Suggestions ?

[drawusadotcom]

I want to buy 2 or 3 thousand names, then flip them in an auction. I appraised one through GoDaddy, which cost me $15 for an express appraisal. They said their best price for registering bulk quantities of names was $7.29 . Any suggestions on a better price for appraising, registering, or ideas on what I want to do ? Thanks

 

[Michelle]

Welcome to Namepros.

First I would never pay for an appraisal when you can get one for free here

Why do you wish to buy thousands?

If you are buying I would ask yourself why you wish to buy and do much more research into names before you do ..

No offence meant but unless you research - if you just blind buy to re-sell, you may lose alot of $.

 

[mobihead]

The cost/hassle of selling domains is fairly high so unless you can make a fair profit on each one it is probably not a great idea. Many appraisals are on the high side based upon an interested end user buying - a reseller buying would pay maybe 10 to 20% of an end user rate. You also have to wait 60 days before you can flip them - Maybe best to test the market, you could try to register one or two first - get them appraised in forums, look for potential end users and see how it goes.

BTW - Registering 2000 domains could be a quick ticket to losing a load of cash

 

[Kate]

I want to buy 2 or 3 thousand names, then flip them in an auction. I appraised one through GoDaddy, which cost me $15 for an express appraisal. They said their best price for registering bulk quantities of names was $7.29 . Any suggestions on a better price for appraising, registering, or ideas on what I want to do ? Thanks

The paid appraisals are a waste of money, except maybe in certain circumstances like assessment for tax purposes.
If you are a newcomer to domaining, you will very likely make mistakes in the beginning (poor registrations).
I would assume that the domain was not even worth the appraisal price. If you want to be successful at flipping you need to understand what makes a domain valuable. It usually is not too hard to tell a bad name from a good name. But it takes a lot of experience, market knowledge and gut feeling.
If domaining was that easy we would all be retired millionaires.

 

[biznews]

If you don't know what your domains are worth, get out of domaining in a hurry.

 

[johname]

I want to buy 2 or 3 thousand names, then flip them in an auction.

Start off with 2 or 3 instead

 

[malcarada]

I also think that if you are going to invest seriously in domaining you must know what your domain names are worth, ie appraise them yourself.

Otherwise you will just be buying domain names like someone who buys a lottery ticket and crosses fingers.

Starting out with 5 domain names is a good way to learn.

 

[nielsencl]

You're getting good advice. First off, the wholesale cost for a domain is about $6. It's very hard to find someone to sell them lower than $7. At $7.29 you are getting a good price, unless they are .infos...!

I assume your time is worth something, so you need to realize what it's going to take to work with and manage that many domains. A lot of time. I only have 1,200 and I can't keep them all current like I want to.

So how are you going to find 2-3 thousand domains that someone will want to buy, but has not. You are going to register domains that are not registered? If they are .coms it is not likely you will sell them unless it's on ebay for $0.99 each.

Even so you have to set up all the auctions, or are you going to sell all the domains at one big auction?

Then you will have to push all the domains to the buyer or buyers, and that could take weeks.

Unless you already have all this planned out and you know how it will work, I would say do a test with 5-10 or 100 domains, but not anything more than that. If your system works, then repeat it on a larger scale.

I think most of us here have lost a certain amount of money when we got into this business. Do learn what we learned and pay even more than we did, unless you have the money to burn. If you do, then go for it!

 

[drawusadotcom]

I appreciate all of the feedback. First, the appraisal came back between $200 - $300 for the first name I want. Secondly, all of the names that I buy will have a prefix that everyone is familiar with. When I buy my first name with this prefix, I will expose my idea, and everybody will jump on the bandwagon, and buy every popular name with a similar prefix. I am considering seeking investors to buy several thousand names, sit on them for 60 days, then start selling them. Since I am new to this, I have no idea what I am doing, but I do know that I have a real opportunity to make a significant return on a relatively small investment. And, I realize I could not make a dime also. What is the fee to transfer a name ? How can I do what I want to do ? Who has taken an idea like mine, and sold a ton of names ? I want to talk to people who have done this. I guess I can protect myself by getting anyone I discuss this idea with to sign a non-disclosure agreement. I am open to suggestions.

 

[johname]

No one is going to sign a non-disclosure agreement unless your paying them good money for their advice.

But you do need help, perhaps a local webmaster that you can talk to in person.

 

[Kate]

First, the appraisal came back between $200 - $300 for the first name I want.

Feel free to post them in the appraisals section and let's see if peer review agrees with those figures

Secondly, all of the names that I buy will have a prefix that everyone is familiar with. When I buy my first name with this prefix, I will expose my idea, and everybody will jump on the bandwagon, and buy every popular name with a similar prefix.

