I know what Ron’s numbers are telling him (and us), and I know that many domain investors at all levels are publicly and privately saying that there aren’t many buyers (on the investment side) out there right now. However, I think there are still plenty of buyers out there, but it just takes extra effort to find them these days, and your pricing has to be reasonable.
Here are a two suggestions on how to find buyers right now:
Contact some of the new owners of domain names that recently sold (listed on DNJournal) if you have similar domain names. Distinguish between end users who bought a name because it matched their corporate branding from those who were buying to enhance their company’s online presence, and from those who are investing in domain names. Each type of buyer has different needs, and you need to be able to tell what their needs are before you contact them, otherwise they will simply delete your email.
Follow along with what is selling at the auction houses – even the inexpensive purchases – and contact those buyers as well. Send them similar names that you own and price your names reasonably. Remember, if you are contacting them with names that you’d like to sell, you should name your price upfront. You might make less profit per domain name this way, but if you sell a small portfolio of names, you will increase your profits, despite a tighter profit margin.
I have been finding that there are less buyers in the $10-100k range right now unless you are giving really great prices on your domain names. However, it seems that people are still buying less expensive domain names, which can still be highly profitable. Buy smart and sell smart.
On a side note, I plan to discuss my experience with Snapnames outlined in my post, “Make a 1,000% Profit.” I am leaning towards keeping it in the newsletter, so sign up if you’re interested. (If you think the weekly/bi-weekly newsletter sucks, it’s easy to unsubscribe since I use Constant Contact). The results I have have been very strong, but I won’t write my summary until the funds have been wired.
Do you really feel that unsolicited (sp) emails to other domain owners is a good idea? I can maybe see end users but other domainers im not so sure.
Most of my sales are still to domain investors. Its quicker and easier to do business with the, although possibly less lucrative.
The downside is that you risk a ding to your reputation if you offer a crappy domain name as an attempt to sell a “similar” domain name 🙂
Quit doing stories on ideas I’m working on too for my blog. Dang, between you and Dub-A, I’m never going to get a good scoop out.
I agree with what you’re saying tho… as usual. 😉
Here’s a neat little focus trick for selling to end users…
Search up your domain name’s word/phrase IN QUOTES on google, and see how many results show “BOLDED” your domain word/phrase. Eliminate the nextag and ebay and mainstream Jabba the Hut online companies who buy every possible phrase for several cents (and at a discount with the SE’s cuz they buy so many). Find the companies that feature your domain’s exact word/phrasing (which will be shown bolded in your results) and then send them an email.
If you check their contact info and get a person’s phone number, do a phone call instead, and let them know you’re sending them an email and to watch for it. THEN, if you have domains you’re willing to sell at petty cash pricing (anything $5000 and under), send them the domain names that match that company’s prodservs, and offer them up for that magical 1000% – 5000% profit.
Make sure these aren’t domains that will kick out big bling when the economy starts to break its fever, or domains you’d be better off building out yourself.
Okay, that’s all I’m saying bro. I’m calling you and Dub-A out to make a few comments on my blog at http://www.successclick.com or I will start posting my thoughts on my own blog instead of giving you guys the free content! Dang! I should have thought of that two years ago!
Hi Elliot, I’ve been reading your blog for a while now. Thanks so much for the great insight. By the way, just out of curiosity, what’s the price domainers are willing to pay for domain names (on average)?
Really depends. It’s like asking how much a car dealer pays used cars 🙂 Depends on make, model, conditions…etc.
I’ll be sure to forward you all the lovely lists of names I’ve had sent my way. 🙂 It’s a good idea but when you add a few door knobs who don’t get the “reasonable price” or that their collection of .mobis isn’t all that attractive, the whole concept sucks. Way I figure it most of the people who get it and are smart enough to have good names, and price them right already have figured out how to sell their domains. . . . but maybe I’m wrong 🙂