.com My First Domain Sale - L/Hub/com - $14,500

[MitchH]

Purchased on 5/30/18 from a GoDaddy expired auction for $985.
Listed for sale on 6/23/18 with BrandPa.
Received an initial offer price of $12,500 and this was declined. The buyer countered with $14,500 on 8/13/18 and I accepted.
Finalized the transaction today, 9/11/18.

Very happy with BrandPa. Being my first domain sale ever, I did not have the best understanding on the process of selling and transferring a domain. BrandPa helped me step-by-step, no issues at all. High quality content and even better customer service!

I was really surprised how quickly this sold, even more surprised by the 1600% return in only a few months. I was feeling a bit defeated there for awhile, but I feel rejuvenated and hopeful for the future!

 

[Recons.Com]

Wow, that is an incredible sale, especially for your first! Congratulations @Mitchell Hengesbach ! I think you got a superb price for it, and admire your confidence to hold out on the initial offer to get a bit more.

I just checked on NameBio for 4 letter .com that end in hub, and if listed this would become the highest price (of the 10 sales listed). Only 1 of the sales there topped $3000 (here is list).

I am not really into brandables and have not used BrandPa - do they suggest an original asking price? Thanks again for the details, and congrats! Hope you have many more big sales!

I sold a/hub.com for $4.4K after buying it for around $2.2K and 2 months of holding few years back.

 

[MitchH]

How did you determine the BIN was $16,895 USD?

Well, BrandPa originally put a BIN of $7,895. I thought that was too low, so I requested a bump to $16,895. I looked at previous sales with "hub" such as hubx, ghub; sold for $25K and $13k, respectively. $16k seemed liked a fair price based on previous sales. That was pretty much it.

 

[TERADOMAIN]

Congratulations For the sale.

If you remember I told you it was nice Investment.

Me & @Josh R were correct in predicting this was real gem. Hahahah. I think we shared our view when you post the name in “No Hand Reg “ section.

Happy for you.

Great acquisition and great ROI in very short time.

Now look for similar quality name. Do not compromise in quality .

Thanks

 

[golan]

Wow. I think it's a world record for the first sale ever! Such a great sale, and such a bold investment!! Wish you more like this and even bigger!

 

[MitchH]

$985 was a big commitment on an expired auction, but obviously it really paid off. Bravo !

Yes, I was a little nervous about it. I felt confident though because it was a 4 LLLL, but it also had a popular keyword "hub" in it. So I had a feeling it would do ok, but I never thought it would sell for so much so quickly! Very excited!

 

[MitchH]

First of all, congrats Mitchell, you've done well. What nobody is saying is that the buying strategy is wrong. Why do you think that no other experienced domainer has not bidet over $900 for it? Because the ROI expected was not good enough. This time you were lucky but it will not be like this alvays. After paying the bp commission, you've netted just about 10 times your investment. So that means that you need to sale 10% of your names aquired for roughly the same amount and sell them for something the same. The history is showing that something is wrong with this strategy and most of the times you will pay much more than you make, if you count multiple sales and acquisitions. I'm wondering, how you stand regarding your entire portofolio, you are on profit? The only thing is that you had some hand regs in your portofolio, because if you had just aftermarket purchases at this price, you would have been in red big time. Also, the hand regs stuff works for the experienced guys, they have a return of their profit tens-hundreds of times more than the 10 times return that you have made...hopefully you will not choose the wrong way to make high value acquisitions without a good ROI in mind, because you will loose big time.

With all do respect, @boker , could you possibly be more arrogant and short sided with your feedback?

Just because my buying strategy is not the same as your buying strategy or someone else's buying strategy, does not make it "wrong."

If I make $1 more than what I paid for a domain, then I made a ROI. Profit is profit. Domain buying/selling is not my full-time job, it's a side hobby; any amount of money made is great.

I have no idea why you believe I need to sell 10% of my current domains for the same price as I sold L/hub. How are you concluding this? You don't know the size of my portfolio or how much I've spent on domains. If every domain I bought was $985, that might make sense, but I don't come anywhere close to spending that type of money for each domain and I never would. I bought L/hub for that much because it was 20 years old, had only 4 letters, contained a very popular keyword and was not an atypical 4LLLL, and previous domains with the keyword "hub" have sold well. I bought it as a long-term investment, so I was surprised that it sold so quickly. I don't consider this "lucky" either, I do my research.

Yes, I am currently profitable with my portfolio, probably up $8,000. I don't have that many domains. I've been doing this for only 6-7 months. I might buy one domain a week. So no, I'm not "red big time."

