advice Are the VIPs trying to keep Newbies out of the business?

[siyavuya]

Everyone here is saying that it takes a long time to sell a domain name (If you're lucky)
But when you look at sites like Sedo, Flippa, Afternic, and even Park.io I see 100s of domains selling daily and at a good price. I know not every domain will be a winner

Most of those domains are fairly new. So how come people here are saying you need to wait years to make a sell? Are people trying to keep the newbie out of the business?

Also have to say: Most of the advice I got here has been extremely helpful. Just a little bit worried about this part and it's the most important.

HELP

 

[namemarket]

Am fairly certain the average domainer sells approx 1% to maybe 2% of their domains a year, meaning it can take many decades to sell. So if you own say 1,000 names it could take 100 years to sell if my math is right..

I have never really checked but believe my own stats are even less than 1%. For many players it's a numbers game based on time and luck to a large degree.

 

[BaileyUK]

I think most old hands try to be very fair in their comments. Sure you see hundreds of domains selling, been like that for 25 years, hundreds every week. Now lets look at the 10's of millions of Domain registered, mostly by investors and speculators - put that into perspective or a even a ratio of domain sales to holdings and you'll get the bigger picture.

The reason people say years to sell a domain, is because most new domainers don't even know what makes for a good domain. Took me a couple of years to make my first sale (four years I seem to remember 2003)

What we are trying to do is stop new people wasting money like we did in the beginning. I really enjoy and get great pleasure from making positive comments and posts here on Namepros. but the reality is for every 'reasonably' successful domainer there are are probably 20+ that are going to lose money. Probably nearer one in a thousand for a really successful enterprise

for an analogy I'm a professional Chef by several years college training and top London hotels. I can never get my head around the number of people that start catering businesses or restaurants on a just a belief that they can cook. No wonder they all go broke (two thirds) within a two years and most don't even train to be Chefs let alone business men/women.

Same with domains .Anybody can do it - you just need a lot of patience and be willing to learn and yep very deep pockets, otherwise just stick to a part-time hobby approach, 20 domains is going to cost you around $200 a year if all hand reg. then you can feel part of the show and see how it goes

 

[siyavuya]

I am fairly certain the average domainer sells approx 1% to maybe 2% of their domains a year, meaning it can take many decades to sell. So if you own say 1,000 names it can take 100 years to sell them.

P.S. I have never really checked but believe my own stats are even less than 1%.

Thank you for that. If I may please respond to this...

Out of let's say 1000 domains, how many would you say are very good domains? If someone was to take all your domains away and randomly leave one of your domains would you stand by all of them?
Everyone has been advising me on my bad domain. Because it's not that good it might take years to sell. This does not mean domains take forever to sell. It just means a bad domain which no one wants takes long because of it's own poor quality.

Do you agree?

 

[BaileyUK]

No a terrible domain never sells, even if you wait 100 years.

Leave me 'at random' with just one domain doesn't make any sense. that's like having a restaurant with only one-dish. It better be the bloody best one ever created to have a chance of a profit. If you just left me with creamed potatoes or plain rice (it may be everyone's staple but i'll be broke)

Of course we all have domains that are not as good as some others we hold. the art is to perfect your portfolio not carry the trash - So back to the rice and mash potatoes again. You keep what you believe your customers want, even if the profit margin is not as great as prime steak.

If you want to be inventive in domains or food dishes, don't expect everyone to share your taste. Sure some people will just be polite, but don't expect them to come back to pay.

Only the professional food critic (or knowledgeable/professional domainer) will tell you the truth

 

[siyavuya]

No a terrible domain never sells, even if you wait 100 years.

Leave me 'at random' with just one domain doesn't make any sense. that's like having a restaurant with only one-dish. It better be the bloody best one ever created to have a chance of a profit. If you just left me with creamed potatoes or plain rice (it may be everyone's staple but I'll be broke)

Of course, we all have domains that are not as good as some others we hold. the art is to perfect your portfolio not carry the trash - So back to the rice and mash potatoes again. You keep what you believe your customers want, even if the profit margin is not as great as prime steak.

