It's all made up

Discussion in 'General Domain Discussion' started by maven, Mar 17, 2017.

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  1. maven

    maven Established Member

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    Full disclosure: I'm just a kid and I've found out what a domainer is less than a year ago.

    That being said I went from “this is kind of stupid” to “maybe I should learn more” to “this guys are genius” to “I should get into this before is to late” to “that's an exception” to “that's another exception” to “that's actually the rule” to “this is so stupid”.

    I've analyzed close to two hundred portfolios and the majority of names are not worth register. I see the word end-user a lot, but the truth is that the majority of domainers are the end-user for the majority of their names. Just because you don't know how to use it doesn't mean that you are not the end user, if you don't let it drop nobody will come after you.

    Even the very pillars of this industry have hundreds, and in some cases, tens of thousands of worthless domains. You can literally register something for 10 bucks and put a 10k tag on it.

    I mean, for God's sake, casualcasualties.com was registered last year and you can grab it today for just 94888 usd. You snooze, you lose.

    The guy with the pigeons keeps renewing incomeproducingproperty.tv every year like clockwork, since … wait for it … 2011. That's obviously a money maker, but I'm to young to understand.

    And there are thousands of examples … if the name has no logic, no meaning, no inherited value then is even better because it's a brandable. That means that you buy it for a premium and is up to you to build the value. If you can't do it, is your fault, the name had the potential to be big (and now you ruined it, buy another one). If you can brand airbnb I think is safe to say that you can brand anything. Your chances will undoubtedly increase if you buy the brand (basically a five dollar logo), not just the name, from a brand marketplace. There is one that sits on a inventory of between 4.5 and 22.5 mil. USD in artwork alone. No, is not BS … is BB.

    So yeah … it's not all made up, but 99.9% is!
     
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  2. Pierre Barnard

    Pierre Barnard Active Member VIP

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  3. 1Darko

    1Darko Established Member

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    Great opinion! But please don't forget that even trash has some value. :)
     
  4. moe

    moe Established Member

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  5. hxp

    hxp SuperDuperUltraRarePremiumHolographic Member VIP

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    Pretty much. :)
     
  6. Allaina

    Allaina New Member

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  7. Shuttlepro

    Shuttlepro Supportive Member NamePros Supporter

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  8. HotKey

    HotKey Genuine★Domains VIP

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    Hi - you've picked up on some good stuff in the industry, particularly
    Most of us don't have the luxury of having a small portfolio filled with 1 word dotcoms from the early days to make profits from. Holding names of trends, niches or brandables are more common, increasing your spread thus your likelihood of a sale. But as you have noticed for the most part it is domainers not endusers keeping the investing and resale cycle alive.
    I've often believed the only excuse for consistantly registering or renewing a blatantly obvious bad name comes down to two reasons:
    1) The registrant thinks it's funny, and really doesn't give a crap what others think, and can afford it.
    2) Just as any other business, people that are really bad at it continue to do it because they honestly have no clue that they are really bad at it.

    With brandables, it's a different monster. Here you have words that aren't even real, but they evoke a certain je ne ce quoi or connection. I think you have to pretty word savvy to be successful in this field, and we have some guys that are here on NP. Brandables have been popular for a number of years now because endusers are finding that they don't want to be tied down to a generic dictionary word defining their business. There are exceptions, such as the recent sale of Hive.com, where a dictionary word can even be a brandable because of a perfect fit to it's MO, yet still sparks excitement.
     
  9. Al Cohol

    Al Cohol Established Member

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    Not so much made up as it is greatly exaggerated.
     
  10. Cdomains

    Cdomains Active Member VIP

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    The sad truth is domain investing is a losing game for 99% of people who try it.

    This is something nobody really talks about.

    It is an open secret in domaining.

    Identifying a good name is an art learned from much experience, usually only gained after time and constant work, thought and research in this field.

    There is no shortcut.

    Sadly, most domainers are part timers who will never reach this level of understanding before going bankrupt.

    All of us must lose money in the beginning, to make money later on.

    This is a rite of passage for most domainers, even those who are at the top of the domaining world now.

    Unfortunately most will never learn, so most will lose at this game, and wisely give up.

    Some will never learn and continue to lose money year after year, telling themselves a big sale is just around the corner, even though they hold a portfolio of worthless domains.

    For a young person you are very, very smart to figure this out for yourself, early on, before losing a lot of money.

    This is very rare for a newbie domainer.

