domainsoup
Established Member
- Impact
- 97
Been in the domain game for a while now.
People are sold the idea that getting the right domain can make them a lot of money. This idea is largely false as the majority of good domains have already been registered. People get lucky very rarely with a handregistration. The success stories are told over and over. But for each one there are hundreds of thousands of ones that go nowhere.
OK now on to how else to get a good domain. Drops and expired auctions. Entire industries have been setup for this. But guess who makes the most money on this? The companies that sell peoples expired domains after collecting renewal fees (double dipping). The auctions are either inflated or not representative of the actual price. There have been many times I've purchased at auction at domain with like 200 bids and sold for 800+. Then you list it on Sedo. And you get people offering maximum $100 paid. Most times these people cancel the negotiations even if you price it at 1000. So 20 bidders bid a domain up to 800 at auction. And the most you are offered is 1/8th of it? Companies like Godaddy are making a killing. I don't know if they are shill bidding but someone is willing to pay 790 at auction. But no one is willing to pay more after?
Domaining is largely a pyramid scheme. Why? Because the people that make the money have largely all been decided. There will always be success stories. But the majority of people who enter it fail. The big companies make all the money. And they sucker the average joe into believing a dream that doesn't exist.
It's like a lottery. The guy with the winning numbers is happy. But everyone else loses. Yet people get hope because of the story of the guy who won.
People are sold the idea that getting the right domain can make them a lot of money. This idea is largely false as the majority of good domains have already been registered. People get lucky very rarely with a handregistration. The success stories are told over and over. But for each one there are hundreds of thousands of ones that go nowhere.
OK now on to how else to get a good domain. Drops and expired auctions. Entire industries have been setup for this. But guess who makes the most money on this? The companies that sell peoples expired domains after collecting renewal fees (double dipping). The auctions are either inflated or not representative of the actual price. There have been many times I've purchased at auction at domain with like 200 bids and sold for 800+. Then you list it on Sedo. And you get people offering maximum $100 paid. Most times these people cancel the negotiations even if you price it at 1000. So 20 bidders bid a domain up to 800 at auction. And the most you are offered is 1/8th of it? Companies like Godaddy are making a killing. I don't know if they are shill bidding but someone is willing to pay 790 at auction. But no one is willing to pay more after?
Domaining is largely a pyramid scheme. Why? Because the people that make the money have largely all been decided. There will always be success stories. But the majority of people who enter it fail. The big companies make all the money. And they sucker the average joe into believing a dream that doesn't exist.
It's like a lottery. The guy with the winning numbers is happy. But everyone else loses. Yet people get hope because of the story of the guy who won.
.Only hand-reg and drop catch are not the parts of domain name business.In short, reselling, holding, flipping, bargaining are some the attractions in this industry.
