How I Sold a Website on Flippa Website Auction

by Tamal Anwar on Thursday, November 3, 2011

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flippa_logoLess than a week ago I listed a website for auction on flippa, I also wrote a post to promote the auction. Now the good news is the auction was  successful and I sold the site for $300. Now on this article I will describe the small journey to my first website sale, how I sold it and everything that will help new flippers to flip a website.

How I learned about Website flipping?

I learned about website and domain flipping 1 and a half years ago. I was very excited about flipping domains and established sites. Till then I have bought domains, built sites but it didn’t work back then. As a result I have a small inventory of domains and sites that are left alone in my account.

One year ago one of my blogger friend Mrjavo told me about a site called flippa. Flippa is a marketplace to buy or sell web properties. That time I didn’t had any websites or domains worth selling and I didn’t knew about the whole process.

The site you sold, was it meant for flipping purpose?

The site that I sold, is called a Complete Business opportunity “BuildBrandOnline.com” -I started the site 3 months ago. No this site was not meant for flipping and I wanted to build a business around the website and merge all of my other sites around it. I created a design, logo, build content, proposals, product for this venture and I was about to hit the market with my service… but until…

Both my blog and Business took a flight!

Meaning at one side the readership, engagement, ranks were growing here at BlogKori and on other side I was getting more clients on my web design business.

In short I was very happy with what I already have :)

It’s Now or Never!

The site is only 3 months old and no one can expect high returns at such time. The only way to do good was to let it go. I could keep the whole setup and wait a couple of years but who knows? Maybe I would get even busy to run that site. So this was the right time for me to sell the opportunity.

It was 2am (Fri, Oct 8, 2010) in the morning when I had the thought…

flippa feesI jumped off from my bed and opened my computer and went through Flippa. First I went through the whole thing to get a feeling how the selling is done. Logged in to my account and clicked “Sell A Website”

Here is the pricing details, you have to pay $19 as the listing fee and have to pay 5% success fee.

I set the listing as a “New Website” -because this one is new and I don’t want to fake it by setting it “Established Website” I also didn’t claim any revenue because the site is not making me any money.

flippa listing

On the next page I set a public auction. Each auction can run for upto 30 days, but I set this for only 15 days. The reason was to make it look like an urgent sale. I could even set 7 days, but I’m a newbie here so not taking any risk.

For the details I wrote a detailed description of what this site is about, why I’m selling and how the buyer can obtain the site and other things. As the title, I wrote “Complete Online Business Opportunity For Sale” -see, I’m not referring this as a website, instead I’m saying its a complete opportunity. There are 2 fields that ask for revenue and traffic details. For my baby site, I cleverly put some strong explanation that it’s a new site but it can bring in traffic and money with work.

You can take a look at the auction here

How Did I Set a Price?

It was a tough one for me and in my position. I mean how do you feel at 2-3am in the morning after working the whole day? I couldn’t think of anything. I set the starting price as $60 -because this was my initial investment while buying the domains for the site. So I put my work into the site aside, I just want my initial investments back!

There was another price that say BIN (Buy It Now) -I mean if a buyer wants to buy the site right away without going through the auction process, how much will be the price?

I though for a while…

Does the Website Value and Selling Price are the Same?

When I first got the domain buildbrandonline.com -2 of my friends praised bout this domain. The domain itself has a high value. One even said the domain has a $1000 value. But when you come to selling a website -you cannot set a price according to the website value or by your emotional attachments. Just think this way, this site haven’t got any revenue and no such traffic milestones -will this sell for $1000 just because some of my friend has praised bout the extreme value of the domain? No it won’t.

If the buyer would buy the domains and pay someone else to build the site, how much would it cost? I thought of $300 and just before I set it, I thought: If someone actually buy this opportunity for $300 will I feel sorry bout the site? No! -so set $300 and lets see what happens!!

I Paid the listing Fee to Flippa

You can pay using credit card or paypal on flippa. Here I used my MasterCard that I got from Payoneer. The listing fee is $19 and I bought an upgrade for $8 that adds a border around my listing. In total I paid $27 to flippa. If the site doesn’t sells, I won’t get the money back. That means $27 will be a total waste.

Read: How to get a free Master Card

I Promoted the Auction

I started to promote the site, tweet, facebook it, also posted about it on my blog. One interested buyer showed his interest on the site over at Flippa. He commented and I replied. The promotion here at BlogKori also built some buzz about it. I also got an email from a reader Rafiq for his interest on this website.

I wrote about this auction here

Before I Thought of Anything Else…

sold at flippa for $300I got a BIN bid to the auction. It was the exact $300, and if I “accept” the bid, the auction is complete! It wasn’t 24 hours yet!

I went to chat with a friend who is an experienced buyer at Flippa and discuss the whole thing. He said to me that $300 for a new site that is still not making any money or traffic is good deal. He also asked me if he can help me by putting some fake bids -just to increase the price? I said no thanks to that because I want it to be genuine. If I increase the price after getting a BIN bid, the result could be making the buyer disappointed. On other side, I don’t want to be greedy. If I end up having the site and do nothing with this, it will be a waste.

