A PODCAST REVIEW
Lively commentary on this weeks brandable domain sales from the GoDaddy expired domain auctions plus… another “pricing contest” between two similar domains!Read More
A great domain name has to ripen. Like planting a fruit tree. In TIME it may bear fruit. I don’t think about selling. Never do. For some Domainers business is a sprint and always running. For others it’s a marathon. I am on the marathon side. Turtle always wins.
– Rick Schwartz, The Domain King
My final entry for this three part series is an exploration of the Buy and Hold style of domaining. Traditionally it’s a long term, passive style of domain investment wherein domains are held for years despite regular, albeit sub-par, offers. Trends and fluctuations in the domain markets don’t affect the Buy and Hold domainer who possesses a deep sense of conviction and unwavering faith in his/her asset’s value and their strong potential for very lucrative paydays.Read More
Ninety nine percent of finding the next big thing is discounting all the noise of those that want to convince you that what they have is the next big thing.
— Rick Swartz, The Domain King®
We all wish we could have registered the 1997 gems that are selling now for 6 or 7 figures. So why didn’t we? The reality is that most us were online in 1997. I know I was. And yet we didn’t buy. Since then other opportunities have come and gone. But often we haven’t seen or responded to them in real time.
Don’t believe me? Take a look at these 2018 sales.
Many of us have the habit of registering a domain name whenever we have a great (or not so great) idea for a new startup company, product, project, blog or side-business. But those ideas often remain just that, an idea. And the domain name will end up sitting dormant in your registrar account for months, years or even decades alongside an often growing family of other, unused domain names. These domain names don’t have to stay dormant; starting up a business is incredibly scary, but achievable.
Other reasons for owning unused domain names could be that you retired from or closed a business, decided to stop updating your blog or personal site or you acquired other companies over the years, with their domains. If so, you’re probably wondering if these domains are worth anything to someone else and if yes, how you can sell your domain names?
In this post, I will guide you through all the different steps in the process of successfully selling a domain name. From valuation to pricing, marketing, listing, negotiating and closing a sale with a safe and secure way to transfer the domain name to its new owner and the seller (that will be you) receiving payment. You can use the links below to jump to a specific section.Read More
If you are buying domains and you say to yourself that you will hold it for a year and then decide to renew, you are buying the WRONG ones.
– Rick Schwartz
One of the great joys of domaining is waking up and seeing the words, Your Domain Has Sold!, in your inbox. There’s nothing better than earning several hundred, or even several thousand, dollars while we’re sleeping. But there’s another, more insidious, process that also occurs while we sleep. It’s the silent cancer that eats away at the money in our pocket and it’s called, domain renewals.
Every day the clock is ticking on the hundreds (or thousands) of domains we own. Renewal fees come due night after night. For every thousand domains in our portfolio the annual renewal cost is about $8,000 per year. That’s $666 per month or about $22 a day. Yikes!
With numbers like that we’ve gotta be careful and make sure our portfolio is a clean, lean selling machine with no dead weight. Otherwise renewal costs will eat our profits faster than an African tapeworm. So how do we avoid that?
We’re coming to the end of another calendar year. Time to look back and assess what went on in the domain industry. I thought one interesting way to do that would be to look back at what leaders in our industry said a year ago. If you remember, our friend Domain Shane, was kind enough to organize and publish (here and here) the ruminations of several domain industry leaders back in December of 2015. They gave their thoughts on what might be in store for 2016.
Here are some of the things they said. Keep in mind that these folks made their comments in the last month of 2015, right at the height of the CHIP market frenzy. Let me know in the comment section who you think had the most accurate crystal ball for 2016. Ok, here we go………
Andy Booth said:
Several months ago I was surfing NamePros and I noticed a guy in live chat. He said he was looking for domains to buy. I quickly sent him a private message and asked what kind of domains he was looking for. He said he wanted a domain that he could flip and make some money on. I told him every person on NamePros wanted a domain for a profitable flip. Why would they sell you a domain that they could flip themselves? He had no answer for that and I warned him to be more careful and cautious. I told him that without knowing the market he was likely to get ripped off.
I think we all started out with that same kind of naiveté but we know now that, despite the hype, there’s no overnight success in domaining. I think everyone’s heard that 8 out of 10 entrepreneurs fail within the first 18 months. I know, I know, some say “my domaining’s not a business, it’s just a hobby.” I say bull. It may be a part-time endeavor but if you’re not approaching it like a business your chance of failure is likely even higher than 80%.
If you’re new to domaining or having trouble becoming profitable, here’s eight tips to increase your chances of success:
I <3 brandables. It is no secret that a very large percentage of my sales and a even larger percentage of the domain names I hold in my portfolio are brandable domain names. While 2013 was the year of the rise of brandable domain names (and those market places specializing in selling them), 2014 definitely was the year of the brandadable domain name in terms reseller activity and end user sales. Anyone who has participated in dropped or pre-release auctions for short, pronounceable dotcoms this year has noticed the increasing demand and knows that after market prices have more than doubled (tripled?) during the last 2 years.
As more and more companies decide to choose a brand name domain over a keyword domain I decided it was a good time to compile a list of this years top 100 brandable domain name sales as reported throughout the year by DNjournal.com
So, what defines a brandable domain name? This is good question and many people have different ideas about what is and makes a domain name brandable. To compile this list of top 100 reported brandable domain name sales I personally decided to stick with the following criteria: Read More
Exactly 2 years ago today I bought my first domain off of Namejet.com. I was on vacation in Sri Lanka and a few weeks earlier I found out that the domain name of a company I co-founded had expired and would be auctioned on Namejet since it was registered with Network Solutions.
I was keen on re-gaining ownership of the domain so I signed up for an account and had to set my alarm at 3AM in the morning to participate in the last few minutes of the auction. I still remember the stress of it all, only heightened by the poor wifi signal in the hotel. I remember cursing it and wishing I was back in the U.S. using the wifi there, which is a lot quicker if you set up a plan with infinity dish or a similar company. Then, to my surprise, there was quite a number of other participating bidders. But it was all worth it for the adrenaline when I placed the winning bid and once again I was happy to be in Sri Lanka. That night I not only ended up being the owner again of the NewChinaCareer.com domain (it costs me $314) but I also learned that sites such as Namejet is where savvy investors snapped up great domain names before they came available for the rest of the “regular” folks. I was instantly hooked and have been actively investing in domain names ever since
I’ve never been a very active commenter, but reading domaining blogs quickly became part of my daily routine and allowed me to quickly get up to speed and avoid many of the newbie mistakes and pitfalls. I really appreciate those in the industry that regularly share their tricks of the trade and personal views such as Shane “DomainShane” Cultra, Elliot Silver’s DomainInvesting.com (who happened to be this blog it’s first ever reader for all the wrong reasons) and Chris from TLD.org. Invaluable for me as well are those that spend the time to pen down extensive reviews on services and products and interviews with industry leaders such as Raymond Hackney and Michael Cyger from DomainSherpa.com.
I’m determined to make an effort in the new year to give back and contribute by sharing my own experiences, mistakes, strategies and thoughts here on DNgeek.com. Happy New Year!