Biggest Mistake MADE

I bought a two word generic domain for $500 at an auction. Two years later somebody offered me $1300. I didn't accept that and kept the domain for a few more months.

Then I decided to sell because I needed to raise money for a project and I did the most stupidest thing I could. I pushed the domain to Sedo auction with a $60 bid and contacted that person who offered me $1300. I also contacted a few other potential buyers. The Sedo auction finished at $350. The buyer was the same person who originally offered me $1300.

I made so many mistakes, No1 was buying .tv's that carried premium renewal prices of mid $$$$'s per year only to let them drop some yrs after.
No2 was spending at tdnam $1.5K for a domain that seem to have 90000 UV's per month. After domain got into my account I parked only to see 30 UV's per day and after 2 months almost none.
I can continue for ever... :D

We have all made mistakes from time to time, but I have been lucky in that none of mine have been disastrous. About my biggest mistake is not understanding the value of domains when I first came here and getting words the wrong way around; something I quickly rectified

Paid $200 for a VCVC.com at peak of LLLL market.
Rejected offer of $500.

Couldn't find a buyer later when the LLLL hype died down.
Ended up dropping it.

Erdinc said:

I bought a two word generic domain for $500 at an auction. Two years later somebody offered me $1300. I didn't accept that and kept the domain for a few more months.

Then I decided to sell because I needed to raise money for a project and I did the most stupidest thing I could. I pushed the domain to Sedo auction with a $60 bid and contacted that person who offered me $1300. I also contacted a few other potential buyers. The Sedo auction finished at $350. The buyer was the same person who originally offered me $1300.

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FML?
:lol:

Thanks for Sharing!

I am willing to bet MOST people's mistakes come in the form of regging .tv, .asia .me and other gTLDs that just end up sucking them dry...

I too have passed on offers that later I wish I would have taken...

I suppose my biggest mistake to date was investing in .me I purchased 30 names that cost me a pretty penny. Later on I realized that the investment was nothing more then artificial inflation and hype. I put a fire sale on them and was able to regain 2/3 of my investment and since have not jumped on any new offerings in extensions.

Great thread idea

I have been buying names for a few years, but never really doing anything with them. I have kept a couple going, let a few drop, but I think my bigest mistake was buying a lot of .co domains only to realise, oh wait, you said mistake, buying .co domains names is genius pure genius!

Serious note - I have just refused a £300 offer on one of my .co's and I'm already thinking I should have took it.

Besides regging some really bad names, my biggest mistake was not finding the Godaddy discount code thread and paying full price for many of those bad names.

At least now I am buying bad names at a discount. Actually, my name picking has improved but I have a long way to go.

Great idea for a thread.

Rejecting a $750 Offer from a London Company. I was greedy and asked for $1,200. Never heard back. I could not find any other buyer. Ultimately, I decided to go back and ask them. Got a offer of $250. I accepted. I pushed the domain first and never heard back.

I lost $750 and the Domain Name.

That really sucked.

My three biggest domain-related mistakes:

1. Reg'ing tons of worthless domains at high prices when I first start dabbling in this "business". (Lots of other newbies made - and still make - the same blunder, of course.)

2. I only ever owned one solid revenue domain - bought it at eBay for less than $5, and it immediately made about $15/day in PPC. But the keyword phrase was about a topic that I thought would only be hot briefly, so I sold it for a few months' revenue. Interest in that topic went on longer than I expected; I think the buyer made some nice $$!

3. Letting my wife talk me into getting our patio redone this winter. That cost so much that I had to offer some domains here at fire-sale prices to raise funds. (But she's still worth it.) :loveyou:

Just out of curiosity, do you pay VAT at Godaddy? This might be another mistake you do because you can avoid it.

By the way, can somebody from the USA confirm whether there is VAT for them?

Erdinc said:

Just out of curiosity, do you pay VAT at Godaddy? This might be another mistake you do because you can avoid it.

By the way, can somebody from the USA confirm whether there is VAT for them?

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When I buy a domain from GoDaddy I pay for the domain $7.19 or something like that ( i belong to the domain discount club), plus a 30 cent ICANN fee...

I agree with randomo on his 1st listed mistake, which is same as mine.

1 ) I registered 50+ .in , due to the EstiBot value. Later found that they are worth regfee. Though I am still happy with them as I have them parked and they have earned $20 for me in 2 months :D

2 ) Selling Hiaz*.com and 3 other great domains which I got in $1 offer, for $6 only. I didn't knew the value of 5L domain names

Will keep an eye on this thread to learn from other's mistakes :D

afako said:

Rejecting a $750 Offer from a London Company. I was greedy and asked for $1,200. Never heard back. I could not find any other buyer. Ultimately, I decided to go back and ask them. Got a offer of $250. I accepted. I pushed the domain first and never heard back.

I lost $750 and the Domain Name.

That really sucked.

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Ouch! Did you contact your registrar to see if they could help you?

My biggest mistake was believing that a broker for a top domain firm was working for me when he was actually working me for a big client. Cost me at least mid five figures to low six figures.

Think he still makes a living out of the 'favor' he did this big company.

But you live and learn.

Biggest Mistakes, none to big but still glad to learn from them

-Buying multiple reg fee domains when I should have picked up 1 aftermarket at reseller price.
-Buying mediocre domains in alternative tlds expecting a quick flip and not to have to renew them. They are dropped now as I feel the first loss is the best loss.
-Following on from that when renewing a domain make sure its a keeper and renew for more than one year if I have the funds available.
-Not reinvesting the money from a sale on renewals or putting it to the side for a "great opportunity" this business can provide good deals when people are low on cash (just make sure you are'nt also)
-Finally not learning from my mistakes sooner.

Great thread.

HostMantis said:

Ouch! Did you contact your registrar to see if they could help you?

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Netfirms wouldn't help me.

I should have used Escrow.

Anyways the domain costed only a Dollar.

So I lost only 1$.:hehe:

siga said:

-Not reinvesting the money from a sale on renewals or putting it to the side for a "great opportunity" this business can provide good deals when people are low on cash (just make sure you are'nt also)

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I always look to reinvest...Failing to put money aside is one of my biggest mistakes as well, you always want to have some cash on hand because this industry is full of surprises, deals, new extension releases, etc.

Great thread idea. in my early domaining days i backorder 3 domain names in all the drop catching company's , snapnames got them , later on i understand they are really lousy and dropped them all .

after couple of months i got 3 emails from pool.com ... Congratulations! You have won domain(s)!
yeah - i did not clean my order in my pool account and they capture them when they dropped and i got them all back again ...

Buying loads of crappy LLLL.com and many L-L.in names that are still awaiting their first offer...

Buying domains at 1and1... (at least you learn! lol)

buying .tv domain....

This isnt a mistake i made, rather a buddy of mine.

He wanted to get into domaining, decided on .info domains so he bought 100 at 99 cents each, so he had $100 invested.. the following year they renewed, he used a different email address for his domains, never checked it. they charged his debit card for the full renewal price for all 100 of them at like $9 each.... he missed the grace period and had to pay another year..

i did help him sell a few to get some money back but he stil lost out...