The next thing I did was to seal the deal.

Some Tips for Flippa Website Sellers

  • When selling a web property, give a good reason why you are selling
  • For setting a price, be realistic -don’t put a price where buyers will think you are not serious
  • Try to fill as much data about the site possible
  • More expert tips can be found here

The discussion continues

It was completely a new experience for me and you can see that I have sold the site in 2 days -very good start for beginner like me :) After that I had an interesting chat with my friend Chris and in his words my ideas bring him into a complete new direction.

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  • http://eunusat.com Eunus Hosen

    Congrats Tamal!

    It’s amazing to get around $200 of profit. Just for investing $60 for 3 months.

    Good conversion rate.

    • Tamal Anwar

      You can call it a WIN WIN situation for me and also for the buyer !

    • http://www.seokori.com/ Chandan

      @Eunus
      Conversion rate is something different. Its a percentage of customers who buy from you after they visit your product page/landing page. It’s not about the return on investment.

  • http://turboblogsite.com bridge rectifier circuit

    Wow good news! congrats tamal

    • Tamal Anwar

      Thank you very much for the comment :)

  • ali

    good blogkori you done a excellent work, i am reading all of your posts and thinks that one day i can win….

    • Tamal Anwar

      Thanks

  • http://www.sitelermobilyaankara.com siteler ankara

    thanks dude nice post..

  • http://www.bdtechie.com Nasif Razzaque

    Excellent work Tamal… Proud of your achievement :D

    • Tamal Anwar

      Thank you very much Nasif, I’m happy too :)

  • http://google.com Kathis

    I found something awesome about this on google and I want u to check it out.

    • Tamal Anwar

      ok I will

    • Tamal Anwar

      interesting!

  • bhavin

    Congrats for your first good sale. and thanx for providing a good bit of information about flippa. i am also willing to start with flippa.
    Can you tell me how you got money and how you transferred your domain?
    what is the trust factor on flippa ?

    • Tamal Anwar

      Flippa don’t handle any payments. This is up to the buyer and seller -they trust me and I trust them. We emailed about the payment process and site handover and within a few days we were done with everything.

  • http://blogdesh.com BlogDesh Team

    Your post featured in kikolani.com .. congrats buddy for both your success…..

    • Tamal Anwar

      Thanks buddy

  • http://www.ingbase.com Mayur

    Amazing post. I tried selling one of my other sites on flippa, but it did not sell. It looks like there is more to just PR and Alexa rank to the website. But again i think people also need to realize the potential of the domain name. But flippa is a nice place to sell domains and websites.

    • Tamal Anwar

      Selling does involves some luck and timing, so you cannot guarantee success everytime.

  • papon

    this is an interesting topics.i like it so much and i get help from this site.

  • http://www.tccpr.org papon

    this is an interesting topics.i like it so much and i get help from this site.

    Source BlogKori.Com : How I Sold a Website on Flippa Website Auction | BlogKori
    Under Creative Commons License: Attribution Share Alike

  • muhim

    Very interesting.But I am sure that you can easily sell your domain name around 500$-800$ or even higher at http://www.tdname.com But as you are satisfy with that price,so its a great deal.By the by how can you get the money from the buyer?Waiting for your reply….

  • http://www.authorstream.com/Presentation/navtejkohli-1084068-navtej-kohli-los-angeles/ Navtej Kohli Los Angeles

    Thanks for Sharing Let me this check it out first

    • Tamal Anwar

      Sure!

  • http://www.kerryseo.co.uk KerrySeo

    Really very nice article. I am happy to found it.
    thanks

    • Tamal Anwar

      Thank you man!

  • Technology Boy

    I added a domain on flippa but after adding a meta tag they are saying that
    “We were unable to find an email address associated with your domain name record. Please set one with your registrar or try another method of ownership verification”

    Then I added a TXT dns but I was also not working.

    What can I do now?

    • Tamal Anwar

      You have to verify the domain

  • Mir Imran Elahi

    Tamal,

    Congratulations on this amazing achievement.

    ~Mir Imran Elahi

    • Tamal Anwar

      You are welcome man!

  • Nicholus

    Hey i listed my website in the flippa, but its is unsold and also my high-bidder also rejected my final offer, so what can i do after that.

    how can i get the Refund or again listed in flippa

    • Tamal Anwar

      Please contact the 2nd highest bidder if it is possible. If the bidder has rejected the deal after winning the auction, please contact flippa to take action. Flippa doesn’t offer refund, you just have to list it again from the scratch.

  • Accounting Looser

    thanks for describing the way to sell website on Flippa

    • Tamal Anwar

      Thanks & no thanks for the not so useful spam comment trying to gain a linkback looser!

    • musa

      But it seems quite risky business, right? if you cannot sell in time you will lose money. That’s problematic.