If you want to be inventive in domains or food dishes, don't expect everyone to share your taste. Sure some people will just be polite, but don't expect them to come back to pay.

Only the professional food critic (or knowledgeable/professional domainer) will tell you the truth

Wow, I love the way you broke it down. I understand that the selection is key. Hopefully, I can return in a couple of years and words of wisdom based on experience not what I see.

 

[karmaco]

If it seems that people try to discourage newbies that’s not exactly what is going on. They are just being direct and to the point.

Everyone comes in here certain there names are good and everyone wants an immediate sale to validate themselves and that this thing called domaining can work.

The advice given is from collective years of experience that even with great domains there is most likely a long waiting game and no immediate sale unless you sell it here in the bargain bin. It’s just the facts and you should not take it personally.

On the other hand, I do believe we are all in direct competition and there are people who would downplay a good name’s potential and then take it off your hands without a 2nd thought.

That is not however what happened in the case of your name. As mentioned earlier it’s because you haven’t been at this long enough to know what is not going to sell or what is a mediocre or just a bad name and why.

Having a bit of natural skepticism is to be expected when dealing with others in the same business but rarely do you see people publicly giving false advice to a newcomer here.

 

[Furquan]

Am fairly certain the average domainer sells approx 1% to maybe 2% of their domains a year, meaning it can take many decades to sell. So if you own say 1,000 names it could take 100 years to sell if my math is right..

I have never really checked but believe my own stats are even less than 1%. For many players it's a numbers game based on time and luck to a large degree.

I sold names for $500 to up $750 in my first year domaining, all were .co and all are hand reg

That's year I owned only 40 to 50 names, if I am correct not a single .com domain was in the portfolio

 

[Wali Dahot]

Everyone here is saying that it takes a long time to sell a domain name (If you're lucky)
But when you look at sites like Sedo, Flippa, Afternic, and even Park.io I see 100s of domains selling daily and at a good price. I know not every domain will be a winner

Most of those domains are fairly new. So how come people here are saying you need to wait years to make a sell? Are people trying to keep the newbie out of the business?

Also have to say: Most of the advice I got here has been extremely helpful. Just a little bit worried about this part and it's the most important.

HELP

I too am a two month old newbie without any sale yet and at first I too found the advice passed by seniors and pros as discouraging and criticism but then I understood they were right. Yes there are hundreds of domains selling each day but on the very same day, there are thousands of domains expiring too..

 

[namezest]

I can't agree it takes a long time to sell a domain, I have had numerous hand reg sales within days. Stick to what you know best, if someone else is into the same thing and you registered a solid name that makes sense, don't be surprised if you get $100 - $500 offers very quickly. Also if you are selling DO NOT USE WHO IS PRIVACY!

 

[siyavuya]

I can't agree it takes a long time to sell a domain, I have had numerous hand reg sales within days. Stick to what you know best, if someone else is into the same thing and you registered a solid name that makes sense, don't be surprised if you get $100 - $500 offers very quickly. Also if you are selling DO NOT USE WHO IS PRIVACY!

Thank you for your reply. What do you mean by don't use who is privacy?

 

[namezest]

Do not hide your contact info when registering.

 

[karmaco]

I too am a two month old newbie without any sale yet and at first I too found the advice passed by seniors and pros as discouraging and criticism but then I understood they were right. Yes there are hundreds of domains selling each day but on the very same day, there are thousands of domains expiring too..

Exactly and what is hundreds of domain sales a day compared to millions of registered domains? Just a tiny fraction. Of course some sales are private but still that shows how low the odds of selling a name are.

I too had beginners luck during crypto craze but that is the exception not the rule. When people ask questions we give them the truth just usually not accepted as truth til the person learns on their own.

