Ah, the prosperity of domain flipping where you can sell a domain name and make millions. Well, at least you could have in the early 2000s, right?
Not necessarily, according to the list of most expensive domain names 4 out of the top 6 domains were sold after on or after 2010. One domain DigHow.com was sold for $3 million in April 2018.
Does that mean you can still make millions selling domains? Most definitely, however, your game plan is better to sell more domains than trying to sell one for millions. This way you can turn it into a full-time income rather than looking for a single Golden Nugget.
What does make it in domain name great for flipping?
If you look at the domains that sold for the most money, these are usually names for the business or service. For example carinsurance.com, insurance.com privatejet.com or even toys.com.
These are great, but your chances of finding domain names such as these are slim to none. However, that only applies words that are already popular and not emerging brands or slang terms.
With memes, Facebook, Twitter, and all the other social networks new trending words pop up almost daily. While not all of them can be turned into profitable domain sales, some can fetch you a couple of thousand dollars.
Convfete.com is a great example, at simple mistake that was made one of the most popular terms social media at the end of 2017, with one buyer offering $15,000 for it.
Brandable Domain Names
If you don’t want to follow the latest trends and social media happenings I don’t blame you. There is another way to find a domain name that can sell for thousands of dollars or even more. Those are brandable domains.
Brandable domains are one of my favorite domains to buy. There are two types of brandable domains you can purchase.
One is like the top domains which include carinsurance.com, but with a twist. So for example instead of having something like Homes.com, you can have buyahome.com or flipthathome.com, etc.
These hit directly to the point and combine brand-ability with a keyword. I consider them brand related domains because they are easy to remember and sell for a lot. However, you have to be careful and don’t go try to register something like howtobuyahomerightnowwithme.com that will not work
Another is the brand sounding domains. These are similar to brands that exist. For example, some 3 to 6 letter word that sounds good and is memorable. Brands like Google, Nike, Pepsi and so on.
Another common domain that can be a brand is a misspelling of another word. And finally, words that mean or could mean something related to your brand.
I personally would stick with the first example as all you need for that is an idea and thesaurus. Coming up with ideas like Nike is either a hit or miss. If you go with that strategy, you might just end up owning a lot of domains that nobody wants to buy.
How To Choose A Domain Name For Flipping
The thesaurus tip from above is one of my favorites ways to buying and selling domain names. Looking for synonyms of your niche related words can create an interesting and often a brandable domain name for sale.
All you do is take a word or few words related to a business domain name you are trying to create and play around with it. Let’s say you want to build the website about domain flipping.
You can either take those two words and add another one like domainflippingboss.com or domainflipping365.com. If not, you can change the wording to something like weflipdomains.com
Or simply use another word for flip like flick. So you could start a flickdomains.com and still have the ability to brand it while being relatable.
How To Sell Domain Names
Now that you finally have a domain name that you want to sell what you do to sell it?
There are several paths you can take you to want to sell your domain. The most popular one is probably putting on auction, either a name registrant's auction like Go Daddy’s or third-party like flippa.
They're different advantages and disadvantage for each one, and I suggest looking at the fees to make your final decision if you want to go the auction route.
However, the general rule of thumb is that auctions like Go Daddy’s one is good for domains that already have had websites or history of a business, and you just want to sell it for a quick buck.
Flippa might be a more popular option, but it can be a difficult task to sell a weak domain that doesn’t generate interest. Plus their fees are usually much higher.
Another option is to try selling your domains in various FB groups, forums, or more obscure or private marketplaces. This might be the cheapest option but you really have to know the value of your domain to get a good deal in such places.
Finally, you have places that will either buy your domain from you and then sell it themselves or evaluated for and take their commission once it sells. While this is the most expensive option, I strongly suggest checking it out for maximum profit.