discuss Time to give up domaining

[doofer]

Time to give up with domaining once and for all. Having had my domains listed here on NP, GD, eBay, promoting them on social media, direct marketing, I've struggled to barely sell any. Despite even reducing the prices to what I consider to be giving some of them away, still nothing. See others selling what appear to be bizzare even worthless names for $XXX or $XXXX, not that I begrudge anyone that, I guess domaining is just not for me !

 

[Silentptnr]

Looking at your domains, you probably should.

MSTER.CO.UK
LA-CALIFORNIA.COM
FREQUENTFLYA.COM
FREQUENTFLYA.NET
FREQUENTFLYA.CO.UK
USEDCARSONLINE.CO.UK
SKYFLYA.COM
SKYFLYA.NET
SKYFLYA.CO.UK
EFLYA.COM
EFLYA.NET
EFLYA.CO.UK
CAREHOMECOVER.CO.UK
DISCOUNTPRINTERINK.CO.UK
PERSONALPA.COM virtual assistant
iCLOUDDOWNLOAD.COM
iCLOUDDOWNLOADS.COM
POSTUPNOTES.COM
H7B.CO.UK
H7B.UK
RECLAIMFEES.COM
CLOUDITDATA.COM
FUELSAVECARD.COM
FAREPRICEFINDER.COM
SELLINGMYOWNDWELLING.CO.UK
CABSRANKED.COM
FUNDITISE.COM
PHONEFOOTAGE.CO.UK
LINKEDUPLONDON.CO.UK
PREMIUMPAWN.CO.UK
PREMIUMPAWNBROKER.CO.UK
FUNDIFY.CO.UK
QWIKQUOTEINSURANCE.CO.UK
QUICKQUOTEINSURANCE.CO.UK
MEGABORDELL.DE

Domain investing takes alot of skill. Starts with good names (these are not) and develops into managing a portfolio and much, much more. Then, with solid names, proper exposure, and fair pricing, sales occur.

You didn't stand a chance with these domains. Look at what sells.

Whatever direction you decide to go, do your homework first....thoroughly. No one becomes a doctor, lawyer, or stock trader overnight.

 

[Haris]

I had the same feeling back then, but instead of saying "Time to give up domaining", I said "Time to buy better". It is the easiest and the most profitable business in this world. Buy better mate.

 

[imadoer]

I felt this way a few years back when I first started I didn't make any sales for six months I was ready to quit and one morning I open up my email and there was an offer there. I couldn't believe it. Once I did that deal I did more with the same buyer. Then I started networking and meeting new people and learned a little from each person and molded it all into my domain game. Times are slow right now. But if you haven't made any sales you might need to change your strategy and the way you choose your domains. Network learn from others but becareful you don't follow bad advice. Don't be a quitter. Be a Doer! LOL

 

[tonecas]

1. one or two years of domaining is nothing. it's mostly educating time, one way or the other.

2. most success stories and meteoric rises of the last 4 years were made in a full bull market that has crossed many businesses. this means when the tide turns we will see many people naked, and many certainties about the market be turned upside down.

3. domaining is like every other business. it needs time, research, planning, hard work, discipline and making mistakes. luck is very important also. forget the easy money stories. they are just lures and outliers.

4. you need to learn what sells, what can be worth in the future and what can be just hype.

4.a. for that matter, you need to learn how to ride an idiotic trend that is made up by collective delusion, but be aware that you are playing a game and it will end. that is, you should know that it has no long term future but be willing to join the masses and take part of the money on the table while it lasts.

4.b. most of your money should be spent on good domains, that you will be able to identify after point 3. I can give you an example of good segment: short domains. But really short, not the nonsense of 5 letters or more or 5,6 and more digits domains. stick to 2 characters and 3 letters on .com. This is sound investment because human behavior will always be attracted to uniqueness and scarcity, specially when a bull and optimistic market sets up. you need "just" to be careful and understand that everything will go out of fashion in a bear market and money doesn't grow out of trees. So you should not being paying high values even on good and solid domains *today*.

5. most of this business is building a good portfolio and waiting, for several years. flipping is not for everyone, and should be done only as a side tactic to make some money to fund better inventory or pay some bills. most of the flipping opportunities result from point 4.a.

