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I'm wanting to have a domain name for my business that has already been registered by someone but that he is not using. He is offering it to me for $1000 (which is too much for me) and I offered him the sum of $300, which he is not interested in. How do I convince him to sell me the domain for a lesser price?

As per my findings, that name is also occupied at social media sites, and the .org domain name is also occupied.

Edit

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This is what I am planning to write to him:-

After a long thought, I have reconsidered the offer for you for this domain. I understand your expectations. I can pay you something like 500USDs as compensation and I think it is a fair now. There has been sale of similar domains around this price range. And this name is already occupied at several social media sites too & other domain extensions are also occupied so the things are not that easy with this. I have stretched it out beyond the maximum I could pay for any domain. This is my last attempt to negotiate for this deal, with my best offer, as I think it might be offending you to take this further.

I would request you to give your approval now to make this deal successful.
Give it a thought and let me know..

Let me know how I could make it better..

Edit 2:

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After having sent him an offer for 500$ 3 days ago, I have just received back a response from him, after 3 days, saying "750$ & its yours!" but I just completed the purchase of another domain for 400$, a few hours ago :(. Now his email that could have filled me with joy is now not making me happy because I have already paid from my budget. Assuming I am still interested in this domain but not at the price that I put previously(500$), how should I take this further? I can now only pay 200$(& that already makes me overbudget) for buying this another name.

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There is a really good question and answer on here already with links to great resources about buying domain names. answers.onstartups.com/questions/11552/domain-name-acquisition Also, this article is invaluable: fourhourworkweek.com/blog/2009/02/27/… – Susan Jones Feb 13 '12 at 12:38
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You can show him a contract and assure him that either his signature or his brains will be on that paper. Bring Luca Brasi to help you. If that doens't work, the old horse's head will do the trick. – TimJ♦ Feb 13 '12 at 17:04
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Do not try an put yourself in his position or comment on what is "fair". Fair to you may not be fair to him. Keep you offer simple, firm, and let him know this is your best offer. Expand on something like: "Thanks for your offer on this domain name. The absolute best offer I can make for this domain is $500 USD. There have been a number of similar domains for sale that have sold at this price point. If this isn't acceptable fr you, I will have to move on to my second choice." – Gary E♦ Feb 13 '12 at 17:07
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I agree with Gary - I was going to write something similar and even state that if I received your counter offer the deal would be off - even for $1000. Period. I realize English might not be your first language, but it doesn't sound right to a westerner/native English speaker. Negotiation is very culture dependent and you are better off (IMO) being succinct and not adding most of what you wrote. Also remove directives - like "give it a thought" and "let me know" - those don't sound good to me. HE has the power - not you. You want something he has. – TimJ♦ Feb 13 '12 at 17:34
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The only power you have in this negotiation is the power to walk away. You need to state that power and be prepared to follow through. – Gary E♦ Feb 13 '12 at 17:52
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4 Answers

up vote 7 down vote accepted

He is offering the domain to you for $1,000 and you have offered him $300, and thus we know the current value of the domain is somewhere between $1,000 and $300. So you have several options:

  1. You can negotiate with him to see if you can find a price that is agreeable to both of you. In the US, watch a number of episodes of Pawn Stars to get a feel for price negotiations (haggling).
  2. Make an offer, then wait some period of time and see if he is willing to lower his price. Of course the value of the domain could stay the same or go up (or be sold to someone else).
  3. Tell him your absolute maximum price and if he won't agree to it, move on to a different domain name.
  4. See if he is willing to take money and something else in barter for the domain name.
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I have added (to the question) my response to the seller based on your suggestions. Please let me know how should I make it better. Thanks for your tips. – Aditya Feb 13 '12 at 7:55
From my experience with domain sellers, if you want it, you have to pay something around their number, not yours. Point 3. is usually the last email one exchanges... – Fernando Martins Feb 13 '12 at 10:47
@GaryE: There has been a sudden twist in the story, you all may be interested in seeing my edit2. – Aditya Feb 16 '12 at 6:13
up vote 3 down vote

Don't say "something like 500USD", give a specific price, as you want to avoid going around in circles.

Really you will reach the stage where you give your final offer and you're prepared to walk away.

Gary E gives some good options, so +1.

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There has been a sudden twist in the story, you may be interested in seeing my edit2. – Aditya Feb 16 '12 at 6:10
up vote 1 down vote

The seller split the difference between your $500 offer and his $1000 asking price. A common practice in US style negotiations. But with the purchase of the other domain and the reduction in your budget you will probably not be able to complete the transaction at this time. Depending on how badly you want the domain name and if you are still willing to spend the $500 you might be able to negotiate a purchase over time. If I were in your shoes I would try this: "Thank you for responding to my inquiry. I appreciate it. However, While I was waiting for your response I found and purchased another domain. Unfortunately, that means I now have only $200 left in my domain name budget. I would still like to purchase your domain but I will need to make the purchase on a payment plan and $500 is my best offer. If you are interested let me know and we can work out the details - say $200 now and $100 per month for the next three months. If not, no worries. Thanks you very much for getting back to me. Best Regards, ..." Anyway, that's how I'd do it. :-)

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up vote 0 down vote

I also believe your best shot would be to just put your offer on the table, but then act as the deal is already made! "Lets do this" "Im ready, are you?" if he is still negative, then let him know you are done with negotiating and give him a deadline! If no response then you really need to move on... He is always go back and regret it;)

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If the name is popular enough no he won't. – Karlson Feb 12 at 14:29

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