 

[Tatiana Bonneau]

The domaining community is actually very supportive and this place is just the epitome of support if you are looking for an example There are literally decades of experience shared freely on just about any topic. I don't believe anyone is trying to discourage people, they are just being direct and that is a good thing if it can save you from making newbie mistakes. It takes years to learn as with anything else but you can advance quicker if you learn from others. I think the only bitter comments you get occasionally are when there is someone new who has not bothered reading everything there is to read and asks basic questions that have been answered gazillion times already because they are too lazy/can't be bothered to look. And that is understandable as it is disrespectful to everyone's time.

 

[Kate]

There are 140 million domains registered in .com alone, and even assuming the reported sales are only the tip of the iceberg, sales remain the exception and not the norm.
Statistically the odds are stacked against domainers unless they own above-average names.

So the majority of domainers are losing money. Yet they make sales from time to time. But if the sales do not pay off for the renewals and the acquisitions then you are not being profitable.
The problem is not to make sales, but make sales often and maintain a positive balance.

And if you have observed the domaining scene for some time, you should have noticed there is a lot of money wasted in domain names. Literally burned ablaze. Spending money is the easy part...

 

[Bob Hawkes]

It is not that anyone can say a particular domain will not sell quickly - you only need to browse the completed sales thread at NPs to find lots of cases of quick turnaround. But these are balanced by many names that never sell.

I've crunched the industry wide numbers a lot and am convinced that on average domainers lose money and over all domains actively for sale the chances of a domain selling (excluding sales in $$) in any one year are about 1 chance in 100. That is a statistical value across all domains. Some sellers and types of domains do much better and some much worse.

Let's say a domainer holds 50 domains. Odds are a sale every second year. I don't say this to discourage people but to make sure they are being realistic. If they are average that is how many sales from an average value portfolio.

Could the sell through rate be better than 1%? Absolutely. Whoever can figure out a way to sell a higher fraction will be in a strong position.

I think that innovative ideas on different ways to market domains are most likely to come from new domainers who have the courage to try new paths.

Bob

 

[equity78]

Everyone here is saying that it takes a long time to sell a domain name (If you're lucky)
But when you look at sites like Sedo, Flippa, Afternic, and even Park.io I see 100s of domains selling daily and at a good price. I know not every domain will be a winner

Most of those domains are fairly new. So how come people here are saying you need to wait years to make a sell? Are people trying to keep the newbie out of the business?

Also have to say: Most of the advice I got here has been extremely helpful. Just a little bit worried about this part and it's the most important.

HELP

First no, it does not have to take years to make a sale. You can sell names quick, your profit margin might be lower, most likely will be lower.

Before we ever get to selling domain names, the first question one has to ask oneself in 2019, Why do I want to be a domain investor?

Possible answers are:

I think it's easy (It's not)
There is a low barrier to entry and startup costs can be minimal. (That can be a plus and a minus)

I am well versed in linguistics and this just seems like a natural fit.

I love to name things, I am the person that named the family business, I have given friends names for their product or service, I really enjoy doing that.

I just believe in the growth of the Internet and believe it still has a long way to go. (maybe investing in Verisign or GoDaddy would be a better opportunity).

But you really need to have a firm answer and understanding of your answer as to why you are doing this.

So now let's say you have bought some names, most newcomers tend to handreg.

So now onto the next set of questions,

Why would someone buy yourfirstdomainreg.com? Who is best suited to buy the name and how would they use it?

Make sure your answers are rooted in sound logic, not "it sounds cool", " solely because it's shorter", "it's a typo of a tm".

Understand the industry, not just assume you know the industry you believe the name relates to. People constantly post about tech sectors that after they post, it's easy to figure out that they don't understand the business at all.

There are a lot of ways to play this business, you need to determine if you are looking to flip for quick small profits, keeping a lean portfolio. Or you want to build a portfolio of 2,000 brandable domains like you find on BrandBucket. You might want to invest in a couple valuable names and hold for 10 years, I was handregging 4N.coms today they are min five figures to purchase in the aftermarket. Maybe you want to buy some CVCV.com (just an example, not a recommendation) and hold out for the perfect buyer.

