Most of Us Missed The Boat… Again
Over the years, I’ve heard people say things like, “I wish I knew about domain names back in the 1990s. I would have bought some of the best names and sold them for a lot of money.” For some reason, people think that they had to be knowledgeable about domain names back in the 1990s or even early 2000s to make FU money. This is BS.
If you are at your computer reading this on a nice Friday before Memorial Day weekend, you are probably like me and missed the boat in the 1990s and as recently as a few years ago. I never look back regretfully at the 1990s, but I do feel like I missed the boat with numerics and short .com domain names.
I have owned and sold quite a few numeric and three letter .com domain names. I made a decent profit on them even. However, had I been more aggressive in my acquisition efforts a few years ago, I probably would have earned enough money on sales to be able to retire or at least scale back considerably on my work.
Some numeric domain names that were sold for $500-$1,000 just a few years ago are selling for $8,000 – $15,000 +- on a regular basis. Some domain names that sold for $10,000 – $25,000 a few years ago are selling for six figures +- on a regular basis. Some of the better names that would have been in the mid five to low six figures a few years ago are now selling for high six and low seven figures +/-.
Put into real terms, had I spent $250,000 – $500,000 on a portfolio of numeric domain names just a few years ago, I likely could have sold those for $5 million +/- at today’s price levels. For most professionals in this business, spending $250-500k on domain names is very do-able. It’s not like we’re talking about tens or hundreds of millions of dollars that most of us don’t have available to us on a moment’s notice. $500k is substantial, but it’s not like we are lamenting about home sales in New York City in the 1960s without considering inflation, average wages, and other factors that make prices seem so cheap.
The numeric .com domain name market exploded right in front of our eyes, and there aren’t all that many people who made a killing on them. Yes, there are many who made good profits. Heck, I made some great ROIs on private deals, but none of those were really business altering.
I would rather look forward than look backwards, but most of us missed the boat.
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