Morning Folks!!
So as I told you last month I finally made a list of all my domain name purchases from 1996 until today. I got some amazing deals. Some are hard to believe. But when you sell diamonds for a living and know nothing about diamonds or their characteristics, quality or rarity, that is a problem that plagues many in the domain name world. Some just have a 'Circumstance' that forces a sale at very low prices.
This is the story of a very cheap domain. Actually the CHEAPEST domain name of domains with substance. Yes, by now you may have guessed it is Cheapest.com. But that is only the half of it. The $62 price tag on Cheapest.com makes it one of the Cheapest dot com domains I bought from a third party.
I am sure the seller was a happy camper. Probably quadrupled his money! But domaining is much more than 'Markup'. Had the seller understood he was dealing with 'Diamonds' and taken the time to examine it, he would have realized that domain had great value. Instead of selling me a domain, he sold me an oil well.
Have a GREAT Day!
Rick Schwartz
comparedeal
really he has not sold one oil well but he has said all oil well belong to you. really its a very cheap deal. congrats for deal.
Peter Wilkinson
Hi Rick,
Amazing deal, what do you actually value the domain at now? It really could not be a better time to have such a name with the credit crisis and almost everyone looking for a better deal.
I have several domains for sale, currently on eBay, and feel I have the pricing set up correctly.
Any comments and advice gratefully received.
All the Best, Peter…
rmg
In which year?
Rick Schwartz
2002
Scott Alliy
buy low sell high sounds like prudent advice.
Been reading the tech blogs and the world is falling for domain types. Both the tech rags and the fear mongers are wrong of course but for any domainers who are not monetizing traffic and not making end user sales currently it is enough to drive them to the cancel reg button.
Bad for them good for those of us who understand that despite the crash and multiple apps programs and websites that were / are sure to doom domains they and we are still here.
in the end it doesn’t matter how they get there folks still have to go to a web address aka domain name.
BTW we have zero social media accounts or involvement and we do pretty well despite that thanks to a good domain name and good business idea. We educate when we can and wait for other business owners to learn what we already know about the value of a website built on a great domain name.
Puranjay
Wow Rick, that is one hell of a steal at $62.
Funny thing is, the people complaining that things were good in 2002 probably overlooked when names like CloudServers.com or HDTablet.com, TabletPC.com were up for a little more than reg fee a few years back.
While dictionary dot coms will always remain valuable, there are dozens of trends that can be exploited for mega bucks, even in 2012.
Altaf
Hi Rick,
It is nice to hear how do you organize and keep control of all your domains. Certainly, you must have got an account manager or e-real estate manager to assist you to do internal control,check drop list,renew or new daily lists to add to archive.Manage income sources, whether payments are coming in on time. Any PPC/Parking co. deprives from the right % due to you. etc.etc. So many issues!!
Gratefully,
Davinderpal Bhatia
OMG !!! This is insane !!!
Good for you Rick.
I once purchased a domain for $300 which I would not sell the next day for $3000.
But what you got is really the Cheapest.
Dave Bhatia
http://dnasequencing.com/
Geoff
Hey Rick,
Sounds like you got your self an absolute steal on that domain name!
Often is the case that those who own a domain name and do little with it fail to recognise the value the domain name has if it was to be used in a different industry or business.
Goran Duskic
I wish I could read the discussion between buyer and the seller on that transaction. Each time I ask for a domain name, I get a ridiculously high quote! :D Nice catch Rick!