Want to know how to make money online by selling domain names?
I'm going to show you here exactly how I do it, step-by-step.
There is a lot of money to be made selling domains (many domains can sell for 4 or 5 figure amounts, and some sell for 6 figures!). In my experience you need to take the long-term view to make the larger sums.
It can take many months or years to sell a good domain for a decent price.
I think of it like buying an investment property.
You just buy it and then hang on to it, knowing that you will sell it one day for a profit (well, with property you never know but the overall trend is always upwards over the long-term).
How to sell domain names quickly?
You could simply buy and sell domains with a quick turnaround by aiming for a sale price of $50 - $250 say, rather than going for the big amounts.
Obviously if you set your price low, you will get a sale faster. It’s just common sense. But, if it’s a quality domain (more about this shortly) how would you feel if you see it re-sold months later for 10 times what you got for it?
You can buy a domain name through companies like GoDaddy, 1&1 and many more.
You can pay about £1.99 for a .co.uk domain and around £8.99 for a dot com.
One domain I bought like this sold for 1000 Euros. It took about 18 months so I had to renew the domain once in that time. You can do the maths, it was a great profit for doing very little.
How to sell domain names with no risk?
I sell my domains through Sedo. They act like an agent really, and take a commission when your domain sells. They list your domain for sale on their site for free. You can choose to promote it on their site in various ways, which you pay for.
They take care of getting the payment from the client which is a big bonus and help with the transfer of the domain. So, at some point you may get an offer for your domain. You choose whether to accept or reject it. You also have the option now of putting your domain into an auction once it has had an offer.
Here’s an example:
You receive an offer of $100 for your domain. You can then immediately put it into auction (you need to act fast as this option is only available for a short time after you get an offer). The offer you had of $100 then becomes the reserve – so you can’t lose. You are going to get that $100 from the original buyer if you get no auction bids over the coming week. It’s exciting watching what happens, and even better cashing the check!
How to sell domain names like the pros.
If you want to see what domain names have sold for recently, go to www.dnjournal.com and scroll to the bottom of the page. Click on ‘recent sales’ and prepare to be amazed! You’ll probably see domains that sold in the last month for tens of thousands and maybe hundreds of thousands.
I tried selling domains on eBay, and this may be a good route if you want to have a fast turnaround on lower price domains, but beware that people may bid on your domain then vanish when it comes time to pay – don’t get excited until the payment is made.
What’s a quality domain?
Well, you need to do your own research on Sedo and DN Journal and elsewhere as I’m not the expert, but generally dot coms are the most valued domains. A domain name that is short and simple, that also tells you what the product is (and the product is a commercial product): Like www.cars.com or www.creditcard.com are the very best - and almost impossible to find as people have got wise to these type of domains.
However you’ll see on dnjournal.com that many other kind of domains go for great prices too. Make sure you don’t violate trademarks when you buy a domain. For example if you tried to buy a domain with the name ebay in it you’d run into problems.
What’s the catch? Buying and selling domains names has become incredibly competitive. It’s hard to buy quality domains for a low amount, or even find any at all. However it is possible to find expired domains– you may get lucky. Beware of software that promises to show you all the expired domain names. It doesn’t always give the results it promises.
For me, buying and selling domains is an interesting sideline and any income I make is a bonus. I hope you've found this information on how to sell domain names useful. If you want to try it yourself do plenty of research before you spend much on buying domains or you could waste your money. Best of luck!