I sold three domains this week for a total of $2600. Not my best total but the first time I’ve sold three. It was pure coincidence that it fell as the same time I’ve gotten my domain blog up and running, as 2 of these were in auctions and 1 was a private buyer. No it’s not life changing money but it did result in $1200 profit which is nice play money for the next purchase. What is not a coincidence is the fact that reading all these domain blogs has taught me where and when to sell some of my domains. Auctions can be a great way to liquidate. Between Sedo, Bido, and Snapnames I feel I have plenty of resources to auction off some of my names. Another thing that has changed is my ability to take a loss. As a former options trader I know that every once in a while you get caught in a down market and you have to take a loss. You take it in order to prevent further loss or in the domain world, to cash out and put the money to work in a better investment. Of that $2600, two were profitable and one was at a $200 loss. It was easier to take the loss as I had already sold one name at a hefty profit and looked at the three names as a package.
I have always felt that domains are like girls, the ones you really want are already taken. In reality, many of the girls have dropped in value or may not increase in value over the next couple years. Just because they are taken doesn’t indicate that they are worth having. Only the hottest ones are worth keeping. Beauty is in the eye of the beholder so my goal is to seek out the people that think my domains are pretty. I’ll keep the very best ones and try and flip the rest. Time doesn’t make them valuable, demand does.
With that thought in mind, I have started to really concentrate on my niches and liquidating all the other domains. The hard part is not blowing my bankroll and passing on a name that I think can be flipped easily. I’ve always had a problem with money burning a hole in my pocket but somehow this year, the sensation stopped. Maybe it was I turned 40. Maybe I realize I need to build a bankroll to do some of the bigger things I want to do. Maybe the right domain hasn’t come around. In reality, its all three and it’s leading me closer to that goal of a million dollar portfolio/online company. I just got $2600 closer this week