I'm not experienced or as knowledgeable as someone who does this full-time. I'm sure there are many people out there that have made and continue to make "tens-hundreds" of times more than what I just made. I think that is fantastic and I wish them continued success. That's not my goal though. I'm not doing this to become super rich, it's just a fun side hobby. As I said before, profit is profit. 2x, 10x or 100x sales, it's all money.

Thanks for the congrats.

 

[NYJimbo]

$985 was a big commitment on an expired auction, but obviously it really paid off. Bravo !

 

[MitchH]

So exactly this is what I've said, if all your buys will have an average acquisition price like this one and roughly the same value, you will loose money on the long run, if you don't sell at least 10% of your names, which will be very hard to achieve. So if it's a genuine opinion, it has to be mal intended. If you did your research, and the average sale price for one letter + hub was around 3k and L/hub didn't had a spectacular number of end users, how your research was great? Why do you think that at least hundreds of other domainers have stopped bidding before 900$? This time the result was great but trying to replicate that on the long run will end up in loosing money. And no, as far as I know, in domaing it's not enough to make 1$ profit or 2-4-7 times the amount which you have invested, because you will not sell most of your portofolio during your life time. I don't really care what you do, but I've noticed that you were saying that you know what you will do from now on and doing the same thing with multiple domains will not end up in green for sure.

I understand what you're trying to say, but you're making a conclusion when you don't have all the information. L/hub was the only domain that I ever bought for $900+, prior to this the most expensive domain I bought was around $50 and most are around $15. You're making an assumption that I pay $900+ for all of my domains, which is not accurate. You should never assume anything.

I doubt that I'll ever replicate this sale, but it's always possible. That's not my goal though. I'm very strategic with how I purchase domains. I have a specific budget and stick to that budget. When I sell a domain, I'll buy another. If I don't sell a domain, I don't buy. That is why I'm profitable.

You're trying to analyze my entire strategy and profitability with this one sale and it's simply not accurate. You don't have the information. You're trying to make a hypothesis without context, perspective or a method. But anyways, I know you're trying to help. I appreciate your attempt to do so.

 

[Bob Hawkes]

Wow, that is an incredible sale, especially for your first! Congratulations @Mitchell Hengesbach ! I think you got a superb price for it, and admire your confidence to hold out on the initial offer to get a bit more.

I just checked on NameBio for 4 letter .com that end in hub, and if listed this would become the highest price (of the 10 sales listed). Only 1 of the sales there topped $3000 (here is list).

I am not really into brandables and have not used BrandPa - do they suggest an original asking price? Thanks again for the details, and congrats! Hope you have many more big sales!

 

[themavrick]

Congrats!!!

That must have been really exciting. Congrats!

 

[MitchH]

Wow Mitchell, you really dove right in to domaining! Congrats on your amazing first sale, and thanks for providing hope for all of us newbies.

Thank you! When I first started, I made plenty of mistakes (and still make plenty of mistakes). I spent a lot of time and money on hand reg domains, which in hindsight were terrible and I will likely not sell them or renew them. I learned a lot by doing research and reading various topics on this website. At the end of the day, you need to spend money to make money. I'm really particular about what I buy now and I never do hand reg domains. It's been quite the journey so far!

 

[MitchH]

Congratulations For the sale.

If you remember I told you it was nice Investment.

Me & @Josh R were correct in predicting this was real gem. Hahahah. I think we shared our view when you post the name in “No Hand Reg “ section.

Happy for you.

Great acquisition and great ROI in very short time.

Now look for similar quality name. Do not compromise in quality .

Thanks

Yes! I do remember your post when I first made the purchase back in May. I appreciate your support!

Quality over quantity is definitely the best way to go. I have been a lot more particular about the domains I purchase. I only go after 10+ year old domains with at least one popular keyword or high traffic. So far this strategy has been paying off!

 

[MitchH]

Congratulations.
At what price was it listed on Brandpa

Brandpa originally wanted to list it at $7,895 (that was before they let users suggest a price). I contacted support and requested that it be increased to $16,895. They accepted this new price and it was listed as such.

 

[saj110]

That is a great sale with an excellent ROI MItchell , especially considering this is your first sale. Congrats ! and keep going strong . Btw ,was this the first offer you received or did you receive offers earlier also since the time you listed on Brandpa ?

 

[domains21]

Congratulations!! That is a beauty of a first sale and a hell of a way to kick off your domaining career.

 

[MitchH]

Congrats on your sale

that was a good pickup for you, at that price.

well done!

imo...

Thank you! It was my first "big" investment in a domain. Feeling really good!

 

[Abdullah Abdullah]

Purchased on 5/30/18 from a GoDaddy expired auction for $985.
Listed for sale on 6/23/18 with BrandPa.
Received an initial offer price of $12,500 and this was declined. The buyer countered with $14,500 on 8/13/18 and I accepted.
Finalized the transaction today, 9/11/18.

