I’m sure some of you will be sick of hearing about the sale of Blogging Fingers (somehow I am!) while others still want to be drip-fed more details. I’m going to put the latter out of your misery by telling the story behind the sale.
- I intensively researched blog sales ensuring I had read every singly blog post in the history of blogging that gave any advice on how to get top dollar. I’ve already sold a blog before but I wanted to be extra safe.
- I contacted Yaro Starak of Blog Mastermind who advised me not to go live with a SitePoint auction straight away. I believe this was good advice because if I had not waited I may have over/under valued Blogging Fingers.
- I contacted the top 30 bloggers using 45n5s top 100 list, many of which I already have relations with. I also this list of the top blog networks and emailed the top 50 about the sale.
- I posted about the sale on Blogging Fingers allowing for initial private offers to be made. Most of the offers here ranged from $100 (yes someone actually offered $100) up to nearly $2000. 2 stressful days went by during this stage. Not satisfied with these offers I decided to go for the plain and simple approach .
- SitePoint auction launched. I used the initial demand (30+ people contacted me stating interest) as well as the stats to price Blogging Fingers at $6000.
- Sold for $6000 after being on auction for 2 hours. I had prepared for the long haul and listed the auction to last for 2 weeks. The first and winning bid was the BIN which was a welcome surprise. I also received another person saying they were interesting in paying the BIN (buy it now) price, but the deal with them fell through.
- I Entered negotiations with the new buyers about staying on. We have since agreed that I will stay on for 1 more week posting every day, as per normal. I am also being hired to manage the blog and post 2 top notch articles each week for 1 month after this first week is up. After that I will have to decide whether to continue.
I must confess I have missed out an important part of the story. I’m sure you understand how hard it is to not keep insanely checking for bids. Between what was overall a very eventful few days there was some time to kill. Perhaps I should have spent that time doing some extra marketing… instead I watched all 6 Starwars films. I could have worked on other sites but I new anything I did would have to be transferred to my new Bluehost account and I used that as an excuse to procrastinate. That just goes to show you don’t have to be a marketing and blogging genius to make big money online. I believe all of you can do the same or better if you put your mind to it.
Comment by YC | 2007-11-03 13:10:10
Congrats Matt! Interesting how you conducted the whole sale – more than a few tips there for everyone.
I’m terribly upset that you’re going tho’ – I do hope you stay longer than the 1 month.
Keep in touch about your new projects, Matt!