Domain auctions are something the great majority of domainers participate in frequently. Many domain names that are expiring can be back ordered and won at subsequent auctions at places like Namejet, Snapnames and others. There are domain name auctions ending almost every minute at auction houses like GoDaddy, Sedo, Bido, Flippa, EBAY and many others. There are exciting domain name auctions that take place live at domain conferences like T.R.A.F.F.I.C. Some people like the thrill of being in an auction, whether it be live or just on-line, constantly refreshing the screen as the auction winds down to determine if they are the winner. Many domainers get involved in auctions, but some really have no intention on winning the name. They just want to participate, perhaps to have some insight into the final result. Lately, there are many great names that appear in domain auctions all of the time, making it a real exciting part of being in the domain name business at this time. However, like anything, there are some good things, some bad things and some down right ugly things associated with domain name auctions, depending on whether your a buyer or seller, and they are discussed here from my point of view.

Domain Auctions – The Good, The Bad and the Ugly

GoDaddy recently changed their auction rules by extending the time added to the ending of each auction, anytime there is a bidder in the last 5 minutes of the auction. They have been operating for quite some time with just a two minute time extension and then recently changed it to 10 minutes. Within 24 hours of making that change, due to an outpouring of complaints, they changed it to 5 minutes, where is currently stands now. Many auction houses do this, in hopes of driving up the bidding and perhaps e-mailing those that have been outbid with a warning so that they can revisit and perhaps provide a higher bid. Flippa adds an entire hour each time there is a bid within the last hour. Most buyers hate the time extensions for several reasons. Some domainers like to “snipe” names, providing a last second bid in hopes of winning the name, while not drawing attention to the name. Time extensions really don’t allow for “sniping” in its purest form. Domain buyers are also busy people and time extensions only eat more time that a domainer could be spending on many other things. If they like the name, they need to be active in the auction and if someone else likes it too, you can have a bidding war that can go on for hours. I find it crazy when those that know how the extensions work still wait until the trickling seconds to provide another bid, only wasting valuable time! Like most, as a buyer of domain names, I hate the time extensions for domain name auction bidding. On the other hand, as a seller of domain names, time extensions are awesome, especially when there is a bidding war for your name. Time extensions allow you some time to really hype up the ongoing bidding war by using social media, like Facebook or Twitter. Like I said earlier, many like the thrill of an auction and bidding wars provide the perception of demand, although it’s not really a perception, it’s realty at that point.

Not every auction platform has time extensions. A great example is EBAY. I have sniped many items from EBAY sellers by bidding at the last seconds, but also lost many items to somebody else doing the same thing. The majority of auction houses do have incremental bidding, which means that each bid are provided in certain pre-defined increments, so that someone is not constantly outbid by a penny. If they really want the item, they need to be willing to up the bid to at least next increment, which is always set before the auction begins. My favorite domain name auction feature is proxy bidding, which allows you to place the maximum amount you are willing to bid for a given domain name. The auction platform will then enter a bid on your behalf against other bidders in the smallest required increment and up to your set maximum amount. It is a great feature, especially for a part time domainer like me, because it let’s me do my day job and not have to closely follow the domain auctions as they are happening. I know what I’m willing to pay and I set that amount. If I get the name, I know I got a deal and know I can sell the name for a higher price. While its my favorite feature, I kick myself often, as I’ve lost many domain names by somebody winning the name for one bidding increment above my maximum bid. I always seem to grind my teeth when it happens, but one should always set limits and stick with your guns in the end. I don’t know about you, but I’m in this to make some money. If you watch any of the auction hunter shows out there, they all operate the same way. That’s why they are successful and have their own show! I wonder who will have the first reality domaining show?

A controversial point among domainers with domain name marketplaces like SEDO, 4.cn and others is that once a seller receives an offer on their domain name, they have the option to kick it into public domain auctions, where the bidders offered price is utilized as the reserve price for the domain auctions. After reading several threads on the subject within domain forums, it is apparent that some domainers really despise this practice. On the other hand, there are many sellers who love the idea, as it provides a chance to get the name into a public auction, where there are many more eyes and possibilities for a higher priced sale. A seller does need to be comfortable with the initial offer, however, because the auction results in a sale for at least that initially offered amount.

