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Buying domains without a reason

Labeled as discuss in Domain Buying and Domain Purchases started by Amar D, Jun 21, 2019.

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  1. Amar D

    Amar D Established Member

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    Hello,

    I think that I have a problem. I'm buying domain names without a reason. I think this is some kind of addiction, like gambling/alcohol etc. Buying too much domains without using them, or success of sale them. But when I see some keywords in media, I'm instantly searching for domains with that kw to try to resell it. Sometimes I fu*k my whole salary on that. Do you have that kind of problem with domain buying obssesion?
     
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  2. korganian

    korganian Top Member VIP ★★★★★★★★★★

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    I did at first until the credit card bills started arriving.:xf.cry:
     
  3. bmugford

    bmugford www.DataCube.com PRO ICA Member VIP ★★★★★★★★★★

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    I would say a lot of people have an addiction when it comes to domains. It is always on their mind.

    If you want to make money though, you need to treat it as a business.
    You buy domains that have a realistic chance of selling.

    Brad
     
  4. MrAcidic

    MrAcidic Upgraded Member Gold Account VIP

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    no - I only spend what I can afford to lose, it is a hobby for me not a business.

    I hope the hobby becomes profitable, if not then I will not be losing any sleep over it....
     
  5. adrey

    adrey Established Member

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  6. Internet.Domains

    Internet.Domains Top Member VIP

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    Purchasing domains releases serotonin and dopamine levels in the brain. To counter or reverse the problem consider the renewals will come fast.:xf.grin:
     
  7. Bob Hawkes

    Bob Hawkes formerly MetBob NameTalent Gold Account VIP

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    It is a serious question you raise @Amar D. I don't think that domaining is in the manual of addictions, but it could be. It has some features of gambling and game addictions, maybe others.

    There is no one solution but I have found it helpful to set limits on amount I will invest or number of domain acquisitions until the next sale. I think it is also helpful to define at outset if you are in it as a hobby, part time gig or more. Keeping balance with other things in life is also important.

    I personally have same framework as @MrAcidic. I am in it essentially as a hobby and invest only what I can afford to lose.

    I think most of us have had the feelings you have. I hope you find solutions that work for you.

    Take care,

    Bob
     
  8. RegBoss

    RegBoss Upgraded Member Gold Account

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    That was funny! I had the disease also. Now I try an use a little logic. Why am I purchasing this? A lot of hype about different currency nowadays. Whether is is Libra,bitcoins,blockchain, etc. They all seem to call it crypto currency. This is the logic for the reg today. I went snooping and the different spelling was still sitting there.
    CryptoConvertors in King. Should be worth a couple hundred anyway. Could be made into an app or resource site easily. Something people will come back to. My IT work for today is done. :xf.grin:
     
  9. MrAcidic

    MrAcidic Upgraded Member Gold Account VIP

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    Hope your doing well Bob, have not seen you around much unless we are following/commenting on different threads :xf.smile:

    I think the only addicting part of this industry for me is the learning side, It has turned me into a knowledge junkie. I love reading about new tech, new trends and the latest industry news (whatever sector it may be).
     
  10. Ostrados

    Ostrados Entrepreneur VIP

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    I am very selective in buying domains, when I started domaining I fell into the impulse buying trap (where your decisions are not rational most of the time) especially when browsing drop lists.

    What I did to counter that is simple: whenever I am searching for new domains or browsing a drop list, instead of buying the domains I am intetested in immediately I add them to a notepad file, after I finish my search I end up with a shortlist of the best domains I found, I go over this shortlist again slowly, and this time I find that many names were stupid (what I was thinking!), I filter the shortlist and end up with very few (but decent) domains that I actually go and register/buy.
     
    Last edited: Jun 21, 2019
  11. WatchDogue

    WatchDogue Top Member VIP

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    At least you are seeking out and apparently buying some keyword domains as mentioned / seen in media, so there is at least some rational thought going into those names you acquire.

    We had early successes with names we acquired in the '90s and that tended to give me the belief
    I had a " magic domain touch ".

