My biggest problem with domaining is...

Dtutahey · Apr 24, 2016

My biggest problem with domaining is how to set value for domain. As a beginner, I don't have a tiniest idea
what domain could cost. I checked Namebio.com for some clues and I want to check with you guys too:

GEO + attorney.com - around $1500-2500.
GEO + practice area + attorney.com - around $300.

Does this sounds right?

Bram C. · Apr 27, 2016

finder17 said:
That only applies to good names though. The last thing we need is people setting ridiculous prices on terrible domains and using this to justify it.

True but if purchased a good domain for let's say $8K and you're trying to sell it for $200K and you get 5 offers in 3 years (the highest being $10K) then maybe it's time to rethink the pricing as well and not hold it forever waiting for that $200K offer.

AbdulBasit.com · Apr 27, 2016

Bram C. said:
I have plenty of good domains and a decent cash flow. Yet unlike you I'm not gonna turn down offers that are reasonable just because there might be a jackpot in some distant future. And yes they keyword is "might". You say good domains do sell. While I agree that this is true, it just means imo that at some point if you want money for those domains you could sell them for a reasonable price (small profit). Good domains bring liquidity. They do however never guarantee that you will get for it what you want to get for it.

Keeping a good domain for many years just to find that one buyer who will offer what you want for it is the same as buying a lottery ticket with the same numbers every day and thinking you will win one day just because you play those same numbers for a long period of time. Your odds will slightly increase in your favor yes, but it will never be a guarantee that you will win.

People who are holding domains long term usually do it because once they finally hit a jackpot it more than makes up for all the lost smaller sales they could have had much earlier.
People who flip do it because they want the sales earlier and do not wish to take the risk to be stuck with a domain.

Personally I prefer to sell as many domains as possible in the shortest amount of time. Sure I will get less money on average per domain this way but I will sell a lot more domains this way.

I don't actually totally disagree with you as every person has different qualities and situation according to which they handle it. Well, there is no guarantee of what I want because it's the nature of this particular business and I enjoy it. But, if I want 10K for a 1K domain for some endusers and it doesn't sell right now, I am okay with it and can wait for even 20 years. But the more I have decided to wait on some names, the price is much higher than what others think and that's actually being realistic with myself that I am not going to get what I want today so we have to categorize accordingly.

That's absolutely wrong about the lottery ticket point. So in your eyes, Rick Schwartz (ricksblog.com) has always been waiting for that lottery ticket to hit jackpot one day. You have to have a clear vision and good research for that particular domain and strong backing (cash flow) in order to survive for those golden eggs which surely many of us have very few in our entire portfolio.

I suggest every domainer with very limited funds should flip domains in order to survive and keep the cash flow going and not try the method I am going with right now. Else, they will be stuck for sure. But once settled, I suggest to change the gear but that's all my suggestion.

Skyvisum · Apr 27, 2016

In Domaining,we have flippers and long-term investors.The Long-term patient domainers hit the goldmine when they make that huge sale with their quality domain to the right buyer. Quick flippers and let their names go as long as they make that $100 to $1k profit whereas,long-term investors make triple that.If Rick can sell just one domain in 6 figures every couple of years,it surely is worth the wait depending on what side of domaining you stand with your cash flow.

Bram C. · Apr 27, 2016

AbdulBasit.com said:
I don't actually totally disagree with you as every person has different qualities and situation according to which they handle it. Well, there is no guarantee of what I want because it's the nature of this particular business and I enjoy it. But, if I want 10K for a 1K domain for some endusers and it doesn't sell right now, I am okay with it and can wait for even 20 years. But the more I have decided to wait on some names, the price is much higher than what others think and that's actually being realistic with myself that I am not going to get what I want today so we have to categorize accordingly.

That's absolutely wrong about the lottery ticket point. So in your eyes, Rick Schwartz (ricksblog.com) has always been waiting for that lottery ticket to hit jackpot one day. You have to have a clear vision and good research for that particular domain and strong backing (cash flow) in order to survive for those golden eggs which surely most of us have very few in our entire portfolio.

I suggest every domainer with very limited funds should flip domains in order to survive and keep the cash flow going and not try the method I am going with right now. Else, they will be stuck for sure. But once settled, I suggest to change the gear but that's all my suggestion.

I'm not saying holding your domains for the long run won't pan out. It sometimes will, it sometimes won't. As for Rick Schwartz: he doesn't have good domains, he has awesome domains. They get more valuable as time goes by. And after making millions he can afford the wait. Now let's be honest you nor me have the same quality domains as Rick Schwartz. Holding on to domains may not be the best strategy in mind. If it works for you now then great but who knows what the future will bring. You can't deny there's more certainty in selling a domain fast compared to holding it long term.

You keep talking about cashflow. Without sales there is no cashflow. If you keep holding all your domains for that "right" buyer then there may be some point in time where you will run out of cashflow. And what are you going to do then? Simple. You're going to flip some of your good domains for some quick cash.
In the end you will follow the strategy that makes you money. And so will I.

AbdulBasit.com said:
I suggest every domainer with very limited funds should flip domains in order to survive and keep the cash flow going and not try the method I am going with right now. Else, they will be stuck for sure. But once settled, I suggest to change the gear but that's all my suggestion.

