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5 With… Jessica Bookstaff, PigeonForge.com

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Jess Bookstaff.jpgWith hard work and determination, Jessica Bookstaff has become a successful Internet marketing entrepreneur, owning popular geographic websites such as PigeonForge.com and Durango.com among others. Clients, partners and colleagues love working with her because of her contagious enthusiasm and bubbly personality, coupled with her intelligence in the geographic marketing space.

Since acquiring PigeonForge.com in 2000, Jessica has been developing the site with a firm belief in original content, electronic newsletters, visitor interaction and satisfaction. She believes that one of the keys to success in the city.com industry is a clear understanding of customer and market needs. Jess and her websites are ambassadors for the cities they represent, and she does a fine job at that. Clearly she is onto something, as the site has grown 1,400% since she took the reigns.

Jessica has been active in the Internet industry since 1998 managing marketing and public relations efforts for a mature start-up company. She enjoys the challenge of implementing effective site design and content management with a goal to increase overall revenue. She is actively involved as a board member of CASA of East Tennessee (Court Appointed Special Advocates) and a board member of Associated Cities. In her spare time, she is a volunteer with Junior Achievement and the Boys and Girls Club of the Smoky Mountains. Jessica lives in Knoxville, Tennessee with her awesome dog, Jackson. She enjoys running, biking, and the occasional dance-off.

EJS: 1) For geographic domain names, is .com considered the king, or are other extensions just as good if the intent is development? Is it worth paying a considerable amount more for the .com over another extension?

JB: “I am a purist. I truly believe that .com is the best extension by far, and I believe this will always be the case. .com is branded just as Coke, Kleenex, or Xerox are branded. It has become a generic term used describe and entire industry. This being said, it is absolutely worth paying considerably more for a city.com domain. I have passed on purchasing many other city names with alternative extensions. Saying this, I would never discourage anyone from developing their domain be it a .com, .net or .whatever.”

EJS: 2) If you had the opportunity to acquire a phenomenal geographic domain name, but you had no interest in that particular geographic area, would you buy it and develop it, buy it and resell it to someone else for a profit or pass on it?

JB: “Casting my emotions aside, as long as a) it were a sweet name and b) there was viable business potential, I would buy it and develop it – Absolutely!”

EJS: 3) What are you three favorite geographic websites, and why (other than the ones you own)?

JB: “There are so many I like and for different reasons, but if I must, I will only give you three …

Saratoga.com – I love the design and creativity they put into their sites. They are aesthetically appealing and user intuitive.

NewYorkCity.com – An amazing job developing the site using user generated content. This really gives the site a “community” feel.

SanFrancisco.com – as well as the other Boulevards sites using this design. So clean and organized yet packed with information a visitor or local resident could use.”

EJS: 4) To date, what are you most proud of in your business?

JB: “The relationship and reputation I have with my clients (250 +). They believe in my product and goals. I have personally met about 95% of them which is sometimes rare in this business. They are really like family!”

EJS: 5) Who has been the most influential person in your career, and what was the best piece of advice that person gave to you?

JB: “I’m picking two – my dad and brother. They have both given me so much advice and encouragement. One thing that sticks out in my mind my dad said, Just do your best and give it a try (referring to the purchase of PigeonForge.com in 2000). Thank goodness, I listened! Blake, my brother and possibly my biggest fan, always challenges me to look at everything from a different perspective. It’s really important in decision making and gaining clarity on issues. My dad did tell me Men are like streetcars – one comes along every 15 minutes. That’s stuck, too.”

***Bonus Questions!!!

EJS: 6) Aside from the camaraderie with like minded people, what other advantages are there to joining Associated Cities?

JB: “Besides hanging with me? Just kidding! Seriously, I am amazed at each member of Associated Cities. All the members are so creative and full of ideas. What I have found most interesting is that everyone has a different business plan with their sites. No one does it the same. All the members are so encouraging and willing to give advice and share their experiences. I am always learning so much!”

EJS: 7) What is a better bijigity moment: acquiring a great domain name, finishing the development of a great domain name or closing a large deal?

JB: “Just the thought of acquiring a new domain and closing the deal makes me bijigity. I love it!! I never really consider a domain finished in terms of development as it’s continuously changing and updating.”

Frank Schilling: The Real Story

As he always does, Ron Jackson wrote a fantastic story about Frank Schilling and his domain empire. I highly recommend reading this article.

B. King on Three Letter .com Sales

I exchanged messages with King on DN Forum (his forum handle is B. King) after learning about his success selling three letter .com domain names. This type of domain name is one of the fastest appreciating sectors in the domain industry. According to the frequently referenced price guide on 3character.com, the minimum observed prices for this type of name is now $6,000, up from $5,500 just last month, and up consistently over the past few years. While this may not reflect the actual value of all three letter .com names, it can be indicative of the market value for this type of name.

Because of his success with this type of name, I asked King to write about three letter .com domain names and to discuss the recent sale of one of his names, BCF.com.

(Editor’s Note: Although I can’t argue with the numbers, I think people should evaluate why each LLL.com domain name has value before shelling out thousands of dollars for it.)