    So many more names followed and their renewal fees swallowed up any belief in a midas calling for domain registration. Hours a day were spent searching out and often acquiring the " next great names " that never materialized.

    Eventually common sense returned and domain acquisitions were far more judicious and well reasoned.

    For the past 15 years or so every time I acquire a domain I try to be certain about it's appeal to it's potential target market, it's costs for the 5 + years I usually keep a name at a minimum, and its' likely competitors in the marketplace.

    IMO the search and purchase of domains can become a bit addicting for some, so might it be best to keep your money where it belongs for a while, in your wallet, while you slow down the buying that is a concern for you.
     
    Last edited: Jun 21, 2019
  12. Bob Hawkes

    Bob Hawkes formerly MetBob NameTalent Gold Account VIP

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    Yeah I have been under the domain radar for a few weeks or so, for a variety of reasons, but back into it the last few days. Always enjoy your posts.

    I think for me the most addictive part is related to fear of missing out. I need to keep reminding myself that there are a universe of domain names out there, and I don't necessarily need any particular one!

    Take care,

    Bob
     
  13. NameDeck

    NameDeck Design. Develop. Deploy. VIP

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  14. fiftyfrancs

    fiftyfrancs Established Member

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    I must confess we are here together, I am almost exhausting whole month funds on domain acquisitions, though these are 'very good names' or at least sounds consoling. seems like I registered the most names in the 'Your Reg of the day' thread in the past 24 hours or so. I think I should use some advice here too or... dammit! I just registered another:tightlyclosedeyes::tightlyclosedeyes:

    it just won't stop:xf.rolleyes:
     
  15. Bob Hawkes

    Bob Hawkes formerly MetBob NameTalent Gold Account VIP

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    I find the hardest time not to be addicted is right after I make a sale and the money is sitting in my PayPal account saying spend me, spend me! :xf.eek: I find it easier to be disciplined if I have not sold anything for some time.

    One thing I try to do is never get a domain name on the first day I consider it. Yes, you lose some this way, but I find if I wait and make sure that the next day I still want it and think it is a worthwhile acquisition at least as much as the previous day, then I proceed, perhaps, but if I don't feel as positive, I wait another day and think about it some more. I broke my rule this week, and you guessed it, feel buyer's remorse to some degree (it was a tiny amount so does not really matter).

    I only rarely enter auctions, but when I do I first set an absolute firm upper limit I would pay and never let myself get pulled beyond that.

    Bob
     
  16. Amar D

    Amar D Established Member

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    It's like gambling. You go to casino aparat, invest 10$ and maybe win 200$.
    I sell domain that I paid 0.99$ for 400EUR. And then party goes on. I just start to buy domains, that I think it's smart to buy... but at the end they expire unsold. Money wasted.
     
  17. MadAboutDomains

    MadAboutDomains Top Member VIP ★★★★★★★★★★

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    It sounds like a lot of us have this problem or feelings that it's addictive. For me it is a hobby but I also make a decent sale every now and again.

    I bought a name the other day for about $1,000 USD and the moment I sent the money over and received the name I felt a wave of disappointment come over me and I was slapped with the cold realisation that it might be impossible to sell it on. Whilst in reality I can afford to lose the money, it doesn't feel good knowing I just essentially threw some money down the grid.

    Admittedly that doesn't happen too often, I'm usually hot on the heels chasing a new domain that I know that I can sell and that I don't feel buyers remorse for after I've bought it.

    For me, I can get over excited and bid too much on names, but most of the time as long as I feel like I can flip it for the same amount or more I'm not upset by it. I just don't do it too often that I'm losing money that I can't afford, when that happens I'll know I'm addicted. (y)
     
  18. Tunababa8v

    Tunababa8v Established Member

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    I had this at my very early days in domaining but I am getting better now. Renewal bill is a good therapy. You will get better bro.
     