Flipping domains does not mean you are a beginner trying to survive and holding domains for the long run does not mean you are an expert. It just means you are using a different selling strategy. I know plenty of flippers that are making tons of money. More than most of us are making, regardless of the strategy you are using.

AbdulBasit.com · Apr 27, 2016

Bram C. said:
I'm not saying holding your domains for the long run won't pan out. It sometimes will, it sometimes won't. As for Rick Schwartz: he doesn't have good domains, he has awesome domains. They get more valuable as time goes by. And after making millions he can afford the wait. Now let's be honest you nor me have the same quality domains as Rick Schwartz. Holding on to domains may not be the best strategy in mind. If it works for you now then great but who knows what the future will bring. You can't deny there's more certainty in selling a domain fast compared to holding it long term.

You keep talking about cashflow. Without sales there is no cashflow. If you keep holding all your domains for that "right" buyer then there may be some point in time where you will run out of cashflow. And what are you going to do then? Simple. You're going to flip some of your good domains for some quick cash.
In the end you will follow the strategy that makes you money. And so will I.

Flipping domains does not mean you are a beginner trying to survive and holding domains for the long run does not mean you are an expert. It just means you are using a different selling strategy. I know plenty of flippers that are making tons of money. More than most of us are making, regardless of the strategy you are using.

True. We both and most of us don't have that high quality domains like Rick is holding right now. Also there are trendy names which at some point will get boom and quickly they vanish. I try to buy those which IMO are always applicable and wanted by endusers. I normally avoid buying trendy names which I consider more of a lottery ticket than to those which are and will always be in demand.

If you read my previous post(s), I have clearly said that there are certain domains which are gold and many of us have very few in our portfolio and for those I am strongly suggesting to hold and ask the price you want after doing extensive research.

Both flippers and long term investors make money and in some cases flippers do make more than long term investors which is right. But you have to think and value your time because flipping takes most of your time and energy going after buying/selling of domains and there are plenty of other important stuff to handle and not just putting most of your time in it. Setting priorities, understanding and valuing the time and divide accordingly will make the life simpler and easier. Will take time but in the end you will have lot of time to do rest of the work.

DOMAIN ILLUMINATI · Apr 28, 2016

I would say the exact current value of a domain is the final intersection of how much the seller wants to sell it and of how much the buyer/s would definetely pay for it.

BrandClub.com · Apr 28, 2016

AbdulBasit.com said:
But I seriously don't agree with "that domain costs what the buyer is willing to pay." For me, it's that the domain costs what the seller is willing to sell at.

The domain costs what the seller is willing to sell at = EXCEPTION
The domain costs what the buyer is willing to pay = RULE

AbdulBasit.com · Apr 29, 2016

BrandClub.com said:
The domain costs what the seller is willing to sell at = EXCEPTION
The domain costs what the buyer is willing to pay = RULE

Completely disagree with your "rule". I have been selling almost all my domains at my desired price and that is most of the time higher than what most domainers would have asked for.

1john2004 · Apr 29, 2016

My biggest problem is I bought/registered too many Chinese 5L. com

DNScholar · Apr 29, 2016

Dtutahey said:
I think you're both have a point. Domain costs what the seller is willing to sell at, but domain can be sold
only if buyer is willing to buy it
I have GEO + practice area + attorney.com and my price is $149. City has 300,000+ people. What do you think - is this fair price? I listed my domain at Sedo and Flippa for now.

Sedo suggests price during listing what price they suggested.

BrandClub.com · Apr 29, 2016

AbdulBasit.com said:
Completely disagree with your "rule". I have been selling almost all my domains at my desired price and that is most of the time higher than what most domainers would have asked for.

Your "case" = EXCEPTION
Majority of domainer´s "case" = RULE

AbdulBasit.com · Apr 29, 2016

BrandClub.com said:
Your "case" = EXCEPTION
Majority of domainer´s "case" = RULE

:D

GangDoan · Apr 29, 2016

interesting topic, a lot of effort we need to ready on domaining.
learning is never end
sometime we buy to hurry and or selling too hurry, not wait for correct buyer.
what I learn is always research to the potential buyer

imc · Apr 29, 2016

Dtutahey said:
I think you're both have a point. Domain costs what the seller is willing to sell at, but domain can be sold
only if buyer is willing to buy it
I have GEO + practice area + attorney.com and my price is $149. City has 300,000+ people. What do you think - is this fair price? I listed my domain at Sedo and Flippa for now.

How many years do you have to live? Take it from me. Don't wait for a buyer from those 300,000 to come to you. They never may. Approach the law firms in that city yourself.

ctmixing · Apr 30, 2016

barefooted said:
You will read many times here in the forum that domain costs what the buyer is willing to pay.
There are many attorney related domains selling or sold in 100-300 range and only a few above 1,000.
In general, three words cost much less than two words domains. The bigger geo area is the more expensive is domain. Same for practice area.

If business worked that way everybody would be driving exotic cars and living in mansions.

Dtutahey · May 1, 2016

I contacted several attorneys and I still did not get any reply. Is someone interested in buying
this domain from me? Domain is TOWN + taxattorney dot com

AbdulBasit.com · May 6, 2016

Dtutahey said:
I contacted several attorneys and I still did not get any reply. Is someone interested in buying
this domain from me? Domain is TOWN + taxattorney dot com

How do you sell any domain without telling the full domain name?

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