    Hats off to you my young friend!! (y)

    Most realize this after it is too late and they lose their shirt.

    Considering your young age and obvious intellect, it is my prediction you will go far in this field, and avoid the mistakes most new domainers make.

    Keep it up, and good luck to you @maven.

    We all hope to see great things from you in the future, and welcome to NP. :xf.smile:

    Please keep us updated on your progress.
     
  11. frank-germany

    frank-germany Business Member Business Account VIP

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    exactly right

    just because you don't understand it
    it doesn't mean it doesn't exist

    there are other languages then english
    and other purposes then webpages
     
  12. frank-germany

    frank-germany Business Member Business Account VIP

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    I always wonder who came up with this myth?
    How in the world could you possibly prove that number???

    99% of my sales have never been reported anywhere
    so how come you know that for sure?
     
  13. carob

    carob Active Member VIP

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    It's gambling. The house always wins.

    Professional gamblers can win, others just lose money and enjoy it or else hope for a big jackpot.
     
  14. Cdomains

    Cdomains Active Member VIP

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    It was just my way of saying "most"

    Maybe I should have said "most" instead of putting a number on it.

    Thanks for pointing that out. (y)
     
  15. UmerK

    UmerK Established Member

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    Great post, as a fellow newbie i share more or less same thoughts as you but there's money to be made in this industry and there's huge potential for us to do that, it will take time for sure but i can see it being worth it. As newbies best we can do is, be realistic, don't put all eggs in one basket and choose people to look up to carefully. Best of luck and cheers for a great post!
     
  16. UniflexDomains

    UniflexDomains Established Member

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    The harsh truth with domaining is that if your not making a profit you don't know what your doing. I honestly believe that anyone could make a profit from this industry. Not a living but a profit. Too many jump in head first without learning first and too many waste thousands on rubbish then get bitter. Like anything else in life, what you get out depends on what your willing to put in.
     
  17. MapleDots

    MapleDots Established Member

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    Pick a specialty and stay to it.... that is my advice.

    Your post has a few good points but you are overlooking one basic fact.

    You see what does not sell but you do not see what does. Some domainers are happy with 5k sales and they add up fairly fast. The small sales are the bread and butter for most domainers. Those sales go unreported and fall under the radar. I can make one sale for 5k and support 500 domains on that profit. So from the 500 annually any other sale is profit.

    I do agree, the choice of some people is questionable but a few hits and you are in a profit scenario. Of course it helps to be focused on a single target.... I am known as the Maple Man in Canada, if you want the national symbol in your domain name you come to me. That is called building a brand.

    So yes, you are completely correct.... however, you only see the domainers that don't know their craft. Look at huge domains.... thousands of soso domains at around 2k each but they are hugely profitable.

    That said.... I enjoyed reading your post, I'm glad you saw the light before spending serious cash.
     
    Last edited: Mar 17, 2017
  18. DomainVP

    DomainVP Domain Expert Business Account VIP

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    A must read for all newbies!

    If you are not making a profit then get out while you can before you lose your shirt!

    Not everyone can cook in the kitchen ;)
     
  19. SuperDudePro

    SuperDudePro Established Member

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    I think that there is truth in all of what you said.

    A couple of points to add. The reason that there are so many willing to let noobies make stupid mistakes, and profit on them, is because people like profits more than people. There are, of course, lots of domainers who will warn you in advance, but not enough people call out the shill bidders, intentional deceivers, and the beyond redemption delusionals. Somehow it's considered more rude to call someone on bullsh*t than to actually be the bullsh*t. BUT, as someone pointed out in a recent post Discernment is the key. If you have it, all of the noise is comical, if you don't then it is a path to the poorhouse.

    Second, in spite of the noise about you not understanding brandables well enough, you have as good a grasp of the reality as most here. All of the double letter misspellings and other crap that are led along in order to create huge databases of worthless names. Yes, there are great brandables. BB did a huge disservice to their business model when they started letting in almost every crap domain in existence. Now they've cut back, but it's going to take a long time for all of those domainers to recognize that their names could sit on BB for a century and no one will want the stupid name. Again, I know that there are brandables that sell. That isn't the point. The real point is that the OP is correct in pointing out the absurdity of the crap art from BB being 'worth' $$millions collectively, just sitting there.

    I think that you are actually ready for the next phase if you choose to stick with it. You've seen behind the veil, which not too many people ever do in this industry. Either way, thanks for the post, it's nice to see a well-written wake up call.
     
