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Selling my website, but not getting decent bids

Discussion in 'Site Flipping' started by Sleinad, Dec 21, 2011.

  1. Sleinad

    Sleinad Senior Member

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    I put my main money maker up on Flippa a few weeks back, and it has quite a lot of watchers and auction views (1k+) but the bidding is only at $12k. There is 2 hours left, and I have only one guy that says he is interested, so he will probably offer $13k or something.

    The site makes an average $3k a month since January this year, and that is without me putting in hardly any effort. I see everywhere that websites are valued at like 10x the monthly average, sometimes only like 7x but my site isn't even getting that.

    My listing is clean, and I copied the same sort of style of a listing that ended really successfully a few months back. I received quite a few comments, and a lot of people PMing me about the reserve. Initially I wanted $25k at least, but then lowered that to $20k but that still puts people of so quick.

    I just don't understand why it isn't getting any interested buyers, the site isn't spammy, it has good rankings in Google, and IMO its a really nice money maker. I am just fed up of delivering the services as I am lazy...

    Any advice on how to find some interested buyers would be appreciated!
     
  2. carlx

    carlx Registered Member

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    What flippa sales features are you using?

    Buyers are fickle, you need to stick to your reserve price, just because bids are slow doesnt mean you sell your site for less!

    Remember flippa isn't like ebay, it only takes 1 bid to bounce the end time up to 4 hours again, i have seen auctions overrun for 2 days just because of last minute bids!

    If you don't sell your website in this auction it could be down to the fact it's christmas - big ticket sales are always more difficult around Christmas. - So it wouldn't be the end of the world if you waited 3 months (earning more while you wait) then when you come to sell it in 3 months you can improve your sales pitch, create a video of the website in action, show them the backend of the site, video of analytics & advertising revenue etc (hide things that arent allowed to be shared like certain adsense stats)

    In closing, i hope it does sell for you, but if it doesnt then its really not the end of the world!
     
    • Thanks Thanks x 1
  3. Sleinad

    Sleinad Senior Member

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    Thanks for that post. Making them videos is a really good idea, and now I feel like ending it just to add things like that. Having videos would definitely improve the bidding on my listing.

    Oh well, I am going to wait and see what happens. It already got a bid in the last 15 mins so it has another 4 hours, and someone offered $15k which I will take unless I get anything better as I want to sell it now.

    This one guy is pretty interested, and he bought another similar site, so he is obviously wanting to try and dominate the market or something, and therefore I think I can get away with saying I have a few other people interested to get him to bump up his offer.
     
  4. meathead1234

    meathead1234 Moderator Staff Member Moderator Premium Member

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    This is a pretty bad time of year to be selling, especially on Flippa.

    Don't under sell the site. With 11 month's of history it should be worth more than 5x revenue.

    I would wait until the new year and get more for it, but that's just me.
     
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  5. Codythebest

    Codythebest Senior Member

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    You don't sell at 10X or even 7X monthly revenue because the competition is selling at 3X monthly revenue...like me!!
     
  6. Sleinad

    Sleinad Senior Member

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    How do you know you are selling the same sort of websites as mine? :)

    I don't want to wait till the new year, and I am happy with the offer I have as I am starting to run the business into the ground.

    It is close to ending now, and I doubt there will be another bid to get it another 4 hours, so I will just take the current offer. Thanks for all the advice thought guys!
     
  7. meathead1234

    meathead1234 Moderator Staff Member Moderator Premium Member

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    You have no idea what you are talking about.

    Absolutely no-one sells a solid earning site for 3x monthly revenue.

    Multiples are generally based on net profit as well, revenue is usually not relevant.

    Sites on Flippa average around a 12 month multiple and the average broker will quote (and get) around 24 months of revenue.

    The only sites that sell for 3x "revenue" have little/no history and little/no promise of sustainability going forward.
     
  8. meathead1234

    meathead1234 Moderator Staff Member Moderator Premium Member

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    dupe post
     
    Last edited: Dec 21, 2011
  9. Sleinad

    Sleinad Senior Member

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    Changed my mind again...

    Going to go with meatheads advice and wait till after Christmas and new years. Even if I only get $1k more it will be worth it.
     
  10. carlx

    carlx Registered Member

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    Just make sure you continue to build the site, don't run it into the ground! - Like i said before, selling in a few months you will get more money, but you will also be earning for those 3 months!

    Plus as we spoke about before, improve your sales pitch and make a cool video (stand out from the crowd)

    Good luck dude.
     
  11. Codythebest

    Codythebest Senior Member

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    Don't make me wrong. I'm talking ONLY about what I'm doing.
    I bought a site on ebay for $58. It was doing $200/month.
    I made it better and I was doing $1400/month with it. When it went down to $750, I sold it for ... $750. 1 month of revenue. It didn't sell for $3000, then $2500, then $1999, $1500, $1200, $950 and find a buyer for $750. It was 4 years old.
    I bought a site on Ebay for $132 that was consistently, month after month for 3 years, $50/month with adsense. I sold it $320 when I made it doing $100/month. I even had one month at $700 with that one. It was 1 year old.
    I buy and sell websites for the last 3 months of revenue. Period.
    And some of them are still for sale after 1 year because sometimes, even 3 months of revenue is too high...
     
    Last edited: Dec 21, 2011
  12. NoHoneyWithoutMoney

    NoHoneyWithoutMoney Regular Member

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    do you mind sharing the details [Meathead edit: you cannot buy sites here]
     
    Last edited by a moderator: Dec 22, 2011
  13. poweronics

    poweronics Jr. VIP Jr. VIP Premium Member

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    The site has a good revenue and if some buyers are not giving the 10x price, you should not bow down to them . Wait and it will get better.
     
  14. hustlingrind

    hustlingrind Junior Member

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    12 x 24x is the average for Flippa sales.. I have NEVER gotten below 12x. PM me your listing next time and I'll give my advice.