Can you tell me what mistakes you made in domain investing

[andrewwilliams54323]

Can you tell me what mistakes you made in domain investing because mistakes teach us a lot?

Thanks

 

[andrewwilliams54323]

Buying and even renewing rubbish names and other usual mistakes are par for the course, but my greatest mistake has been selling too cheap and thinking that I could make it up in volume (profitwise). I was trying to be competitive (which is pointless when you're selling unique assets) and concentrated on not losing a sale because of a ”high” price, not realizing that I could also lose a sale by pricing too low. Price signals value and quality, especially to some people and to some extent (I’m not talking about moonshots here).

Thanks for sharing about your mistake

 

[andrewwilliams54323]

Hey, Please keep sharing your mistakes because it will help everyone in the NamePros Community

And thanks a lot to everyone who shares their mistakes

 

[Bob Hawkes]

Thank you for sharing such a complete answer. Superb advice in this one post:

1. Selling at the wrong time.
2. Not sticking to my price.
3. Buying at the wrong time.
4. Holding domains for too long.
5. Not accepting offers I should have.
6. Buying into trends.
7. Not keeping accurate records of domain financials.
8. Needed to learn to drop domains.

Sometimes learning what to drop, and actually doing it, is the most important part of staying profitable, I think.

While some have made a lot on trends, I suspect that overall more people lose money than make money on every trend.

-Bob

 

[VivifyDomains]

Selling domains at wholesale for $75 that I wasn't planning to renew.

Roughly 15 domains in total so far, and almost half of them turned out to be to end users (sites developed now) who probably would have easily been able to pay at least $499 for these.

I've now raised my floor prices to $499 since even if I sold 2 instead of 15 I would have made roughly the same money, if I sold three I would be way ahead.

Painful

 

[andrewwilliams54323]

Thank you for sharing such a complete answer. Superb advice in this one post:

Sometimes learning what to drop, and actually doing it, is the most important part of staying profitable, I think.

While some have made a lot on trends, I suspect that overall more people lose money than make money on every trend.

-Bob

Thanks Bob

 

[DanSanchez]

• Buying domains and forgetting about them for months.
• Not implementing a monthly (sometimes weekly) audit on pricing.
• Buying too many domains in a single day.
• Not renewing the domains for 2x - 3x years that are long-term keeps.
• Trying to build a massive sales site to save 20% commissions.
• Not liquidating before expiration.

 

[Acroplex]

I once listed a LLL .com on eBay without reserve.

 

[Paperhand]

- not being way more restrictive with purchases: put 10 on the shortlist, get 2, max 3 after sleeping over it. Especially when riding a trend, or when trying getting ahead of it, which still is the same thing.

- not getting the right ones onto the shortlist, but I guess that won’t change. I recently checked up on my saved for later domains, and I stopped after the first 20, 30: too many serious projects have built on a couple of them. (I do mostly handregs)

- trying to beat the market with xyz regs. LOL it’s a small part of my portfolio, but still LOOOL

- taking dopamine hits from visitor's stats.

- not asking well enough for answers, and not moderating my threads well enough in this forum. Or not nearly as well as you on your first days. no irony here, I like your way. Domaining is mostly a single player’s game, you have to get an edge to be ahead of the pack. However, this forum has still quite a good balance imo ego vs. team spirit wise.

 

[nononsense123]

going too wide instead of deep.
If I had to do it again, my domain count would never approach 500. It would be 10 or 20- none of them handreg- all of them acquired.

 

[marijuanadomain]

Did anyone die?? In domaining?
Then it is not a mistake,it is part of the learning process.
It is self created

Life goes on

 

[GoKaizen]

Yup, happens all the time.

While some have made a lot on trends, I suspect that overall more people lose money than make money on every trend.

 

[pb]

The biggest mistakes that I still remember are not buying or renewing wrong domains, but passing on some cool domains that I literally had sitting in my cart. I'd take wasted money over wasted opportunities any time.

 

[Sperry8]

Biggest mistakes were:
1- Buying anything other than .com.
2- Renewing domains too long after years of no interest.
3- Holding too large of a portfolio
4- Not being selective enough when registering domains or picking up drops.
5- Bidding too high when drops when into auction against others (thinking they knew something I didn't)

 

[topakins]

Joined NP in 2014. I was reading everything to learn but at one point, I got discouraged and left. I only came back fully last year and I've made 2 sales.

 

[iAdam]

investing more funds on domains than in Bitcoin.

 

[nithya78]

Thinking that 800 dollars were quite high for a 3C domain

 

[johnn]

I once listed a LLL .com on eBay without reserve.

You should ask your wife before listing.

 

[umarmaj]

My biggest mistake was not getting in early, I founded web hosting / domain business back in 2007 but i didn't register the domains which were easily available back then. I should have registered more domains back then.

 

[BrandBoogie]

Buying premium Xyz domains at premium prices without realizing I'd have to pay those premium prices every renewal. I ended having to drop a lot of them. Lost a lot of money.

 

[Joe drake]

Even though I have great domains I have thousands of them ,this is a blessing and a curse, when times are rough and you can not sell a thing ,you dont drop anything because there still great domains ,if I had to do it all over again I would rather buy 50 great domains for 5k each then thousands in auctions or hand reg,because weather there valued at 100 bucks or 1 million there still 10 bucks a year 50 x10 500 bucks to renew or 5000 times 10, 50k to renew no brainer but where all mostly domain addicts here. ''stay lean and mean''

 

[Joe drake]

In retrospect, my biggest mistake was getting into domain investing.

your right on this is ok now but I would give up all these domains and the money to get half the time wasted if I would have put it all in the s and p it would be worth millions keep it small and enjoy your family[cats and the cradle ]

 

[Ariff BD]

I was fortunate by not making many mistakes to regret, Thanks god
Two mistake I did I guess
- registering one xyz with premium reg fee & renewal fee which i later had to drop. Lost 1500$
-not selling many xyz when I had during the peak time, hope they will sell eventually
-registering many web3 domain like .c .tx and dropping them

 

[andrewwilliams54323]

Even though I have great domains I have thousands of them ,this is a blessing and a curse, when times are rough and you can not sell a thing ,you dont drop anything because there still great domains ,if I had to do it all over again I would rather buy 50 great domains for 5k each then thousands in auctions or hand reg,because weather there valued at 100 bucks or 1 million there still 10 bucks a year 50 x10 500 bucks to renew or 5000 times 10, 50k to renew no brainer but where all mostly domain addicts here. ''stay lean and mean''

Thanks for sharing your mistakes

 

[andrewwilliams54323]

I was fortunate by not making many mistakes to regret, Thanks god
Two mistake I did I guess
- registering one xyz with premium reg fee & renewal fee which i later had to drop. Lost 1500$
-not selling many xyz when I had during the peak time, hope they will sell eventually
-registering many web3 domain like .c .tx and dropping them

Thanks for sharing your mistakes

 

[Alop]

Prolly buying domains I couldn't renew just like your membership