Tuesday, March 4, 2014

Miracle on DN Street

Good news, no one!

Back in this post I lamented about speculating in the domain name market, and then got a premium offer in January on a dn that I snapped up in April of 2013 with no history of traffic, but a ton of potential value imo. I negotiated for 33% more than the original offer and the buyer agreed. Then a month passed with no sign of the buyer paying up...until Saturday, March 1 when I got a "payment received" message from Sedo.

I was just getting ready to ask the transfer agent what my recourse was against a non-paying bidder\inquirer (dn was not up for auction), and was thinking what a cruel joke someone had played.

I pushed the domain as instructed on Monday and the agreed upon amount was credited to my bank account today in what feels like a miracle, though is probably just another of many transactions in the market.

After binge-buying $1000+ of names that sounded good at the time, I had resigned myself to the fate of a n00b domainer who would not be willing to reregister them every year indefinitely. What I should have done is buy the best of what I found available, then invest in a somewhat premium dn that would cost me beans to rereg every year.

Mistakes made, and lessons learned, but this little venture has netted me close to 300% profit and is nearly four times the amount of any tournament score I've had. Unbelievable. I'm pretty sure I'm in the minority of domainers who get a $,$$$ offer on their first sale, and I am extremely grateful for the luck of the draw. I don't expect it to happen again any time soon though, and will stick with my plan of trying to sell off most of the portfolio and cutting those losses to avoid grinding up gains.

I prefer not to list the domain name here, but it is listed in Sedo's recent sales today and shouldn't be too hard to figure out from the context of my blog. ;-) I hope the buyer does something great with it.

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