advice Just a little vent on myself being impatient with domaining

[Myles R.]

I recently sold Colleague GPT/com for $100, but I have been mad at myself since I sold it as I could have sold it for a lot more (Probably could have sold it for around few thousand or less).

At one point I was done with domaining as nothing was selling, so I had a liquidation mindset and set all of my domains to the minimum amount allowed by Dan.com ($100).

Now the domain's being resold. Naturally, I'm quite annoyed with this, but it's life and it's just how business works. Nice job on the reseller for getting a good deal.
Wouldn't be surprised if I saw a post in the future saying that it sold for a few thousand.

But yeah I have learnt something from this, don't be impatient.

I have since increased my prices back to it's usual ones and will keep it like this.

Just thought this would also be good for people like me who are starting out in this industry and exploring it.

 

[jlabudda]

Nothing wrong with liquidating once in a while. Portfolios cost money to maintain and people who resell for crazy amounts probably have connections or just know where to sell to an extent that a beginner wouldn't.

 

[BaileyUK]

Don't sweat on it,

If it wasn't a life changing amount, try to keep it in that perspective. I once threw away a £67,000 ($80,000) winning lottery ticket. It didn't help that the local paper kept giving a weekly count down on the claim time remaining. I had used the same numbers for a few months. but one week I thought I hadn't done the combination. Tore-up the ticket the week before when it didn't win. only to find The original ticket was a two-week entry purchase, hadn't done a multi-week entry before. It was a six line ticket paid on card
It was my Brother Ian, that used those words "Well it was hardly a life changing amount" and he was right. At the time I probably would have pissed it up the wall or killed myself in an over powerful sports car. I laugh now . So as I say just keep it in perspective of life in general

 

[A1EX]

Yeah the domain is being resold, but will anyone buy it? Maybe you would have kept it for another 5-10 years and still no interest... who knows... that's the thing... it's all a guessing game. I had 2 names on namepros this year listed for $5-$10 wholesale, no interest... within the next month or so after taking them down they sold for $2500 each, now on the other side I have names that I paid big money for, thought I would make a quick flip, and they just sit there... Do it for the fun of it... the hunt.... and if you make some money on the way, awesome! Don't spend too much money and it wont be so bad!

 

[Yoga Trillion]

 

[karmaco]

Impatience is one of the main reasons many people quit domaining. Never bin at the minimum. Always make your bin more than you would accept even when wholesaling.

 

[Myles R.]

Thank you all for your feedback/advice, on the bright side this was my first ever domain sale and I pocketed £68 after the 15% commission and the $85 being converted to pounds. Still a good ROI either way even if I sold it for lower than it's worth.

 

[jlabudda]

That's really good if that's your first sale

 

[Domainace]

Over the past couple of years I dropped loads of domains. Many of the them are now being listed for sale by somebody else, and I am sure a few will sell for 4 figures. The thing is, it's hard to know which one for that level of domain names.

Look at it this way. If none of the domains you drop or sell at a clearance price go on to sell for more, it means you are a garbage domainer. When you buy a domain from another domainer for cheap, you are hoping to make a profit, I assume. Doesn't mean the other person made a bad decision. People have to clear inventory if they want to stay profitable.

Wins and losses are part of the game. The only thing that matters is that you make money when you total it all up. Nobody built any business without making sometimes expensive decisions along the way.

 

[Leopard]

You can get another 10-15 domains for that $100. May be couple of them will get much higher price

 

[marijuanadomain]

"sold Colleague GPT/com for $100"

don't worry, that domain is worth less than $100 and you got a profit from selling.
You are lucky it got sold!!

it is all about perspective false perception.

 

[NickB]

On the positive side - you now have your proof of concept sale......