Morning Folks!! I posted this over atTheDomainsand decided I need to post it here and perhaps expand on it a bit. I will get some folks upset. Not my intention. Just my absolute view of things. You are free to disagree. Most do. Nothing new or unexpected. So I can tell you what you want to hear or I can tell it the way I see it. Those that know me also know I have little choice other than to tell it the way I see it as opposed to blowing smoke up your ass. One has value and one does not. Since 2007 I have bought only a handful of domains. Good ones were hard to find and overpriced considering the sales were to other domainers and not to end users. Some don't get the difference and the prices for the audience were just not in line with reality. But now times have changed. There is a bumper crop of really good domains at prices that are much lower than the previous period. Now don't get confused between overpriced domains and a falling market. The market is not falling, just realistic prices are in play and those prices continue to rise. A great domain will be a great domain and will outlive everyone reading this today. Crap will be crap forever and that is what motivates me to write. Lots of new blood off on the wrong track. The truth produces anger. I just believe everyone involved in domaining should make big money because it is laying there to be made. It saddens me when I hear folks are in trouble and they can't make ends meet. It is never too late to start over. It is never to late to get it right. Next time never happens so may as well do it today and make it this time. Forget about what you thought you knew yesterday. Per chance, you may have been wrong. Especially if you are not earning at least 6 figures from the jump in domaining. Don't blow your opportunity for another day. This really is your last best chance. Weakness and circumstance make great assets surface. There are a lot of assets to invest in. Never has there been an asset priced so low that went up so fast and maintained that value. This opportunity in domains was open to every living and breathing person on earth and 99.9% missed it. I have asked one question now for a decade. Can anyone name me an investment that was available to all and went up faster than domain names in value other than a lottery ticket?? Gold?? Took thousands of years to get to $1000 an ounce. Diamonds? Real Estate? Like anything else, domains are a market. Markets go up and markets go down. But the foundation for premium dotcom domain names is more solid than any other single investment on planet earth. I always qualify what I say with “Premium” and “dotcom”. I do admit that there is a significant amount of the industry that is tulip based. Means domains with no value are trading at prices that don’t justify it. But that happens in every sector. The domain industry is still very young and not yet matured. That takes time to fix. Only time can fix that. And it will. But I go around all day looking where I can put cash to work. 1% or 2% at the bank ain’t gonna cut it. Real Estate is wonderful but it comes with taxes and maintenance. Not very portable. Gold? Very heavy. Hard to secure. Difficult to travel with. Stocks? I have made a small fortune in the stock market. But it is no longer for the long term. It’s a day casino at best. You can make lots of $$$. No question. But again, what do you do with those $$$ once you accumulate them? My answer for the last 15 years has been to buy great domain names and that seems to be more solid than anything I have ever been involved with. Just don’t buy garbage. I see investment quality domains laying around for $500, $1000, $2000 and I see domains with little or no value fetch much more. That’s what makes the world go round and the way I see it, domains and domaining have never been hotter. More shows, more auctions, more large companies getting larger. A guy could come into domaining today with a few thousand bucks and within a couple years time could be worth millions. Unfortunately for so many of the newer folks coming into the industry, they buy before they learn. Before they understand. Not knowing that the first domains you buy are THE most important domains. That sets your course and that is where most mistakes occur. A place where folks can't afford to make that mistake. That and not being patient. Not understanding that sometimes doing nothing will make you more money than doing something and screwing it up because of the need you feel and can't control. There are great values out there. There is a tremendous amount of shit out there. The prices are similar. Pigeons eat shit, eagles methodically swoop over their prey. Both are birds. Are all folks that call themselves 'Domainers' actually 'Domainers'? See, this is where I get in trouble. Because I can't help but to mention it in an effort for many to realize that it is the same effort, the same dollars, the same time to find great domains as opposed to crap. It's worth taking the time to learn. Learn the rules that worked 10 years ago still work today because those rules worked 20 years ago, 50 years ago, 100 years ago and they will work in 100 years from now. In most business you buy something for $10 and sell it for $20, $30, maybe $50 or $100. Things have shelf lives and your job is to move it fast. Great domains are like fine wines, the longer you hold them, the better they get. It is an appreciating asset when you buy right and buy the right domain. An appreciating asset that can be expanded on, built on, developed. And done on your own time table at the right time as things unfold in reality and not calendar based. There are two types of domainers. Ones that hold assets and ones that hold liabilities. The asset class has only grown marginally in the past few years. However the liability class is growing faster and much more furiously. Plus, here is a post from a DECADE ago.This post was dug up by Owen and posted today. 5/4/2010. It was originally posted by me in 1998.
Have a GREAT Day!
Rick Schwartz
PS: Here is yourstarting point of your new life. It's a compass. Don't ask how, it is all spelled out. Both of these posts should be linked everywhere. I leave this for last because MOST will never read this far. They are too busy rushing off to another failure.
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