Another good and bad point about auctions, depending on if you are a buyer or a seller, are the reserves, which we’ve touched upon already. A seller can set a reserve price for their name at most auction houses, thereby insuring that they will get what they want for the domain name (at a minimum), assuming there are bidders for the name. Most auction houses charge an additional fee for setting a reserve and sometimes the fee is dependent on the reserve amount set.

Having participated in many many auctions over the years for a variety of different things, it is very apparent that the most ugly side of auctions is the non-paying high bidder. Nothing is more annoying that a high bidder backing out of the deal and not paying for what they have won, other than a seller not sending the merchandise because they feel the auction did not command enough money from the winning bidder. I’ve experienced both and neither will get you in a good mood. It is a real waste of time for the seller and/or buyer and is always a real loser for the auction house. The domaining industry is a small world and what comes around goes around. As such, think twice before backing out of a deal, whether a buyer or a seller, as your reputation will be tarnished and you’ll have a harder time getting deals done. Many domain forums and blogs have name and Shame posts, whether deadbeat buyers and sellers are called out and identified. You’ll never see me on these lists and I better not see yu either!

Thanks for checking out some of the good, the bad and the ugly associated with domain name auctions!

Domain Auctions – The Good, The Bad and the Ugly

Domain Auctions – The Good, The Bad and the Ugly
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VinsDomains has a great track record of working with businesses and individuals to establish an online internet presence by providing a targeted domain name that will increase site traffic and provide a sustainable brand/online identity. VinsDomains.com has a wide variety of domain names for sale that will work for a variety of different types of businesses. Whether you are taking your business online, starting a new business, launching a new product or starting a new blog, we can help you find the domain you need!

What is a domain name? Technically, a domain name is an identification string that defines a realm of administrative autonomy, authority, or control in the Internet (Wikipedia). However, if your visiting this site, you already know that a domain name is much more than that. Your domain name says more about your business than you realize. Your domain name provides the foundation of your online business. The stronger the foundation, the more you can grow, which is why VinsDomains focuses on low competition keyword string domain names, call to action domain names and brandable domain names that are a right fit for your business.

VinsDomains was started in 2012 and is owned and operated by me, Vincent Jacques. I am a Professional Engineer, with over 25 years of experience in the environmental engineering field, primarily associated with environmental due diligence and remediation. Over the years, I have started and sold several environmental companies and currently serve as the New England Regional Manager for Bock and Clark Environmental, LLC.

During the evenings and weekends, I operate Resell Domains LLC, which is the legal domain business my operations functions under. In my spare time, I write songs, play guitar and like to sing.  I am a PADI certified diver, an avid philatelist, and a long standing member of a 12-person monthly wine club, Vino Rouge.  I absolutely love music and do not shy away from the title DeadHead, having seen his fair share of Grateful Dead concerts.  I live in Narragansett, Rhode Island with my wife and two children, who are growing too fast!  Update…they’re all grown now and college graduates!

Since its inception, VinsDomains has sold scores of catchy, memorable and radio friendly domain names! Whether you are buying a domain name for an e-business, internet marketing and/or business branding, you have come to the right place!

Some of the featured domain names for sale at VinsDomains.com can be seen at the right side of this page, although there are many others to choose from as well, which you can see by browsing our category listings.

What are you waiting for, start to grow and protect your internet business with quality aftermarket domain names, as can be found here!

Newbie Domaining

Newbie domaining – well, perhaps you read my six-months post, so I’ll try not to be repetitive. If you have not, looking back, I had actually learned a couple of things by then and perhaps its worth a read. You can check them out here. Anyway, this week does celebrate my one year in the domaining world, as evidenced by the numerous domain names that I let drop this week. As happens to most newbie domainers who visit GoDaddy for the first time as an introduction to domain names, I was amazed at what was selling on their auction platform and for how much. I was also awestruck by the number of domain names that I thought of that were “actually available” to register (hand reg) like HardJudgement(.)com, RollingLogs(.)com, ShoulderOfGiants(.)com and a lot of other pigeon shit names, as Rick Swartz would call them. What was I thinking? Nothing but $$$, which allowed me to waste a bunch of $$$.

In one of the 6-month posts, I talked about a thread I started at DNForum entitled, What’s The Most Important Thing You Have Learned Domaining, which got a lot of participation and is something I read from time to time, as it is chock full of notable tips and reminders. Anyway, if somebody were to ask me that same question today after one year doing this, I’d answer… Take your time and do your homework! Now that it is tax time, it is pretty evident that I wasted a lot of money lining the pockets of others because I didn’t take my time and I did not do my homework, at first anyways. Remember, patience is a virtue and nothing is easy!

