How to Make Money by Buying and Selling Domains

A domain name is the identity of any online business. This explains why people pay huge amounts just to get the right domain. There are many domains that are being bought and sold every day. Hence, this is a lucrative business. The following is a guide on how you can make money by buying and selling domains.

Buying a domain

It is important that you build a worthy portfolio. Commonly, traders buy thousands of domain names in a go. The logic behind this is that you may find just one or two domains that may produce a large profit. This, in turn, requires a huge investment. However, as a beginner, it is essential to start with a few good domains and while gradually building your portfolio. It is important that you focus on timely domain names, business names, generic names, and geographical names. Timely domain names refer to domain names pointing to a specific event. Business names refer to professions. Geographical names refer to places and countries. You can make a huge profit from new and emerging cities. Generic names refer to a service or product. This is also essential for new and emerging product on the market. Combining these four in your search for a good domain name will go a long way in fetching good money for you.

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Where to buy domain names

There are a lot of places to buy domain names. You can get domain names through direct buys, expired domains, auctions and by registering new domains. Some websites like Godaddy offer auctions where you can bid for domains. Namecheap and GoDaddy are good sites where you can register new domains that are available. You can also buy domains directly from the owners by contacting them and making an offer. There are a lot of tools available online for finding and buying some good auctioned domains.

Selling domain names

The first step towards selling your domain name involves setting your price. This is the Modulus Operandi for sellers of domain names. This is necessary if there is no pressing need to get rid of the domain name. If you believe the domain name attracts a lot of interest, you can put it up for auction. This is the best way to get a good price for your domain name. Some of the best places where you can sell your domain names are eBay, Flippa, Aftermarket etc.

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