Most people want to skip to the “how do I sell it” part without first mastering the “find a decent domain” part.
Until you get a handle on that, you won't make any money no matter where or how you sell it. Garbage names don't sell often.
Developing names is a whole other business, but still comes down to having the knowledge, time and resources to monetize a website.
People see big domain sales and think they can spend $10 and make a million if only someone told them the right way to sell it. This is not a get-rich-quick business.
Domaining is a long learning curve of investment-experimentation-measurement-refinement before one gets to success. There are lots of domainers with consistent sales that still lose money because they don't know their numbers.
Sales minus commission minus acquisition cost minus renewals = profit/loss
Very valuable and priceless information and tips you've shared.You maximize value by Not trying to sell it. You hold it until someone with very deep pockets needs it and you extract maximum price from them by starting very high.
Maximum value is almost never achieved by outbound marketing, auctions, etc.
It is kind of a pointless exercise. The market is too mature and sophisticated to let multi-million dollar domains slip through the cracks.
Spend your time looking at the domains that sold for 1-5k and figure out how to find those for under $50 each. You have a shot with that model, but you still have to buy and hold for the right buyer.
There isn't an “easy button” or “this one simple trick” solution in domains. Sorry
I get your point. But I am talking about that part where you have found something which is markatable, selleable and of much value.
How do you capitalize that gain in terms of cash.
Let's say cars.com dropped and you took it for 10 bucks. How do you capitalize that gain?
this is what i doOne of my core businesses is digital media, paired with private equity and micro acquisitions.
Even tho I am not a domainer pro or any sorts, I have a few thousand domain names
amongst them, 587 domains are actual blogs/content driven websites. and increasing that number YoY.
My approach of 'finding a domain name' is if i see it fit for myself to actually use it and deploy a blog on it and if it fits one of my verticals/ sub verticals.
This eliminates for me the randomness of buying domains A B C and X Y Z based on hopium. So my decisions are more informed.
To give you a better example:
Some key categories I am active in are travel, education, pregnancy:
I am active in the following GEO's: US/International, UK, Belgium, NL, Taiwan, South Korea, Philippines, in all their respective languages (ENG, Trad Chinese, Korean/Hangul, Ph Eng etc )
i bought for example the domain name child. ph , aimed for education and children in the Philippines.
I parked that domain for a million dollars. Ridiculous yes, and most likely nobody will buy that for this price.
but it's not my intention to actually sell it. I might as well park it for a ridiculous price in case some nutjob or deep pocket buyer comes along and offers me a substantial amount.
I buy domains with the idea of deploying them but instead of shelving them, I need to break even on CPC/CPM and renewal rates etc per year.
Chances are in a year or two I will ask my copywriting team and media team to start building the website for this domain.