Thoughts

Andrew Miller

September 3, 2023

The Power of Patience and Strategy

Probably to the point of overkill, I often reference really key parts of our process and track record closing 7-8 figure domain name transactions. Terms like “marinate”, and “Zopa” (zone of possible agreement) are two of these. Last week, we oversaw the buy/sell side of Sweeps*com a few months after doing the same for Sweepstakes*com. This was a very strong sale for the seller, and also a big win for the buyer, who is developing a monopoly of category domains around their core business. We first showed the buyer the domain shortly after Sweepstakes*com, making a point of giving them a first look at Sweeps. They expressed an interest but did not make an offer. It took almost 5 months to pass by before they made the decision, on a strategic follow-up from us with some updates, to acquire the domain. Providing the domain some time to marinate in their minds, and establishing a clear zopa, led to a very fast deal when they were “ready to cook”. I say it all the time; just because you or I believe a certain company has to have a domain name and is crazy not to acquire it for millions does not mean they will do so. They need to know why they are acquiring it before they spend millions but once they are ready, then it comes down to realizing that and negotiating the right deal which, with domains, is art, not science. All of our domains are at HilcoDigital.com/domains

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