So you’ve decided it’s time to sell your domain name. Before pricing your domain name you need to analyze the search results on search engines and determine if the price you want for your domain name is the right asking price for the End User you’re about to contact.
It’s easy to price any domain name for $1 Million Dollars, but it’s not easy to sell a domain name for $1 Million Dollar when your domain name is only worth at most $500 U.S.D!
Domain Name Investors are all Unique in their own way. I’ve met Domainers who started in the early nighties and I’ve met Domainers who started several months ago.
Buying and Selling Domain Names is a high risk investment if you don’t know what you’re doing. You could easily lose a lot of cash or make a lot of cash. Expired Dot Com’s are the single most important investment choice/option we have as Domainers. Based on how much money you’re willing to spend on a single domain name you’re going to have to be very cautious on how you price it! Because you could easily turn away a potential End User! And believe me once they get turned off it’s very hard to get them back to the negotiation table.
Pricing a domain name you only paid $25 dollars at $5000 is not a good start in my opinion. If you’re fetching for a big profit then don’t price it at all! Leave it at, MAKE AN OFFER! But, if you want to make a quick profit then you need to research and analyze your End User Market!
I mentioned in my article yesterday that majority of End Users are Small Businesses and they don’t spend over $500 U.S.D on a domain name often from my experience.
What is a small business?
- Local Printing Company
- Local Wedding Photographer
- Local Family Dentist
- Local Small Law Firm
- Local Music Coach
- And on…….
Depending on the size of the business you’re targeting, it will give you a good idea on how to price your domain name. Think about it for a second! How often do you see a Local Family Dentist pay $5000 for a domain name? In Hollywood, maybe! But in Foxboro, Massachusetts, NO! Like majority of communities across America and Canada you’re domain name pricing is affected by how many local businesses have developed websites and how many of them would benefit from purchasing your domain name.
Analyzing the End Users your targeting will make the process of selling it much quicker than trying to sit on it and expect an amount that may never come!
Be smart about your Domain Name Pricing, study your End User and get it right with first contact!
Educating our industry on Domain Name Pricing will produce more successful Domainers in my opinion. I hope this domain name pricing article gives you an idea on how to price your domain names.
Until my next Domain Name Investment Article, Happy Domaining!