I just purchased six new domain names that I think could be fairly valuable. I bought them through GoDaddy with the intention of using GoDaddy’s auction service. However, after doing a little research, I discovered the domain selling business is far more complex than I realized.
Can anyone offer some good advice or recommend a good tutorial for getting started? Should I use someone other than GoDaddy to sell my domains? If so, will I need to transfer my domain names from GoDaddy as well?
I’m also perplexed by the pricing. On GoDaddy’s website, I saw examples where people bid thousands of dollars for domains like 7058.com. Does this sound possible, or do people just play games in an attempt to make domain names look more valuable than they are?
Thanks for any tips.
Hm, just thinking out loud here, but my understanding is that we average folk only get second choice on domains for sale. If you’ve just bought them for a certain price, I’d say that’s probably about what they are worth at this stage.
Anyhow, you could check out Flippa, which is SitePoint’s sister.
Sorry, I don’t understand what you’re saying. I just paid the basic fee - $9 or $10 apiece. They’re based on words that I think will receive more publicity in the coming months and years. That’s why I thought they might be worth at least a few hundred dollars apiece, though I’m just speculating.
Thanks for the tip about Flippa.
They very well could command a higher price in the future. Plenty of people “domain name squat” for a reason.
But my guess is that it is like an investment risk. That is, if you just recently bought them, that’s about what they’re worth. What the future holds is unknown.
To get high prices for domains, you need high quality content on the web site that the domain will point to. While a part of the value of a domain name is in how easy it is to remember, a large part also comes from the content that makes it worth remembering.
To get the highest return you either need to sell it with a site that provides that high value content or sell it to someone whose site already has that content and can benefit from the domain name.
Every few months I have someone offer to sell me a particular .com domain name for an unspecified price (presumably in the thousands or even tens of thousands) because I have the corresponding .net domain with appropriate content that would make that domain more valuable pointing at my site than it would be if sold to anyone else. I don’t consider that domain to be worth even their minimum price to me and it would be worth even less to just about anyone else and so I can’t see that they will ever manage to sell the domain for anywhere near what they are asking for it.
I noticed that too, been given quotes in the thousands, where I wouldn’t even consider anything over 100. I always wonder if anyone ever does pay those kind of figures.
I would have thought only massive companies could afford that kind of money for a domain name!
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