Another nice day for auctions. Even better that it’s on the weekend when it seems there are a few less people bidding. In the world of domains it’s pretty much impossible to control how big a buyer’s wallet is and know for sure what kind of budget a future buyer will have. However the one thing you do have full control over is your own wallet. Just as important as making sure you buy quality re-sellable domains, is that you buy them at a low enough price that the few you buy each year will at least cover the costs of renewals of the ones you don’t sell.
I personally don’t agree with most big name domainers telling you to buy the best domains you can. Saying just that leaves out one of the biggest parts of not just the domaining business, but every business. You need to buy your inventory at a low enough price so that you can eventually make some profit. The difference in the world of domains, is that even the portfolios with the best domains priced reasonably, will still only sell a small fraction of their portfolio .. as such you need to buy low enough so that for the domains you do buy, you’ll get a significant profit/multiple. The basic concept of buy low and sell is more important in the world of domains than just about any other business in the world.
What’s good about buying domains at auction on the weekend, is that with less people bidding, your acquisition prices can often be lower. Certainly not always, as in the end it just takes one other person who really wants the same domain(s) as you to drive up the price. But with less people online, your chances are certainly better to find something cheaper on Sunday than you would the same domain if it went to auction on a Wednesday.
Never buy any domain .. even the very best domains, unless the price is right! That being said .. the difficult part is figuring out what that right price is!? lol .. But that’s a significantly longer and more complex discussion! 😉
Anyhow .. have a great weekend everyone!
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