If you're like many Internet professionals, you probably have a few unused domain names just sitting around. If you're looking to sell those, there's a new marketplace to check out.
Domain selling is a practice that involves buying and selling internet domain names for profit. The domain name industry is a lucrative business that has become increasingly popular as more and more businesses move online. A good domain name is essential for businesses, as it can help attract customers and improve search engine rankings. The domain name industry is worth billions of dollars, and selling domains has become a significant source of income for many people.
Overview of the Domain Sales Market
The domain sales market is a highly competitive and dynamic industry. There is a constant demand for high-quality domain names, which makes it a profitable business. According to a report by Sedo, a leading domain name marketplace, the total sales volume of domain names in 2020 was around $116 million. The same report stated that the average price of a domain name was $2,798, with the highest reported sale being $600,000.
With the COVID-19 pandemic, there has been a surge in e-commerce activity, which has led to an increase in the demand for domain names. According to a report by Verisign, the total number of registered domain names worldwide increased by 4.0 million in Q1 2021. The report also stated that the total number of registered domain names was 363.5 million at the end of Q1 2021. This represents a 4.5% increase compared to the same period in 2020.
Selling Domain Names: How to Do It
Selling domain names can be a profitable business if done correctly. The following are some essential steps to consider when selling a domain name:
Price your domain name: Research the market to determine the value of your domain name. You can use online tools such as Estibot or GoDaddy's Domain Value Appraisal to help you determine its worth.
List your domain name: You can list your domain name on various marketplaces such as GoDaddy, Flippa, or Sedo. These platforms allow you to showcase your domain name to potential buyers.
Promote your domain name: Promote your domain name through social media, online forums, and email marketing to reach a broader audience.
Negotiate with potential buyers: Be prepared to negotiate with potential buyers to get the best possible price for your domain name.
Selling Domains on FreeMarket
Freemarket.com is an online marketplace that allows users to buy and sell domain names, websites, and mobile apps. The platform was founded in 2009 and has since become a popular option for domain name investors and entrepreneurs. Freemarket.com is part of the Freelancer.com family of companies, which is a leading freelancing and outsourcing platform.
One of the main features of Freemarket.com is its ease of use. The platform is designed to be user-friendly and intuitive, making it easy for anyone to buy or sell a domain name. Freemarket.com also provides a range of services to help sellers market their domain names, including customized landing pages, social media promotion, and email marketing.
In terms of pricing, Freemarket.com charges a commission of 5% for successful sales. This is relatively low compared to some of the other platforms, which can charge up to 15% in commission. Freemarket.com also offers a range of payment options, including PayPal, credit card, and bank transfer.
One of the downsides of Freemarket.com is that it is not as well-known as some of the other platforms, which can make it more difficult to attract potential buyers. The platform also has a smaller pool of buyers compared to some of the other marketplaces, which can limit the potential reach of your domain name.
Compared to other platforms, Freemarket.com offers a more streamlined selling experience. The platform is designed to be simple and easy to use, making it a good option for beginners or those who want to sell their domain name quickly. However, if you are looking for a platform with a larger pool of buyers and more advanced features, some of the other marketplaces may be a better fit.
Other Marketplaces to Buy and Sell Domains, Websites, and Apps
There are various online marketplaces where you can buy and sell domains, websites, and apps. Some of the most popular platforms include:
- GoDaddy Auctions: GoDaddy Auctions is one of the largest and most popular platforms for buying and selling domain names. As a domain registrar, GoDaddy provides a wide range of domain extensions for buyers to choose from. GoDaddy Auctions offers features like bidding, buy-now options, and domain parking to generate revenue. The platform is easy to use, and sellers can list their domains for auction within minutes.
- Sedo: Sedo is a well-established domain name marketplace that has been in business since 2001. With over 2 million domains available for sale, Sedo is a popular platform for buying and selling domain names. The platform offers features like negotiation and escrow services to ensure secure transactions. Sedo also has a dedicated team that provides support to both buyers and sellers, which helps to make the sales process smoother.
- Flippa: Flippa is an online marketplace that specializes in buying and selling websites, domain names, and mobile apps. It is a popular platform that attracts a wide range of buyers and sellers. Flippa offers features like auctions, classified listings, and a buy-it-now option. The platform also provides access to detailed analytics and financial data to help buyers and sellers make informed decisions.
- Namecheap Marketplace: Namecheap is a popular domain registrar that also has a marketplace for buying and selling domain names. The platform offers features like free listing and the ability to set your own price. Namecheap Marketplace also provides access to a large pool of potential buyers, making it easier to sell your domain name. The platform is easy to use, and sellers can list their domains for sale within minutes.
- Afternic: Afternic is a domain name marketplace that is part of the GoDaddy family of companies. The platform offers features like auctions and buy now options. Afternic also provides access to a large network of potential buyers, which can help sellers to get the best price for their domain name. The platform also offers a range of domain extensions and makes it easy to search for the perfect domain name.
Conclusion
Selling domain names is a profitable business that can generate significant income. However, it's essential to understand the market and research the value of your domain name to get the best price. With the right platform and marketing strategy, you can reach potential buyers and maximize your profits. The domain name industry is constantly evolving, and it's essential to stay up to date with the latest trends and strategies to succeed in this industry.
