A domain pickle!

I'm in a bit of a pickle, and i have no idea how i can handle this situation. let me explain a bit.

There is this friend of mine - lets call him Jack.
This guy is a singer, and when he was living in my country he was an amateur singer with a few gigs all over the place, not making any money but mostly for fun. I had made him a basic website at the time... he started get more followers and fans, and the website started growing.

now this guy moved abroad to another country, we closed the website down since he was not doing anything locally... but i still owned the domain name (.com) - cos I had registed the domain in advance for about 5 years (to be safe... out of my own money) Now this guy won some sort of competition and he's now very popular and probably earning loads of $$$$.

He contacted me again cos he wants the website re-done, this time more professionally, and he asked me for a quote. I quoted him the best price I could, (keeping in mind the website is masive this time!) and the price i quoted was considerably less than what other designers in my country would charge for such project.

the reply i got from him was that the quote was double the price he managed to get from other designer in his country, and that he's going with some other designer to have his website done more cheaply.

as you can imagine, i'm quite disappointed on how things ended up. - now the biggest problem is that the guy emailed me today to take his domain so he can start using it for his website.

the domain is owned by me, paid out of my own money... some people might tell me to ask him to pay me loads of $$ for him to take this domain.. but in that case i dont think it would be fair (i dont want to sound like i'm trying to rip him off some money)

what would you do in this case? try to earn some money and lose the friendship? or give up the domain peacefully?

 

ask for fair market value for the domain?

 

if you owned it and was just letting him use it then don't send it to him for free, sell it to him. if its registered under your name it's yours.

 

I would get the domain appraised to see its true value.

 

just ask him to pay reg fees?

 

It's not his you bought to make him a website. I think you should definitely get some money for it.

 

i think you can ask the current market price of that domain. but what is the name of the domain ? if that domain name is his name then probably its a bad choice to demand more money because it may lead bad faith.

if that name is a brandable made up word then u have the full rights

 

Its very straight forward you have the domain which is in your name he is going to use someone else to make the website for him that you cannot change but if he wants to use that domain he has to pay for it,how much he has to pay it all depends on how much he wants him.

Remember you have no friends in business and if its a opportunity to make a few bucks from it take full advantage.

 

Sell it to someone else for the market price, and let them worry about Jack.

 

At the very least get the 5 years worth of registration and hosting fees out of the deal. I wouldn't settle for less.

 

If i'm in your shoe,i will sell him the domain name.
But incase he don't want buy you will lose it.
So,you should lower your price.