I’ve been thinking about the point Drew made on the last Sherpa Review about the need to set the price extra high on a portfolio of sub par or average names, so that you can cover your costs in the event someone really likes one of said names and buys it. While I agree in principle with this concept, it needs to be looked at in a dynamic context.
What I mean is, that unless you bought all 2000 shitty names at the same time you’re not dealing with a static environment. I don’t think anyone starting out should buy 2000 names right off the bat, rather fine tune their buying and selling skills incrementally. As profits roll in from names priced to sell you can bootstrap that money into more names.
Obviously there are many factors, with the main wild card being the timing. The crappiest name in the world will sell if the right person comes along at the right time and likes it.
To illustrate my point, you buy 100 names over the course of a few days or weeks. Probably hand catching them off the drops for let’s say $10 to make it easy, or maybe you buy some in Godaddy Closeouts for $20. In any case your investment over this time period is between $1k and $2k. Reasonably pricing your names that you picked up cheap maybe around $999 or less and listing them every where you can, will help you move the names. If you aren’t selling any after several months, revisit the prices, make sure they’re listed appropriately and reevaluate the quality of your names.
If after several months of practice and learning you realize your names suck, set them on fire. Change the listings to $99 or less and home that someone adds it to their cart by accident. $99 on a $10 purchase is still a nice profit.
In the beginning you want momentum, that’s why I like buying cheap and selling cheap. Not only does it keep you engaged in the process, it helps you learn what to buy and what not to buy. You’ll get better at finding salable domains, you’ll learn what price points work.
One thing that’s often talked about is the holding costs, looking at the 10 year hold price of your names and calculating your expenses. The great thing with paying $20 or less for a domain is that you can trade it in for a better name rather than renewing it.
My problem with the advice to buy a $500 or a $1000 name to start, is that you have no idea what the hell a $500 or $1000 name even looks like, plus it takes you out of the game. If you spend your $1 to $2 K budget on 2 or 3 names I don’t think you’ll learn as much about the industry as you would getting in the trenches and mining decent names that will sell. This business really isn’t rocket science, but it takes practice, fine tuning and more practice. Skills can be developed and eventually turned into “muscle memory” but only if you want them to.
So in conclusion, don’t blow all your money on 2000 names that you’ll regret buying in a year, and don’t buy 2 or 3 expensive names when starting out. (unless someone that knows what they’re doing says “You have to buy this name, it’s the best deal ever”) But rather take the time to experiment and learn, take the earnings and roll them into more names and better names. Don’t buy any more names until you sell some. If you don’t sell any reevaluate your whole process, and price the names to sell especially in the beginning so that you can build momentum. This has been my approach and experience so keep that in mind, maybe something else will work better for you.
One of my favorite no bid names of the day is: GrowSmith.com two syllables, and I like the word smith, implying creator or even artist.
- Main List NameJet Flippa/Sedo
- LLLL.com’s LLL, CCC, 5L Other LLLL’s
- Short Brandables Numbers One Worders Vape, Vegan, VR
- Snap Names/Dropcatch NamePros Godaddy Value BIN
The No Bid List
ArtisticPulse.com A blog for artist, pulse makes be think of vital signs, if the patient healthy? Is something wrong? Basically what’s going on.
AutoProtectant.com A product that keeps your car shiny and scratch free
BackyardWinery.com A home brew system
CleanWax.com Clean the wax out of your ears
CreditTalent.com A credit help service that knows how to get you the best deal
DownSick.com Not getting any work done today because your down sick.
DrBots.com A robot doctor, or a doctor for robots
DrFossil.com A geologist email, or paleontologist? you get the idea, whomever looks at fossils
EveryScoop.com A news and gossip site
EvilGuide.com Need help being Evil?
FedEmployee.com Federal Employee’s
FinanceOlogist.com A person that studies Financeology.
FixHistory.com Get a time machine and fix your past. Really funny Joe Rogan stand up bit on time machines. Look it up.
FlagMemorial.com Sell flags for cemeteries
GrowSmith.com I really like “smith” names, makes a great Canna biz name I think
LogFusion.com A name for log home builders
OriginalMember.com Makes me thing of SOA, Original 9
PromoteRealty.com A marketing name for Real estate
TrendsOfToday.com I’m going to bed, it’s 04:11, make up whatever you want for the rest.
More Names With No Bids About 130 more
Your LLLL.coms of The Day
LLL’s, CCC’s, 5L’s
MORE Short Brand Dot Coms HERE
Have a name at auction and need more exposure? Send me an email. We Charge $10 per name per day. We may be able to help. If you have an auction you want to promote, email us for details.*All names chosen by us, Shane and Josh . (ie you click through and purchase a name you like) or an occasional paid listing. Everything we say is based on our own research or is opinion. Do your own due diligence. That means look it up yourself if you don’t think the stats or our opinion is correct. We hand choose the names but we are paid to make this list by both the auction houses, individuals that are auctioning names, and Godaddy affiliate links. Keep that in mind and only buy names that YOU think are good