Located in General Domain Discussion, started by Premiums, Feb 9, 2018
The Thumb Rule is TripleP - PPP
Additional P : PLANNING & PRECAUTION
Sure, there is (relative) activityyy
But I can't ignore the "statistical truth" that the domain marketplaces are mainly filled with domain owners / offerers and rarely filled with domain buyers - at least if you have such expensive domains like I have / offer.
It's primarily the marketplace - owner/s who make/s money through the sum of comissions (I assume that is what you meant), the same affects to drop catching services * - they are also professional service.
The whole situation mirrors the saying "You will rather become rich if you sell shovels than to dig for gold."
* BTW I never use/d a drop catching service - there is (naturally) always a "rest risk" that they will decide to take the desired / dropping domain for themselve to offer it much higher then.
I see this "rest risk" higher than the risk that I won't be able to catch the desired / dropping domain by my own, that's why.
Lets have a vote then :D
@DOMAIN ILLUMINATI yup I meant the marketplaces/services make the money.
What a nice tiny positive thread here - it's inspirational
I bought nearly $10k of domains this week. You have to know what you are doing. Most of you are buying lottery tickets and not digital assets with undeniable value and big potential.
There is plenty of B.S., I have studied it, verified it and still I work 12 hours a day at this. No argument. Nothing worthwhile is easy, and you are investing in educating yourself. If you instead watch television and have a nagging girlfriend or wife and kids and not much free time, this isn’t easy as its time consuming. It might be impossible even. This is more like studying to get a college degree, you need to focus and tune out all people and distractions. You will sacrifice things short term for the long term goal.
My first sale was what boot strapped my investment and got me going.
I am used to B.S. though, I have been self employed forever and every industry has it. Some are much worse than this, like the latest - cryptocurrency, greater fool sales tactics, ICO crap scams etc.
It takes awhile to figure out who is dishing it out the sales B.S., and who isn’t. what I began to realize is you really need to be careful in reading all these sales data reports as they are unaudited. Just because somebody posts they sold a name for X dollars, does not mean it was true. The Wholesale end of this business has some who pump up values. Certain well known people in various media, have been identified as questionable ethics, there are plenty of people you need to ignore.
I have had many offers on my few but more more high end names, but they are usually whois contacts from wholesale buyers. I answer them all, but these are usually other domainers who use gmail addresses and or disguised emails with the poor mouth offers, and they get annoying.
There are a couple bloggers outside this forum who post good info and you should follow, the rest you should ignore. Namebio data is not 100% accurate, but it is a great free resource good for ball parking sales prices. Get into understanding general business market vertical segments, find ones that arent saturated (thats difficult) read online trends in techcrunch and tech publications, read google trends and do keyword searches. Don’t follow the crowd. Learn RSS and gather data on newsfeeds in areas you discover on one website. You can learn by investing your 12 hrs a day too, like I have. If you have attention seeking and time draining people around you and only 2 hours a week, forget it. This is like an investment of your time as you would learn any trade or skill, you have to concentrate and put in the work.
Finally, forget wholesale auction selling business, and flipping to other domainers and instead seek end users. There are guys I imagine who will allow you to broker their names and all you need to lose or gamble is your time. No reg fees, no investment in names.
This is much more complicated and actually more interesting if you can write and if you develop domains too, which is what I have been doing.
Anyway, this was said above- domaining isn’t for everyone.
It's very normal to fail for a newbie who can afford to register and renew only 10 domains. Some "expert" domainers say they make sale consistently but they don't disclose how many domains they hold. If you have 10,000 domains, it's normal to receive offers and make sales everyday. Also you can easily understand the patterns after buying 10,000 domains. The main problem is how big player you are. Knowing your industry well, working hard, being patient play a small role compared to how many domains you have to offer to potential buyers.
All of these assets with undeniable value and big potential require a monstrous effort and Big Bucks spent on develipment by the end user.
Generally, but many impulse/ vanity purchases happen as well
Any company that sells a bad product will fail sooner or later. Same applies to domain names.
If you are trying to sell unsellable products (domains) who's to blame? You or the industry.
playing domain basically same like buying lottery tickets! you never know when you'll get jackpot! and of course you can buy short or 3L domain! but still! you'll never know, whether the price will be up or not!
same like forex! we use analysis! but still it doesn't guarantee, you'll make profit or not! though, if you use forex to hedge! then its another story!
but if you just buy and sell! I don't think you will survive in this industry!
just like me! sometime I buy EMD domain, and do hand reg! but I never thought, that I can make millions just from domain! I only buy when someone ask me! they buy my product, and then I buy domain! i.e related biz! so it's okay for me for doing domaining! but it's not okay for ppl that want to be rich, just from domain!
personally I don't agree with your statement! there is a money in domain industry! its just on the other side!
Great thread with lots of good information. If nothing else the last year should've opened many new domainer's eyes to the fact most new TLDs are worthless. My advice to even have a chance at success is to stick to .coms. My off time today I emailed 15 thriving companies that sell a product with the exact generic term of one of my domains. Might hear back from 1 or 2?
This is really the key to finding success in this biz.
It takes great patience and a good deal of strategy including learning from past mistakes.
That's no BS.
There's more money in this industry than bullshit, but I concede there is a lot of bullshit.
I could make way more in a bigger industry, but I'd have to work harder. I also can't complain about profiting half a milli a year:
Don't find the money.. Let the money find you...
That would be an interesting poll Garp, first we have to decide the top 2% so people know what they are voting on. It's like how many full time domainers are there in the world, so many people have different figures. But if we excluded the top x amount of people would the rest of the industry be profitable? Interesting question.
Agreed, a poll would rock, the industry only relies on domainer to domainer sells to keep inventory moving and trends flowing through out the industry, aside from that, it doesn’t matter IMO
I am not a reseller, never have been, it is irreverent to me what is moving and what is trending within the domain industry itself, all about the end user with me, domain names and my websites.
But to establish the health of the industry itself, A poll would tell a lot
Good suggestion EQ
Separate names with a comma.