Why domaining isn't for me!

[ian]

Well, I've given it a good go, but after a long time trying, I just can't see a future in domains for myself, as disappointing as this is.

I initially wanted to invest in this industry so I could assign some appreciating assets to my business, which is cash rich, but trying to understand and achieve success in this industry is incredibly difficult, even for me!

My observations are that awareness of domains has increased massively so playing catch up at this late stage is tricky. There are a few individuals that clearly have a huge advantage over the rest (no doubt through hard work, investment and at times, luck) so it reduces significantly what you can aim to catch for example. For me personally, I was looking at higher-end domains, rather than trying to make a few ££ out of each purchase.

What has really dawned on me though, is just how many key domains are in the hands of domainers not being used. I find this hard to bare and a reason why it would be wrong for me to start doing the same. It is so disappointing to find domains that could be absolutely amazing as websites sitting dormant for years in the hope of the right buyer coming along. Nominet have launched .uk to increase the availability of domains, yet so many existing ones aren't doing anything.

I fully understand the logic behind holding domains, I honestly do, but I just feel it is a grave shame to not make use of them. The domains I've found and had hoped to catch were incredible names, and I had plans to develop them. I find domains a great stimulant to new business ideas, but obtaining them at the right price from existing owners is usually a waste of time, as many are happy to hold, or are too unrealistic with their pricing (quite often on here you see mentions of not contacting 'x' unless you offer 'xxxx', no matter of the domain quality).

With too much focus on high-end domains, I didn't catch anything, apart from an early drop on unclear_co_uk which seemingly isn't of interest to anyone. If anyone wants it, for a gesture amount and the cost of the Nominet transfer, let me know!

I also cannot fathom the sale prices. I know the market is very targeted and you have to luck in on the right buyer at the right time, but sometimes it baffles me how a domain that so many feel is rubbish can sell for thousands, yet a decent one sells for sell. How you guys cope with understanding this I do not know!

Another reason for not sticking with it is the new Nominet rules on .uk. Like many here, I find by releasing the .uk if a .co.uk is dropped, resulting in a high probability of the two domains being with two separate owners, totally damaging to the industry, and unless Nominet review this and consider allowing a cool off period where the new owner can buy it, I can't see how this will work, though obviously, for Nominet, this isn't as important as gaining more revenue from the new extension.

This forum is the best around with some incredibly knowledgeable individuals. I plan on sticking around, but maybe only to try and pursue some domains I'm interested in (to develop). I'm sure there will be new approaches that can be capitalise upon, on the new system, but it is probably one for the seasons pro's rather than me

 

[Brassneck]

I think you have made a wise decision. I've been dabbling for about 10 years and I really struggle with the mentality of many, especially those who have exceptional domain portfolios.

I have done reasonably well until recently (on the basis of being willing to sell at reasonable prices to keep turnover ticking over) so it's been good for me; but as you have concluded as things stand, and I agree, making a go of this in any meaningful way from the current position seems far too difficult and uncertain.

Stephen.

 

[Edwin]

A very reflective analysis, and a smart move from the sound of things - too many people throw good money after bad chasing elusive success in the industry.

 

[bluerock]

My advice would be to keep looking at Domainlore as some very good names do go cheap.

You could build a nice development portfolio from some of the better listings without shelling out £x,xxx's

 

[Murray]

I don't know

People said it wasn't a good time to get into dropcatching when I started in early 2013

It's been a year + on now and I've made a little bit of money from it, but more importantly it's a lot of fun.

Maybe like invincible said in another thread, the co.uk dropping & the .uk becoming available will be out of sync giving the co.uk catcher the chance to register it.

Maybe registrars will stick to the rules and only take domains where the registrant has given explicit consent (which will almost never happen)

If so maybe dropcatching will live on just fine yet..

And I would recommend anyone get into dropcatching, because as I said above, it's fun it gives you something to look forward to most days

Also as Bluerock said, you can pick up some nice domains at domainlore if you're happy with sitting on the money until the right buyer comes along.

I still think there's ample opportunity for people to make money from domains, maybe not a full time job, but money on the side.

ps. Nominet did not launch .uk to increase the availability of domains

 

[timter51]

Completely with Murray on this one, if you've got the spare time then just carry on and treat it as a bit of fun, and you might earn some money on the side. The biggest hurdle I guess is getting that first largish sale in, which in turn helps you justify spending some money on getting a tag (if you haven't already) and decent hosted catching. Those two things are a must, just loading up on public catchers isn't going to lead to big catches unless you get extremely lucky (particularly after dropsystem stopped their public catching and drop.co.uk came down to 2 weeks).

