Labeled as question in Domain Buying and Domain Purchases started by DefinitelyDomains, Aug 15, 2019.
stop buying domains?
The question is a bit broad, do you mean if you have had no success selling?
I would say everyone should know why they are a domain investor, should stick to a set budget and have a safety net for a great buy that might come along.
It can be a lonely and depressing business at times, and I would say when one gets frustrated to the point that they don't want to put in the time to
track recent sales
keep listings up to date
watch closing auctions daily
check the drops
It's probably time to take a break and come back refreshed.
When you become so old that your eyes cannot see, your ears cannot hear, your hands cannot type, and your brain cannot think...
when you havent sold any names in a year
This got me worried
I have virtually no hearing above about 150 Hz (I hear those deep notes so well though )
Things look fuzzier and fuzzier on the screen each year and my eye specialist shows me pretty images that show my eyes getting worse each year
However on the bright side....
I can still type up a storm!! (as you have probably all noticed, and at times groaned about )
So I will stay in domaining for a while!!
Being serious, I think @equity78 gave a superb answer above. If you no longer have passion for domains and are not keeping up with things, it is time to move on, I would say.
One should stop buying domains when/if realizes that costs of purchases + renewals are way greater than sales. If you play with domains for a couple of years and see a big hole in your budget, perhaps is time to look for another hobby.
Unfortunately many "domainers" are delusional
When they pry the mouse from my dead, cold hands.
That happens to me every day...about this same time.
If you are having great fun with your domain names, do it, and buy more!
If you do not have great fun, do not do it.
Always do what makes you happy
You should have fun with your activities, as otherwise, what is the point of all effort ?
Stop buying domains after the second drink. Wait until morning to start again. Basically just follow the laws surrounding drinking and driving.
When you're not selling any of the ones you already own.
I'm serious - it's easy to buy domains and very tough to sell them, so if sales are languishing then you need to take a break from buying and put more effort into selling.
That includes keeping your marketplace listings up-to-date, adjusting pricing if necessary, putting some BINs on impending renewals you are not sure of keeping, evaluate any new or unused domain marketplaces, and of course, outbound marketing (in a professional manner).
I used to spend nights going through the auction listings, picking what I wanted to keep track of, marking down my max price, etc., then I went through a bit of a dry spell over the last few months - lots of interest and minimum offers, but zero sales.
So a few weeks ago I decided to split my nights between buying and selling duties. I finally got around to listing some of my domains on DAN.COM, I went back to Afternic and *finally* forwarded them ownership proof of some long-stuck-in-review domains (old owner still had them listed), adjusted some prices, added a few BINs, *finally* replied to some Afternic "leads", and even did an outbound campaign.
And you know what, I sold 2 domains for low 4-figures this week - nothing life-changing, but it is forward movement and I like that. It also proves that you need to put as much (if not more) effort into selling your domains as you do buying them.
stop buying domains???
are you crazy?
When two men fight with wooden sticks during the war. Means after the collapse of all technology.
It is all about accounting. Set up excellent accounting system just like a business and compare things, monthly, yearly, with yearly being the most important. If it is big loss and you cannot afford to take that then you stop.
Stop buying domains when your money finish
Ok am kidding on that one,
if you have bought let's say 10names sell at least 2 then go back to the market and buy another 5, with the profit gotten, slow and steady always win the race, with these formula your portfolio will increase with time.
But that doesn't mean, one should not follow up on latest updates.
What you have to do is shortlist good names you wish to buy once you get a sale.
You know what I noticed, sometimes when I have shortlisted a name, I will come back tomorrow and un-shortlist it
With that pattern I have become less addictive with buying of domains, and I see it now from a different angle.
This is a really good idea, and it's what I do when I've refused to buy any more domains until I sell one - it not only costs nothing but it will improve your portfolio quality in no time flat, because as FavourB stated, it's an ongoing process that will organically curate your list over time.
Do the same to your renewal list, what you're going to keep, what you're going to drop, what you'll keep if you get a sale, what you're dropping no matter what.
And most important of all, stick to it and after you've made your final decision, don't second guess yourself on a drop or a keep. You're the one who's going to make or lose money, so always stick to your guns.
So around 20-25 years from now?
When a day passes without any desire to go through Namepros even though you have the time
No, this is not possible in our time.
People lose electricity for a few days and its like The Purge. Once we run out of ammo, then out come the swords.
That's why Bill Gates (and Zuckerberg, Bezos, Ballmer, and all the other billionaires) have luxury bunkers on every continent, and many own entire "doomsday islands" complete with turrets, missiles, and armed guards. Did you know that where ever these guys are in the world, there is a fully-fueled helicopter fired up and waiting nearby on a rooftop or airfield?
These guys are pretty smart and have the resources to extrapolate the data, and they're scared sh*tless. They know what will happen, just not exactly when.
We're adding a million people to Earth every 2 days, animal diseases are reaching pandemic proportions, at this rate most natural resources will run out in 10-15 years, corporations keep polluting the world, and most scientists give us 25 years at best before it all melts down. Why do you think people born in 2000+ are so freaking apathetic - they arrived just in time to see the world burn.
If a big company rob my best domain claiming that belongs to their trademark (but it's not true) and win the lawsuit, I might be going crazy and dump all of them.
All humans turned zombies.
You mean like, last year
you stop when whatever strategy or rationale you used to buy them doesn't lead to any sales.
After you have exhausted all the options to sell your domain and then realize it was a bad idea
After you realize that all your domains fall in the above category then maybe stop buying and find a new strategy
Or find a new job
Separate names with a comma.