Looks like we are talking about 'brandable' domains.
One question you should ask yourself, if a domain is that great, how come it is still available ? Most likely you are the only one that sees beauty in it.

I am considering seeking investors to buy several thousand names, sit on them for 60 days, then start selling them. Since I am new to this, I have no idea what I am doing, but I do know that I have a real opportunity to make a significant return on a relatively small investment.

You need a sound investment plan to convince investors. You also need to come up with a model that will generate a healthy cash flow.
Most domainers are not making significant money at all... it's more of a hobby. Cash flow is killing them. Too much money in renewal fees and not enough sales. Simple math: 100 domains = $800/year in renewal fees, you must sell for at least $800 before you turn a profit. Easier said than done. There are tremendous opportunities in domaining but it's a tough game. It must be treated like a serious occupation or investment.

Who has taken an idea like mine, and sold a ton of names ? I want to talk to people who have done this.

Many people have tried and failed. People discover and drop out of domaining every day.

PS: don't follow this famous example:
http://img203.imageshack.us/img203/6738/24hr.gif

Source: The Domain Game: How People Get Rich ... - Google Books

 

[nielsencl]

sdsinc: Wow, great information that may apply perfectly here.

No one is going to sign a non-disclosure agreement unless your paying them good money for their advice.

I wasn't going to offer, but now I have to. It would be nice to get paid or have some consideration, but that's not the only reason to help someone or provide advice/feedback/opinion.

 

[Corey]

careful of Trademarks

take onboard the advise given...but it looks like money is burning a hole in your pocket
if your idea doesnt work...what is your Plan B?

Cheers
Corey

 

[johname]

I wasn't going to offer, but now I have to. It would be nice to get paid or have some consideration, but that's not the only reason to help someone or provide advice/feedback/opinion.

You might have taking my statement as me personal asking for it, nooooo lol

I didn't mean that as a challenge either.

I seen these types of situations where the op would select one or two people in the forum to ask on word of trust only conditions in a pm. But my feeling is this particular op would want something hard in writing in his hand first from a known person, so i suggested finding someone local he can meet in person. But it would be abnormal for a business person to enter into a legal contract for pennys or nothing. Just preparing him for that fact.

 

[nielsencl]

No problem, but it is common for someone to sign an ND when they are going to be shown informtion that they could then then and use themselves for business use. Getting advice without a ND is taking a big risk and he shows he knows something of business to ask for one, in my opinion.

 

[notlikeyou]

Please don't take the comments as rude/offensive, everyone around here is just attempting to save you a few bucks and/or possible legal issues.

Secondly, all of the names that I buy will have a prefix that everyone is familiar with.

Sounds like it's a very popular term, if it's related to a product or service it's probably a trademark

When I buy my first name with this prefix, I will expose my idea, and everybody will jump on the bandwagon, and buy every popular name with a similar prefix.

How would anyone know?

I am considering seeking investors to buy several thousand names, sit on them for 60 days, then start selling them.

Who are these buyers you speak of?

Since I am new to this, I have no idea what I am doing, but I do know that I have a real opportunity to make a significant return on a relatively small investment.

You admittedly have no idea what you are doing yet have come up with a revolutionary idea that requires purchasing several thousand domains?

How can I do what I want to do ?
Who has taken an idea like mine, and sold a ton of names ?
I want to talk to people who have done this.

No one is sure what you are actually talking about doing, aside from spending 20-25K registering domains with the same prefix.

I guess I can protect myself by getting anyone I discuss this idea with to sign a non-disclosure agreement.

Others have covered this already.

Again I'm not trying to be rude but "Do Your Homework First" We all at one time or another get excited about an idea that "no one has ever thought of" or a notion that will "change the game" But with a little research, an attempt at a business plan and some advice, come to realize that what was "revolutionary" today was just the Flowbee of yesterday.

best of luck and if I can answer a question don't hesitate to ask

 

[DU]

No problem, but it is common for someone to sign an ND when they are going to be shown informtion that they could then then and use themselves for business use. Getting advice without a ND is taking a big risk and he shows he knows something of business to ask for one, in my opinion.

He already had one appraised by GoDaddy for $15 unless I read it wrong... the cat's out the bag

 

[johname]

He already had one appraised by GoDaddy for $15 unless I read it wrong... the cat's out the bag

it cost $15 for the appraisal, not that the result was $15. The appraisal result was for $200 - $300

 

[DU]

it cost $15 for the appraisal, not that the result was $15. The appraisal result was for $200 - $300

Bad grammar on my part. I meant that he spent $15 for the appraisal. I'm just thinking that if it was awesome then they would know the awesome prefix... but then the express evaluation is automated so I'm wrong again anyway.

 

[johname]

lol yeah the secret prefix is at least in a godaddy file somewhere, now i get where your going with this lol repped