From King on DN Forum:

“I was asked by Elliot , to write about LLL.com’s in general and in particular about my end user LLL.com sale.

As I am certain most of you are aware that 3 letter .coms are the fastest growing domain investments in this incredible domain market. As we approach the end of year I would like to recap the market – a year ago the minimum price for 3 letter .coms was $3,050 , as of December 1, 2007 the minimum stands at $6,000 , that represents an almost 100% growth. Now some might suggest that this is hollow growth and that LLL.com’s have mostly been doing hot potato between domainers. However I believe that the increase in value has been backed by strong end user sales. While most of these sales go under the radar, the ones that I am aware are as follows:

AMT.com 100,000 Advance Media Technologies

RCS.com 95,000 to RCS International

BCF.com 71,200 to Burlington Coat Factory

HBL.com recently acquired by the largest bank in Pakistan. Upon enquiring with some contacts there, they have indicated that they have paid $100,000 for it (keep in mind this is a bank in a third world country and they still see the value in a $100k domain).

IFP.com to the Institut Français du Pétrole . price is unknown

Since I was the seller of BCF.com, I’ll let you guys in on the incredible auction that went down on Sedo. I had initially listed BCF.com on a popular domain forum and put it up for sale under $20,000. However, desired bids were not reached and I sent the domain in to Sedo auction with a reserve of $20,000. On the third day of the auction in the middle of the night I received a call from a gentleman asking to talk to me. After introducing him self as the head of IT in a large public listed Australian company www.bcf.com.au. He told me that he had heard rumors that BCF.com was up on auction on “EBAY” to which I corrected him and told him that it was auction on Sedo. He offered to buy the domain straight away, but i told him that the reserve on the auction was already met so I was obliged to sell through Sedo only and that he could place his bids there. From that point onwards, I was feeling good about the auction and thought that the auction would go well and would manage to get a few K over reseller value. To my surprise the BCF.com had already entered the $40k range in the last hour of the auction , and after a bidding war the auction ended at $71,200.

At that point I was certain that there was more than 1 end user present at the auction, and indeed that was the case. Burlington Coat Factory had won the auction from www.BCF.com.au. To me this auction goes to show that poular 3 letter .coms are extremely desirable and there is usually more than one end user for them.

At the end of this article , I would like to add that I think LLL.com values will continue to rise at a rapid rate through out 2008 , both in reseller terms and in End User terms. LLL.coms offer a unique opportunity’s as the entry point in LLL.coms is comparatively much lower as compared to generic .coms and yet they are premium and have as much probability of making an end user sale as a generic .com .

Happy Domaining!!!

B.King”

EasternCaribbean.com Available for Acquisition

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I recently announced the acquisition of EasternCaribbean.com. In light of the subsequent acquisition of Lowell.com, I have decided to sell EasternCaribbean.com. I am setting a low Buy It Now price of just $10,000 for EasternCaribbean.com. The value of geographic domain names have been consistently rising, and this is a great name.

There are about 200,000 Google results for “Eastern Caribbean,” and there are many advertisers, which bodes well for development. There are many cruises which tour the Eastern Caribbean hotspots like Barbados, St. Thomas, Puerto Rico, and the Bahamas. Please contact me if you are interested in acquiring this great domain name.

Other names currently for sale include:
TaxCodes.com
WashingtonDoctors.com
WashingtonDoctor.com
LegalClinics.com
LegalClinic.com
LegalWebsite.com

Thank You, Jay!

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A few weeks ago Jay blogged about requesting reinclusion in Google for a domain name.   Recently, I purchased an important domain name even though it wasn’t listed in Google.   I bought the name along with an information-rich website, and following Jay’s advice, I requested that my name be reincluded in Google.

After a few days, I noticed some traffic from Google on the website.   Interested, I did a Google search (as I had done before), and now appearing as the #1 listing is my domain name.   I wasn’t aware that I could ask Google to review my website for reinclusion until I read Jay’s blog, and I would like to publicly thank him for pointing this out.

Domain Investment Business Lesson #1

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The domain investment business is very small, and because of that, most people within the industry know each other well or at least know of each other. Although most people work independently, there are times when working together can benefit all parties.

If I know someone is looking to acquire a particular type of name, I may personally reach out to that person if another acquaintance is selling a similar name. I don’t do it for a commission, rather, it’s out of courtesy to help two acquaintances make a mutually beneficial deal. Likewise, if I see something shady that may impact an acquaintance, I am quick to point it out, also as a courtesy, because I would hope for the same.

In an industry where thousands of dollars can be transfered for a domain name based on a few emails, honesty and trust is the most important thing. This is the most important lesson to heed in the domain business.

I haven’t been in this business for a long time, but I have seen my fair share of things that leave me shaking my head. Some people will do whatever it takes to advance, risking their own financial status and their reputation. Perhaps making an error in judgment once will be forgiven, but if it’s done more than once, others tend to believe it was more than just a simple error.

The domain investment industry can be fun and lucrative. If you are just starting out, remember that there are no shortcuts, and honesty and integrity are two of the most respected (and expected) qualities.