This past October, Lov.com sold for a whopping $91,800. Coin.org went for $75,000. RookiePoker.com went for $20,000. There is a whole business of buying and selling domain names for profit that’s existed ever since the first official registrar company opened its doors. Instead of letting domain names expire, domain name owners attempt to sell their domain names on domain auction sites like flippa.com.
But, will you really get your money’s worth for selling your domain name?
Web.com reports domain name resales have been, in their words, “softening.” The primary reason for this is the enormous list of new domain name TLDs that have been introduced over the past years. TLDs or … are the letters after the period in a domain name, such as .com and .org.
Since availability of domain names that contain useful and strategic keywords has become scarce over the years, new TLDs have been launched to encourage more purchases. Now you can buy vanity TLDs that are related closely to your business like .boutique, .pizza, and .careers.
Instead of investors and owners of bigger companies with big budgets going after 3-digit .com TLDs, now the trend seems to be buying up all the vanity TLDs a person can get their hands on. The hope is that some company will come along and make a big dollar offer.
My point is in two parts.
- Hold on to your .com and .org domain names. They will go up in value someday even though the resale market appears to be a bit soft right now for the big dollar .com domains and .org.
- Register domain names with your name and your business name in as many vanity TLDs that make sense and that you can afford. Protect yourself against competitors or people trying to sabotage your business. But also know that by purchasing domain names, you are buying more real estate on the web. And, that’s an investment that can pay off big down the road.
Last week, I wrote about buying domains for baby. This week, I’m emphasizing domain names for your business. Soon I’ll write a blog post about the importance of registering domain names to point to specific products or services you offer. Accumulating in upwards of 20, 50 or even 100 domain names is becoming more and more common so watch your budget and register domains for as many years as you can afford to get the best pricing.