Letting 300 domain names drop

I made the decision, well actually, my finances decided that 300 domain names must be dropped between the last day of this month and well into March. Many of these domains could have sold if I wasn’t tricked into believing domain valuation systems. I learned the hard way, but I quickly picked up on making adjustments.

In my opinion, NameBoy influenced me to register many NYC hyphenated domain names I overvalued. Their system set high values .com domains, even if they have a hyphen. Estibot is responsible for me registering reverse order domain names that appraise for high figures. Should I let 5 .com domains drop that Valuate and Estibot suggest are worth between $10,000-$35,000?

Sedo even hand a role in my registrations. In my opinion, their price suggestion system is ineffective. It is responsible for me registering many reverse order domain names they say are worth thousands. After making many mistakes, I managed to recoup the investment on good names I decided to buy on my own. I managed to purchase a few marketable names at the same time.

In the early stages, I purchased job, movie, and taxi domains. I also registered NYC domains. Whereas, I’m more into domain flipping, I don’t incur the annual registration fees. I can easily browse the list of 300-400 domain names, I can choose which to keep, and which to drop. It takes time to gain that knowledge. I can send a list to an elite domain investor, and their investment mind will tell me to drop all the domains. There are many gems that I plucked out of the bunch to sell to buyers.

The motivation behind this post is to inform you that I don’t renew domains that I determine are not worth the risk. One reader asked several months ago how I managed to afford the renewal fees. I only renewed one domain this past December, and one domain last January because a buyer contacted me to purchase the domain a week before the expiration date.

I don’t regret buying the domain names. It’s like buying 100 lottery tickets, and winning back your money on 5 tickets. You can look at domaining as a gamble, but I consider it to be a strategy. I made back several times my investment on resume domains with 2 sales. I have 88 more to sell. You have to buy domains in order to sell them.

My younger brother made the mistake of listening to others. He believes what he hears and reads. He only purchased 8 domain names, which gave him no chance to make a sale. I coached him to purchase a job, an education, and another domain that hold good value. He never succeeded last year because he waited on the sidelines while every other domain investor made a profit. You can’t wait for results.

I’m letting 300+ .com domains drop to save money. I’m not losing $2,400, instead I’m gaining $2400 to invest in domain names that I know can sell later. Some people may disagree with my resume purchases. However, they would change their mind if they knew about a recent sale, or even my planned sales. There is major demand for good resume domains. I have many of the good keyword domains.

When you purchase domains, you have to know who you will be contacting once the 60-day transfer ends. It is important to know which registrar the company uses. If they use Go Daddy, then I can transfer the domain name the same day I register them. It’s considered more so an account change than a change of registrar. I didn’t take a gamble on resume and job domains. I always knew that I could find buyers.

I did gamble on domain names in the past. I have notebooks filled with what domain names I planned to register, and which to avoid. I made a good decision on job domains. For the most part, I sold a majority of the job domains. Now I own GEO job .com names that I know I can sell. I own 5 GEO .com hotel domains that will find a buyer. I have dozens of education .com domain names.

When you are domaining, you take a risk to speculate on domain names. However, I don’t take too many risks with buying domain names. I buy domain names that I will keep if I fail to find interest in them. Think of domaining like purchasing groceries, clothes, and electronics. I don’t go out and buy every new electronic device, or toss a dozen packs of the top steak in my shopping cart. I don’t buy 50 pairs of jeans, or a dozen blazers to impress others. I make calculated purchases.

I will let 300 domain names drop at only the cost of registration. I didn’t lose the money. I made back the money selling the gems in the bunch. One domain sale led me to purchase another domain in the same niche. If I sold 1 movie domain, I knew to buy another 3 to present to the buyer. If I sold one job domain, I then knew to buy more job domains to sell to the buyer. When I look back at my past purchases, I realized that 1 job and movie domain, and 2 taxi domains helped me to stay in the domain industry. I know that purchasing one .info site helped me to keep buying domain names.

Every purchase that wasn’t related to determining an appraisal value, or a price suggestion value, benefited me. If I took my experience now back to the past, it would stall my success. I had to struggle, make bad decisions, and to buy many domains to determine what buyers wanted. I have a buyer reserved for job domains. I know a few buyers that will buy resume domains.

I don’t have any regrets letting 300 domains drop, which I paid $2100. It is part of business. Gaining the knowledge to make better buying decisions is valuable to my future. In addition, the sales experience I gained in result of the crash course learning helped me to succeed. I stayed up many long nights, read many blogs, commented on dozens of blogs, got ridiculed many times, had conflict, purchased hundreds of domains, sold dozens of dozens, and trusted many different domain valuation systems. I learned to trust my instinct.

