a fair price for a website? Are there any questions I should be sure to ask? I don't even know how such sales are arranged. I assume we will have a contract. What kinds of things should be in the contract? (I know, consult a lawyer for that.) Somehow we will have to port everything over to his server, right? Any advice would be appreciated

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Keith W Jones
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September 12, 2015 - 4:17 pm
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Have you considered:

Can I use Thesis on sites for clients?

Yes! If you have a Thesis Professional license, you are eligible to purchase Client Site Licenses for each client site where you’d like to use Thesis. Depending on how many licenses you choose to buy at a time, the price ranges from $32–$40 per site.

A Client Site License enables you to use Thesis on one site for your client, and it does not provide your client with a DIYthemes.com account, support access, or members-only forum access.

Keith

Keith W Jones
Make sure you backup before upgrading and making changes.
Best results when one question per thread, link to site, version of WP, Thesis and skin.
http://www.kwjassociates.co.uk - Wordpress 5.1.1 – Thesis 2.8.5 - Focus

 

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Pierre Cote
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September 12, 2015 - 4:30 pm
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 Hi

Someone has offered to buy the domain name and (database) content of my website

Keith, I think the question here is how much this (specific) Domain Name is worth. The buyer won't necessarily use Thesis.

There's many Auction sites for this (one example) : https://sedo.com/us/

Pierre ( postrophe )

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Keith W Jones
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September 13, 2015 - 12:58 am
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They seem to have an app for everything:

Click Here

Interesting result.

Keith

Keith W Jones
Make sure you backup before upgrading and making changes.
Best results when one question per thread, link to site, version of WP, Thesis and skin.
http://www.kwjassociates.co.uk - Wordpress 5.1.1 – Thesis 2.8.5 - Focus

 

*** Biggest cause of problems is now the cache, whether it is a plugin, the browser or your host's server. ***
*** Do not edit Skin and Editor CSS - make changes using Custom CSS. ***
*** Do not edit core files - make changes using custom.php or master.php. ***
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Carolin
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September 13, 2015 - 11:08 am
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I am certainly no expert on the sale of domains, but I have personally been involved in a few domain sale transactions in the past, as a seller. Also many years ago, when I worked for a venture capital fund company I observed a number of domain buy and sell transactions, some more successful than others. Some things I remember which might be helpful, based on my own experiences and observations. So I am going to jump in here and give some thoughts that perhaps may be of some help.

It seems in your case that the potential buyer is interested in the actual domain name, not the content, traffic or the platform the current website is created on. Since the last content was updated in 2011 and as you say, it might not still all be relevant, they are not trying to buy the actual content, or the traffic. Also it seems completely irrelevant that the current website/content exists on Thesis, or any particular platform, or hosting space.

- There are services/individuals/apps who advertise they will tell the seller the 'market price' for a domain (for a fee), some seem legitimate, but some are a bit 'scammy'. While they can run comps, and info that will show what other domains have been selling for, a domain sales price is pretty much going to come down to how much a domain is worth to 'the person/buyer who wants to buy it'. Personally I would not rely on one of the app type services to be really accurate.

- Your post says the potential buyer has not named a price.  It sounds as though in your case you have not already been trying to sell your domain on one of the domain auction sites, nor otherwise been publicly stating a sales price.

My experiences in cases such as this, (when the domain seller has unsolicited contact from a would-be buyer), are that whatever amount a buyer initially says they will pay for a domain, it is likely the buyer may be prepared to go higher --  if they truly want the domain. Getting the buyer to give the seller an opening price/bid gives the seller some idea if the buyer is going to be anywhere in the $$ ballpark near to what the seller would want to accept. It is all a negotiation.

Just to give an example of why I say it is important to get the would-be buyer to give the seller their opening bid, before the seller tells the buyer any $$ number -- several years ago when I was with a venture capital fund firm, there was a company/buyer who decided that their marketing/brand needed a particular domain name. The company/buyer reached out to inquire about purchasing the domain from the owner. The company/buyer asked the domain owner/seller if they would sell the domain, and at what price. The current domain owner/seller right away told the potential buyer $200.00. The company/buyer wanting to make the domain purchase had been fully prepared to pay up to $30,000.00 to acquire the domain. But once the domain owner/seller said their price was $200.00 right away , that was what the domain sold for -- $200 ---- nowhere near the $30,000.00 that the seller would have been prepared to pay.  So it may be very beneficial to get the would-be buyer to say what their opening bid is, before the seller names a price they would be willing to accept.

