Its…………. AUCTION TIME!!!!!!
On May 8th, Thursday, Ron James from NamePros.com will be hosting an auction on his site. There are 98 lots in the auction from what I have seen. This is the first time in a long time that I have not put something in a NamePros auction. But I do plan on buying. I am pre-bidding on 15-20 of the lots right now. Click here to see.
Auctions are great because you can always find at least 1-2 bargains at them. Obviously it is rare when the bidding does not go higher than the pre-bidding so you will not be getting any bargains that way. But I do pre-bid on every single domain name that I want to purchase at the auction. Why? Because the higher the price of the pre-bid, the lower the name will rise in price at the auction. The less people that bid on it, the less there will be an emotional draw to bidding on the name. And if the price is already just a tad bit above the bargain price, there will be less of a bidding process on it. It is a tactic I use personally, and it works for the most part. But of course there are always exceptions.
Another thing that is great about this particular auction (though this could be applied heavily outside of the auction arena) is that there are about 20 bulk lots in the auction. If you buy in bulk and then resell individually you will make money almost every time. The more names that come in the lot the better! People will sell below fair market value if the can sell you 300 names, guaranteed. I do this online as well as offline. For instance: I bought a package of used turf equipment and a backhoe from a golf course. I spent $3,500 total on the 15 pieces that I purchased. I resold them at an auction for $7,700. Not too bad of a gig eh?
Anyways, thats all I have to say today!
Domaining Daily,
Ty Maier
[...] Domaining 101 wrote an interesting post today on NamePros Auction on ThursdayHere’s a quick excerptFor instance: I bought a package of used turf equipment and a backhoe from a golf course…. [...]