Buying and Selling Domain Names is a profitable and powerful business model to earn money online.
But the question remains: how much profitable it is?
To get a satisfactory answer to that question, I will create a shortlist of some of the biggest domain name sales ever. The amount of profit that the owners of those wonderful domain names made was indeed unbelievable.
You better watch out because you could be one of them.
The very first domain name sale happened a long time ago. Back in the mid-90s, some individuals started buying and selling generic names to make quick money.
These people were doing this business for almost five years before they finally cashed out and formed their own companies.
They began by buying low-cost generic names and then selling them for much higher prices to have higher profits.
If you want to do the same thing, you will have to research carefully which companies offer cheap domains. Several options are available, such as getting expired domains, purchasing end-of-life domains, and even buying and selling global domains.
What is a domain?
A domain is a unique identification string commonly used for address-based access and application-specific naming on the Web.
Domain names are also a part of the informational hierarchy that is the World Wide Web. Domain names also play an important role in Search Engine Optimization (SEO) and link building.
Building a Solid Domain Portfolio
Building a top-notch area portfolio can require months or a long time to achieve. Regularly, the key is anticipating what areas might become famous later on and supporting through numbers by buying many spaces. Others decide to buy a couple of effectively high profile spaces and sit on them, trusting that they appreciate esteem.
- Expired Domains: Some domain traders are also known to buy and sell domains for profit using expired domains. It is really up to you how much you want to invest.
- Generic Domain Names: If you are new in the business, I suggest you start buying several good generic domain names.
- Oddest Names: As you gain experience in the business, you can gradually work your way up to the more expensive and oddest names.
- Trademark Names: These are already registered, and so you don’t have to worry about the difficulty of creating a website using these generic names. This is one of the effective methods used by businessmen to build their reputation in the industry. The disadvantage, though, is that the prices of these domains are more expensive than generic names.
How Domain Flipping Works
When we talk about buying and selling domain names, we should also understand how domain flipping works.
You buy a domain name, register it and then list it to the public for a price much lower than the market value. Then you make money by letting people know that you are the owner. This is how the majority of people make money with domain names.
Another popular way people make money with domain names is through domain registration.
In this case, you pay a fee to register your domain names. Domain registration requires an investment of around $100. There are also instances where some domain registrars offer free domain registration but require you to upgrade your account before registering.
Buying domains can be fun and rewarding. However, it can also be dangerous if you don’t know what you are doing.
Don’t put your life at risk because you want to buy domains. Instead, look for legitimate ways of making money from domain names.
You can choose between buying, leasing, renting, and selling domains.
All you need to do is pick a method that makes sense for you. Many people start by trying to buy domains for free using search engines.
Buying and Selling Domains on eBay
One of the best sources of domain names is eBay. You can buy and sell domain names on eBay with ease.
eBay is the largest auction website globally, so finding domains to buy shouldn’t be difficult.
All you need to do is find out what people are bidding on domain names, and you can knock off your price a little bit. It’s that easy, and it only takes a few minutes to get started.
Selling Domains on Godaddy
Selling your domains on Godaddy can be done very easily, and you do not have to have a lot of experience with web development.
Selling your domains on Godaddy is a big money-making opportunity for those with a flair for selling domain names.
Buying domains from GoDaddy is a great way to buy and sell web properties that will give you income for years to come.
There are many other options available to you if you are interested in making money online. GoDaddy can give you a head start in the online business world.
When you decide to buy out your Godaddy account, you will also keep all of your domains with GoDaddy and use them in your own business.
Buying from GoDaddy is cheaper than buying from other companies, and you will always have your Up domains with you.
This is something you can sell for a profit later down the line. Some people decide to buy expired domain names at Godaddy at the end of their contract, and you can do this too.
One very helpful thing about Godaddy is that they offer a feature called the “Answers” section.
If you need help with something, you can type in a question (like “How do I get my domain name working again?”), and you will find several helpful folks who have the answer you are looking for.
The best thing about Godaddy is that you do not have to pay up-front fees to use their site, and you can use their tutorials to learn how to operate your auction site.
Summary
Buying and selling domain names can be a good business & earn money online if you play your cards right. In addition to buying wisely, you should be patient.
There are plenty of domain name buyers and sellers on the internet, so do your research and find the right one for you.
If you invest part-time in buying domains, you will also learn a lot about the online world.