I started around early 2013 as well, made my first good sales catching strong PR4/5 domains and selling for low/mid XXX and went from there. It is complete and utter luck once you are on a decent catching system, just check drop lists everyday and load it up, literally 20 mins, and keep everything crossed. I know I could spend the next 5 years catching feck all, but it's all about the thrill of the chase Having just done my 13/14 accounts, it brought home how ridiculous this whole game really is if you hit some luck.

 

[ian]

Thanks all for your thoughts, and Invincible for the critique and spelling corrections; this place wouldn't be the same without you...good or bad

The view on those few catching most wasn't a reason why this isn't for me, but an observation. I don't expect to suddenly enter a new industry and take control of it, it takes time and investment, I get that, but with so many changes coming, there needs to be some clarification first.

I'll stick around for the above reason, as well as having made some good friends and enjoy the banter; there are few forums that entertain a decent level of intellect.

You are right, I perceive a domain name to link to a website, which I've since found out isn't always the case. Doesn't change my view that I feel it is a shame, but I understand the reasoning behind it.

I won't cite any examples of those I've tried to buy as whilst I don't agree with some of the responses I got, I have respect for them and the private nature of any discussion.

I'm not saying the way this industry operates is wrong, just that it is very different than I initially thought when starting out, and something this is enough to be somewhat put off certain aspects of it.

 

[aZooZa]

Invincible needs to brush up on his apostrophes with possessive plurals so I wouldn't worry to much about being pulled up by him.

 

[Murray]

I'm not sure weather I always agree with invincible, but I do hear, it would be a shame too loose you as a member, their are still a lot of great opportunities .

 

[Edwin]

I'm curious. If you're willing to share, was your first impression of the industry that it was somewhere that it was possible to "get rich quick" or at least do well with little or no effort? I'm talking about your perception coming into domains, not now...

 

[aZooZa]

I was waiting for your one liner. I'm definitely not perfect with grammar. Since you're posting, I'd be very happy if you exampled where you believe I go wrong with apostrophes.

You write "...the registrants expectations". If it was a single registrant, the form would be "the registrant's expectations". More than one registrant (plural) would require "the registrants' expectations".

 

[ian]

I'm curious. If you're willing to share, was your first impression of the industry that it was somewhere that it was possible to "get rich quick" or at least do well with little or no effort? I'm talking about your perception coming into domains, not now...

That's a tough one, as I now have the industry ingrained too much to remember back. However, certainly not a "get rich quick" scheme, there isn't such a thing and as a company owner who has done very well from other industries (not blowing own trumpet but am proud of my achievements), I know nothing gets handed to you or happens over night, which is why I've allowed a good few months to gather my thoughts and opinions. I'm certainly not shy of hard work, I'm on it 16-18 hours a day, but I know when an industry is saturated (in certain elements of it).

As you'll see, I have actually been a member for a long long time and had an interest in domains back when I guess it was easier to catch nice domains and the market was possibly more buoyant. It is possible that I came into the industry this time believing I could research like hell, utilise available time and have as much a chance as anyone else to catch domains, hoping I'd be able to find little gems that others hadn't spotted. At that time, I didn't realise just how important the script could be, and that there are numerous lists of domains showing exactly what is dropping and when; so in one way, it levels the playing field, whilst at the same time, still ultimately dependent on how quick your code/server can poll.

I certainly didn't realise until a few months in that 'public catchers' (with the greatest of respect to them) will rarely catch a £XXXX domain. That came through trial and error.

Ultimately, I wanted to try and catch/buy premium domains to retain as assets, whilst gathering inspiration for new projects and developing them as such. I didn't want to make £XX profits because the time involved would then take away from my full-time job where I'd be making more (if that makes sense without sounding arrogant).

If I really wanted to make a go of it, I'd invest a few £XXXX in my own membership, script and try to take on the big boys, but I've run the figures and combined with the changes at Nominet, it doesn't appear viable. I suspect the game is with those that have invested over a long time and know significantly more than me (myself, I!).

Does that answer your question? Happy to answer anything (apart from which domains I wanted!)

 

[Edwin]

Thanks, appreciate the nuanced answer. And it makes total sense as you've outlined it.