- Definitely it can be a good idea to have a contract put together by someone who is either a lawyer, or someone at least who fully understands the legal issues of the transaction. Plan if the ultimate transaction price is significant there may be a confidentiality clause included. And a seller may want to consider a clause to hold the seller harmless if there is later any legal issues that arises regarding the domain/contents, after the new buyer has acquired the domain/content. An attorney should be one who specializes in intellectual property and the Internet market - not an attorney who specializes in family law, or real estate, or some legal specialty unrelated to the Internet and intellectual property. The costs for paying for the attorney, and getting the contract drawn up can all be a part of the final negotiated price, ie 'party x' pays for legal costs', or 'the legal costs are being split between parties x and y'. If the transaction is going to be particularly complicated, or of significant value, then each side of the transaction - the buyer and seller - may need their own attorney. Usually I have found that the rates for a good intellectual property attorney can be a bit expensive.

- Use a 3rd party escrow service that specializes in domain transfer to handle the money and actual transfer of the domain. Having the 3rd party escrow service is much more secure (for both parties) than trying to finalize the transaction using PayPal, certified check, credit card, or some other method of payment. The service I have used in the past was Escrow.com. But there are other firms, such as Sedo.com, and others as well. Transpact.com is said to be a good choice if the buyer and seller are in different countries and there are different currencies. These escrow firms all charge a fee - some more than others. Some of the escrow services are more 'hands-on' than others. Some will only get involved in the domain transfer, and not have anything to do with the content. Review them all and decide which best suits you. Depending on where the buyer and the seller are located, some of the escrow services may not be allowed to handle the transaction due to the regulations/laws surrounding escrow services in a certain locale. Search for one that best matches your needs. The party who ends up paying the escrow/transaction fees can get the fees built into the agreement. It comes down to whoever was able to negotiate the best deal, be it the buyer, or seller. There may be additional fees, in addition to the escrow fee, such as wire transfer fees, etc, depending on where the buyer and seller are located.

- For the actual mechanics of getting the domain to the buyer, this may vary a bit depending on where the seller currently has the domain registered, and where the buyer wants the domain to be located. As an example, if the seller has their domain registered at GoDaddy, the buyer can establish/use an account there if that is where they want the domain to end up, and the domain can be "pushed" to the buyer account, through the escrow process. If the buyer wants the domain to end up at a different domain register, other than where the seller has an account, I am recalling there are a few more steps, but it can get handled through the escrow process. The actual content can be handled via exported website files - such as a BackupBuddy file, or other file exports. These would be some issues to write into the agreement. Some of the escrow companies handling the transaction will have tips and guidelines about these issues to keep the transfer within the scope of the escrow process, but some of the escrow firms leave the actual content transfer to the individuals (anything other than the domain itself).

- Also if considering making a domain sale, it is a good idea not to make any edits to the 'Whois info' on the domain records right now, such as deciding to clean up the contact info, etc, at least until researching current issues regarding ICANN policies, and any policies of the ISP holding the domain which is to be transferred, regarding a 'transfer lock'. Making changes to the domain right away may affect the timing of when the sale can be executed. I think some of these issues may have changed since I was last involved in a transaction, but last I remember there was a 60 day rule about making domain changes in Whois and then moving a domain to a new owner.

- Depending on the $$amount of the transaction/sale, the seller will want to also get their accountant involved early in the process so the seller is not suddenly surprised as to the amount of taxes that they may owe. Depending on the amount of the sale, the sale of the domain/website property will be taxable asset which may result in capital gains taxes for the seller, if they are a US citizen. I have no idea about the tax implications for other countries. Your personal accountant can best advise how to handle that aspect of the transaction.

Again, I am certainly not an expert about domain sale issues, and there may be some issues which have changed since I was last involved in a transaction, but I am aware of some of the questions and issues you may want to think about.

All the best in your transaction.

Carolin Benjamin WordPress Design & Consulting

Provide ‘white label’ support to web and advertising agencies that need extra help from time to time -
Also consulting, design & web construction for businesses, non-profits & sole-practitioners

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Kathy Purdy
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September 13, 2015 - 2:19 pm
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Thank you Carolin for your detailed reply. I had attempted to learn about this by googling but you brought up some points I hadn't come across or considered. I really appreciate you sharing your experience.

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Pierre Cote
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September 13, 2015 - 2:29 pm
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Hi

Kathy, you might want to ask on the "diythemes" forum, since I think Godhammer has some experience with this.

Pierre ( postrophe )

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