It’s two for the price of one day today. I want to share another domain buying tip that has helped me, and judging by a number of the names I saw on this article, I think it can benefit some of you, too 🙂
When you are buying a domain name, if you have to explain what the domain name actually means to a friend or significant other, it’s probably not worth buying. Sure, it could have meaning to someone else who thinks like you think, but what are the odds that the other person who “gets it” will also understand domain names and want to pay you a premium for it? Probably slim, and each year it will cost you another $10+/- annually.
Yes, the domain name you found may have value, but it’s most likely only valuable to someone who inquires directly to buy the name. That means you will have a difficult time selling it to someone else via outbound marketing methods. If the domain name had not been previously registered in the 15+ years of Internet history, there’s probably a reason.
There are certainly great unregistered domain names out there to find, but again, if you have to explain what a particular domain name means, it’s probably going to be confusing to others. One other small tip is that it helps to have someone like a significant other or friend give a domain name a once over before buying it.
Everyone has some interesting domain names in the portfolio (ie a Saturday at 3am registration), but if you can limit the number of questionable domain names, you will strengthen your domain portfolio and cash position.