How to Uncover The Internet’s ‘Secret’ Goldmine
Great domain names are becoming increasingly scarce. Close to 23 million “.com” names have been registered, and over 22 thousand are being purchased every day. It means that you’re more likely to win the lottery than find a good domain name.
Owning a domain name that helps to successfully “magnetize” a flood of traffic is like gold to any online business. But the increasing scarcity of domain names that are memorable, short and suggestive have turned them into hot commodities. Look at some of the recent acquisitions in domain names:
– business.com sold for $7.5 million
– asseenontv.com sold for $5 million
– altavista.com sold for $3.3 million
– loans.com sold for $3 million
– autos.com sold for $2.2 million
– wallstreet.com sold for $1.03 million
– forsalebyowner.com sold for $835,000
– drugs.com sold for $825,000
– cinema.com sold for $700,000
– art.com sold for $450,000
– engineering.org sold for $199,000
– fruits.com sold for $160,000
– perfect.com sold for $94,000
However, while some domains may have been sold for millions, corporate buyers backed by large bank accounts are not alone in the domain name game. Even entrepreneurs and speculators are making a good living in buying and selling domains.
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Everyday, domain names are selling for as little as $100 or as much as $1 million on public auction sites. For example, eBay.com recently featured actual bids for as little as $500 for “golegs.com” to as much as $20,000 for “arlington.com” — and thousands more hovering anywhere in between.
Some individuals seem to know where to grab these “nuggets of gold.” In fact, a handful know about an untapped goldmine that lies discreetly tucked away in the dark corners of the Internet. And the awareness of this source has helped these “lucky” individuals generate either outrageous fortunes or outrageous levels of traffic for their website.
The goldmine to which I’m referring is the pool of expired domain names. While only a few people may be privy to its existence, it is nonetheless ballooning with every passing day. As much as tens of thousands of unclaimed, unrenewed and expired domain names become available on a daily basis.
An expired domain is one that was registered previously but wasn’t paid for in time for the renewal date, thus returning it to the pool of available domains. There are many reasons for non-renewal (e.g., the owner forgot, has lost interest in the venture, was no longer in business, was no longer reachable or just didn’t pay for it for whatever reason).
However, you may be asking, “Sure, but I’m never going to find good domain names let alone do so before someone else snatches them up.” For a long time, being “lucky” also meant being alert for the countless domains that become available, and being swift in registering them before anyone else does.
However, new tools are now available, making the process of searching, finding and registering great domain names a lot easier. In fact, some of them also help you to become aware of soon-to-expire domains, granting you an almost psychical edge over your competitors that allows you to snap up names just seconds after they’re actually dropped.
Nevertheless, a compelling domain name can help an online business become more visible, credible and accessible. And it can also help a person make a fortune. While finding one was very prohibitive, with the help of tools that are now at your disposal you can be a part of the gold rush, too.
© 2002 By Simon Grabowski, CEO of GetResponse.com
About the Author —
Simon Grabowski is the owner of many online businesses that generate close to a million dollars in annual online sales. His latest is the BizMint.com, a unique, sophisticated tool that helps you to explode your online business by searching and registering from millions of expired and soon-to-expire domain names. See http://www.bizmint.com/
Publishers note:This article was originally published in August of 2002 and is being republished for historical value and reference.