You’ve probably read that I had the pleasure of working with Francois trying to put together a list of domains to sell that we released today. After putting together my first list, I now realize that it’s a tough deal. And I was the one that was stupid enough to ask if I could help. I did it to learn more about putting together an auction or a sales list for the future in which I hope to organize more of these type of events. And learn I did. Here’s what I learned.
1. With a domainer to domainer letter, one of the hardest parts of the process is just getting people to participate and offer names for sale. Nobody likes the thought of selling a name to anyone but an end user. Like most Type A domain investors, they hate the thought of selling to another investor who turns and immediately flips it. In reality, if they would have been able to do it themselves they already would have.
2. There are quite a few people that have bad names but still think they are good. I realize that some people were just trying to get rid of some lesser quality names and that’s understandable, but they countered that thinking by putting a price tag of thousands of dollars.
3. There are a lot of alt tld in people’s portfolios. Some people are still banking on the dot cos.
4. Keeping up with the weekly sales numbers is invaluable with pricing domains and knowing which ones to put at auction. The quality is of no value if the price on it is out of line and the more knowledge you have of that relationship the better chance you have of picking a final list that moves. Easier said than done. Toby Clements probably as good of grasp on this as anyone in the business.
5. Speaking of Toby, there is a reason why sales people try and get the price down. It’s obvious The seller wants it as cheap as possible so he can sell it and make his commission. This is where the seller has to figure out whether the list maker is trying to make it easier to get his commission or you really do have it priced too high.
6. Everyone thinks their domain was better than the ones that were picked.
7. Someone is always going to think they could have done a better job and will criticize.
8. There is a great deal of satisfaction getting a name sold and not just the money. It’s like a game and you get points when you sell something. It’s very fulfilling.
I look forward to trying this again and I would like to thank Francois and Domaining.com for letting me be a part. And to all of you , don’t hate, participate.