What did you learn, from your first attempt at selling a domain?

[RockBros]

And if you could do it, all over again, what would you do differently?

 

[Addison]

Offers (and sales) can disappear just as quickly as they appear.

Don't count on a sale until the money is in your bank account.

Never buy a domain name because you think "at least one person will want to buy it."

Buy domains because you think hundreds or thousands of people will want to use it.

 

[RockBros]

Offers (and sales) can disappear just as quickly as they appear.

Don't count on a sale until the money is in your bank account.

Never buy a domain name because you think "at least one person will want to buy it."

Buy domains because you think hundreds or thousands of people will want to use it.

Thanks!
Seems like, some lessons learned and sound advice!

 

[Grayclouds]

To buy quality domains

 

[.X.]

Start off slowly, not get caught up in domainer domain name fads, take my mentors advise literally.

 

[NickB]

for absolute newbies.....make sure you know how the selling process works where you have your names listed!!

My first sale was through Sedo, didn't have a clue how it worked and luckily Sedo helped a lot and it was fairly smooth

My second deal was a joke and took ages via Godaddy because I did not read through their procedures and was unsure on what I needed to do and Godaddy were not helpful - lot of time wasted on the phone and via email

Also don't waste time with the idiots who don't pay - recently happened a few times and I will not be losing any sleep over it. Once the payment deadline passes just let it go and move on!

Lessons learned

 

[Nikhil Jain]

That this really isn't easy money. This is real business. If I could start again, then I would stress more upon "RESEARCH".

 

[Sumeeth]

1) Don't build portfolio too much,,, later it will be difficult to focus on all domains and end up in expiring and not able to choose which domain to renew !
2) Don't be hurry in buying domains as soon as it strikes in your mind! Do good research!
3) Try to take your domain to end users, its up to their interest whether to buy it or not! In this way you are exposing your domains to real end users.
4) Try to price domain reasonable to end user otherwise ends up with lack of sale.

 

[RockBros]

for absolute newbies.....make sure you know how the selling process works where you have your names listed!!

My first sale was through Sedo, didn't have a clue how it worked and luckily Sedo helped a lot and it was fairly smooth

My second deal was a joke and took ages via Godaddy because I did not read through their procedures and was unsure on what I needed to do and Godaddy were not helpful - lot of time wasted on the phone and via email

Also don't waste time with the idiots who don't pay - recently happened a few times and I will not be losing any sleep over it. Once the payment deadline passes just let it go and move on!

Lessons learned

Thanks!
How would you recommend, newbies get to know how the selling process works, either where names are listed and/or through private sales?

As for idiots who don’t pay, I assume payment, typically needs to be received before domain is released, to said idiot...?

 

[mani0307]

Only Build a quality portfolio, if you have more than 500 domains % of sale high.

 

[NickB]

Thanks!
How would you recommend, newbies get to know how the selling process works, either where names are listed and/or through private sales?

As for idiots who don’t pay, I assume payment, typically needs to be received before domain is released, to said idiot...?

I Looked up the terms and conditions for Sedo, Godaddy, Flippa, Undeveloped and Afternic and read through them a few times and when an offer comes in do a little refresh on them

Payment is usually held by the marketplace until the name has changed hands then funds released - similair to an Escrow service.

 

[RockBros]

That this really isn't easy money. This is real business. If I could start again, then I would stress more upon "RESEARCH".

Thanks, both very good points! That said, if you could start again, what would this more stressed upon "RESEARCH" be focused on and entail?

 

[RockBros]

I Looked up the terms and conditions for Sedo, Godaddy, Flippa, Undeveloped and Afternic and read through them a few times and when an offer comes in do a little refresh on them


Payment is usually held by the marketplace until the name has changed hands then funds released - similair to an Escrow service.

Thanks!
How was idiot not paying, if payment is held by the marketplace until the name has changed hands?

 

[NickB]

Thanks!
How was idiot not paying, if payment is held by the marketplace until the name has changed hands?

They have to release the funds in the first place (which they didn't do)

 

[Dogmains]

Buy domains because you think hundreds or thousands of people will want to use it.

THIS.

 

[NYJimbo]

Getting paid can take weeks.

My first was a cheap sale, but it still took 15 days from a "BIN" buy to actually getting paid. People dragging their feet, transfers, money release, etc.

 

[myfavorite]

Celebration of sales starts when the money drop in your bank account or at least when the market place confirm the buyer has paid up.

My supposed first sale ended with buyer going silent when it was time to pay. Didn't respond to all inquiries.

 

[RockBros]

They have to release the funds in the first place (which they didn't do)

Thanks!
Exactly why I asked the questions. To help newbies, learn the process of selling, their domain(s) i.e. Who does what first. Any "Sticky" and/or thread(s), which expand upon the sales process, itself i.e. how and when money & domain(s) change hands, how to ensure secure transfer of funds & ownership, sales through marketplaces & brokers vs. landing pages & private sales, auction selling strategies, etc?

 

[NickB]

Thanks!
exactly why I asked the questions. To help newbies, learn the process of selling, their domain(s) i.e. Who does what first. Any "Sticky" and/or thread(s), which expand upon the sales process, itself i.e. how and when money & domain(s) change hands, how to ensure secure transfer of funds & ownership, sales through marketplaces & brokers vs. landing pages & private sales, auction selling strategies, etc?

Your right, there is so much to learn and for me that's what makes it a very interesting industry

The head scratching was directed at non payers - not you

 

[RockBros]

Your right, there is so much to learn and for me that's what makes it a very interesting industry

The head scratching was directed at non payers - not you

Very interesting industry, indeed!

Didn’t think it was directed at me.

 

[RockBros]

Getting paid can take weeks.

My first was a cheap sale, but it still took 15 days from a "BIN" buy to actually getting paid. People dragging their feet, transfers, money release, etc.

Thanks!
How would you feel, about sharing the domain and step by step details how sale was initiated, as well as how & when during sales process was it delayed and finally completed?

“BIN” stands for Buy It Now, correct? So, was this sale through an auction listing? If yes, how would you feel about sharing your auction strategy ie asking price, reserve or not, length of auction, etc?

 

[polymorph]

What did you learn, from your first attempt at selling a domain?

That no matter how you present it, a low quality domain is a low quality domain.

Paying for a special listing won't sell a bad domain.
Designing a professional logo won't sell a bad domain.
Dropping your bad domains will save you time and money.

 

[RockBros]

...Payment is usually held by the marketplace until the name has changed hands then funds released - similair to an Escrow service.

They have to release the funds in the first place (which they didn't do)

Hey there...
So, I take it, this was a market place auction listing sale NOT a landing page sale...?

If auction, how would you feel about sharing your auction strategy ie asking price, reserve or not, length of auction, etc?

And since idiot didn’t release funds, in the first place, then the name never changed hands, correct?

 

[RockBros]

That no matter how you present it, a low quality domain is a low quality domain.

Paying for a special listing won't sell a bad domain.
Designing a professional logo won't sell a bad domain.
Dropping your bad domains will save you time and money.

Thanks!
Begs the question, what is a bad and/or low quality domain, to you?

 

[eined]

That a good keyword will sell in ANY extension. (My first 'real' sell was a .team!)