Introduction
Buying domain names can be a lucrative investment for domainers, but it can also be tricky to navigate the market and find the best deals. In this post, we’ll share some tips for buying the best domain names at auctions.
Research the Market
Before bidding on a domain name, it's crucial to research the market and see what similar domain names have sold for in the past. This will give you an idea of the potential value of the domain you're considering, and help you decide on a reasonable price to offer.
Some resources for researching the domain market include:
The free domain sales reports from NameBio
Expireddomains.net, which shows expired domains that are available for auction, with their estimated traffic and backlink profiles
The aftermarket sales database on Sedo or Afternic
Bid Strategically
Don't get caught up in a bidding war, and don't bid more than you can realistically afford. Set your maximum bid before the auction begins and stick to it, even if other bidders drive up the price. It's also a good idea to bid early and establish yourself as a serious contender, rather than waiting until the last minute.
Consider the Domain's Future Potential
When evaluating a domain name for purchase, don't just look at its current value. Consider its potential future value based on trends in the industry, potential uses for the domain, and the length and memorability of the domain name. A short, memorable domain name with high commercial potential may be worth paying a premium for, even if it's not an exact match for a specific product or service.
Beware of Scams
Unfortunately, the domain auction market is not immune to scams and fraud. Be wary of sellers who make unrealistic claims about the value of their domains, or who ask for payment outside of the auction platform. Research any potential sellers and their domains thoroughly before making an offer, and use a trusted third party to handle the transfer of funds and domain name.
Conclusion
Buying domain names at auction can be a rewarding investment, but it's important to approach the market with caution and research. By following these tips for buying the best domain names, you can increase your chances of success and minimize your risks.