Enter the Wide World of Domain Name Sales
- Date: 2007-03-20 - Word Count: 725
Share This!
A little known Internet business that can potentially earn you hundreds of thousands of dollars happens to be something not many people have heard of. This is the business of domain name selling.
The domain name of Diamond.com allegedly sold for $7.5 million. The buyers of Vodka.com disclosed their price at $3 million. Now do not get too excited; domain names that sell for this amount of money are few and far between. It all depends on timing, which next big company wants to buy it, and just how much they are willing to pay for it.
There are a lot of factors you have to consider when deciding whether or not jumping into the huge domain name pool is the best business for you or not. Just like any business, buying and selling domains has its risks as well as its benefits. And you cannot go into the business blind. Many people start up quickly, get overly excited, buy a number of domain names that no one else wants, and find themselves out of the money they spent and now the owners of domain names they do not know what to do with. There are some basic points you need to be aware of when it comes to the domain name business.
1.)Research. Aside from the basics, knowing a lot of specific domain name terms and details will aide you during your early days. "Domainers" is typically the term used for domain buyers and sellers. Traffic means the amount of visitors a domain or website receives and can be type-in, expired, or some other type. Look into domain name appraisal so you can have some idea how much your domains are worth once you obtain them. There are a lot of specifics to acquaint yourself with - and if you do not already know what a domain name is, you may want to find out.
2.)Money. First and foremost, you will need a startup budget in order to buy domain names. Obtaining a domain can be fairly simple or quite a struggle depending upon which domain name you want to buy. You can either create entirely new domains, buy old ones that are no longer in use, or buy domains owned by other people. Each domain will have a price, some higher than others. Knowing what you plan to spend can make a big difference when deciding what domains to buy.
3.)Picking the right names. There are plenty of good domain names out there - and there are also plenty of completely useless ones. Some domain names are generic, that is, they encompass a large buyer base. Diamond.com and Vodka.com are good examples of generic domains. The trick is trying to find the domains that are money-makers. There are a lot of tips you can use when picking your way through the domain name orchard. Prefixes, suffixes, acronyms, typo domains, and niche markets are just a few worth mentioning. Do your research; promptly buying up a domain name of Ladies89482.com will not get you anything. You are going to want to know why.
4.)Know what to do with them. Once you buy domain names, you cannot just sit back and expect things to happen. There are various things you can do with your new domains to get them sold or make yourself some extra cash. You can park your domains with specific sites that will then place ads on the page people see when they visit your domain. If they click these ads, you get money. Many of these domain parking websites also offer selling services. Think in terms of eBay only specifically for domain names and regulated much better. The key items to remember for your domains are that they need to build traffic and Internet presence in order to get more notice from potential buyers.
5.)Reinvest. After you have made a certain percentage of profit (depends upon what you want that percentage to be; everyone's portfolio is different), buy more domain names in order to keep your new business growing and earning you money. Like any business with products, the domain names are your products, so once you run out of them, you will not be making any more money. With the profit you make, you may be able to expand and buy more domains than before. Some people have done domain name selling for so long, websites that offer
The domain name of Diamond.com allegedly sold for $7.5 million. The buyers of Vodka.com disclosed their price at $3 million. Now do not get too excited; domain names that sell for this amount of money are few and far between. It all depends on timing, which next big company wants to buy it, and just how much they are willing to pay for it.
There are a lot of factors you have to consider when deciding whether or not jumping into the huge domain name pool is the best business for you or not. Just like any business, buying and selling domains has its risks as well as its benefits. And you cannot go into the business blind. Many people start up quickly, get overly excited, buy a number of domain names that no one else wants, and find themselves out of the money they spent and now the owners of domain names they do not know what to do with. There are some basic points you need to be aware of when it comes to the domain name business.
1.)Research. Aside from the basics, knowing a lot of specific domain name terms and details will aide you during your early days. "Domainers" is typically the term used for domain buyers and sellers. Traffic means the amount of visitors a domain or website receives and can be type-in, expired, or some other type. Look into domain name appraisal so you can have some idea how much your domains are worth once you obtain them. There are a lot of specifics to acquaint yourself with - and if you do not already know what a domain name is, you may want to find out.