 

[Skinner]

Sorry to break it to you murray, but one accredited registrar is already abusing their status as "accredited registrar", and thus far nominet have been dead-silent since their compliance team was made aware of it.

Maybe registrars will stick to the rules and only take domains where the registrant has given explicit consent (which will almost never happen)

 

[julian]

Without knowing the domains, we don't know if you might not have been offering enough - or perhaps you were making lowball offers.

You seem like a nice chap, but based on what you've tried to catch and sell here, shows you might be kidding yourself that you know enough about what's really worth investing in - making money from domains is not easy.

Good luck in whatever you do.

Does that answer your question? Happy to answer anything (apart from which domains I wanted!)

 

[Murray]

Sorry to break it to you murray, but one accredited registrar is already abusing their status as "accredited registrar", and thus far nominet have been dead-silent since their compliance team was made aware of it.

Name.com because of the namejet auctions? or something else

 

[websaway]

Well, I've given it a good go, but after a long time trying, I just can't see a future in domains for myself, as disappointing as this is.

I initially wanted to invest in this industry so I could assign some appreciating assets to my business, which is cash rich, but trying to understand and achieve success in this industry is incredibly difficult, even for me!

My observations are that awareness of domains has increased massively so playing catch up at this late stage is tricky. There are a few individuals that clearly have a huge advantage over the rest (no doubt through hard work, investment and at times, luck) so it reduces significantly what you can aim to catch for example. For me personally, I was looking at higher-end domains, rather than trying to make a few ££ out of each purchase.

What has really dawned on me though, is just how many key domains are in the hands of domainers not being used. I find this hard to bare and a reason why it would be wrong for me to start doing the same. It is so disappointing to find domains that could be absolutely amazing as websites sitting dormant for years in the hope of the right buyer coming along. Nominet have launched .uk to increase the availability of domains, yet so many existing ones aren't doing anything.

I fully understand the logic behind holding domains, I honestly do, but I just feel it is a grave shame to not make use of them. The domains I've found and had hoped to catch were incredible names, and I had plans to develop them. I find domains a great stimulant to new business ideas, but obtaining them at the right price from existing owners is usually a waste of time, as many are happy to hold, or are too unrealistic with their pricing (quite often on here you see mentions of not contacting 'x' unless you offer 'xxxx', no matter of the domain quality).

With too much focus on high-end domains, I didn't catch anything, apart from an early drop on unclear_co_uk which seemingly isn't of interest to anyone. If anyone wants it, for a gesture amount and the cost of the Nominet transfer, let me know!

I also cannot fathom the sale prices. I know the market is very targeted and you have to luck in on the right buyer at the right time, but sometimes it baffles me how a domain that so many feel is rubbish can sell for thousands, yet a decent one sells for sell. How you guys cope with understanding this I do not know!

Another reason for not sticking with it is the new Nominet rules on .uk. Like many here, I find by releasing the .uk if a .co.uk is dropped, resulting in a high probability of the two domains being with two separate owners, totally damaging to the industry, and unless Nominet review this and consider allowing a cool off period where the new owner can buy it, I can't see how this will work, though obviously, for Nominet, this isn't as important as gaining more revenue from the new extension.

This forum is the best around with some incredibly knowledgeable individuals. I plan on sticking around, but maybe only to try and pursue some domains I'm interested in (to develop). I'm sure there will be new approaches that can be capitalise upon, on the new system, but it is probably one for the seasons pro's rather than me

How cash rich is your business ?
You could effectively time travel backwards by buying a quality portfolio.
If you can buy an entire portfolio, without the seller holding back the very best domains, it could be the way to go.

 

[Skinner]

Any specific examples you care to post are appreciated

I'll wait another few days before I post publicly, maybe the hamsters are turning the flywheel to generate the processing power needed to query a registrars transactions with over a million names on it

I don't see it being that big a task to query all domains which expired within date granted accredited status and now, where registrant details was changed, to see the pattern of abuse.

 

[martin-s]

Domains are for developing, and that's where the real money is.

Cider for £2k the other day could be a great business. I sold Muesli a couple of months ago for £500 odd - that could be another.

There's not a single domain on DL I'd buy right now, but on Sedo £10k on bookkeeping.co.uk could be an awesome investment.

Where do your skills lay Ian?

 

[julian]

shemale/co/uk went recently..definitely a growing market

A bit pricy, but potentially a nice long term investment, easy to build out - you could have bid on that?

[shame about the site]