Tip for Buying Valuable Domain Drops
I usually spend a couple hours a morning using Freshdrop to see what domain names will be coming up for auction later this evening at NameJet, and what will be up for auction in a month or so (if the names aren’t renewed). There are certain traits I look for in the domain names I monitor to purchase, but I want to share a tip with you that might help you buy some good domain names that can quickly be flipped.
After you’ve set your personal filters based on your preferences, I recommend having a look to see who owns the same domain names in different extensions. You should also use the Whois history tool to see who previously owned the domain name that is dropping.
This information is invaluable to me, and it should be beneficial to you as well. Let’s say you’re bidding on a legal domain name, and you see a large law firm owns the .net. Assuming the name is a descriptive name rather than a branded name (or name of a lawyer for instance), you may want to target that name to buy at auction, with the hopes of selling it to the owner of another extension.
It’s likely that the owner of the other extension would be interested in upgrading to the .com domain name if you are able to win it at auction. Of course the obvious caveat is that you need to wait until you win said domain name, especially if it’s a lawyer that might think you are attempting to sell an item that does not belong to you. You also need to make sure it is descriptive and not someone’s trademark or service mark.
There may be limitations on how quickly you can transfer or push a domain name depending on the registrar, but it’s a great way to find leads for domain names you might want to purchase.
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