discuss Do you believe reported domain sales are legit?

[garptrader]

While there are requirements to submit a private domain sale for inclusion on DNJ, I do have to admit at times one has to wonder what buyers were thinking when they paid $XXXX or more for a domain I wouldn't even backorder. I'm just curious if others feel the same way.

 

[Kate]

I think that in some instances it must be money laundering

I am not surprised to see that people pay big money for domains, then let them rot. Often people lose motivation and their projects just stop moving along.
I am guilty of that too.

Funny story: I once sold a domain for 3K, it expired the very next year and I caught it back at NJ auctions. I will probably sell it again one day... in the meantime it had not been developed at all apparently.

 

[garptrader]

When it comes to investing in stocks, investors rely on audited financial reports which provide substantial information about the company's business, leadership, and financial statements. Auditors do sample testing and review to provide reasonable assurance the financials fairly represent business performance.

I believe many domain investors look to reported domain sales as an indicator that investing in domain names is easy money. Review the reported sales for any week and ask yourself how much would you have paid for that domain two weeks ago. Oftentimes one has to question the logic of the buyers. Yes, it only takes one buyer but if $XXXX sales are so common, why is there so much resistance to paying for a domain when you reach out to targeted end users?

 

[Vinod R]

There may be a fewer instances when a sale that is reported may be not right, but I don't believe all of them are like that.
Each name is unique "beauty lies in the eyes of the beholder" and this is so true in the domain name space. A funny name which I didn't like at all was sold for XXXX$ , that does not make the buyer stupid, he loved the name and that is all it's about, You may have different opinions, the names that you liked will not be liked by me and vice versa.
As far as end users resistance are concerned, in my view I have not done outbound marketing much, it would be the lack of education in the domain name system, many business people are technically backward, so when you say that you would sell something that raises a red flag. They do not understand why would they need a domain name by paying XXXX$ for it.

 

[artstar]

As Kate said I'm certain domains now are the perfect vehicle for money laundering.

Its a brilliant method actually when u think about it!