The nice thing about the domain industry is you do not have to be an expert to make money. I spoke to a 21 year old kid last week, who registered a six letter.com and sold it for $1500 to a colleague of his father. He is not an expert and not really even a domainer, he is more of a gamer who just chats with friends about cool websites. He said he liked the name of a game review site, and it made him look for other available names that sounded cool. He regged the name at Go Daddy, and then was at dinner with his Father and one of his colleagues from work. He mentioned the name and the gentleman offered $1500. He could not believe it and said sure. Of course this story is not the norm and its not easy to sell a domain for x,xxx. Sometimes getting lucky is better than being an expert. That is the beauty of domaining.
I think someone should have some expertise if they are going to give others specific advice. Expertise is not needed to make some money here and there with domains, you will most likely need some knowledge to do it consistently.
There is a small learning curve with avoiding trademarks and such, but all anyone really needs is the ability to pick good brand names.
Yeah, but if you’re smart that stays with you all the time, luck just comes and goes.
If it were only luck, you wouldn’t have 50k-100k domains dropping every day.
That’s $182 – $365 MILLION dollars LOST every year by domain speculators / investors. A sobering thought.
Domain selling can no doubt be profitable fun. Some people do get ‘lucky’ and turn a few hundred$ or less into $2000 and more.
However, to generate over $100,000 in total sales would require experience and expertise. Outsiders think it’s ‘easy’ and many lose tons of money trying to profit from this ‘goldmine’!