Going Once, Going Twice! How to Succeed in Domain Auctions
Originally posted on https://iregister.al/going-once-going-twice-how-to-succeed-in-domain-auctions/
Domain auctions are a great service for buying and/or selling domains. Level up your domain auction game with this detailed guide.
Even a few years ago, getting a domain for your business was still affordable if it was in the $10,000 range. These days, domains go for much higher as every company has migrated online and has seen the power of owning as many domains as possible. This makes the industry of domain auctions a lucrative way to make money.
If you have domains or are looking to acquire some, check out this guide to ensure that you do well in your next auction.
How to Buy Smarter
Sites like Sedo.com, SnapNames, and GoDaddy Auctions all allow domain owners to list what they own. You can even sell domain names on eBay if you’re savvy about spreading the word. On Flippa.com, you can list for just $9 and you only have to pay them a 15% commission.
If you’re not sure what you want to buy, think about niches where there’s a lot of action on the internet. You can shop for simple names like “sandwich.com” or “computer.com”, which are URLs that many leading companies wish they owned.
Search for expired domains on sites like FreshDrop.com to see what the latest inventory is. Find out why domains were dropped and you might be able to take action on a valuable domain that an owner forgot to renew.
Master the Bidding Process
Before you place your bid, consider how much you could make from that domain name. Tools like NameBio.com and DNSalePrice.com allow you to compare prices. Remember that “.com” URLs sell better than ones with other suffixes.
If you’ve won the bid, you need to get in touch with the seller. Most marketplaces will arrange this for you. If you lose the bid, keep your eye on the sale and stay in contact with the bidder. Sometimes these transactions fall through and you can swoop in and get the domain anyway.
For a domain that you just have to have, check whois.com to see who owns the URL. You may be able to reach out directly and make an offer to a domain owner who is just sitting on a URL they don’t need.
Start with a quick visit to the site. If the site is fully fleshed out, the sale price is going to be high and you might have a tough time getting the domain at all. If there’s no website, the URL might just be a holdover from a previous owner or bought on a whim with no intention of being used.
Sell Like a Pro
When you have a valuable URL, you need to sell it at on the right site. Posting it to a site that gets little to no traffic or where URLs sell cheap is going to be disappointing. Since most transactions are binding, this decision has a huge impact.
Use a valuation tool to help come up with a price tag. The older a domain is, the more it could be worth. If your domain is already earning money, consider that the same way you would when selling a small business.
If you’re selling a major domain, you don’t want to get burned. Put the money into escrow to protect both yourself and the buyer.
Domain Auctions Are Only Going to Grow
Year after year, the value that URLs fetch at domain auctions is only going to go up. Over time, every domain is going to become more valuable as more people want to take advantage of a word associated with a product or a valuable brand name.
For one of the latest examples of a seven-figure domain name sale, check out our coverage.