While looking through my Twitter feed this morning, I saw that Alan Dunn posted a link to an article that I bookmarked and will share with people who inquire about my “unused” domain names:
Imagine if this was a great domain name. I can hear “He’s not using the land – it can’t be worth that much.” now… https://t.co/aGuVdIj7r9
— Alan Dunn (@alangdunn) July 21, 2017
For those with limited time, the article is about singer Julio Iglesias listing 4 connected waterfront lots on the Miami Beach island of Indian Creek Village for sale for $150 million. There are no houses or buildings on these undeveloped lots, but the large property would be a fantastic spot to build a huge home with a couple of smaller villas for family and friends. I think this is a perfect illustration of the value of a great undeveloped domain name.
In between the time I saw the article and my wife and I got the kids ready for the day, I received a serendipitous domain name inquiry that illustrates the disconnect for some people. After being offered $35 for SeaLions.com, I replied with my asking price and told the prospect that the domain name is much more valuable than his offer. His response was somewhat typical: “😊 There is only value to the sites it if they are used.” People don’t seem to understand a domain name holds value beyond how it is presently being used, and that way of thinking is a mistake.
I am not really sure what can be done to explain the value proposition to someone who doesn’t understand because many people who inquire about domain names either can’t afford a high value domain name or their budget won’t allow it. I don’t particularly enjoy long email exchanges with unqualified prospects, so I think sending a link to this article about Julio Iglesias will suffice.
I was most likely going to write about Alan Dunn’s tweet even without the inquiry, but the timing was too perfect not to mention it.