You may have an idea about how the stock market works. It’s 80% about speculation – educated speculation, that is. It’s a matter of predicting which companies will perform well, and which stocks would rise in value. It’s a matter of selling when it’s hot, and buying when it’s not.
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The same principles apply with domain names.
Indeed, you could earn from registering, and eventually selling, domain names. How much? Some domain names sell for $2,000 to $5,000. The domain name www.business.com is said to have been sold for $5,000,000. Are these statistics encouraging enough?
Read on, dear friend…
The Price Is Right
The price that a domain name would sell for depends on a lot of things:
* How great is the need of the party who desires the domain name? If you’re dealing with a big multinational company named Benson Pharmaceutical, for example, and you have previously registered the name bensonpharmaceutical.com, surely you could demand a hefty sum in the range of 5 digits.
* How relevant is the domain name to the party that needs it? If the domain name is an exact representation of the party’s business name, much like our example above, then you could demand just as high an amount.
* How common is the domain name. As we have mentioned earlier, business.com sold for $5,000,000. Imagine the selling price of domain names like dog.com, or medicine.com or even casino.com. Why are these common nouns so highly sought? Basically because most people would rather type the URL instead of having to pass through search engines. And if one’s online business has dibs over such a domain name, it’ll be able to bag a whole lot of traffic.
* How hot is the subject serviced by the domain name. Late in 2006, the Sony Playstation 3 will be released and as early as 2005, domain name speculators have registered every conceivable Playstation 3 and PS3 domain name possibilities they could think of. Most of them are profiting right now.
These factors all play crucial roles in determining the value of a domain name. As we have mentioned earlier, some sell for $2,000, others for $5,000, and a few for millions of dollars.
Not bad for an idea which you could just register for a mere $8.99, right?
The Early Bird Catches The Worm
The essence of profiting from domain names is, as you could recall, speculation. Not just mere speculation, but educated speculation, that is, you must be able to exercise good judgment in determining which domain name could potentially rise in value.
Education speculation demands that you practice the following things:
* Keep in touch with current events. Learn the hot topics, and more importantly, the cold ones that could explode at any time.
* Be on the lookout for aspects of industries that are currently under development. These are the commodities of tomorrow, and reserving the domain names today would mean that you’ll profit from them when these products or services are finally unleashed upon the world.
* Read a lot. The only way to broaden your perspective and grasp potentially profitable ideas for domain names is to keep abreast of the latest happenings about a particular industry and the current plans of many enterprises. And you could only do this by striving to become a voracious reader of relevant information.
Once you have determined an idea for a domain, you could check its availability at www.godaddy.com or www.namecheap.com .
If it’s not taken yet, the process becomes a game of “first come, first serve.” You have to register such a domain name before the “should be” proprietor does.
Earning from domain names require patience. You have to wait for the right time. You have to wait for the right circumstances.
But with the small investment cost, domain name speculation is an earning opportunity that’s pretty difficult to dismiss. You stand to earn a lot – A LOT – with the right domain name, and it won’t even set you back by $10.
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