Morning Folks!!
Every once in a while “Joe” as in Joe Biden says something that folks may laugh at but are true. Last week he said, “You have to spend money to avoid going bankrupt.”
That was one of the smartest things he has ever said. Another way to say it is “Go for broke.” That really is what you have to do when things are bad. Prime the pump. Make things happen. That is what my posts have been about this year. Don’t pull back. Those that pull back will be swamped.
As I write this I am negotiating more 6 and 7 figure domain deals than any time in 14 years. Offers are flying in. One after another. Real offers. Solid cash deals. Folks know this is the time to make things happen. To change their own destiny. To reach out. While some like Hershey’s are in retreat, others are just coming out of their shell.
Does this mean the recession is over? Hell no!! It just means we have reached a stage I have talked about for quite some time. This is a “Working summer” for most. Folks may get away here and there, but this is a summer where folks will be at their desk. Where they are fighting for survival. Where they are looking at everything that passes their way.
The TRAFFIC auctions in October will be the last time 2 major auctions happen at one show. I predict you will see a blowout. Each auction will do more than $2M. It could rival the biggest ones we have ever had. Why? Timing!! The amount of quality domains will be at an all time high and this may be your last significant chance to buy a premium domain at a down and dirty price. Whatever bargains will be out there this fall will be evaporated by next fall and I would imagine much sooner. This window of opportunity is open, but it will close in the foreseeable future and never open again in this lifetime.
Have a GREAT Day!
Rick Schwartz
crinux
Rick you’re the greatest, the more you piss off the industry, the more the people like you, because you tell the truth like no other. Google, Moniker, Rick Latona, Sedo & others take offence at the constructive criticism, but not you. Keep pumping !
crinux.com
Anunt
I would buy million dollar domains for not $10k, but $100k right now!
But, i do not see anyone selling that cheap…and i have been looking everywhere!
What domains have you bought this year for dirt cheap over 50% off?
Anybody here want to sell me their million dollar domain for $100k…i’ll buy it…or sell me their $100k domain for $10k…i’ll take it…nobody wants to sell that cheap especially not premium domains…good premium domain names are holding their value pretty good.
All i see is people are getting rid of their junk domain names for dirt cheap…nobody wants to sell their premium domain names for dirt cheap…good domains always end up with high bids…and thats not a discount!
UFO
Agree with Aunt, long time since I’ve seen any domains worthy of buying. Expectations are far too high.
I doubt we’ll see any domains like the ones that have sold for a million or more, closing out in an auction for 10k.
Bruce Tedeschi
Rick, since we are a global economy and tied to other monetary systems for our debt and exports, this logic should also work for .co.uk, cctlds etc. I would imagine you are investing in those as well?
Jamie Parks
Inspirational as always Rick.
@Bruce u hit the nail twice on the head.
Chris Desouza
The problem with what Anunt said was, investors give auto credit to the quality of domains included in the Auctions. The metrics that would normally apply outside of it is taken away.
There are some average names sold for silly prices at auctions. You’d have to be blind not to see it.
Michael Toth
I own unitedkingdom.co.uk, canada.co.uk and others. Would I sell them at a low figure? Well the simple answer to that is NO. I think as people loose jobs with their packages they are thinking about setting up and doing it themselves. I have had more requests for domain names than ever before, Although only a few have ended up in actual sales, as i have not reduced my prices. I would rather sell 1 for 100k than 10 for 10k each.
Anthony Rietema
I ran across this site in my research for the new gTLD’s going to get released from ICANN Q4 of 2010. http://www.nextwebboom.com
It is an alert service for getting your .anything name when it becomes available next year. I of course snatched a few up for only $8.99 each. Curious on your thoughts.