I'm stumped. I'm not so sure what is the answer to your question. I'll do some research in Google and get back to you if I discover an decent answer. You should email the people at Godaddy as they probably could assist you..

This person was'nt a celebrity at the time of purchase...

Then you have a good point. You can just ignore the offer and wait for a new one from them. If they are interested they will no doubt contact you again. You also can send them a letter that at the moment you are not interested to sell the HostGator because you're planning to develop it. Find someone with the nick or get your own old nick Shay Neward to make sure they can't get the HostGator by lawsuit...

Dont go for it right now. wait and watch you might get more for you domain.. best of luck..

Just find someone else that has this name: Shayne Ward.

And become a friend of him....

Anyway I noticed that you put it for sale so thats enough for lawsuit.....

The fact that you do know who Shayne Ward is and want to know if you can get a "higher" offer does suggest bad faith...