I was going to upload the article tonight..
This was the first time I offered domain name strategies..
As you can see on my site, I have coached many and have written hundreds of mini articles on all manner of selling topics..
OK, I will tell you here what I know about selling domain names.. There are some really good techniques.. Nothing to make your rich, but something that will get you good profit..
BASICALLY, I have found a couple techniques and I apply the different techniques depending on the domain name. Here they are. The below assumes you have solid domain names. I can tell you in another email how to make sure you have bought solid domain names.. This email here, though, is how to sell them:
DOMAIN STYLE (1)
If you have a killer domain name, namely one that has very good, short, catch phrase, you should do this:
A. Look at eBay's history of completed items and do a search on domain names that are on the same topic.. For instance, I will use a recent domain name of mine that is selling: www.DrSUV.com
. I did a search on eBay's completed item history and noticed someone sold www.MrSUV.com
for about $200 bucks.. As a result, I knew I had a killer domain name.. Since Dr is not as good as Mr, I just put the price at about $150 and the minimum bid at HALF of the buy it now..
I have found that putting the minimum bid at HALF of the buy it now, it builds up the value in the customers mind.. So, the formula is:
killer domain name + Buy It Now at
Max Value + Minimum bid at half max = solid auction.
I did not sell it the first time or even second time I listed it, but on the third time, I got someone who wanted it.
So, if you have a short, solid, domain name and it is a popular buy in eBay's history of completed items, you want to put the buy it now at about what others related sold for in the past..
For this one, there was not a high demand.. I got someone to buy it and is pending to pay me.. He will pay the minimum bid.. $59.95..
EXAMPLE AUCTIONS THAT FIT THIS MOLD:
DOMAIN STYLE (2)
OK, now if you have a good domain name, but it isn't killer, or you thought it was killer, but never sells, THEN, you try this method
Basically, with this method, the trick is to charge a transfer fee and have the price low. You tell them there is a transfer fee within the auction.. I made mine conditional.
So, an example would be to have the price at $4.99 and the transfer fee at $12.95, unless the bid goes over say $30.
So, if it goes up to $10.50, you still charge the $12.95 transfer fee.
I found that some might not notice the transfer fee, but interestingly, virtually all of them pay it in the end..
Why? Because what is occurring is these people really like the domain name, but they want to get it really really cheap.. They bid on your auction, but they are the only bidder. As a result, it never reaches their max bid. Maybe their max bid is $30 bucks, but since they only want it, it ends
at $4.95. So, obviously, its worth more than $4.95 in their mind and when they find there is a $12.95 transfer fee, they still pay anyways.
So the formula:
low bid price + transfer fee + solid domain = solid sales (half the auctions sell).
So, every other one sells and you just relist the ones that don't sell and likely they will sell the second time..
DOMAIN STYLE (3)
There is a VERY rare circumstance, where you might get the ultimate domain name.. Something that maybe a companies type domain name or maybe a very short one that sounds cool. Maybe a three letter one that represents many companies or could, etc..
In this case, it is wise to just throw it in your store, let it sit at a high price and let people make you offers..
Of course, this doesn't mean be an idiot like some on eBay that put half a million on a domain name.
The fact is a domain name is digital and these people make the mistake of thinking a digital item is like a physical item. The point is that they could get some similar domain name maybe for a few thousand, so why would they pay you a million? Do you see what I mean?
So they are paying for your skill, luck, etc in finding that great domain name. So a good high price maybe a thousand dollars..
SOME OTHER GREAT TIPS:
I noticed that almost all of the top sellers of domain names have one major thing in common. They use silly pictures that are very colorful as the icon that displays in the search results. Often they are humorous, goofy, looking.. Or they are big red letters if you can't make it
Those who have colorful, funny looking, cartoonish, humorous icons graphics that show up in the searches usually sell their domain names for about twice or THREE times as much as someone who doesn't have any pictures or some normal picture.
I think the funny, colorful pictures make people think about the domain name and gets them to connect with it.. Thats how it makes a better sale..
In other words, they are made tangible and relatable when you put such pictures..
THERE are many other tips, but this is a good start..
just won oen of your eBay auctions for personal coaching. What really
caught my eye in your listing were the domain name auction strategies. That's
what I would like to sell on eBay. I actually have one auction running at this
time, unfortunately, I haven't gotten any bids. So, where on your website can I
find that section. I looked around, but I didn't see it. So, what is my first
step in selling these domains?
Thank you and I really appreciate the time you are going to take to work with