Interesting question posed today on Namepros that brought me back to a conversation from last week.
Last week a long time domainer who I had not spoken to or texted with in months, texted, “There are just too many people in this business.”
I replied, I think there are more coming, he replied back with “Oh f*ck!”
That was the end of that back and forth.
In a small sample so far 60% of voters think it’s good, while 40% think it’s bad.
Hawkeye has the most liked comment so far, he wrote the following:
In the long run – Bad.
Too many people are jumping in this, thinking this sounds like easy money and they’re gonna get rich too. They then reg crappy names, over price them, and then spam endusers to death with their over priced junk, that just ends up leaving a bad taste where endusers feel domain sellers are scammers (another growing group of newbies) etc. Also, as they hear that they should buy aftermarket domains at auctions, they see a name with bids on it and jump on to bid too (just because), thus raising mediocre names to stupid prices. They then are stuck with names that won’t sell for what they paid, drop them and domaining, and gripe about the whole process. Unfortunately there’s nothing that can be done, as they’ll keep coming, more and more, and the domaining waters will keep getting more and more muddier and sadly pricier. The only people really happy to see more people coming into domaining, are the registries and registrars. imo.
I think the last part of his comment is spot on, “the domaining waters will keep getting more and more muddier and sadly pricier. The only people really happy to see more people coming into domaining, are the registries and registrars. imo.”
DomainVP had a different take:
Most people quit after a few months when they realize it’s not the ‘get rich quick’ they thought it was.
The few that remain are the only added ‘competition’.
Think of it this way… when you go for a great domain name at auction how many people are really competing with you? I still pick up some fantastic domains for low $$$ and only been at the table with 2-3 other bidders.
If you follow Ricks tweets he is having a similar experience at auction, so I assume thats the same across the board.
Most premium (3L / Single Word) domains only have 200-300 people at the table (at best), watching and participating (NameJet).
So think about that…
7 Billion people on this rock, and only a few hundred actively buying domains on a daily basis.
The industry is good and is still very lucrative.
My take is there is no way to limit people coming into the business, low barrier to entry.
I agree with DomainVP many drop out after a short period of time. Others I know don’t consider the majority of domainers who call themselves domainers, actual domainers. They see them as hobbyists with limited budgets.
JZ says
well its certainly made prices skyrocket. i didn’t think when i started domaining full time in 2009 that 8 years later stuff i was getting for reg fee or base price at snapnames is now going for 500-1000.
Casey says
Could you give some examples of domains you got for reg fee to base backorder price in 2009, that would go for 500-1000 in a domainer auction today (say if you let them expire)?
Please Gfy says
I wish there were some I never had to hear from like linton and cultra. Hawkeye is right when it comes down to everything.
Frank says
I do love the hype from Shane… Andrew is doing things no one ever did in domaining.
things never done in this industry? 8 figure individual sales have been done, 9 figure portfolio sales, so is Andrew working on a 10 figure sale?
Raymond Hackney says
What does have to do with more domainers being good or bad?
Frank says
Ya don’t think a ridiculous statement, it hurts all these new domainers being added to the ranks of domaining.
Raymond Hackney says
I don’t know Andrew’s finances. I don’t know what’s never been done before.
I guess Yun Ye has never been done before.
What it has to do with this post I don’t know.
Look there are people who don’t like Rick, people who don’t like Sherpa or Shane.
I keep saying it doesn’t matter this is an individual sport, what any of them does has no effect on you, just keep working smart.
Lenny Adams says
More people coming into the industry is great, more GTLD or ALL the one’s that have entered the industry is not.
Quality of people coming into the industry is very important. Industry has been hurt by so many of these so called “Guru’s, many speaking at domain conferences, on Domain Sherpa’s, that are a joke. We need to get more quality of people, but until we clean up our industry, that will be hard to do.
VR says
So called “gurus” as opposed to people no one knows like yourself ?
Who is talking at a conference that’s a joke ?
The people who have made the money in this industry our quality.
Lenny Adams says
VR, you have no idea who I am, most successful people in life don’t brag, live under the radar. In fact, most of us at Domain Boardroom, which I am sure we kicked your ass out of are not on stupid shows like Domain Sherpa, and hanging out with frauds like you at Domain Conferences.
VR says
I never belonged to DBR place fucking blows and I don’t attend conferences. So nice try nobody, you are not under the radar you are just nothing.
Domaining.pro says
More are needed so more new domains (from the ICANN new gTLD program) are purchased and it contributes to installing new gTLDs.