Once upon a time, domain trading was synonymous with making a quick buck online. And some people have got extremely rich doing so. But the majority of domain traders are still waiting for that life-changing deal.
Back in the early 90s Rick Schwartz was a furniture salesman. A tough job. But in 1995 the US native stumbled upon a new idea, somewhere between kitchen tables and upholstered furniture: he could just go out and buy internet addresses and sell them on for a profit. So he got out of the furniture game and bought a huge number of domains. It was a decision that he would never regret. Today, he is one of the most prominent figures in the global domain trading business, and one of its most successful investors. Without any false modesty, he calls himself the Domain King. Schwartz registers and buys domains – and is so good at it that every now and again he can sell them on at extremely high prices. In 2003 he parted company with men.com for a cool USD 1.32 million. And he shares his business model with the world on twitter and via his blog. He regularly sends out tweets saying things like: “Domaining is the greatest business ever!!”or “What used to be a game played by only a handful of people is now a flourishing industry.”
read more (nic .at)
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