I almost always seem to feel more excited when I buy a domain name then when I sell a domain name. Don’t get me wrong, it is a very good feeling to lock down a profitable sale, but this feeling usually pales in comparison to reaching a purchase deal on a domain name I really like.
When I agree to sell a domain name, I often feel like I am leaving money on the table. Whether this is true or not is something that can only be known in time if the buyer resells the domain name, but it is a feeling I regularly have when I sell domain names. I understand the probability of selling a domain name, and I am regularly willing to sell a domain name if it makes financial sense for my company, even if the deal isn’t perfect. My philosophy is that if my margin is decent, I don’t mind leaving some meat on the bone for the next guy.
When I am buying a domain name and thinking about its potential future sale price, the sky is the limit (as the cliché goes). Perhaps a well-funded start up will need this domain name badly enough to overpay, or a company with deep pockets will need to buy the name. As anyone who sells domain names with regularity knows, these outcomes are rare. However, the possibility of this happening makes buying domain names pretty exciting.
I believe that the most critical aspect of this business is buying good domain names at good prices. Even if I don’t maximize a sale, a future deal can still be profitable. Because of this, my purchases usually feel better than my sales.
I am curious if you feel the same way.
I feel the same way Elliot. Even after a good sale I feel as though I might could have extracted more. When I buy a great name for a great price there is no better feeling.
I feel the same, but if I sense I’m getting too greedy I remind myself about all the good offers that I’ve had that I turned down (in the hope of a better sale down the road…and still waiting for….). Even if you’re extremely bullish about domain names you’ll likely own so many of them that if names continue to appreciate you’ll do very well, always worth selling a few on the way just in case something changes….
Totally agree.
There’s no high like buying a name for a great deal.
Every time I buy a name I feel fortunate that I was the ONE person who
landed it for a fair price.
Every time I sell, I feel there are MANY people that have the opportunity to buy it.
Agree! Buying a great name is way more exciting.
Empathise with that. I guess we see the potential but do not have the B!!!!to develop !!
Getting a good/great deal is one of the most satisfying feelings for me personally. Domaining just so happens to be one of the best ways to do that still. When I get a great domain at a price I consider a bargain, I don’t even think about selling it. That has nothing to do with the satisfaction or the high. When I do sell, I am relieved and happy and I don’t think about money on the table or the like. Both feelings are great and temporary and I look for the next thing around the corner either way but I am in it for the thrill of the great buy.
Like you I use to feel happier buying a name then selling.
Now I noticed that after owning a domain sometimes I do not mind to change it with something new, this allows me to feel again the acquisition pleasure but without spending money.
You certainly know what I am talking about…
PS: I feel this to be very nice of you “My philosophy is that if my margin is decent, I don’t mind leaving some meat on the bone for the next guy.”
Yep..buying at the right time is soooo gives a ton of pleasure and happiness to me too. Finding a gem amidst the junk is more meaningful to me..i feel happy to discover it at such low price…and this allows me to leave some money in the table and quite be happy while selling too.
It gives the satisfaction…and a smile 🙂
Elliot, I like the feeling of buying a domain better too, because the joy is in the hunt, the research, the data, the hunch, the find, and the possibilities. I’m always thinking about what it could mean to the customer, though, not just the buyer. How might it help change the world of a person with a medical condition, or a person shopping for petite sweaters that are so hard to find, or who is passionate about the sport of hurling or looking for the perfect engagement ring diamond or needing a place to relax a minute in a hectic lifestyle. A good domain can be a catalyst for solving real problems and making life better for a lot of people.
You are 100% correct about that Elliot.
When you say goodbye to a domain, it’s like saying goodbye to a friend.
That excitement that you had during its acquisition has now come to an end; your time with that friend is gone, and will likely never come again.
Goodbye my friend.
Same same Elliot except when escrow with you