First and foremost have a budget and stick to it, do not keep regging names and never make any kind of sale.

 

[Furquan]

I just to add here something for all Newbie, There is money in domaining but you need to learn quickly, Learn what gets sold, don't buy crap from aftermarket for 100s or 2000s not here for sure. because here every pro is domainer and they knew most of the time the true value of there domain name. before selling to you they have reached all the possible end-user and after failing to sell they sell the domain name to you. If you buy from them you will end up losing as no one will be willing to pay more then what you have invested.

Invest little money the first year, I would recommend hand reg or buying silently for as cheap as you can, Use your brain, always buy names which have many potential end-user. Make google your friend, have a lookup of Namebio.com reported sales before purchasing the name.

Its what I learned here in my domaining career.

 

[equity78]

You can buy names at Namepros and resell them, I bought iBackgammon.com here at auction for $146. https://www.namepros.com/threads/7-...at-1-for-each-no-reserve.600484/#post-3530809

Sold on Sedo year later for $2,500. https://namebio.com/ibackgammon.com

That is just one of many examples.

 

[chuckworries]

afdaijwaiwjfiw123.com is available, but no one ever wanted it, not even for free.
But you can sell abcd.com anytime you want.

 

[WatchDogue]

Re your title and premise " Are the VIPs trying to keep Newbies out of the business? " my response as one so titled is an emphatic ABSOLUTELY NOT!

Why would I and perhaps hundreds of others likewise titled members care to keep you or any newbie
" out of the business" ?

Actually, many domain veterans might welcome newbies as a possible buyer of one or more of their domain names or, as purchasers of various domain related services they may offer.

( Personally I have never offered a name for sale on NP or service available on the NP site).

IMO most of the VIPS on NamePros are very generous in offering their hard learned domaining lessons to newbies and try to share wisdoms learned at their own personal financial and time expenses to newbies.

 

[1Darko]

I'm a VIP and still a newbie

 

[xynames]

I just to add here something for all Newbie, There is money in domaining but you need to learn quickly, Learn what gets sold, don't buy crap from aftermarket for 100s or 2000s not here for sure. because here every pro is domainer and they knew most of the time the true value of there domain name. before selling to you they have reached all the possible end-user and after failing to sell they sell the domain name to you. If you buy from them you will end up losing as no one will be willing to pay more then what you have invested.

Invest little money the first year, I would recommend hand reg or buying silently for as cheap as you can, Use your brain, always buy names which have many potential end-user. Make google your friend, have a lookup of Namebio.com reported sales before purchasing the name.

Its what I learned here in my domaining career.

This guy if you review his posts says a lot of things that are opinion as if they were fact.

Assuming what he says is even true - he seems to be advocating buying hand regs only and never after market - just because this worked for him during a given period doesn’t mean that is the way to go for everyone. Or that it will continue to work for him.

I do agree that a lot of garbage is offered for sale at NamePros but that definitely does not mean categorically, as this guy seems to be saying, that buying a domain for aftermarket price is a bad way to go versus hand registration. Quite the opposite is in fact the truth for most new domainers. Most of the hand regs you’ll find today you won’t make any money off of versus paying something higher than reg fee for an undervalued domain might give you a better chance at resale for a profit.

 

[biggie]

Are people trying to keep the newbie out of the business?

Hi

if your picture, is a picture of you

then i'd never try to deter you from doing anything you wanted to



those who are determined, don't get deterred easily

imo...

 

[Fancy.domains]

I sold more than 10% of my names in both 2016 and 2017. But “only” about 7% in 2018. Still, my profit was much higher in 2018. Simply because I stopped focusing on selling names to other domainers. So theoretically you might earn more from selling one name in ten years, than a thousand. But practically, this is obviously extremely rare.

Instead, I think domaining newbies should focus to learn how to add reasonable prices for their domains. If you, as a newbie, price hand-regs for $xxxx (or even more), you’ll probably sell very few names, if any...