Domain Name Flipping is a Suckers Game
I just read an article online about Domain Name Flipping- actually I think I misread it and I’m sure other people have either misread it or gotten the idea to register and buy domain names without developing a website on them. I’m telling anyone who reads this right now that buying domain names without a website on them to resell for a profit is a suckers game especially if your money is limited. I should know, I lost over a $1,000 doing this a few years ago registering more than 100 domain names that I thought were so clever and going to make me easy money. Yes, there are some people who make money domain name flipping - buying domain names and reselling them right away, but they’ve spent years doing this and they have the money to purchase domain names that most of us can’t afford and if they have to sit on them, its not going to severely damper their bank accounts. For the purpose of clarity, I am using the term “domain name flipping” to refer to owning and reselling a domain name only, not owning a domain name with a website on it and reselling.
There really aren’t any single one word domain names with .Com left that haven’t been registered. Same with single word domain names under .Net, .Org, etc. Single word domain names are generally worth a lot of money. The ground floor probably ended 15 years or so ago when it cost hundreds of dollars annually to register a domain name as opposed to the $8 or so it costs annually today to own and register a domain name. I’m sure you can think of many clever two and three word domain names that are available to register and buy but reselling them is another story.
There are plenty of forums and domain websites where you can list your domain names for selling them. That isn’t the problem. The problem is unless you have a top level domain level domain name to sell which is going to cost money chances are you don’t have in the first place, you’re not going to sell them. You may if you’re lucky, resell your domain name at loss. Basically the odds of you making money flipping a domain name that you’ve bought for $8 is like winning the lottery but the lottery pays a lot better. I also wouldn’t take a lot of things you’ve read about people making money selling such and such a domain name literally as while I am sure that some people are telling the truth, there are others who aren’t. Whatever you do, if you see someone getting high bids or sales on Ebay, don’t take them as Gospel as they could be “scam bids” or “scam sales”. I also wouldn’t recommend using Ebay to sell domain names.
Feel free to disregard my advice based on my personal experience. Yes, I bare a grudge. If you somehow can make money domain name flipping more power to you. I sure as hell couldn’t and I regard myself as a pretty intelligent person but should have realized if something looks too good or too easy, it is. If you are going to go ahead anyway and do this, I’d try to find someone experienced who makes a living doing this to advise you. Note that buying a domain name to put an e-commerce website, blog or just a website on it is a whole different manner. You may be interested in reading my article on this blog, “Supplemental Income at Home Blogging and E-Commerce Websites” by clicking here
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