How To Make Money Using Domain Names
When you started looking into the internet as a possible way of making money by setting up some kind of online business, doing e-commerce, become involved with online forums or writing blogs it is very likely that you came across the term 'domain names' very often without paying much attention though on their real meaning and capabilities.
Here is an innovative idea for you. There are people out there who have become millionaires by selling or trading domain names. Yes, just simple website names.
Sadly, it is a little late for you to make the most of the low prices of the 80s for some major names, imitating that guy who bought the "pizza" domain name for a few cents a few decades ago and sold it recently for some million dollars. This doesn't mean though that there are no amazing options for you out there. On the contrary, some people still buy and park an amount of domain names and put them back on the market when the demand is high, either in general or for a particular type.
Let's say that you purchase the XXXX name with all possible extensions: .com, .net, .org etc. Since it's available you can purchase it for a few bucks. Tomorrow, you might find a company going by the same name of XXX trying to put up its web site. The domain name that corresponds to the company is sold to you, so what you can do is sell the legal rights for the name to that company for double, triple or even greater amount of money.
Is it as easy as it sounds? Absolutely not, it takes time and also research to find the right bargain. But it's up to you to do it. Here are a few tips for you:
- There are global auctions for domain names which are sold for astronomical prices. Just a couple years ago a lucky man sold the "vista" domain name to guess who for 1.5 million dollars.
- Although most of the .com names have already been sold, the law of expiration works in your favor. You can track down some good ones, get in touch with the owner and purchase them just before or during the expiration time for extremely low prices. Then you can sell for double and have your first big financial triumph. When you purchase for 0.5 what costs 1, you can hardly go broke ever.
- Domain world is about to change soon since the superpowers of the Internet and global economy are already considering ways to avoid the lack of available domain names for sale , trade and use. This pretty much means that a completely new world is about to open and you should be knowledgeable and get your part in it.
Don't feel discouraged by the fact that some other people were faster and already found some niches purchasing as many as they could afford to pay. This game is endless and has room for many more.
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