“So Many People Are Going to Lose Their Shirts”
This afternoon, someone posted the following comment in response to a new gTLD video that was created by 101Domain:
“So sad that so many people are going to lose their shirts over these new tlds. Sob, sob.”
I regularly see comments here, on other industry blogs, and on forums that seem to express pity for people who are, in the opinion of some commenters, going to lose money by buying new gTLD domain names. I don’t really understand why people are so concerned about how others are spending their money.
If someone makes a $100,000 offer to me for a domain name I hand registered a month ago, should I investigate their background to make sure they can afford to spend so much on a domain name and they have a plan to use this domain name in a manner that will earn them a positive ROI? Should I be worried about their financial well being because they are, in my opinion, overpaying for a domain name that has little value?
I can’t imagine someone would turn down a substantial bona fide offer for a domain name simply because they are concerned that the offer is coming from someone who might end up losing money on the investment or business idea. Likewise, I don’t understand why so many people seem concerned that other people are buying new gTLD domain names.
Investing in domain names is a risky business. When I buy domain names for my company, I prefer to stick to excellent .com domain names. I know there is a strong market for them, and I use my experience to evaluate domain names and do my best to pay a fair price for them. Other people are more comfortable buying other types of domain names. Some people stick to the main extensions and others buy domain names that use the new extensions.
If I am wrong and lose money on domain purchase, I don’t expect anyone to feel badly for me. There is a risk with every purchase.
It seems strange that people have this concern about others when it comes to their buying habits, but they almost certainly wouldn’t think twice about selling one of their own domain names for significantly more than they believe it is worth.
As always, I welcome your thoughts and comments.
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