The Goldrush is Back
| Category: Domain Names | Date: 2003-10-08 |
Theres another Internet gold rush underway and everybodys keeping quiet about it...
When the Internet was first invented, some bright people could see the possibilities and could see that prestige was going to be traded for advertising bucks at some point in the future.
Based on that assumption, they went ahead and registered loads of Domain Names that they thought might be of value at a later date. They took a risk and spend loadsamoney buying up as many names as they could afford. At the time it cost around $100 a name to register and these guys were buying them by the THOUSAND.
Image that you had been one of those people and that you had bought the name WallStreet.com. Imagine that for the next few years you had paid an annual renewal fee to keep it your property. Imagine that, last year, some cigar-smoking wise-guy approached you and offered you over ONE MILLION DOLLARS for the name...
Hey, wake up! This ISNT A DREAM. IT REALLY HAPPENED.
An on-line casino that paid over one million bucks for the name now owns Wallstreet.com. They reckon that there are enough people who are going to type wallstreet into their Internet search bar and end up on their Web site - and stay a while - and spend some money - and ... okay, you get the picture?
Just open a browser page and type wallstreet into the browser bar at the top. Youll end up staring at a game of poker!
Is it worth over 1 million? Who knows?
The casino owners think so. And if I had been fortunate enough to have bought the domain name Wallstreet.com for $100, I would be sitting on the beach in The Bahamas right now, thanking my lucky stars and trying to find the next Wallstreet.com.
AND THATS THE POINT... with over 10,000 new domains registered EVERY DAY, there is such a HUGE shortage of GOOD names, the gold rush is back on.
And the panhandlers are back!
Lots of people are buying ANYTHING that sounds like a name, then advertising them for big bucks (and wondering why the heck no one wants to buy them).
I just took a look at one of the big domain name agents and browsed in the letter a.
The first two names to hit me were abc14.com, asking price $10,000 and abcfj.com, asking price $2,000.
Are these guys serious?
Would YOU pay $2,000 for a name like abcfj.com?
So whats going on?
Whats going on is that the panhandlers are finding tiny grains of gold and asking silly money. The serious gold miners are finding true nuggets, selling them for a sensible sum and moving on to the next nugget.
If you think that the figures Ive mentioned so far are exceptional or that Im exaggerating, go snooping and do a bit of research for yourself. Take a look on some of the major Domains For Sale sites. Find the names that have asking prices against them and pick out a few at random. Then say out loud "BOY, HE WAS RIGHT!"
And so we have one of the most incredible businesses, with practically no start up expenses, very little actual work, no maintenance, no staff costs ...and some of the biggest payoffs in business history.
BUT BE WARNED. Theres an old saying...If something sounds too good to be true it usually is.
And this applies equally to the domain names market IF YOU DONT KNOW THE SECRETS.
There are so many people wandering through this new but promising market, registering domain names left, right and center, making mistakes, not always learning along the way.
The problem is that by the time they have "thoroughly learned the market" and "picked out all the secrets" (if they ever do), they have already wasted thousands of dollars in unnecessary expenses.
This is not an exaggeration and Im not trying to scare you. What I am trying to do is show you that the "domain name game" when done right can be a safe, inexpensive and VERY rewarding experience. When it is rushed into without knowing the little tricks and pitfalls and how to overcome each of them, it can be like sword fighting on a tightrope, blindfold with one arm tied behind your back.
About the Author
Graham Hamer produces the TopProfits weekly ezine of Internet Marketing. His ebook The Secret Goldmine can be downloaded from http://www.unique-book.com/ and a collection of some of the Internets best names are listed on his site at www-websites.com
graham.hamer@noos.fr
http://www.www-websites.com
When the Internet was first invented, some bright people could see the possibilities and could see that prestige was going to be traded for advertising bucks at some point in the future.
Based on that assumption, they went ahead and registered loads of Domain Names that they thought might be of value at a later date. They took a risk and spend loadsamoney buying up as many names as they could afford. At the time it cost around $100 a name to register and these guys were buying them by the THOUSAND.
Image that you had been one of those people and that you had bought the name WallStreet.com. Imagine that for the next few years you had paid an annual renewal fee to keep it your property. Imagine that, last year, some cigar-smoking wise-guy approached you and offered you over ONE MILLION DOLLARS for the name...
Hey, wake up! This ISNT A DREAM. IT REALLY HAPPENED.
An on-line casino that paid over one million bucks for the name now owns Wallstreet.com. They reckon that there are enough people who are going to type wallstreet into their Internet search bar and end up on their Web site - and stay a while - and spend some money - and ... okay, you get the picture?
Just open a browser page and type wallstreet into the browser bar at the top. Youll end up staring at a game of poker!
Is it worth over 1 million? Who knows?
The casino owners think so. And if I had been fortunate enough to have bought the domain name Wallstreet.com for $100, I would be sitting on the beach in The Bahamas right now, thanking my lucky stars and trying to find the next Wallstreet.com.
AND THATS THE POINT... with over 10,000 new domains registered EVERY DAY, there is such a HUGE shortage of GOOD names, the gold rush is back on.
And the panhandlers are back!
Lots of people are buying ANYTHING that sounds like a name, then advertising them for big bucks (and wondering why the heck no one wants to buy them).
I just took a look at one of the big domain name agents and browsed in the letter a.
The first two names to hit me were abc14.com, asking price $10,000 and abcfj.com, asking price $2,000.
Are these guys serious?
Would YOU pay $2,000 for a name like abcfj.com?
So whats going on?
Whats going on is that the panhandlers are finding tiny grains of gold and asking silly money. The serious gold miners are finding true nuggets, selling them for a sensible sum and moving on to the next nugget.
If you think that the figures Ive mentioned so far are exceptional or that Im exaggerating, go snooping and do a bit of research for yourself. Take a look on some of the major Domains For Sale sites. Find the names that have asking prices against them and pick out a few at random. Then say out loud "BOY, HE WAS RIGHT!"
And so we have one of the most incredible businesses, with practically no start up expenses, very little actual work, no maintenance, no staff costs ...and some of the biggest payoffs in business history.
BUT BE WARNED. Theres an old saying...If something sounds too good to be true it usually is.
And this applies equally to the domain names market IF YOU DONT KNOW THE SECRETS.
There are so many people wandering through this new but promising market, registering domain names left, right and center, making mistakes, not always learning along the way.
The problem is that by the time they have "thoroughly learned the market" and "picked out all the secrets" (if they ever do), they have already wasted thousands of dollars in unnecessary expenses.
This is not an exaggeration and Im not trying to scare you. What I am trying to do is show you that the "domain name game" when done right can be a safe, inexpensive and VERY rewarding experience. When it is rushed into without knowing the little tricks and pitfalls and how to overcome each of them, it can be like sword fighting on a tightrope, blindfold with one arm tied behind your back.
About the Author
Graham Hamer produces the TopProfits weekly ezine of Internet Marketing. His ebook The Secret Goldmine can be downloaded from http://www.unique-book.com/ and a collection of some of the Internets best names are listed on his site at www-websites.com
graham.hamer@noos.fr
http://www.www-websites.com
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