Very happy with BrandPa. Being my first domain sale ever, I did not have the best understanding on the process of selling and transferring a domain. BrandPa helped me step-by-step, no issues at all. High quality content and even better customer service!

I was really surprised how quickly this sold, even more surprised by the 1600% return in only a few months. I was feeling a bit defeated there for awhile, but I feel rejuvenated and hopeful for the future!

Congrats buddy, I was expecting you would report a big sale when you mentioned you had one pending. Great to get such a first sale. Wish you and everyone of us more sales like these

 

[AbdulBasit.com]

Purchased on 5/30/18 from a GoDaddy expired auction for $985.
Listed for sale on 6/23/18 with BrandPa.
Received an initial offer price of $12,500 and this was declined. The buyer countered with $14,500 on 8/13/18 and I accepted.
Finalized the transaction today, 9/11/18.

Very happy with BrandPa. Being my first domain sale ever, I did not have the best understanding on the process of selling and transferring a domain. BrandPa helped me step-by-step, no issues at all. High quality content and even better customer service!

I was really surprised how quickly this sold, even more surprised by the 1600% return in only a few months. I was feeling a bit defeated there for awhile, but I feel rejuvenated and hopeful for the future!

Congrats on your first sale and that too a very big one! I'm happy for you
Wish you all the best in future!

 

[NYRE]

Yes, Highest Praise is most definitely in order here!

I've been at this a while (and I'm pretty damn good at it, if I do say so myself ), but I gotta' tell you, I would've twice "folded" before you ...I honestly wouldn't have had the cojones (that's an industry term) to bid up "LHub.com" to $985 (wholesale) in the first place ...AND THEN, hold out for considerably more than $12,500 after that offer came in.

You're good. Real good. And you've got a bright future in this field. What's more, your skill-set is readily transferable to other professions ...like high-stakes professional poker, and consumer space travel, to name a few! ) Rock on!

 

[TERADOMAIN]

Yes! I do remember your post when I first made the purchase back in May. I appreciate your support!

Quality over quantity is definitely the best way to go. I have been a lot more particular about the domains I purchase. I only go after 10+ year old domains with at least one popular keyword or high traffic. So far this strategy has been paying off!

Thanks. I also forget to mention one of my other friend.

@USMC . My good brother . This name was under his watchlist too and he even said it was good acquisition.

Again congratulations to you. I just want to make sure I don’t forget everyone who shared their honest opinion about the name. Hahahah

Now go hunt for another better gem.

Best of luck.

Thanks

 

[karmaco]

What can be said safely is that while this is a great sale and very much to be celebrated this is above the norm in general and even more of a rarity on a brandable venue where most domains are priced around 3K. You picked well and you did well.

Unfortunately these types of sales don’t happen all the time unless someone has an outstanding portfolio. Very wise to spend your profits carefully.

 

[AuctionBio]

Purchased on 5/30/18 from a GoDaddy expired auction for $985.
Listed for sale on 6/23/18 with BrandPa.
Received an initial offer price of $12,500 and this was declined. The buyer countered with $14,500 on 8/13/18 and I accepted.
Finalized the transaction today, 9/11/18.

Very happy with BrandPa. Being my first domain sale ever, I did not have the best understanding on the process of selling and transferring a domain. BrandPa helped me step-by-step, no issues at all. High quality content and even better customer service!

I was really surprised how quickly this sold, even more surprised by the 1600% return in only a few months. I was feeling a bit defeated there for awhile, but I feel rejuvenated and hopeful for the future!

Very happy when I see sales like you had
it is always an awesome read, reading a word by word a success story for same industry where you are in.
Best of luck for all your investments and hope to listen from you another success story.

 

[MitchH]

Congrats. This is your chance to grow so be careful. Spread your acquisitions over time and dont go on shopping sprees. 2000$ shopping budget done twice is 40% of your profits. Be careful with 20-50$ domains that are ''cool''.
If I was to make a plan for my profits Id keep a healthy portfolio on one side where I focus on good 500-1000$ domains that I can either sell for the same amount or make crazy ROI on them. 7500 out of 10.000$.
Then 2500$ for domains up to 100$ to satisfy the monster. Spent over time.
Have it your way.

Thanks for your feedback. For now, I'm not spending anymore money on domains until I sell at least one more. I'm happy with the profit I just made. I have a few domains that I feel confident about, so we'll see what happens, I'm patient

 

[briguy]

Thank you! I do not plan on reinvesting right now. I have a few domains that I feel will sell at some point. So if I'm fortunate to sell anymore, I'll look to buy again.

Are you other domain also short names?
Impressive first sale..think I bought took the family out to McDonalds with the profit of my first sale,,,