Do you know what should be the right value of a domain name?
If you are just beginning to flip domains, you may have this question in mind. So here’s what I have to say about this.
It’s crucial to understand the right value of a domain name for a domain flipper or you may end up selling a high quality premium domain at a cheaper price.
That’s obviously not your purpose.
You may have just purchased a domain name for $10 or $100. But it doesn’t have to cost the same or near to that amount to someone looking for a perfect domain for their online business.
The only way to make them buy your domain is to make them realize how valuable your domain can be for their business. That’s all.
But it’s the most difficult part and will take time to learn.
A domain name is an integral part of any online business.
Depending on the kind of business the domain is representing it can cost anything from $100 to $100000 or even more.
Facebook paid $8.5 million to acquire FB.com. It’s more than 42 times the amount the company originally paid to acquire Facebook.com
Do you understand why the domain is costing millions of dollars?
Because the domain has so much value to Facebook.
This is how domain flipping business becomes so profitable if only the right domains are chosen and promoted to the right buyers.
You may now find it difficult to choose a domain that you can flip for millions.
Truly speaking these kinds of opportunities are very rare. You should be considered lucky if you have found one.
But you will find many domains to be sold anywhere from $100 to $1000.
This is very common.
These domains are most of the times purchased for around $10 which is the usual cost of a domain name.
However sometimes people buy domains for $100 or more to resell it later at a higher price. It’s only possible if you have found a great domain with enough flipping opportunities.
However the process of understanding the right value of a domain names takes time to learn. But beginners usually don’t understand this simple truth.
They always have this question in mind. This is what made me write this article.
The purpose of writing this article is to inform you that there is no surefire ways to understand the right value of a domain name. However, there are some ways to choose the right domains to flip.
Hopefully you have found a suitable answer to your question in the article mentioned above. Those were the qualities a domain must have if you decide to flip it for more profit.
The actual understanding of what price to ask for a domain name is something you will learn slowly with experience.
But you can always check Flippa.com or other online domain marketplaces to see what kind of domains are being sold. It will give you an idea.
You can definitely ask for any price for your domains. But you will always have the risk of not being able to sell.
The price should be something a buyer would be interested to pay and still makes you the most profit.
So there is no rule to decide the exact price of a domain. As a domain flipper, you should remember that the price should be anything someone would like to pay making you the most profit at the same time.
Now it’s up to you what price you would ask for a domain.