In the past I’d go to a few of the domain name forums and check out what was going on. Once you do this for a while you quickly realize a few simple truths about them.
1. The domainers who have good domain names know what they are worth and at a minimum the prices they are asking (or if they ask for bids the prices that they have in their head that they would accept) are at least what they could get for them in a Great Domains auction. Makes sense, not sure why anyone would sell their domain for less then they could get for it at a monthly auction. You’re not going to get any steals from a seasoned domainer.
2. The majority of domains people are trying to sell there are crap. They are hoping that some new guy to the game will come along and buy them. It’s a pain in the ass sorting through the crap.
3. You’ll see a thread that has a good domain name asking a price you’re happily willing to pay. Then you go into the thread where they tell you it is an IDN. Why do you do this? Do you really think once I’m in the thread I’m going to be more likely to buy it? Save everyone time and just put IDN in the title.
4. In the rare event that someone is willing to part ways with a good domain name for a price you like you always have the thought in the back of your mind that the domain might be stolen. By the time you do a quick check on the domain history someone else has already jumped in there and posted “SOLD”.
5. If you want to sell a domain name you only get stingy domainers offering pennies on the dollar for it. I’ve seen domains that would sell at auction for $5,000 and when someone lists it in a forum the opening bid that someone makes is $1. The next guy might “jump” the bid to $25 if he’s feeling crazy. And then you’ll have 5 more ridiculous offers until one of the more seasoned members will jump it up to a grand, and then the offers fizzle out and it does not get sold and you’ll see it at auction a month later.
6. My time is better spent elsewhere. Whether it’s finding and contacting potential end users for my domains, or searching for domains that I want to contact the owners about and see if they’ll sell, or arranging my sock drawer… my time is better spent elsewhere. For all the time it takes you to buy a great domain there, or to sell a domain for a great price there you probably could have done 5-10 transactions in the real world.
7. The great deals are few and far between and there’s people who are scanning the new threads each and every day like it is their job (maybe it is their job) so if you manage to grab one of these it was pure luck that everything was timed up right for you. Most likely these constant scanners will snap up everything almost everytime.
8. If you manage to sell a domain you can’t celebrate yet. There are tons of times when people who post “SOLD” don’t end up paying for the domain. Either they want to send it to you from an unverified Paypal account, or they want you to push the domain to them first, or you set up an Escrow.com transaction and after two weeks it’s still sitting out there because the buyer disappeared.
9. The appraisals section is filled with random figures which rarely make sense and people take it to heart. I’ve seen people say things like “Wow, you got a great deal on that domain paying $5k, it was a steal, it is worth much more then that”. The ironic thing is that the domain was in a public auction so anyone could have bought it for that price. People who CHOSE not to buy it are telling the buyer that it is worth a ton. Really?
10. A number of times a person offers up a domain name for sale and asks for bids. He’ll get bids and after a week he sets a Buy It Now price of 20 times the top bid. Do you really think that is going to sell? And what the hell kind of strategy is that anyways. Again, a waste of time for people to bid or be in that thread. If you have a BIN price just state it up front and stop playing games.