When Registering New Names, Price them Smartly
I wanted to share some advice to people who are new to the industry, and perhaps others who make the same beginner mistakes. If you just registered a domain name in the past month or two, and you are looking to sell it for thousands of dollars, it makes you look pretty silly. Unless you registered a domain name for a term that was just coined or some other very hot trend, chances are good that the reason it was unregistered was that others didn’t believe it was worth the registration fee, let alone the thousands of dollars you are trying to get for the name.
One of the keys to my success when I started out was that I priced my new registrations pretty well. I saw people were trying to sell new registrations for several hundred dollars, and I was very happy to sell the names I just registered for $30-100/each. Sure, it took longer to make a large profit than it would have if I sold just one name for several thousand dollars; however, the likelihood of selling a new registration for thousands of dollars is slim to none (and slim just left the building). Yes, I’ve seen it done a couple of times, but I’ve seen more people get chastised for trying to do this than for actually selling them.
If you are trying to break into the business and do well financially, it looks pretty unprofessional to expect a gigantic return on your very short-term investment. Don’t be greedy, and you will be rewarded over time. For some examples of this, search the term “domain” on Ebay and sort from highest prices to lowest, and you will see plenty.
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