What is Buying and Selling Domain Names?
Domain names are the human readable website addresses that you type in the browser to go to a websites numerical IP address.
Example: Google.com, just-eat.com
All domain names have a commercial value, and that value can grow in time depending on the future demand or the arrival of a new market.
Who’s it For?
- Anyone, literally anyone
- Anyone who can spot good niches
- Anyone who understands market trends
- Anyone who wants to make huge margins
Skills
- No technical skills needed
- Good trend spotting skills will help
- Ability to research niches can help
Start Up
Rapid and cheap. Register with a domain registrar for free and new domains cost just a few dollars/pounds/euros.
Spend some time researching to find unregistered domain names that can have some commercial value.
How You Make Your Income
Once you’ve registered a domain you need to list it for sale on sites like Flippa.com, sedo.com, or Godaddy auctions. Depending on the commercial value that you’ve spotted the profits can be big. You can also go out looking for potential buyers in a chosen field to drum up some commercial interest and begin a bidding war.
The most expensive publicly reported domain purchase is currently CarInsurance.com which sold for $49.7 million in 2010. Maybe we should all start insurance companies if they can spend that much for a domain name.
We wouldn’t expect you to hit a target like that, but technologies and markets are emerging all the time. Just imagine if you had found a niche domain in zero-carbon before it became a trendy term.
So, the sky’s the limit…over to you.
