These are the words I told Jamie Zoch yesterday when he let me know that Sello was purchased by Shopify. In short, I could care less. My main reasoning? Its not my name any more and if I don’t get any money out of it, then it no longer effects me. Two, I could give you a list of 50 names that sold for more after I sold them. Pretty much every name that wasn’t sold to an end user. To me it shows the names I purchased are good dot coms. Because good dot coms should go up in value with time.
If the future of dot com is what I predict it to be then basically every domain I sell should be worth more than what I sold it for. The longer period of time since I sold it for, the more it should be worth. The determinate in my business model that I often talk of , is lack of outside funding. It means that every domain I buy HAS to be funded by income generated from domain investing. I haven’t taken one dollar from any other source. Only blogging, websites, or selling names. That is what determines what I can buy. When the money is spent, I can not buy anything until more income appears. It is also the reason why I will sell a name at a smaller profit than some others would. I need to generate income to buy more names, better names. If I didn’t follow that practice I couldn’t have purchased those names that people said I sold too cheap. Kind of ironic. As for sello.com. I put a reserve at $4K at Namejet and unfortunately it was hit at exactly that. Not a great profit but 20-30% in a pretty short period of time. Only in domain investing is 33% in a year bad. A lot of people say now that the name is worth five figures easily. If that’s true and easy call then why didn’t any of you fuckers buy the name when I had it at auction? 🙂
We all could look in our rearview mirrors and see how cheap we sold some our names in the past. I kidded Elliot that the most valuable name he ever had and ever will have, is probably the NNN.com he sold that had some eights. A name that probably is worth $150K now and liquid at that price. (he didn’t agree, not on the value but that it was his most valuable name). But there is no point in dwelling on that. If a person sold a name at a profit then they did fine. Leaving money on the table happens and its human nature for those to judge your sale. It would be nice to sit and wait for the best sale price down the road like Rick Schwartz but not everyone has that luxury. Some of us have to keep moving and turning.
You guys are going to get a peek at my portfolio in a few weeks on DomainSherpa. To some it is going to be good, some it will be bad. But all names were purchased with zero dollars down. All money created through domain investing and talking about it. And with that in mind, I’m proud of it. I never look back at what I sold, I look at all the great things I’ve done, built, and bought, because of my sales. Once those domains leave my hands they are dead to me. They are another person’s assets to try and make money. My old portfolio had a lot of numerics and short names. But those are gone and now I have a flush bank account and a couple of bigger names. I sold those for roughly $40K but had I waited an extra year or two could have been worth $150K. I had a great return on the $40K and preferred the cash in hand. It gave me security, the ability to buy more names. To travel and buy a few things. And its those sales from the past that have led to my bright future. To worry about how I could have done better would tarnish what I’ve accomplished and where I’m headed.