Estibot and Valuate may be responsible for me purchasing many overvalued domains, but their system is responsible for me not making bad purchases. I usually save domain names on the iPhone’s Go Daddy app. I appraise the domain names, not for value purchases, but to analyze the keyword stats. That helps me to determine which domains have some market value.

The 300 domains I’m letting drop in a few days helped me to remain in the domain industry. We hope to sell every domain name. But, our goal is to look at the bigger picture. Many people don’t wait around at the movies to watch the end credits. They don’t really care about the grip, the script supervisor, the costume designer, and the set decorator. All they care about is whether a movie is good or bad, and whether they got their money’s worth. You will find a few moviegoers that enjoy watching the end credits. I’m glad I watch the end credits because I know the value of a production. I also didn’t miss the ending to the Dawn of the Dead.

Never look at what you lost. You will have to let many domain names drop. Buy domains that you know will find a buyer. Furthermore, buy domain names that will not be a burden to keep if you can’t find a buyer. I don’t mind keeping TaxiSchools.com, ResumeCampus.com. I like the domain names. They may not be worth a fortune, but they are cool to look at. It helps me to think back when I used to stare at all my valuable Silver Age comic books. If I owned those comic books today, I would probably not be writing this article. Sometimes not having money helps you to save money. You won’t go out and make unnecessary purchases.

Letting 300 domain names drop will save me money that I can invest into domains I can sell. The domains that are dropping have value, but they don’t define my collection. They don’t produce any ad clicks. Maybe another will find them to be useful. I know now that I have to the skill to buy domains that will find a buyer. Every job, resume, and education domain I purchased will lead me to another popular niche. As for now, jobs and resume domains are long-term gains. Whereas, education domains are perfect to monetize due to having high CPC. I try to look at the positive side of domaining.

It is all too easy to fall into a negative slump. Many new domainers may give up because people tell them they have junk domains. Every domainer wants to make a sale. Some have the money to buy valuable generic domains. Small time domainers buy speculative domains based on popular blogs influencing their decision making.

My best advice is to do the opposite. If the media tells you should invest in one area, choose another. People told me to stop buying resume domains. However, I will be much more motivated when the funds arrive from the completed sales. I also know I have a few buyers I can contact in the near future. If you buy the right domains in the right categories, you will never be considered a failure. Network with people that operate in those verticals. Then, you at least know that you can always sell the domain them. Domaining is about scoring the quick flip. I can’t afford to be a domain investor. I can probably retain a dozen domains for long-term investment, but all my domains are on the chopping block. You have to detach from your domains. Don’t get all sentimental when trying to sell a domain. Your personal connection to the domain will influence a sale. Domainers overprice their domains, which reduces their chance to make a sale.

I’m letting 300 domain names drop. I know I’m making a good business decision. I still own 481 domains, which will find buyers. Keep in mind, I own various extensions. I have .com, .co .net, .org., .info, .us, .mobi, .me, and .biz domains. I only have 8 .mobi, 1 .biz, 6 .co, 1.me, and the rest are spread out across the remaining extensions. I own more .com domains than any other extension. .com domains have produced the best sales. However, .us domains have been good, as well. .net domains are also good. If you are into domaining, don’t speculate on domains that will take 3 years to make a return on investment. You have to look at what is hot now.

Don’t have any regrets. If you drop your domains, and then another domainer registers the domain to resell it at a major profit, don’t worry about it. I walked off a few slot machines in the past, which the next person won enough money to help improve the quality of my life. It sucks to watch these people win. It’s sometimes dejecting to watch others make big sales. On one night several years ago, I could have won enough to make my car payment. In another situation, I changed a set of Fantasy 5 lottery numbers, instead of investing another $1 to buy another ticket. I lost out on getting 4 out of 5 numbers. We remember many mistakes, and learn from them.

I didn’t made a mistake buying these 300 domain names. I was still learning. I depended on bad information, but located good tips to do well. A few blogs and commentors told me to stop purchasing reverse order domain names. I did. I purchased more movie, taxi and job domains. I purchased NYC domains, and a travel domain. Out of my massive registrations, I registered 5 domains that defined my future. As I learned more, I made better buying decisions. I never listened to criticism. I continue to do what works for me. Never drop a domain just because it is valued less than $100. Evaluate the domains to determine whether you like the domain, or if it has the potential to produce a sale. In essence, I’m letting 300 domain names drop to save me money, as well as to invest in better domains to make money. If I priced the domains for less in the past, I probably would have sold many of these domains. I have the experience, so knowledge will help me to operate more efficiently. Thanks.

Advertisements
Explore posts in the same categories: Domaining Tips

Tags: , , , ,

You can comment below, or link to this permanent URL from your own site.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: