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Thread: To buy or not to buy?

  1. #11
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    I must have been the only one who didn't get the impression that he was going to not pay if he won the auction.

  2. #12
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    Quote Originally Posted by ClaytonL View Post
    I must have been the only one who didn't get the impression that he was going to not pay if he won the auction.
    I don't know if you are, but the two facts from the OP that stood out to me were:

    1. I've been bidding and now I'm the high bidder.

    2. I am not sure I can make money on this site, and now I am questioning whether the seller is setting me up to lure me in and take my money.

    Point 2 is not compatible with point 1. The bid was made and he was high bidder. The question was improper after already committing to make the purchase.

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  4. #13
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    Clarification

    To clarify I had planned on buying the website out right. HOWEVER I places a bid for $1800 and went to the gym with the intentions of clicking the BIN button when I got home. During this time someone else purchased the site. I had full intentions to purchase the site wether it was through bidding or BIN. Now in hindsight I'm adequately happy that I did not become the owner of the website for reasons I see now. I did conduct my own research on the site and I only posted on here for oponions! I'm 17 and haven't been doing this for very long so forgive me for my obliviousness to how things work around here.

    Thanks,
    Chippoliver2
    Last edited by Clinton; 12 March 2012 at 3:22 am. Reason: ToS

  5. #14
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    Quote Originally Posted by KenW3 View Post
    I don't know if you are, but the two facts from the OP that stood out to me were:

    1. I've been bidding and now I'm the high bidder.

    2. I am not sure I can make money on this site, and now I am questioning whether the seller is setting me up to lure me in and take my money.

    Point 2 is not compatible with point 1. The bid was made and he was high bidder. The question was improper after already committing to make the purchase.
    I think he was asking because he was considering going for the buy it now of $1975. Even if he wasn't, some people will go ahead and follow through with their commitments, even if they aren't sure that it's to their advantage.
    Last edited by ClaytonL; 12 March 2012 at 3:27 am. Reason: spelling

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  7. #15
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    Fair enough that you're 17, but if you play with the big boys then you have to play by the big boys' rules. We would like to help you but only if you show that you're helping yourself.

    Posting various sites for sale which have been advertised on Flippa is not really a great way to go about being part of the community on here. It would be much better if you did your own research and then came back with specific questions about, for example, how the GA doesn't seem to add up to the income claims for the site, and stuff like that. All you're doing is posting a link to a site for sale and asking for opinions. How can anyone have opinions if they don't spend considerable time researching it?
    Last edited by Clinton; 12 March 2012 at 4:49 am. Reason: To remove reference to a post which doesn't exist anymore
    British Expat - helping people to live and work abroad since the year 2000.

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  8. #16
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    Chippoliver2, what draws you to these article writing sites? Also, I'm not sure that that site is a legit pr3.

  9. #17
    Administrator Clinton is a Premium Member
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    I did conduct my own research on the site and I only posted on here for oponions! I'm 17 ...
    I think it's great that you're getting involved in investing wisely and going into business at your age. If some of the earlier posters had known your age they might have been a bit less severe (might have been). If experienced members differed in their opinion of your intentions regarding this auction, then you might want to consider that the wording of your earlier posts could have been clearer. You seemed to be giving the impression that you started questioning the seller's integrity after you placed your bid.

    Bear in mind that recently we have been discussing non paying bidders and how it's become a problem in Flippa that people bid and then back out when it's time to pay. The general consensus - and a good habit for you to adopt going forward - is that bidders should do their due diligence before bidding.

    I sometimes bid without "completing" DD but I bid only to the extent I'm comfortable taking a risk based on the DD done to that point. So I may see an auction for a aged site claiming $2K a month and bid up to, say, $5K based purely on the domain and domain age and without inspecting the income. As I inspect the business in more detail and get more satisfied that the claims are genuine I'd extend my bidding.

    The advice that FinanceGuy gave you in post 2 came at a cost of $0, but it's worth at least several hundred dollars. I used to offer DD consultancy services and that's what I would have charged you for that advice if you had come to me privately when I was offering those consultancy services. The winner of that auction will likely lose $1975 plus a lot of his time ... all because he didn't know of these forums and didn't ask for advice first!

    So, play the game right and you stand to make a big gain (or save on a big loss)

    I suggest starting a new thread about this other auction you're interested in and take Kay's advice to tell us first what you've already found out about this site/listing. We're here to help and you need to find the best way to tap into all this free advice.
    Find the right business brokers to maximise the value you extract from your business and improve the chances of selling your business.

  10. The Following 8 Users Say Thank You to Clinton For This Useful Post:

    bwelford (12 March 2012), ClaytonL (12 March 2012), Dave McM (14 March 2012), FinanceGuy (12 March 2012), grynge (12 March 2012), JJMcClure (12 March 2012), Kay (12 March 2012), KenW3 (12 March 2012)

  11. #18
    Top Contributor crabfoot is a Premium Member
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    Perhaps the best advice would be to "dry run" a few hunches.

    Pick sites out, don't bid. Do your research, watch and see if they are being improved or if they nosedive.
    You can get some data from places like Alexa and Open Site Explorer for starters, then see how the ratings change over a couple of months.

    If you don't jump in, you never get wet - but you might not see the lurking shark if you jump in too quickly and don't check the water. You want your swim to be a nice experience, not cost you an arm and a leg ...

    I will mention that you are not the youngest member ... but remember that a lot of people here have busy lives - they don't mind teaching basic strokes to dog paddlers, but they are not shelling out for other peoples' water wings.

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  13. #19
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    Quote Originally Posted by Clinton View Post

    The advice that FinanceGuy gave you in post 2 came at a cost of $0, but it's worth at least several hundred dollars. I used to offer DD consultancy services and that's what I would have charged you for that advice if you had come to me privately when I was offering those consultancy services. The winner of that auction will likely lose $1975 plus a lot of his time ... all because he didn't know of these forums and didn't ask for advice first!
    Hope this doesn't count as a fluff post but thank you!

    And OP, he's right. I'm happy to offer some DD advice but you can't count on others to do this. I don't think you were trying to mooch so hope no offense taken, just a heads up that you need to learn to do this yourself. And now that I know your age, I can certainly relate. I started in programming at 16 (that was 2+ decades ago) so I know how hard it can be to start out. But I assume you're not floating in cash and $2k is a chunk of change. Also, if you're planing to head off to college, sites that require daily maintenance can really take their toll on your grades. Do you want that?

    Lastly, there's something to be learned from owning a site besides revenue and that's real world experience. Keep your first site purchase to under $500 and see what you can do with it. If you can double the revenue of $1.50 a day to a consistent $3.00 a day if that's your goal, then you're ready to play with bigger sites. If you try and don't succeed, then your losses are $500. But if you succeed, you've gained experience that is priceless.

    TL;DR Start with smaller sites and hone your skills, then swim in the bigger pool. That's not said out of arrogance or condescension but rather knowing the bigger pool has more sharks and I hate to see another budding entrepreneur become chum...

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  15. #20
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    If you're interested in an article writing business, why not start by offering your services at the various IM forums (Wickedfire, WarriorForum etc). You can be in business with nothing more than a paypal button and a nominal fee for posting in the services forum - no website needed. If you're a good content provider, word will get around and people will find you.

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