I want to share one of my recent sells with you as it got me excited again about domaining. I recently sold one of my domains that I bought for under $100 and sold for mid $x,xxx (five figures). Yes, that’s at least 5000% .
I keep asking myself, in what other product business can you make so big of a profit, in such a short time by reselling it. I bought the domain only a few months ago. And no, I didn’t build a website, I didn’t even park it, it just had an empty blank page.
I can’t find any other product that would even come close to that margin.
Some would say this is a rare case, but I don’t think that way. There are great domains being dropped every day, and yes you do have to pay backordering fee to get the better ones but still they’re cheap.
Of course, you have to do your homework, don’t just go out and buy junk, you will lose money if you do that. You have to think like a business and do your research, read blogs and understand quality of a domain.
In this particular case, it was a location based domain, while I can’t share the domain name with you, I can tell you that I didn’t buy it to resell. It was something that I wanted to build out; it was kind of a brandable domain.
I got the offer from GoDaddy’s domain acquiring system and after a few counters offers, the deal was done. Yes, having patience does go a long way when trying to get more for your domains.
What I figured was that since they’re using GoDaddy’s service, instead of contacting me directly, they’re trying to hide their identity and only larger companies tend to do that. Therefore, they should be able to afford to pay more.
Could I have gotten more? Maybe, but I didn’t want to get greedy. It was a great margin and I decided to let it go.
So don’t lose your hope, there is certainly lots of money to be made in domaining.