Domain auction can be a very profitable if you know how they work! Discover what you need to do on a premium domain auction!
The premium domain names cost more than the standard domains. The reasons for this is because they simply have a bigger value. Many domain traders and brokers know the value of the premium domain names, so they do everything that is in their power to own these domains. They even sell these domains in the domain market in order to make a profit out of them.
However, since the demand for the premium domains is high, the competition is huge. You can check out the domain auction marketplace and see for yourself. Sometimes, you can even see competitive bidding wars between various parties. This only proves that premium domains are indeed valuable.
So, what you should do on a premium domain auction:
There are few things to keep in mind during a premium domain auction:
- Avoid Bidding Wars – Make sure not to get into a bidding war because at the end of the auction there will be probably no winning side. In this case, only the domain seller wins and takes the profit. For that reason, never let your ego come in the way when participating in a domain auction. Keep cool and wait for your turn. Being aggressive is not going to do any good for you.
- Don’t Bid too Early – Timing is everything in a premium domain auction, so don’ reveal your intentions too early. You should have a maximum bidding price and you need to make sure never to cross this price. Keep in mind that the more bidders participate in the domain auction, the higher the price is going to be. If the price simply doesn’t make sense to you, stop bidding.
- Increase the Portfolio of Clients – Make sure to increase your portfolio of clients and if you can try and acquire as high profile clients as you can. Try and go for corporate clients as they have the finances to pay for the premium domain names. Having a great portfolio of clients means that you will be able to afford a more expensive premium domains.
Take these 3 tips into consideration whenever you are buying premium domains names at an auction. Place your bid right and buy a domain name according to your preferences. Premium Domains – Top 6 Facts You Should Know