6. trim your portfolio. playing the high numbers game is just for a few. you need to really know what you are doing, have a very good and streamlined process with well controlled expenses. Most of the people that succeeds in this model where people that have been around since "the early days" where they could build big portfolios with good available domains or with a good global average value. the few others where "just" really smart or had some good monetary backing to start it.

7. understand that the buying part is the most important one. it is better to buy low than to buy high, and it is better to buy one good domain than several mediocre domains for the same total amount. this is very obvious and looks like a stupid thing to say but the fact is most are not aware of how important this is and how this is tied to the success of most investment decisions you make. you cannot buy a 2 letter .com domain today for $1k. but you should not also pay $500k today for one. the deal is to buy at a value where you can have some margin to coupe with market fluctuations. how do you do that? by being around in the business for some time, by point 3, and developing a good insight into what is a good value proposition given the current status of the market and the foreseeable future (for what it can be humanly grasped).

finally, giving up is not the solution in anything. at least not before revising what went wrong and what can be done better and then try again.

 

[Silentptnr]

In a world of crappy investments with low returns, domain investing can be a perfect match for some. I never viewed it as a job I could just quit. It's investing.

I'm either making money or losing money. I prefer making it.

Me personally, I don't really care about domains that don't sell because I know the risks are high especially with hand registrations that have no age. If I see no traffic and no inquiries, I have no problem dropping them or selling them for super cheap.

If I have a portfolio of say 1000 domains, many of which are aging, I mostly just try to be sure to sell enough to cover my renewals each year. Usually, with a few sales from $500 - $5000, I make it happen pretty easily.

I keep all my investing fun. I know investments are riskier than just putting money in a bank, but I like to risk to a certain extent.

I keep in mind that even the top domain investors drop names, and just try to be profitable each year. Of course, we are all looking for the knock out.

Don't give up, just work harder to find a balance so you don't end up broke and on the street. Unless you own a major marketplace, bringing in income like a salary is going to be very hard.

Maybe it's time to read, study, and get a better understanding of what you want from domain investing.

 

[johname]

Always have a few backup domains. Domains that you have an interest in them beyond flipping. Domains that you might actually do something with like development or a business interest.

 

[Willox Perez]

As many have stated already, domaining requires you to put in hours and hours to learn how to value a domain and how to purchase assets instead of liabilities. When it comes to anything in life there is a learning curve, this is something you have to accept and understand.

Many successful people always say take a step back, take time off, regroup your ideas BUT never, never, never ever give up.

Based on the domains you acquired I will suggest you take a step back and really do your homework and study. Go to Namebio and pay attention to what sells then analyze these names and find out what similarities or factors they have in common in order to understand why the domain sold. Read up the different helpful threads here at NamePros and educate yourself.

This will help you work on your skills and improve your chances of having success in this business. Remember you make your profit on the buy, meaning pay attention to where similar domains are selling and establish a floor. Buying below the floor increases your chances of selling the domain at a profit and limiting your risk.

- Will

 

[wwwweb]

Go spend a week reading through Ricksblog.com. Go back and read the last 5 years. Some people like him some don't. Does not matter read the content on each page and take action. Good luck

Good advice, but domains that are 1/8 of that caliber take a big capital investment these days. The dynamics have changed, instead of having a .co .net or a .org, first time sub 500 buyers have 1000 other extensions to choose. The high end buyer wants the cream of the crop, and many end up paying for it, but with scripts, and bots automating aftermarket deals, it is very hard to get a decent price without throwing out a whole bunch of money, and hoping it comes back one day.

Nobody said domaining is easy, actually starting from scratch today it is extremely hard with the number of people chasing the same drops, good inventory can be hard to accumulate without knowing, a few ins, and outs, and have confidence to hold. You also need lots of capital to acquire, and renew. WIth Huge Names catching anything decent that drops, you basically have to spend $69 to acquire single bets, that may, or maynot pay off. 10 names is like $700, without any guarantee of a sale, even if you sell one for $500-$1000 with a 20% commission you are just breaking even.

Not everyone is cut out for this, if you are buying english speaking domains, and english is not your first language, maybe not a good idea.

The industry will keep supporting, and putting figures out there because they need people to buy the crap, park the crap, attend the conferences etc... sell the dream, just like any other industry.

If it's not working, maybe time to try something else.

