advice 90% of domainers should start over

[equity78]

Rick Schwartz made a pretty interesting tweet yesterday that I think will bring about a great deal of conversation. Rick stated that 90% of all domain investors should look to reboot. Drop everything and start over again. 90% of every domainer should drop ALL their #Domains and start again! They are so far off the path that it is sad to see. #gtld #Startups — @Rick Schwartz … [Read more...]

 

[Kate]

Notwithstanding the foul language, he is only stating the obvious. The majority of domainers are not profitable, 90% seems generous to me. It's not controversy, just reality.
The sad thing is that they are fooling themselves.
And how many are paying tax on domain revenue ? If you're not paying tax it's not a real business...

And it's not like he got a chance that we didn't get, many of us were already adults in 1993. We simply were not paying attention. I missed the boat too. But you can always make money, even as a latecomer. Some successful domainers are latecomers (eg Schilling).

 

[JoeE]

Rick is great and he has an eye for great domains and has proven himself through the years. BUT although I'm a big fan of his, I think he went overboard in his comments and responses to legitimate questions and comments regarding his tweet. I think he can and should be better than that. It does not take much to trigger his anger, and he doesn't hold back nor measure his responses. It's was sad and disappointed to watch. I hope he can rise above this petty exchange and tune down his super inflated ego just a little. Calling someone an a$$hol3 and cursing everyone who questions his statements is just too much!

 

[Smiles76]

I'll only add that Rick didn't know years ago how things would turn out. He continues to make educated bets every day. I have sold/dropped domains only to get offers later. Depends a lot on the budget.

I will also add that selling a domain name for $1 is better than just dropping it. Even giving it away is better. Drops are fine, but if you can make $1 it's better.

I disagree. He was in sales before becoming a domainer. He clearly knew that buying up all of the premium domains would create artificial scarcity thus driving up the asking price.

 

[Marshall]

”90℅ of domainers should drop their names"

Yeah Yeah, 90℅ of domainers should drop everything,
then start again,
all the hassle and hustle,
Again.

And the rest of the 10℅ including him will watch the show,
getting the best view of the chaos from their VIP seats.

 

[frank-germany]

Notwithstanding the foul language, he is only stating the obvious. The majority of domainers are not profitable, 90% seems generous to me. It's not controversy, just reality.
The sad thing is that they are fooling themselves.
And how many are paying tax on domain revenue ? If you're not paying tax it's not a real business...

And it's not like he got a chance that we didn't get, many of us were already adults in 1993. We simply were not paying attention. I missed the boat too. But you can always make money, even as a latecomer. Some successful domainers are latecomers (eg Schilling).

Rick Schwartz‏Verified account @DomainKing 20h20 hours ago
They said: "He got in early" in 1998/1999/2000/2001/2002/2003/2004/2005/2006/2007/2008/2009/2010/2011/2012/2013/2014/2015/2016 #Domains

 

[Kuffy]

I'm starting over again, but I'm keeping my old names. I don't want to drop them for Rick "the Black" to pick up for reg fee.

 

[MapleDots]

And how many are paying tax on domain revenue ? If you're not paying tax it's not a real business...

Been saying that for years.
Also paying tax you can write off your losses and expenses.
With Paypal and the likes now reporting to IRS and Canada Revenue there is really no hiding anything.

 

[frank-germany]

today guys I officially announce my new favorite Rick Schwartz quote:

Rick Schwartz‏ @DomainKing 5h5 hours ago
Some guys can't get laid at a whorehouse with a fist full of $100 bills. Some #domainers can't pick #Domains with wallet full of $$$ either!

 

[1Darko]

I'll only add that Rick didn't know years ago how things would turn out. He continues to make educated bets every day. I have sold/dropped domains only to get offers later. Depends a lot on the budget.

I will also add that selling a domain name for $1 is better than just dropping it. Even giving it away is better. Drops are fine, but if you can make $1 it's better.

I agree 110%

 

[Lox]

The difference is:
While our (90%) primary focus is normally on “Price Range", his primary focus is "Let's focus on the big picture here."

He adjusted the focus on the lenses so he can spot the Eagle looking straight up into the sunny sky.
By contrast, with most of us living in these vast domainhoods where we can sometimes see sparks.

(5cents)

 

[imadoer]

I only been domaining for a few years but I find my self to be in a recycling process all the time weeding out what to keep drop or liquidate. its always a good idea to go evaluate your portfolio every few months. Skills get better with time. I don't know about people 90% of domainers starting over but if your not making money it maybe time for a evaluation on your portfolio.

 

[DaveX]

To me, "Starting Over" is more about rethinking all aspects of my domain business to be most effective and profitable. Certainly that includes refining my portfolio as needed to achieve my goals.

 

[biggie]

Personally I disagree with this. I put too much time and effort in researching the validity of regging a domain, that if it can't sell it for at least $20-$30 here on NP or somewhere, then I'll just drop it. If someone thinks it's worth them having it, they can pay the $60-70 drop fees to grab it then. (Just my views on this, others may digress.)

i'm in line with this philosophy

i'd rather just let the names drop, so any interested parties can bid for them thru backorder.

imo....

 

[outsof]

don't let success go to your head ..

 

[dnk]

It is a very unprofessional comment, why should a domain investor who has spent a lot of time and money selecting and managing the domains, drop all the domains

 

[wwwweb]

Donald Trump does the same thing, says something out there to get attention, same situation here.

What happend to the $1M buys, ended up buying $xxx domains, lol

Give the domain king respect, but enough is enough, even he probably thinks the aftermarket is overheated at this point. People are paying end user prices in auction formats, whats the point?

Most domainers are chasing quick money because of what they have seen in media advertised to them, sweetheart stories, the industry is simply not that easy. Let them spend their money, when the end users laugh at their quotes, and they wonder why nobody is buying their domains that they spend thousands acquiring they will get it.

When domainers are paying like $10K for domains like evertrust.com in auctions, something is not right, these names sold for $xx-$xxx not to many years ago. It is very hard to spend 5 figures, if you go thru an exchange you need to sell it for $12K just to break even.

 

[Nice Guy]

You need to develop a habit for research and reading. It has helped me the most and it is the best advise I can offer.

Great post +1 for this comment on everything in life.

 

[Nice Guy]

Isn't the intelligent investor one of Warren buffetts favourite books? He being one of the world's best investors

Didn't Bill Gates talk Warren Buffet and other billionaires to give all their money away now? Thought I heard something about that a while ago....

 

[Nice Guy]

http://www.domainking.com/

Wow...not for nothing, and being new and all at this, but looking on his list of recent acquisitions, I suddenly found hope in my list of 600 unregistered domain names and certain that I have some gems now. If the "King" is purchasing "NoOneCares.com" then I know my list is pretty darn good!

Glad I read this...many of the names I come up with are not that far off from what he is actively purchasing. It also further confuses me about all this talk about "if nobody registered it by now, you have to ask yourself why..." kind of stuff. I have at least ten (and probably many more) names that blows NoOneCares.com away.

Thanks for the reading

 

[fatter]

why drop them,so I can reg them in the future again, Ive actually done that with qiuete a few names,
Joe T