Learn Buy & Sell Domain names, earn smart money!
A domain name for a website is something you can purchase for just Rs starting from 250 to 1000 but if someone buys from you, it may be hundreds and thousands. Just imagine few days before Tesla Motors Elon Musk twitted that they acquired domain name tesla.com for 11$ Million!
The seller might fly high and on world tour with his family in a business class flight. And why not he? He may got 11$ Million against just few dollars. As per whois record the domain name tesla.com was registered on 4th November 1992 and sold in recent past, that means the domain owner hold it for 26 years so he might spend 22*10$, totalling 220$ and he received huge…very huge amount.
Similarly, there are some other most expansive domain name sales here as under:
Recently, we also heard that a domain name cars.com sold on 872$ million dollar! May be it’s an amount which isn’t digest by me or you, but it’s fact and people are crazy for a right domain name.
Well, what you have to do to buy a domain name and later you will sell it on your price?
First of all you need a basic knowledge of buying and selling domain names, what kind of domains are in high demand, what other people are buying and above all, you have to predict the future, that means you have to imagine that what product or services would have a good demand in future and then you have to buy or register a domain name of that string. Just read here step by step guide to buy and sell domain names.
- Buy Your Domains
The first step is to, of course, find domain names to purchase or hand register it from any domain registrar like Godaddy or Name.com
The buying part is easy, but understanding what you should buy is where it gets tricky.
Simply, some domains do better than others, so you minimize your loss risk by doing this.
Here are some of the domain types to consider buying for a well-rounded domain portfolio:
- Location-based names. These domain names refer to a country, city, town, etc.
- Business names. These can be either expired domain names of a business, or you can target up-and-coming business and brand names of those who haven’t started their websites yet.
- Generic names. These domain names focus on products or services, but you should be very careful in purchasing them. It’s possible that you could land yourself in legal trouble if you purchase a domain name that includes a copyrighted name.
- Time-based names. A timely domain name is one that relates to a particular event, date, or timeframe.
You have two main choices when it comes to purchasing domain names.
You can focus on trending topics, businesses, services, products, etc. and purchase domains that relate to those.
In other words, you’ll look for domain names that could potentially be very desirable in the near future.
Alternatively, you can purchase expired or current domain names that already have a good amount of traffic, profitability, etc.
These will cost more to purchase, but you also could sell it for a larger profit to the right buyer.
Expired domain names, especially, are ones you may be able to score for cheap prices.
No matter what, though, it’s in your best interest to purchase some domains of different types so that you can have a diverse portfolio and find what works best for you.
Where to Look for Domain Names
Now you know what to look for, but where do you find these domain names to purchase?
There are actually quite a few places, but some are better than others in providing the cheapest domain names that can give you the best profit.
One of the first places you should always look is with domain name registrars.
These are places like GoDaddy that offer you a domain registration service.
Often, they double as web hosting companies.
You can find domains through places like SiteGround, HostGator, Dreamhost, Bluehost, and other top hosting companies.
- Sell Your Domains with profit
Now comes the fun part: selling your domains for a profit!
Where to Sell Domain Names
Just like finding a place to buy domains, you won’t have a problem finding a place to sell them.
There are a lot of domain marketplaces on the internet, but some are a lot more active than others.
These are good ones to target because they have a lot of traffic and people searching for the perfect domain:
- GoDaddy Auctions
- Brand Bucket
How to Sell Domain Names
You can choose to sell your domain for a fixed price or on an auction.
Determining what one you should use for each domain will be the tricky part, but that expertise will come in time.
If you have a good idea of what a domain might sell for and you don’t have to sell it quickly, setting your price and leaving it on a marketplace is a good idea.
Some marketplaces will let you and buyers make offers and counteroffers with each other after you set your price.
For example, if you set a price of $100, but someone offers you $50, you can counter their offer with $75 or another price you’re comfortable with. Or, refuse the offer altogether.
It’s good to have some wiggle room and get something out of your domain, especially if it’s been sitting on a marketplace for months with no bites.
But, if you want a domain to sell quickly and you think it might be something that people will pay a hefty price tag for, you might want to consider an auction.
This is also a good option if you really have no idea how much your domain will go for and want to see just how high it’ll sell for.
You might be surprised how high your listing gets!
Of course, this method could be risky, and you may end up getting less than you paid for it.
What Risks are Involved with Domain Flipping?
As with almost any type of flipping business, domain flipping isn’t without its risks.
You always run the risk of losing money instead of profiting.
It’s much like those who buy houses to flip, spend a lot of money making the houses look the way they want, and find out that they could only sell it for the same amount they’ve invested.
You could end up spending hundreds on your domains, only to get just about the same amount back, or maybe even less.
This isn’t likely, though, once you get a hang for how it all works.
But, in the beginning, it’s a possibility.
Also, you should be aware that some of your domains could take months, or even years, to sell.
It’s not always a quick process, so you should prepare to have some money available for your upfront investment that you won’t need back right away.
And then there are always some legal issues involved.
You could wind up purchasing a domain name with a trademarked name without realizing it.
If that company wants to go after you for doing so, it can.
Or, if you buy a domain name that includes someone’s real name, he or she can fight you for ownership of your domain.
Things can get a little sticky when flipping domains, so it’s very important that you understand what you’re doing, and know what to avoid, before you purchase domains for your portfolio.
Conclusion: Learn How to Make Money Buying and Selling Domain Names
There’s no doubt that domain flipping is an interesting business model.
Once you get good at it, it could even become your job (albeit, a risky job to depend on for full-time income, but some people manage it!).
I recommend taking advantage of the many online resources on this subject to delve a little more in-depth with buying and selling domain names.
Learn how to buy and sell domain names in Surat
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June 9, 2018
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