Ought to I Set Minimum Offer Prices on Sedo?

Ought to I set minimum offer prices or let people make any offer?

I’m always excited when I get an email from domain aftermarket Sedo informing me that I’ve received an offer on a domain name. That excitement usually turns to disappointment when I click through to see that the offer is for a measly $60. Please, it’s not even worth my time transferring the domain.

But this may be my fault. Following all, you can set a “minimum offer” price on your domain listings. If I set a minimum offer of, say, $500, then the buyer who submitted the $60 offer would receive an error message telling them they must offer $500 or more.

But is this any better? Perhaps the buyer would see that the minimum is only $500 and assume that’s how much I’m willing to sell the domain for.

At Afternic you have to specify a minimum offer price that is visible to buyers. Most buyers understand that this is just a minimum and they’ll likely have to pay more to actually buy the domain.

What do you think? Is it a good idea to add minimum offer amounts to your domains on Sedo?