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How to Buy Domain Names and Sell Them for Profit
By admin | August 5, 2008
Domain names are hot. Recently, Harmony.com was put up for sale. The asking price? $5 million! Ouch!
What would a site on making money with virtual real estate be without talking about buying and selling domain names.
After all that’s where your virtual real estate begins, right? Before you have an actual site, you need a domain name.
And a lot of people like the idea of never going further with the development of their site if they can just turn around and sell their domain name for a profit.
It’s the ultimate in flipping virtual real estate. But can it really be an ongoing source of income?
On the one hand, more and more people are coming online every day and fewer and fewer premium domain names are available.
What do I mean by premium domain names? First, they have to be a dot com.
While other domain extensions are gaining acceptance, dot come is still top dog.
Second, they need to be short and memorable. Amazon.com. Business.com. Money.com. You get the point.
There aren’t even any four character domain names left.
These factors obviously will drive prices up on quality domain names.
The factor that can suppress domain name values is the lure of easy money.
A lot of people are flooding the market nowadays, trying to flip domain names for profit.
They grab a bunch of domain names, list them on ebay for 99 cents and hope they turn a profit.
Why is that a problem that keeps the price of domain names down?
Because it’s the easiest route to flipping domain names so it’s the one most people will do.
Ebay has been flooded with domain names for sale, practically making it a buyer’s market instead of a seller’s market.
The idea of buying a domain name, listing it on Ebay and making a profit appeals to a lot of people.
It’s easy, quick and (in theory) lots of potential for making money.
Now think about this.
Something like less than 2% of the people that purchase an info product (even one’s costing four figures and more) EVER take ANY action!
Which leads me to believe that only a small percentage that do take action ever go the extra mile.
What does that mean to you? OPPORTUNITY!
Very few people who bought an info product on buying and selling domain names for profit will follow through and attempt to actually sell domains on ebay.
And how many of them do you think will try to do anything else?
Most will give up if they don’t quickly turn a profit. They won’t look at any other avenues. They won’t think outside the box.
There are plenty of other places to sell domain names. It may just take a little effort (that dreaded word in the internet marketing world).
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Newspaper classifieds (maybe you set up a site that sells all your domains at set prices [or get an auction script])
- Develop the domains into sites and flip them (selling them in all the alternative spots you’ve found to sell domain names, as well as taking the time and making the effort to find private buyers).
Of course, these are just a few options.
The point is, just because you didn’t get the results you wanted or expected on Ebay doesn’t mean there isn’t opportunity awaiting you.
You just have to go out and grab it by the neck and give it a good shake.
There are always different ways to approach an opportunity.
Most people, if they take action at all, will go the easiest route and never do anything else. The more you do, the less competition you will have.
I’ll leave you on a lighter note. A friend of mine directed me to this. Enjoy! Bad Domain Names
Topics: Monetization |
August 9th, 2008 at 6:32 am
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