 

[1Darko]

I'm now in my second year and I probably will never give up. The first year I was deeply in the red. It's a learning process with ups and downs. After my first year I have dropped over 50 names. A lot of my drops where picked up by Huge Domains and one by Mike Mann. Now I'm in the second year and I'm slightly in the black with a smaller but better portfolio than before. Everybody has to find his own "recipe" to success. Of course it helps if you have fun. Sometimes trying to hard is not helpful at all. Here on namepros forum you can find great people from all around the world and they (we) are mostly all very friendly. Enjoy the trip because thats mainly the point of domaining. If you reach to the end the fun is over.
Good luck and success to all namepros!

 

[Findom]

I'm a total beginner and no position to give advice, but I'm sure that, in domaining as well as any other area of life, success is no accident. It's simple as that: do what they do to get what they get. Don't get me wrong though, those people have accumulated the required knowledge through extensive reading and trial and error along years. Luck may justify one sale or even multiple sales. But it can't explain years after years of continued success and prosperity. Therefore, there must be something wrong or lacking at your strategy. As soon as you realize what's wrong, what's the cause of your stagnation and then fix it, sales will begin to roll in. Good luck!

 

[Kpett]

I think there are many new domainers in the last couple of years who have read about the big sales and might think this is an easy way to make money. Many do not understand or won't take the time to learn all of the details needed to be successful, or have the patience required to let the domain sales happen. Look, we all have "quality domains," some more than others.

I've found that here on NP that many who post in the Requests forum are looking for deals - not necessarily willing to pay a decent price for domains (for the most part). So responses to these requests many times are not answered as they are probably flooded with PMs, or else just simply don't care to respond.

Good luck.

 

[Smiles76]

Truth is, 1% of domainers probably own 99% of the domains people actually want to buy while the remaining 99% of domainers are fighting to sell to the 1%

 

[DonDraper]

Quitting is easier than hustling even because apparently domaining looks like gambling.

1 - Dig into NP like you never did until you cannot NOT register that name...not the contrary

2 - Until you got 2+ years of experience you are not allowed to say "I like this name"

3 - You have to fall in love with "Names", if you are just a money follower you wont achieve any success

4 - Be creative, try to imagine the future. Its too easy to put money where the value is clear. Try to identify patterns that people/domainers dont see yet but market already is whispering.


My 0,02 cents...

 

[Haris]

What type of domains would qualify as better

Domains that make sense. Domains with potential buyers, by potential buyers I mean businesses that will really benefit from the domain.

Why do businesses buy domains? Domains are used by businesses to boost their online presence. So we need to buy domains that are beneficial for existing businesses or will be needed by new businesses. 2 word .com domains are the best but not all 2 word .com domains are good. Check sales at NameBio, google the keywords and see if their are similar domains developed. Keep learning and you'll soon understand what type of domains qualify as better.

 

[BaileyUK]

It is hard to 'pin it down' but, you really do need some relative background in either sales, technology, marketing, investments or better still all four (I'm sure there's more), then make sure you add trademark law to your portfolio. one thing I've done since day one in 1999 and thousands of domains later is keep all my domain lists - I look back at some of the early ones and think who the f**k is this guy. and yet the most important info I've never kept is the financial reports. So you can guess where my skills were clearly lacking..

if you've not made any sales - then at least for you it shouldn't be hard to put the addiction down. I'd like to call it similar to Gambling but I've rarely if ever placed a bet or even bought a lottery ticket.

if you went into any investment area you would either study it first or have an overwhelming background knowledge - unfortunately domaining encompasses a sense of pride, satisfaction and ownership all in a matter of seconds at what appears at first to be a negligible cost.

OH NO it isn't

 

[Name Trader]

I'm not giving up. This year has been a tough one for me. What I am doing is reducing my portfolio (my renewals). by at least half in 1 year. Getting rid of all (well most) of the dross. Try it. It's tough. Some good stuff might get washed out with the bathwater. But you/(I) cannot make 100% good decisions with every single domain. You just try your best. I rarely buy any domains in the aftermarket (any market) any longer because I cannot justify the prices (in most cases). At least compared to what I'm getting offered for my better domains. I'm expecting by halving my portfolio my quality/price will increase at least double, and costs will half. Which might or might not happen. I'm already asking higher prices from all inquiries. This has helped noticeably. Less sales though If I can keep making sales from my domain stock I'll be fine. I'm purchasing a new property which is restricting my further investment in domains. And it's been a good time to re-evaluate my portfolio, and as I said, get rid of the dross. Dross for me=any domain I don't think I can sell for more than $1k. Wishing everyone a happy and prosperous New Year, and future in Domaining.

