In 2011 the domain name (it wasn’t even a website) www.runningshoes.com sold for £449,550.
Trading domain names or ‘domain name flipping’, as it’s often known, is an business which has made many online entrepreneurs a lot of money over the years.
Has this ship sailed? I don’t think so. Not by a long shot.
You can still pick up a domain name (and by domain name I mean a website address e.g. www.example.com) for a few pounds.
Yet these little plots of land in the digital universe can sell for considerably more…
Bag the right one and it can resell for hundreds of thousands, sometimes even millions of pounds.
In 2010 the world record price paid for a domain name was set when www.sex.com sold for a whopping $13,000,000 (£8,348,780). Whoever said sex sells was erm… right.
But it’s not all sleaze, far from it. Let’s take a look at the five most expensive domain names sold last year:
1. Social.com – £1,669,750
2. DomainName.com – £642,200
3. Aktien.de – £465,600
4. VU.com – £449,550
5. RunningShoes.com – £449,550
And here are the most expensive domain names sold last month…
1. MovingCompany.com – £125,000
2. Skyboard.com – £38,500
3. Goldfields.com – £33,700
4. MobileWorkforce.com- £19,250
5. Cruise.me – £18,300
(I’ve converted these figures to pounds as domains are usually sold in dollars or euros).
Now of course domains like social.com or sex.com were registered years ago (and wouldn’t have been available to us mere mortals). But that’s not what we’re interested in, we’re interested in the names a little further down the list…
… domains like runningshoes.com, movingcompany.com and mobileworkforce.com. If they can go for tens or hundreds of thousands of pounds it goes to show that there’s still a great deal more money to be made from ‘domain name flipping’, especially when it comes to buying and selling two or three word phrases.
How hungry is the marketplace for domain names resales?
Very. It’s hard to put an exact figure on it but there are probably around a thousand domains sold on the resale market every single week. Most will go for tens or hundreds of pounds – others go for considerably more as you’ve just seen.
Now there are a ton of products out there which charge a packet to show you how to do this but I’m going to show you how it works for free.
So how do you do it?
Well, there are 3 core techniques all quite different, some better than others. I’ll cover these in detail in next week’s eZine so keep your eyes peeled.
Desperate to get started? I really recommend waiting until next week’s eZine because I’ll show you how to identify the most profitable types of domains (and avoid the pitfalls).
But if you’re REALLY eager to get started I’ve written a quick article showing you where to pick up domain names cheaply here.
Watch this space…