  19. Ategy.com

    Ategy.com NameCult.com Gold Account VIP

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    Hello .. My name is Ategy .. and I'm addicted to domains! :-/

    I reduced my acquisitions slightly since I started "domaining" about 2.5 years ago (I had domains long before that, although only with development intentions, and not with the intent to buy/resell actively). I'm still buying these days (I had slowed a bit earlier this year, but too many amazing acquisitions to resist lately .. lol).

    That being said .. I'm making good sales and I've already made enough sales to say that 2019 will definitely be profitable for me even if I don't make any more sales until the end of the year. Because of my deep diving into the daily expiration auction lists I'm able to find great domains that I end up getting at relative bargains .. so the profits on my sales are huge relatively speaking to the average domainer.

    All that and I still haven't priced or listed a large part of my portfolio at all the marketplaces (I'm too busy posting lists for all of you here and at NameCult .. lol). I'm probably running at about 30-35% of what I should be just for that .. so I'm not too worried overall. I also don't really have landing pages at this point .. plus I still haven't done any outbound at all. So as great as things have been going, there's actually significant room for me to be doing a lot better! :)

    I had a huge debt from a past business because of the death of an overseas middleman in the middle of our biggest transaction .. added to that my place got flooded last year and I'm still fighting the insurance. Both my mom and dog had been sick and had operations. I still have my full time (non-tech) job where I've had my own health issues with serious knee problems. But thankfully I've been able to take money out of my domain sales to pay those debts. So ironically my "addiction" has actually saved me! :)
     
  20. droned

    droned Established Member

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    Just look at your portfolio and say I should sell something...
     
  21. Rory Ivey

    Rory Ivey Top Member VIP

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    Many of us can relate bro.

    For me i amassed up to 660 names at one point. I'm about half of that now.

    The problem is registering over and over and not having a sales or liquidating strategy.
    It's a business, so each name you buy that doesn't sell is a loss. It's like going in a food store and just throwing away stuff off the shelf...

    Where our names are registered plays a role too..because I tried organizing my names at Godaddy and there was no way to do so effectively. A good domain management tool or process is vital. I had to stop watching drop lists for a long time too...because i couldn't resit buying names.

    I'm not 100% where I want to be yet, but I'm improving daily.
    Just make sure you're making sales, even if it's small. Because one way i messed up is not selling any names and waiting for a big fish to fry. Well that fish can take years to come or never come...so you are left with a bunch of renewals or losses. I still have to break being emotionally attached to names.

    And remind myself this is a damn business. Treat it as such.
    I will only hold on to names I certainly plan to develop myself.
     
  22. Sumeeth

    Sumeeth DomExpert VIP

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    Yes, domaining become addiction and we keep on buying domains thinking if sales..
     
  23. NameSplice

    NameSplice Established Member

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    I had to put a rubberband around my wrist and "pop it" everytime I wanted to reg names on impulse or FOMO (Fear Of Missing Out)
    Now I was able to watch the Libra/Calibra,
    5g, Magic Mushroom/Shroom showcase threads without regging a single name.:xf.smile:

    Joking aside
    If this is happening and affecting your life financially, step away man and take a break from domaining.
    If you can't, I would say there is a problem and you may need to seek professional help.
    No need to lose all your money, go into depression,ruin a marriage,or worst over domain names.

    Imo
     
  24. Amar D

    Amar D Established Member

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    I live in Switzerland, my salary is 4900 CHF per month, so imagine to spend a lot of that money just on domains. Also using sometimes card of my wife, that's another 4200 CHF.

    My first obsession with domains started in days of MSN (Windows Live Messenger) when you could create address with your domain eg [email protected], so I was buying a ton of domains and changing my MSN ID. I was always looking for beautiful email address to have.

    I think I will start to use niceguy96ch_Fu @ hotmail com to cure myself from that hahaha.

    Also after that I was doing cybersquating and I didn't know anything about that term. Swiss companies were buying domains just normally from me when I offer it to them. After that I make little sales of 400€ once in 5 months. But spend ton of money. More in minus, than in plus.
     
    Last edited: Jun 22, 2019
  25. MrAcidic

    MrAcidic Upgraded Member Gold Account VIP

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    why would you post your personal email address/s on a public forum?
     

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