2.)Money. First and foremost, you will need a startup budget in order to buy domain names. Obtaining a domain can be fairly simple or quite a struggle depending upon which domain name you want to buy. You can either create entirely new domains, buy old ones that are no longer in use, or buy domains owned by other people. Each domain will have a price, some higher than others. Knowing what you plan to spend can make a big difference when deciding what domains to buy.
3.)Picking the right names. There are plenty of good domain names out there - and there are also plenty of completely useless ones. Some domain names are generic, that is, they encompass a large buyer base. Diamond.com and Vodka.com are good examples of generic domains. The trick is trying to find the domains that are money-makers. There are a lot of tips you can use when picking your way through the domain name orchard. Prefixes, suffixes, acronyms, typo domains, and niche markets are just a few worth mentioning. Do your research; promptly buying up a domain name of Ladies89482.com will not get you anything. You are going to want to know why.
4.)Know what to do with them. Once you buy domain names, you cannot just sit back and expect things to happen. There are various things you can do with your new domains to get them sold or make yourself some extra cash. You can park your domains with specific sites that will then place ads on the page people see when they visit your domain. If they click these ads, you get money. Many of these domain parking websites also offer selling services. Think in terms of eBay only specifically for domain names and regulated much better. The key items to remember for your domains are that they need to build traffic and Internet presence in order to get more notice from potential buyers.
5.)Reinvest. After you have made a certain percentage of profit (depends upon what you want that percentage to be; everyone's portfolio is different), buy more domain names in order to keep your new business growing and earning you money. Like any business with products, the domain names are your products, so once you run out of them, you will not be making any more money. With the profit you make, you may be able to expand and buy more domains than before. Some people have done domain name selling for so long, websites that offer
Related Tags: home based business, internet business, home based business opportunities, internet business opportunities
Your Article Search Directory : Find in Articles
Recent articles in this category:
- Domain Name Buying -- Five Pointers To Consider Before Purchasing
I would like to discuss 5 main issues with you, that you have possibly questioned before buying your - Allure People With An Appealing Domain Name
Domain names are turning out to be an advantage for thousands of international financiers and big bu - Vital Internet Marketing Strategy In Relation To Buying A Domain Name
In the pursuit of generating traffic to their blog or websites, most online business owners take on - How To Make Money Online - By Blogging - How To Choose Your Site Name
This is simple and cheap, it can be free if you don't mind not being the owner of the URL (website a - Choose Domain Names Wisely
How to choose a domain name? This question arises when you plan to create a new blog or website. It - The Perks Of Playing Online Strategy Games
How do you like to spend your free time? Do you find yourself lying lazily on a cozy sofa or taking - Domain Name Forwarding And Masking Gets Rid The Bad One
Are you just plain fed up with your current domain name? The world of business is full of decision m - Ways Of Domain Name Parking That Earns You A Sweat Free Money
Have you ever heard the term domain name parking? You thought that only cars can be parked? Then you - Secrets Of Premium Domain Name Buying And Selling Exposed
Ever wondered how people pocket money earned from just selling premium domain names? It's unbelievab - What Uk Domain Names Can Do For Protection
Any United Kingdom organisation can get a good domain name set up. In some cases that name can be in
Most viewed articles in this category:
- How to keep Visitors on your Websites?
If your Website is looking very attractive its very good but only looking attractive is not sufficie - How To Choose The Correct Domain Name
So you have decided the time has come for your business to have an internet prescence. Lets face it, - International Domain Names with Internet Explorer 7
IDN stands for Internationalized Domain Name, also known as multilingual domain names. It allows you - Pushing Domain Names
Pushing domain names is a quick, cost-effective way to move domain names around to new owners. The - How To Protect Your Identity When Doing Domain Name Registration
The Internet has brought many advantages; one of these is having your own domain name. With the grea - Choosing A Good Domain Name
One would think that registering a domain is the first step when setting up your website. This is no - Registering Effective Domain Name
If you are thinking about building a website, registering domain name is an important step. Register - Seven frequently asked questions about choosing a domain name
One of the most common questions I'm asked by my clients is "What domain name should I use for - eu Domains - European Domains
European domains is expected to go quickly and anyone interested in such domain names needs to stay - Free Domain Names: What's the Catch?
My high school economics teacher used to say, "There is no such thing as a free lunch". He implied