Buying and Selling domain names is an interesting prospect and for some people, has the effect of conjuring images of winning lottery tickets or treasure seeking expeditions. Tales of domains that were bought for £7 about 12 years ago and are being sold for millions of Pounds today are more common. This often makes a lot of adventurous investors wonder, “How can I achieve that?”
The well is deep and rife with opportunity. But the chances of hitting gold could be low, and you are likely to spend a lot of time going in the wrong direction. Besides, you would need a detailed map to find that elusive bounty.
The following tips can guide you towards the right direction in buying or selling a domain:
Streamline Your Focus
There are lots of domains already bought by someone and unending mixes of available domains for purchase, especially when you think of the hundreds of current domain name extensions like .abc and .flowers. If you want to buy a domain so that you can resell it, then you must streamline your focus.
What could possibly make this easier for you? Do you know about cars, are you into property sales or furniture equipment? Do you know about finance or fashion? Think about some of the spaces you already familiar with and begin there. It is much easier to sell a domain you know would be significant to someone in a specific industry.
Find Names that Offer Genuine Value
Think of the various ways that the domains you purchase will provide great value to the buyer. Imagine someone who would gain from purchasing the domain in a space you are knowledgeable about. If that was you and someone was trying to sell this name to you, would it be useful for you to have? Understanding a niche area and being able to explain how the domain will facilitate their business, should help you pitch confidently to a prospective buyer.
Finding Useful Domains
Now that you have streamlined the domain names you want to buy, how do you find them? First of all, check to discover if the names are available to buy as fresh registrations.
If the names are already taken (as most often are), go to the aftermarket to purchase from the person who owns them or who allowed them to expire because they don’t plan to use them anymore.
A good place to check this is Domains 4 less.
Evaluating the Price
As soon as you have a name in mind, how do you decide if a price is fair? There are a number of comparison sites you could use to compare the domain you are thinking about buying with others that are quite like it, that have been sold. You can put in the keyword and also use advanced features to find a list of names like yours, what they were sold for and when the sales occurred. Similarly, you can research current domain sales online.
Use these tips to guide your preparations before buying or selling. Remember to stick to your area of knowledge because you are at a better advantage.