$30k for a Domain Name? “It Was the Best Money I’ve Ever Spent. Ever. Ever.”

Elliot Silver
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Looking to convince someone to spend 5 figures on a domain name, but they are reluctant to make the plunge? Perhaps it would behove you to share this video of Scott Voigt discussing his company’s branding pivot from HomeBase.io to Full Story. In this tweet shared by Peter Askew, Scott Voigt discusses just how much his company benefitted from spending $30,000 to buy the FullStory.com domain name.

It’s no surprise really, but when some people are contemplating a major domain name acquisition, they tend to focus on the cost. Good domain names are very

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How I Evaluate GeoKeyword Domain Names

Elliot Silver
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I own a fair amount of geographic keyword domain names. I don’t know how many I have right now, but I would guess the number is around 30+/-. I have only sold a few of them in the last few years, but I want to share some thoughts I consider before purchasing them (typically in auction or hand registrations).

Most of the geographic keyword domain names I own have the following attributes:

  • .com
  • Medium to large US city
  • Keyword is relevant to city
  • The keyword industry is large enough that there are many prospective buyers
  • Solid keyword sales history

One of the more important aspects is the relevance to the city. Buying snow related domain names might be good for northeastern US cities, but they would not be good for Florida cities. This is probably common sense, but it is something that needs to be considered at the outset.

When evaluating domain names,

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What Kinds of Domain Names Are You Buying?

Elliot Silver
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A couple of years ago, at the suggestion of Scott Rosenbaum, I published an article asking people what types of domain names they are buying. This enabled some people to connect and discuss deals. Since it has been a while since I posed that question, I thought I would ask again (also at the suggestion of Scott).

I am still on the hunt for meaningful one word .com domain names. The names I buy should be known to pretty much anyone that speaks the English languages and they should immediately know what it means. Having a positive connotation is also important to me, although it is not a deal breaker. I especially like fruit names, color names, animal names, or pretty much any other type of exact match .com domain name that could be used as a brand. As you should know, I only invest in .com domain names. I am not interested in investing in non .coms no matter how good the keyword. That’s not my business model.

I invite you to share the types of domain names you are currently buying in the comment section. No need to be super specific though since I don’t want to turn this into a marketplace where people try to hawk their domain names. If you want people to be able to connect with you to offer their domain names, you are welcome to leave your contact information. Always do your due diligence before buying and use an escrow service!

If you have a meaningful one word .com domain name, get in touch. There’s nothing wrong with not having this type of name, but it is what I am looking to buy.

Domain Name Escrow Process

Elliot Silver
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When I am dealing with someone who is unfamiliar with the way escrow works for domain names, they often ask me about the process. In response, I let them know how the entire escrow process works from the beginning until the end. I believe the steps are pretty similar between Escrow.com and Payoneer Escrow, but there would be some differences for a lease to own, payment plan deal, or a deal that is out of the ordinary.

I thought I would share this with you along with some parenthetical notes. This can be shared as a guide a buyer or seller about the escrow process. I invite you to share some comments to make this more clear if you think it is confusing.

When I am the seller:

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Domain Appraisal Section Can be a Good Place to Find Domain Names

Elliot Silver
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There are many people who own domain names that have no idea of what they could be worth. Some of these people may have bought a domain name on a whim while others bought a domain name for a project that didn’t take off or didn’t get started. The domain name appraisal section on forums like NamePros and previously DNForum are some of the most popular sections, and they could be a good place to find a domain name to buy.

When someone with a great domain name asks for an appraisal, it is because they either received an offer to buy their domain name or they are ready to sell it. By publicly posting their domain name in the appraisal section, they can get an idea of what domain investors believe the domain name is worth. I think some of these people also do it as a means of generating a bit of publicity for their domain name.

From my perspective, this can be a great buying opportunity. On occasion, I have seen a great domain name posted for sale in the appraisal forum, and I have reached out to try to strike a deal privately. If it looks like the domain owner would like to sell a domain name I want to buy, it doesn’t make sense not to connect and see if a deal can be struck.

A key thing to keep

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Recency and Venue Are Important for Comps

Elliot Silver
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I was discussing the price of a domain name with a seller, and he shared a few public comparable domain name sales to justify his asking price. One of the comps seemed abnormally high to me. Although the sale price was apparently accurate, the domain name sold many years ago and the market has changed since then.

As a buyer, it is important to look beyond the sale price of the domain name. The date and venue are also important considerations that should be made by the buyer to understand more about the sale.

A domain name that sold

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