Domain name Buying and Selling

[best-url]

Domain Selling, Can You Cash In?

by Mark Whysall | Apr 24, 2012

It seems as if everything to do with the Internet has changed several times since its early days. It is important to understand that one aspect of the Internet that has continued to be important is the domain name that a website is able to use. As a result, buying and selling those domain names is still a very lucrative business, as long as the right names are chosen. If you buy domains and resell them as developed websites or just domain investments, then you know that picking a good name is a mixture of psychic activity and good ole’ business sense. For some it takes years to develop a good eye for a profitable name and for others it just takes a huge bankroll and a domain name spending spree.

An excellent example of that would be the experiences of Mr. Mike Mann, of Delaware. He has spent years buying up domain names as they become available and reselling them as needed. This 45 year old internet mogul has not invested in some of the more catchy and obvious names, but instead has chosen unique names that are likely to attract people.

Obviously, it wouldn’t make much sense to buy up domain names willy nilly and expect to make a profit. Instead, there is an enormous amount of research that goes into the various types of keywords; disregarding names that would cause any obvious trademark conflicts and researching the existing traffic for similar websites. All of that information comes together to make it simpler to choose domain names that are easy to resell quickly.

Is There Some Secret? Nope, Just Treat it Like a Business

As with most things that offer the ability to get rich quick, there are a few tricks to keep in mind. Buying a large amount of domains at one time can be an expensive and risky endeavor for anyone who is not familiar with the concepts. It would not make sense for anyone to expect to have the results that Mr. Mann has without extensive research and effort. It takes more than a desire for success; it takes a lot of hard work.

Recently, Mr. Mann spent approximately 100,000 dollars over two days on domain names and he expects to make a profit from each of those names. There are a variety of different names included in that bundle, but none of them are incredibly obvious or scintillating names.

Domain buying and selling has an enormous potential for income for anyone who is willing to put the time and work into it that is necessary. If this seems like something you would like to get involved with, then you have to have a lot of patience, and foresight. Domain name selling is sometimes compared to being a stocks trader, but more realistically, it’s more like running a retail operation. Your product has a buyer out there, but if you don’t do the marketing and don’t make that product as enticing and affordable as it can be, then there are plenty of other stores out there to buy from.

Something That Anyone Can Do

The nice aspect of the business is that anyone can do it. You can start with your own idea or even someone else’s idea, if they got the domain name first. Did you just have an amazing idea about a website that features acai berries or maybe want a clever web presence for your shoelace business? Starting out with a brand new domain name might be a little more difficult to get rolling, so there’s always the option of starting with an auction. The benefit of auctioned domains is that they will probably have some age to them and a lot of the research footwork was already done by the seller. That’s not to say that every domain name out there is a good buy, so perform due diligence before making hasty purchases. One place to start with auctions is Sedo. They are probably one of the better auction houses for domains.

So in answer to the question, is there money to be made in domain selling, yes. The chances are slim to none that you will get 80 mil for a domain, but if you apply sound business ethics and practices even as a hobbyist, it is possible to make a decent living with domains.

IDNs.pro