Question about Price of a .TEL Domain on SEDO

Today I made a bid on a 3 letter premium keyword .TEL domain on Sedo, which had a minimum offer around $100. I am not disclosing the name due to me currently bidding on it.

But my question is that the seller now came back with counter offer of almost $5,400.00!

Why would a person list a domain at $100 minimum offer, when they expected over $5,000 for it?

Should I counter offer with a lower number of say $500, or just cancel the negotiations and find a different .TEL that I can register.

I would really like this .TEL name, but I think it is way overpriced.

Any negotiation advice from people who have successfully acquired premium domains, especially .TELs, is appreciated.

Is any 3 letter keyword .TEL worth $5,400?

Maximum I paid ever for a .tel was $300
I am using it because it fits with my plans.
$10 to renew

But i think the price increases because .tel is open now. 
And Sedo requires a 15 % commision from the reseller. 

http://www.herzog.tel

Well I just heard a reply from the Seller of the domain I sent a bid on Sedo via this forum. I was not sure if they were a member on tel.community, but it turns out they are. I just sent them a PM reply to take the negotiating process to PM. Thanks!

god.tel wrote:Today I made a bid on a 3 letter premium keyword .TEL domain on Sedo, which had a minimum offer around $100. I am not disclosing the name due to me currently bidding on it.

But my question is that the seller now came back with counter offer of almost $5,400.00!

Why would a person list a domain at $100 minimum offer, when they expected over $5,000 for it?

Should I counter offer with a lower number of say $500, or just cancel the negotiations and find a different .TEL that I can register.

I would really like this .TEL name, but I think it is way overpriced.

Any negotiation advice from people who have successfully acquired premium domains, especially .TELs, is appreciated.

Is any 3 letter keyword .TEL worth $5,400?

@god.tel - I have both bought and sold many domains at Sedo over the years (mostly .COMs sold, but there was one .TEL domain I sold).

To answer your 1st question, the seller probably did not set the $100 minimum bid specifically themselves. What happens is that when you set a domain to "Make Offer" at Sedo you can set a "Minimum Bid" price, but don't have to. If you don't do this, then it will default to the Sedo standard minimum offer, hence the $100 value you saw.

To answer your 2nd question, it depends on what the XXX value is, and how quickly the world catches on to the fact that .TEL now has "Normal DNS" available. http://www.dnjournal.com/ytd-sales-charts.htm shows the current sales values being achieved for XXX.com - a buyer then needs to ask what % of the XXX.COM price is reasonable for another "Normal DNS" gTLD with an easily remembered meaningful extension ie. XXX.TEL.

http://MikeSeaton.tel

PS. This is what I think COINS.TEL could be worth once the "Normal DNS" message gets out !