MAKE MONEY #54: Sell Domain Names that You Generate
Difficulty: 5 (MEDIUM)
Initial Investment: 2 (LOW)
Location: REMOTE, WORK FROM HOM
Good for: Students, Retirees, Writers, Artists, Parents, ALL Creatives
Generate Creative Domain Names for Sale and Profit
Another way to use your creative brain for profit is to generate and create business domain names. We rated this as MEDIUM since there is a fair amount of competition in this passive income realm already.
Best Places to Sell Domain Names
Pretty much most domain registrars also offer the ability to sell domain names. Here are some of the top ones we have found:
Popular Marketplaces to Sell Domain Names
Domain registrar BlueHost offers a great article with tips and tricks on how to correctly get into the domain name selling business.
TIP: If you want to list on Flippa, be sure to first check this guide to making Flippa a positive, legit experience.
TIP: Got a business that just didn’t fly for some reason? Don’t let your old domain names just sit there gathering dust, or recurring annual fees.
What Determines the Value of a Domain?
We have to say the market decides: it’s whether someone is willing to pay a lot for it. GoDaddy runs a popular Domain Name Appraisal Tool, with some clear pluses and minuses. The pluses are that they still do consider .com to be a premium extension (agree, but that is changing rapidly). They analyze the character length (again, shorter is better, OK–good). Their algorithm uses machine learning with their proprietary sales data from 20+ years of experience managing 84+ million domains. As the number #1 reseller of domain names they have some mighty data.
According to GoDaddy, the average sale price (2017) for a domain at GoDaddy auctions was $2,344.00. It’s probably a bit higher now.
How Do YOU Say It?
However, they may be using AI, but they do not take into account very important English language idioms, slang, and true phrasing. Phrasing your ideas in the right way (how people think and actually speak) is crucial.
Also, Consider Domain Auctions
You can also bid on expired domains pretty much anywhere, anytime from the GoDaddy Investor app (Apple Store) or here for Google Play. Popular marketplace Sedo runs a bi-monthly GreatDomains Auction.
Want MORE MAKE MONEY IDEAS?
