With the Coronavirus outbreak making people sick around the world, almost everyone seems to be impacted to some degree. Many people are concerned for their health and are changing plans due to the outbreak. This has caused world stock markets to tumble, production to decrease, and things are getting rocky.
I posted a poll on Twitter asking people if they are spending more, less, or the same amount of money to buy domain names in the wake of the Coronavirus outbreak:
With the Coronavirus outbreak, are you spending more money, less money, or the same amount of money to buy domain names?
— Elliot Silver (@DInvesting) February 28, 2020
On one hand, there is a whole lot of anxiety causing jitters in various markets. This might make some people more willing to sell their domain names to build up a cash reserve. This could lead to more good deals coming on the market. In addition, some people may bid less on auctions, allowing others with bigger bankrolls to take advantage.
On the other hand, with economies potentially hurt, this might be a very good time to save money instead of spending money. Keeping one’s powder dry is always a good idea, and opting to keep cash on hand instead of buying domain names may be a better strategy at this point.
Some people may think this is going to pass without a real impact, and there’s no sense in changing domain name spending habits.
I am interested to see what readers think and what their strategy is in this uncertain time. Vote in the poll and share your thoughts in the comment section.