Opportunity Cost of Lost Opportunities
While some people may complain that its almost impossible to find a true premium generic domain name at a “good” price these days, I believe there are still great deals to be had.
Like the saying goes, sometimes it’s necessary to overpay today to find a good deal tomorrow. I believe there are three reasons to overpay:
- Create goodwill with a domain owner/seller to buy the next name (the really desirable name) from him for a fair price. Most sellers prefer to deal with trustworthy, quick paying clients that they know rather than trying to establish a new relationship with someone else.
- Acquire a group of domain names in the same vertical or a set of similar names that add value to each other. If a person owns the singular and plural of a name (Deal.com & Deals.com), the value of both can be enhanced as a set. Likewise, owning several extension (.com/.net/.org/.info) of the same domain name can increase the value, too.
- Ensure that the offer meets the seller’s needs in order to secure the name. If the seller isn’t inclined to sell for market value, it may take a considerably larger sum to convince the owner to sell.
Frequently, a person only has one chance to buy a domain name before someone else acquires it for a development project. Once a domain name is developed into a website, the name may be impossible to acquire. To avoid this, sometimes a buyer has to jump on an opportunity as soon as it presents itself, or the name may not be on the market again.
If the ideal domain name is available to acquire, now might be the time to do what it takes to secure it. Otherwise, it may be a source of regret down the road.
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