NB: investing $8+ in renewing domains I think I can sell for $1k+ seems like a better strategy than investing in renewing domains which I wonder if I will ever sell them for $2-300. Of course volumes play a part in the equation. And I'm taking that into account. As best I can. Given the uncertainty of the data.

 

[richface]

Sad to Hear OP, There are two things you definitely need in domaining one is Good Names and the other is LUCK. I have great names that receive inquiries every month and don't sell and then my really rubbish domains well in my mind those domains sell like hot cakes very strange. In addition I know of big UK companies holding super premium domain names and have held them since 1996 over 20 years with no significant sale yes no significant sale on ANY Super premium names or reasonable offers so is a strange Industry I even joked once to a CEO that perhaps they need a premium domain museum to keep those there! . I would not quit if i was you, try and sell what you have get a full time Job if you can and re start your investment in liquid names and slowly on a partime basis then branch into keywords but even buying good names are not a sure thing the highly premium names are the hardest to sell. To my fellow domainers try not to kick a fella when he is clearly already down and has opened up we all make mistakes at the start lets try and give some encouragement and constructive advise! My opinion only. Take Care OP.

 

[Donnyd]

Go spend a week reading through Ricksblog.com. Go back and read the last 5 years. Some people like him some don't. Does not matter read the content on each page and take action. Good luck

 

[Omar Negron]

I had the same feeling back then, but instead of saying "Time to give up domaining", I said "Time to buy better".

Good stuff right there. Instead of calling it quits, don't do it until you examine your strategy and what you've been doing that isn't working. Tweak some things, model what works for others.

Leaving a venture isn't always bad but just make sure you did all you could on your end to make your business successful.

-Omar

 

[Pierre Barnard]

The more I practice, the luckier I get...famous quote

 

[WhoaDomain.com]

They are already posted. I copied from the ops sales thread.

lol I know! hehe. you crazy bro! but this is like the boys locker room. all in good fun. sometimes you just gotta laugh at yourself for your own mistakes. relieves stress. hope doofer don't take it personal! lol

ehhhh still alive I always say.

opps! did it again!

 

[Kuffy]

I think that as long as you stick to picking up usable names, and you don't overpay for them, then it's all down to pricing, exposure, and waiting.

 

[dordomai]

It seems like a few domainers are quitting, urlu is selling his portfolio of good names on flippa and looking to give up domaining, even Michael cyger has stopped his weekly videos, the whole Chinese investments seemed to have slowed down too.
I'm thinking now is the best time to buy names at a good price, as it seems a lot of people have maybe moved there investments into crypto

the best time to buy is when others are selling

 

[1Darko]

You need to step back and look at the reasons for your lack of response. Many will disagree with me, but I think that the fancy extensions are best ignored. "casino" must be one of the best keywords, but I bet there are at least 50 TLDs with the single word unregistered. I'm concentrating on .coms now.

The other thing that it's worth doing is to think about the end users for a name. Take "Bitcoin factories" for example. What is a Bitcoin factory? The only thing I can think of is a large mining operation, and they don't need a domain name to operate. You could use it for a discussion about large volume mining, but that would be better on an html page on a general Bitcoin site.

BitcoinFactory is definitely better
I can imagine a movie or book with such title -The Bitcoin Factory Bestseller - 100% moneyback warranty!

 

[The CEO]

I have also understand when Godaddy stop the discount codes the business gets touch especially to the new reg names. During those dayes we can buy domains for 1$ and $2 and place them in action here at Namepros if the name has value to others bids can sometimes end up up to $20 or more, this gives the seller a profitable margin and reg. in bulk and selling them all is a definitely "business wise". but now, buying a hand reg will cost $8 if you have membership and more if non. Godaddy please bring back the discount codes. As I said on my first time on the business, @stub was one of my mentor and he will give you honest advice and like everyone else on the business we slowed down buying "maybe will and maybe not"names and focus on much more easy to sell and have value names.