No two people can have exactly the same domain name over the Web Space!
Going along these lines, this is exactly the reason behind the popularity of this business. Buying and reselling a domain name has been one of the most popular businesses over the web since years. This has been one of the simplest ways that people choose to earn money online.
Domain registration and then reselling it offers vast opportunities for individuals to make money from comparatively much smaller investment. Similar to share trading, many individuals over the web invest in buying domain names at a bare minimal cost and then resell them as per the market demand and trends. Don’t be surprised if someone tells you that the highest price bid for such a resold domain was $16 million US dollars back in 2009. Here’s a list of most expensive and the highest prices paid for domain names.
Well, when it comes to getting into any business it is important to know about its loop-holes and try to fill in those gaps for making it a more profitable venture.
SELLING A DOMAIN NAME
Before even thinking to register a domain name, you must develop the skill of pricing it. Individuals would usually get greedy at-times and go about registering these names without understanding the trends in the industry and incorrectly assuming the price at which it’d be resold. Over-pricing a domain name usually tends to repel the prospective opportunities hence resulting in a lost sale. People with an experience and an understanding about the industry would usually refrain from bargains unless the domain is truly very unique. Therefore, one must understand the true value of a domain name before showcasing it.
Secondly, the value of a domain name also depends upon its extension i.e. .com, .net, .biz etc. A buyer would usually be more interested if a domain is one of the popular tlds. If you have a domain name with a .com extension there are more chances of someone wanting to buy it than a .net, .eu etc. This also correlated to the amount of profit from the sale.
Moreover, there’s more demand for shorter domain names, they ofcourse need to be meaningful though. If the name has a meaning, which can be showcased as a brand and relates to a business niche, then you can expect a good scope of making a profitable selling.
WHO ARE MOST LIKELY TO BUY SUCH DOMAINS?
This is something that requires a bit of search skills. You need to carry out some research and understand the niche market where the domain name could be best utilized. You may either choose to send out a word over the Internet by visiting popular places where you think that your prospective buyers could be found. Well if you have some marketing skills, then it’d be an added advantage.
You may even opt for listing the domain name over a domain auction sites, there you’d find targeted buyers. Googling should help you find a list of such sites. Do a little research about the sites that you’d shortlist and get your domain listed there.
Thereafter the process can be pretty smooth. It’ll depend on your selling expertise for negotiating the best resell price for the domain. You may then rethink of investing some amount from the profit that you’ve made in buying some more domains and repeating all-over again and keep making money!
Similarly, we even offer some really cheap reseller web hosting plans which individuals can signup with an resell web hosting space. You can enquire about this service with our sales representatives over live chat and forums for more information.