  20. comati

    comati Established Member

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    unfortunately, that's true

    lol, good one

    again truer words have never been spoken :)

    where did you found that info?

    old saying "some people trash is other people treasure"

    i for one wish that I had fewer and better names ... actually i'm working on it as we speak

    can I interest you in something like FinanzielleIntelligenz.com or SmarteImplantate.com or maybe, Spielautomaten-spielen.com (coz the hyphen is not a deal breaker for DE)? :p

    they get a lot of expired names, just visited some of the recent ones and you are spot on 1995 usd a piece.
    i've noticed that they say pool.com was sold recently for 5K and my heart skipped a beat ... i guess it's a typo and they are referring to pool.com.au sale
     
  21. E-Promote

    E-Promote Established Member ★★★★★★★★★★

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    Keep on going and stay focused, judging from your post you have a good chance of success in this .
     
  22. Lysted

    Lysted Lysted.com Domains Buy - Sell - Connect - Manage Business Account

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    Any industry exists because there are buyer and there are sellers - nature of the commodity is what makes this 'domain industry' unique. It comes to the million$ (literally) question - what is the the real value of the domain. How can a domain possibly be registered at $10 sell for thousands or more in few weeks time. It does happen, not to mention there is lot of hype though. This 'commodity' is like no other, a few years of registration fees adds up to price exponentially or it can be be just sitting there with no inquires. But one sale can possibly cover for about 100/200 domains that are just sitting there.

    One has to really understand, be in weeds, and have first hand experience to understand this industry. If you tell a layman about domain industry, they will be 'awed' by hearing the success stories and more likely to jump in just because it really does not cost much to get in. Of course people do not hear 100s of stories about domainers losing money and quietly exiting out. Technically, you hear stories only from those who stay in industry and survive. Most of general public would not even believe or know that domains can be (re)sold. If you personally stay away from domains for extended period of time and come back, all the domains will look same and will not mean anything more than some English letters rearranged.

    So the message for new comers is that, try to test the water first before buying 50 or 100's of names. Try to get some (domain) marketing experience (you have nothing to lose as you can carry that experience somewhere else as well). In a year or so, if you just breaking even, that is still ok as it is the norm with other businesses - they are not successful in first 2/3 years. "But" the number of inquires/leads should give you idea about how good your names are. If you think that by registering names by replacing few letters/vowels or similar sounding names, you can also sell a name, you are grossly mistaken. Most domainers consider 2-3% to be a successful rate. So you have to be right only couple of times out of 100s of times.

    How to register those 'couple' of names? If you cannot make other people think on the same line as you did (when you registered the names), then probably that was not the right approach. Talking of hand registered names and that is where this is most profitable for your business to just stay 'afloat', your success depends on whether you there to register a name "before" lot of other people thought of the name and found it registered.

    Best.
     
  23. 1Darko

    1Darko Established Member

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    This is so true and beautiful written. If you like it, print it, frame it and put it on the wall ! At times when you not sure - read it! Thanks!
     
  24. shayan

    shayan Established Member

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    Allow me to take this a step back and say that, at the end of the day, we (humans) are the end-users for everything :). Whatever you see around you is built by end-users, for end-users. When you see new projects being developed, they are by end-users for end-users. Whatever you want to relate this to, at the end of the day, whatever happens, we are the ones that develop, consume, and recycle. Your statement here, is therefore, true, but also goes beyond just domains :)
     
  25. Kate

    Kate Thinking inside the Box™ VIP ★★★★★★★★★★

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    I've been saying that domainers are actually domain collectors but many don't realize it. For domainers to be their own end users, they must own domains worth developing to begin with. Too many names are garbage and unusable and they have no future.
    Domainers must also be in the mood for developing their domains, but often they have no use for them.

    Domaining can be profitable but it's not lottery. Because you get a chance to pick your ticket. The only thing you need to pick the right ticket is discernment (hi @Bannen) and adequate funding. Investing is not the same as gambling.

    People expecting big payouts for no work will be disappointed with domaining. If you want to make money, you have to be dedicated and treat it like a real business. But the vast majority of domainers are hobbyists. I'm not exagerating, see for yourself how many (few) are incorporated, how many have a CPA, how many pay taxes on domain sales, how many even keep accounts...

    It's pretty normal that the majority of domainers are losing money. It's a specialized trade, not everybody can do it. Not without dedication, patience, a sound business plan and the willingness to learn.
     

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