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Thread: Selling a Website Only Because You Need The Money

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    britishguy's Avatar
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    Selling a Website Only Because You Need The Money

    Tell about your experiences of :-

    Selling a Website Only Because You Need The Money


    This is one of the must frustrating and painful experiences of the Internet

    You are out of cash – You sell a site that is doing well – Simply to stop you starving

    Then 2 months later the site is doing great and making the money each month you projected

    But You No Longer Own the Website !

    Damn it has Happened to us it HURTS!

    Post here your thoughts of the same or similar experiences


    Thanks

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    5starpix's Avatar
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    It was somewhat of a similar experience.

    Back in 2007, I sold an image hosting site that was making about $50-60/month. I sold it for $400.

    Two days later, I search google for my sites name and I see another sales thread for my site. So, I check it out; and the new owner of the site is selling. His starting bid was $400 and Bin was $1000. Some fool actually bought it for $1000. I sold it because I needed the money, but I only made $400. This guy re-sold it, and made more than me.

    I do sell some of my sites when I need the money, but then I see the site performing really well. Can't do much about it. If you go back to buy it, you will be paying much more than what you got for it.

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    britishguy's Avatar
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    Quote Originally Posted by 5starpix View Post

    His starting bid was $400 and Bin was $1000.

    Some fool actually bought it for $1000.
    I sold it because I needed the money, but I only made $400.

    This guy re-sold it, and made more than me.
    Thanks I know the Pain!

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    Kovich's Avatar
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    Maybe I'll start a website mortgaging system - like what you do in monopoly, but I'll charge a fee. :P

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    britishguy's Avatar
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    Quote Originally Posted by Kovich View Post
    Maybe I'll start a website mortgaging system - like what you do in monopoly, but I'll charge a fee. :P
    Gee thanks you are my savior

    Set it up real quick Kovich as I need to mortgage a site

    I will pay you a good rate for the mortgage

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    5starpix's Avatar
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    Quote Originally Posted by Kovich View Post
    Maybe I'll start a website mortgaging system - like what you do in monopoly, but I'll charge a fee. :P
    That's an awesome idea if you have capital. Although, its quite easy to get scammed. We should only allow reputable/trusted members.

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    Kovich's Avatar
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    Quote Originally Posted by britishguy View Post
    Set it up real quick Kovich as I need to mortgage a site

    I will pay you a good rate for the mortgage
    PM me the details.

    Quote Originally Posted by 5starpix View Post
    That's an awesome idea if you have capital. Although, its quite easy to get scammed. We should only allow reputable/trusted members.
    Right. That's why it's important to either screen the person, or make sure you're getting a good deal and that the site can be liquidated or made profitable should the site's original owner try and scam you.

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    britishguy's Avatar
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    Quote Originally Posted by Kovich View Post
    PM me the details.



    Right. That's why it's important to either screen the person, or make sure you're getting a good deal and that the site can be liquidated or made profitable should the site's original owner try and scam you.
    Maybe security mechanisms could be similar to gold pawning

    Pledge the gold the pawnbroker advances against the gold

    Then when you pay back the pawn cash and interest the gold is returned to you

    So say you pledge the domain URL(push URL) the pawnbroker pays you x dollars for the website, when you pay back the pawn cash + interest - the pawnbroker then pushes you back the domain URL

    COME ON KOVICH SET UP THIS SERVICE

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    Kovich's Avatar
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    So say you pledge the domain URL(push URL) the pawnbroker pays you x dollars for the website, when you pay back the pawn cash + interest - the pawnbroker then pushes you back the domain URL
    That's exactly what I was thinking.

    And yeah, I think I'm seriously going to start this idea... it's pretty good. What's a good interest rate, though?

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    britishguy's Avatar
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    Quote Originally Posted by Kovich View Post

    And yeah, I think I'm seriously going to start this idea... it's pretty good. What's a good interest rate, though?
    Maybe same as pawnbrokers charge rates which is above BLR but is still a good deal

    So and if your due diligence is correct the website should increase in value during the pledge timeline ...........or at a minimum meet it's initial pledge value

    That substantiates why the pledge cash will be repayed and the URL returned to the owner who pledged the website

    Of course you will have defaulters as pawnbrokers have too

    But then you sell on the site 100% to cash back in

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