Buying a domain name

The idea 

I've always been interested in owning domain names of relative importance and being able to use them and trade them in some ways.

Recently, I've had multiple opportunities to get going with this idea and so today, I own 3 interesting domains, all in the Canadian market. I am now also going to offer a nice amount of money, for the first time, to try and buy a nice domain name for one of my enterprises.

The ones I own.

• apari.ca
• poincaré.ca
• poincare.ca

The one I'm going to hunt for.

• scgc.ca

The hunt

It's not that hard to go look for the person that possesses the thing you want. Just go on who.is and you can get the registrar information on the domain name you are looking for. 

In my case, I've tried a couple of searches to see if the company was still active and if I had a chance in buying the domain. I've tried to reach the address that was mentioned (that's why I want to stay in the Canadian Market, because it makes sense to me and I understand it) in the registrar. It is located in Longueil, not far from me. The place was now rented for a real estate company that did not know anything about the names I was giving them. I've tried contacting them via phone and email just to see if the business was still running and luckily, after a couple of weeks of research, I was able to contact the right person and make sure that they existed.

The offer

I'm intending to offer about 600 to 800 CAD for the domain. I've arrived to this conclusion based on this:

• I've used estibot to evaluate the fair price of a couple of domains.
• scgc.ca is evaluated at 120 USD
• scgcquebec.ca is evaluated at 80 USD
• csce.ca is evaluated at 800 USD
• The current owner must have this domain for let's say 10 years now. That's about 15$ per year at least just in ownership fees that I should pay for him to at least consider my offer.
• Update. The owner has this domain only for the past year. It's highly probable that the domain was available just before that. Fail.
• I'm looking at it from my perspective where I have one shot at trying to get this offer right, and if I was the person on the other side, what would be the minimum I would consider.
• Finally, just like for any transaction, my offer should be a multiplier of the current "market value" of the domain that was estimated from estibot. I've estimated that a multiplier of x5 would be a correct value for now.

That brings us to 160CAD*5 = 800 CAD.

Looking at comparable domains being sold at auction on GoDaddy, I decided to reduce my offering price to first 500$ and than if it wasn't enough I'd go up.

Oups

I've probably offered too much for this domain. We'll see.