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While I’m only doing this part time, I try and maximize the time I do spend domaining by reading as much as I can from others who are already successful doing it. One of the best things that I did early on was open a Twitter account and follow folks in the domaining world. Follow some of the well known names in the industry and follow who they follow. Soon, you’ll have an abundance of relevant reading material on a daily basis that will inform you of the domaining world, past, present and future. It really is an amazing resource and keeps you in tune with the industry as a whole, without wasting much time. It is also a great platform to sell domain names and I have sold several names through my website, which they found via Twitter posts. Just be sure to not bombard your followers with just domain listings. Be sure to re-tweet articles or posts that you find informative and relevant and also take the time to provide your own insight, inspiring quotes and other tidbits of information to keep your followers following and to have them encouraging others to do the same.

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Another great thing that I did was join and mine information from several domaining forums, such as DNForum and NamePros. You may find the best information there is from threads of the past, as I do, although even today, it’s hard to pass bad advice on there, without getting shredded by the more seasoned moderators. Once you find your way around, you will quickly find that most of the questions you have in your head, have already been answered. The internet is vast and is still growing at an incredible pace, but it has also been around for some time now, so there is no need to re-create the wheel. Learn from others who have already been where you are and you will find the learning curve is steeper but a lot quicker! Don’t just be a stalker on the forums though. Be sure to participate and get your name out there. Perhaps answer some softball questions from other folks who are just starting themselves. You’ll quickly find yourself forming relationships and perhaps closing some deals with them.

As you’ll quickly find, there are numerous outlets to try and sell your domain names. So far in my first year, I have sold most of my names through my own website, although I have also sold names through SEDO, GoDaddy, DNForum and EBAY. I have also received offers through DomainNameSales, Toby Clements newsletter, 4.cn and some other outlets, but have yet to close any of those deals. Every week, I’m discovering new outlets to try and sell my names. Your domain names will not sell themselves. You have to work it. Many domainers simply list their names at SEDO and then wait and hope. That is certainly not the right approach towards success!

As far as my first year in this part time business, I have had three $XXXX sales, several $XXX sales and a bunch of $XX sales, although those were mostly hand reg names that I sold on E-bay. Profit/loss-wise, I can say that I have had a loss for my first year, which will help my taxes, although I also now have a nice inventory of sellable names and have generally made a considerable profit on those names that I have sold so far. Most importantly, I’m getting much better at investing in names that others would like to buy and I do my homework before doing so. That really is the trick of it all and something to study and learn more about on a consistent basis. There is an abundance of weekly publications that discuss the most recent sales of domain names and their corresponding prices. Seek these out and see what is selling. There are certainly some trends and you’d be wise to invest in those types of names, if that’s what you’re doing. With the economy the way it is, there are folks out there who are selling cheap to get out, which creates buying opportunities for you and me.

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In my first year, I also purchased a couple of traffic websites, that are ranking extremely well on search engines and that was a great investment on my part. I paid $300 for one of these sites, invested a little time at monetizing it better, and have already made $665 from that site. Not going to retire with that, but let’s face it, in a full year, the site will make between $750 and $1,000, and its residual income. If I can do that 50 more times, that is a pretty nice side income.

Perhaps a better way to go, however, is take the time to buy a name related to what you are passionate about and develop it. I have developed a handful of websites and have had a decent return through monetization (i.e. Google Adsense, ClickBank, advertising, etc.), although these were sites I really had little interest in and were developed with little knowledge. I’m now in the process of building a couple of sites about things that have great interest to me like wine, stamps and a children’s educational app, and the posts and ideas are flowing with ease. It really is a lot more exciting and enjoyable to put together as well. Looking forward to sharing these with you over the coming months.

Unlike my first year when I haphazardly stumbled into this hobby/side business, I’ve set some definitive goals for this year and the longer term, which has allowed me to focus and chip away at them, moving me in a defined direction. I have no doubt that I will achieve each and every one of the goals, because in my mind, I already have! That was always the key to success in other business I started in the environmental field. Create a goal, carve out steps to get there and start climbing them one by one. It never fails, just believe in what your doing and continue putting that out there.

Thanks for checking in and taking the time to read this!

Newbie Domaining

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Newbie Domaining